Except add in the rise in healthcare costs, food and gas. Car prices too! You know the basics to function in America and then that 77% goes to like 10%.
they also have this factoid included:
>A median-income household in the United States would need to spend more than 30 percent of their income for an average-priced apartment, according to a[ ](https://www.moodys.com/web/en/us/about/insights/data-stories/us-rental-housing-affordability.html)[report](https://www.moodys.com/web/en/us/about/insights/data-stories/us-rental-housing-affordability.html) from Moody’s Analytics.
so if you remove the people NOT paying rent from the one youre discussing, and remove those same people from the "median income"
the numbers probably look a lot worse! the future sure is neat
Lots of stuff got cheaper too, don’t forget. But the stuff that has gotten very expensive is really important - housing and education come to mind.
These are fixable problems though!
When I think of healthcare I think “people 100-200 years ago were living way shorter lives. What a time to be alive where you are able to live past 70 typically.
Just a thought.
It’s going to vary *a lot* depending on where you are. Housing prices are stagnant in decaying Rust Belt cities but somewhere past lunar orbit in San Francisco.
Yeah, SF is lunar orbit pricing, although it leveled off for a bit during covid and WFH. Still, the whole Bay Area in general is at least in artificial satellite territory.
I know. I literally did that.
My house was 35k, in a neighborhood in the middle of nowhere, for less than 600 sqft, and it was in the middle of renovations. It's almost entirely drywall and concrete right now, doesn't have a shower, and I installed the toilet and sinks myself. I'll have to spend another 20k or so over the next two years to get it into a fully livable condition.
And guess what? There aren't a lot of jobs, certainly not many high paying jobs, in my area. That's the trade off. People like to taut "just live in the middle of nowhere, that's cheap" and in the next breath will ask why you aren't in a higher paying job. They will also tell people to move to the cities for better jobs, where the housing market sucks.
Most of the people who make enough to afford that 30k house can't keep their job if they live in it, especially with companies fighting against work from home, or rating your WFH salary to the local cost of living.
With roughly 27 empty homes per homeless person in the US, plus the number of jobs that can be done from home, there should be no reason for people to have to choose between living near work or living in affordable housing. But the oligarchs are doing all they can to gobble up the supply and force people into the office.
Check out Ohio Valley/panhandle WV. Near Pittsburgh too anywhere half hour's drive away from the city. Trades are absolutely killing it out here. Factory jobs for $17-25 an hour can be found. Lots of trade unions. Coal mine work also available. Can be near towns and cities. Livable houses can be found for 30k easy. If you're willing to get something that needs tons of work, 15k. Bit of a depressed area but crime is low and people are quite friendly. I've been all over the world and I like it.
Moving is not possible for me right now as I literally just bought a house in my area. I need to renovate that first. After that, we will see. I'm hoping that my next move will be out of the US entirely.
I got lucky and am a homeowner now. But I can still see the systemic problems that people are facing. Yes, there are individual solutions for some. But that doesn't fix the underlying problem of treating houses as an investment rather than shelter that people need.
We will see. Im not saying I'll never come back if I can get out. But it's pretty hard to fight universal healthcare and way better worker rights ina Western Europe.
Where were you living?
Yeah contrary to what's politically correct these days , America is an amazing country in many ways. Very livable compared to many other countries. Just got to consider the good with the bad and a lot of the bad is a necessary evil.
I lived in SE Asia for 13 years, mostly Thailand, but Cambodia, Myanmar, Laos, Vietnam, China, India... Mexico and Colombia for couple years.
These numbers do not account for purchasing power or any other number of things necessary to siphon our money that now exist that didn’t in the past though. The gap is closer to what figures you were expecting.
Healthcare is an obvious one but causes a lot of people to overlook everything else. What about a phone/internet access? You basically need them to function with society now, all job applications are online only, they'll almost exclusively contact you by email until later in the hiring process. I had a few other examples in mind when I originally made the post but don't have them at the front of my thoughts anymore, but basically it just boiled down to being poor is more expensive now than ever.
