>It's a straightforward outcome thanks to dropping prices of household electronics. If a new car was the price of a new dishwasher, that would signal the end of car repair shops too.

This, I don't know why so many people fail to recognize this. I suppose part of it is inflation so they forget that basic appliances used to cost 10x what they cost now. My parents had to save up to buy a microwave, I could buy one a week and only be mildly inconvenienced. I just helped a buddy move a fridge that cost ~$1000, that would have been something like $4000 in 1980 dollars.