I agree. Also, inflation (or whatever you call it) is slow enough such that people don't notice it relative to other traumatic events in their lives. As an example, it's not uncommon for a mid-level lawyer in the Bay Area to be living with a roommate in an apartment or condo. (I'm sure this wasn't the case 25 years ago.) Most pre-law students are not thinking about that type of lifestyle when they're applying to law school. They're still thinking they'll have the nice big house with a pool and two Mercedes in the garage. The inflation is subtle enough such that the masses are not in an uproar.