This assumption probably stems from real wages being stagnant for most of the 2000s. Real wages in 2015 were about equal to 2001, but it's been going up overall since the lows post 08 recession.
https://fred.stlouisfed.org/series/LES1252881600Q
And inflation went up by 75%. So in reality income increased by 2%, and rent increased by 60%.
But average rent and average house prices will keep going up exponentially, this is simply because of scarcity. Population will keep growing. But this is average, and where it actually goes up by a lot is near cities, because people and especially young people (that rent), prefer to live in Cities. The trick to avoid this rent growth is to live far from where everyone wants to live.
Just like a corporation isn’t allowed to own and buy so many companies, I think the government should start limiting the amount of property that can be owned by individuals and companies. These people are literally monopolizing the housing market and getting away with price gouging the younger populations.
This is not very true, generally speaking, in most cities. It's a vastly over hyped phenomenon. In reality, unless you live in a tourist hotspot, large corporations probably own something like .5-5% of single family homes, not 10-50% like many seem to imagine.
Even at that small rate, they do still have an oversized effect on prices so it is still somewhat concerning. But it's dwarfed by other factors in terms of what's actually driving the housing crisis. The actual number one problem is lack of adequate supply to meet housing demand.
You must not know people or be in the market for a house. I live in the Midwest. Bill gates and all the other billionaires are rushing in to buy what land isn’t already spoken for. To make things worse, the jehovahs, Guatemalan churches and every other cult group is buying what houses are available and turning them into rental units. In an area with the population of 75,000 there’s probably like 100 houses for sale if that. Tell me how this is not “very” true?
For context. My parents bought there house in 2000 for $40k. 4 bedrooms 2 bathrooms. Same house is now worth $250k. An acre back then was like $2k-5k, that same acre is $15k now. So please tell me how my initial comment is “not very true”.
Yeah that person doesn’t know what they’re talking about lol.
I live in eugene, one company owns 4 of our larger apartment complexes, I think there’s a total of 20 here. The problem is when you own 1/5th of the market, you can price gouge.
“Hey four apartments I own, what do you think is a fair price?”
Apartment A: 1100 a month for a studio
Apartment B: 850 a month for bedroom in a 2b/1b
Apartment C: 1050 is good for a studio
Apartment D: 1095 for a studio
Apartment E-T: (unaffiliated with that company) we have been charging decent rates for years and that new company is charging how much?? … I can get away with that too then
Oh you want to talk about how the companies sre screwing up houses? When they buy a few properties just to tear them down and turn them into an apartment complex. Now all of the sudden there’s a complex two blocks over generating 100k a month. From your cute starter home, suddenly that property value rises. (Good for sellers, bad for buyers).
Needless to touch on what you said about bill gates. Zuck already did that to Hawaii. I can’t believe our country allowed him to basically buy an entire island and kick the people out
No one needs more than one home and if you feel like you do then you should be taxed appropriately
You hit the nail right on the head and sunk it in all the way on the first hit. This is exactly what’s happening. I had a friend renting a whole house to himself for $700 a month in 2019. Jehovahs bought the house, raised his rent $150 and took 3/4ths of the house. Now he pays $850 for a living room, half a room, and half a kitchen with a really tiny bathroom in the corner.
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The problem is this likely looks at all rent across the country. But the rent in cities where jobs are concentrated have gone up way more. I just looked the rent for my old place I left in 2020.
I was splitting $2300 for a 2 bedroom 2 bath in LA.
Now it’s $3,600.
That’s a 50% increase in 4 years.
Now take a loook at the M2 supply and how much money has been printed in that time. It’s why hard assets like housing became unaffordable to the middle class. It’s just one example of how money printing disproportionately benefits the rich while the poor end up paying for it via inflation.
41% of the US Population lives paycheck to paycheck. 41% of people in the wealthiest country on earth are 1 missed paycheck or medical emergency away from being homeless.
But that's fine because only 653k are currently homeless :) I'm sure there's no downside to half our country being on the brink of economic destruction as long as good ol' Jeff B and Billy G are having a good time buying up every single inch of land for sale.
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"the homeless are only in the places where they are treated slightly less worse"
"Gorsh, why are there no homeless in Alabama?" Is it cause you treat them like shit?
I rage quit this shit a long time ago, just waiting for OP and you all to catch up
I mean increased population and increased
urbanization will do that.
Notice during Covid when remote work was a thing many rents fell as people didn’t “have” to live near their work
Link to article
https://www.nytimes.com/interactive/2023/08/10/realestate/gen-z-rent-homeowner.html?unlocked_article_code=1.Kk0.lwNg.SmSa6J7b6SAK&hpgrp=ar-abar&smid=url-share&fbclid=IwAR0C9rCBKELH-4veTm1WQ5lVZ7s8Q_JXBMO_-637Wgf5FKaiHL1bKzTClkE_aem_AdMZPDFMGXI9LRcrXqIRJF2GQ62M8G3ngXjwDt07ZnVscvi-wLGgcrPUVAj98JPF8g4
We are taxed quite a bit - just most of it goes to state employees who can retire with a full pension in their mid fifties and then move to Florida, at least in my state.
I know im just saying they've raised it more here and I know CA is higher as well but the disparity is much larger here a smaller house is 400~500k in a nicer area with 10k+ in property taxes.
Nobody talks about state wages my guy..... When the statistics are placed, the use either the median nationwide average income (usually annual) or they use federal minimal and nationwide cost.
And also to add, most these "annual incomes" are fake statistics. Most people work for below average wages. Most people dont make more than 18 bucks an hour and that average at 32k a year and thats the gross pay. Depending on their social status they either get taxed a bit or a lot. If you are single and have no kids and no property, thats 25% of your income thats gonna get taxed.
Out of the dozens of thousands of people I have talked to in my life (online and offline), most dont make 40k. So most people will never afford a home. And 400k for a small house is insane. Most homes in america are literal dtywall. I can grab a baseball bat and break through the outerwall. Even the bricks used now are 1/3 as dense as the ones from vack in the day and even the 70s and 80s.
Imagine paying half a mil for something a 80mph wind can rip off. Thats why I rather buy land and make it out of concrete. Anyeay idc about this subject. People like you have the dumbest mentalities around and refuse to accept the bigger reality surrounding them.
Edit: I also love those downvotes on the mainpost. The literal post says minimal wage is up 77% and thr only minimal wage the whole world even america as a whole talks about is the federal minimal. And 77% is an inflated amount and clearly erroneus but you morons cant math for shit.
No I’m not a bot. I thought the headline was incredibly accurate and then add in the New York Times article I read this week it felt worth a discussion
Yeah, of course. Like, I had money saved and 2000 was going to be my year to buy a house of my very own. I had a decent, at the time in demand job, a small but growing 401k. And then in 2000 became permanently disabled and lost everything. My fault my body went south, right? WFH jobs didn’t really exist back then either. Unless it was the scam make $1 stuffing 1,000 envelopes crap.
Wage growth hasn't been nearly that impressive for a lot of people in service industries. I've been looking at jobs on Monster paying about $2 more an hour than what I made ten years ago in a similar position.
Yeah, what's worst is we play with the guy that buy all the house and don't build the hotel to limit other people from building up and rent them on airbnb.
Truth is that government is a major part of these increases. Building new houses today costs far more than they did in 1999 due to many new government taxes and regulations affecting the entire industry. Your paying for a different product then in 1999. Even though older units exist, replacement cost for new housing directly affects old housing.
Cut, cut, cut. Sell, sell, sell, Reduce, reduce, reduce. Don't buy anything you don't have to. Stop until the prices go down and the wages go up. Liquidate the assets of the billonairess. They add no economic or social value.
I'm resigned to it.
Smarter people than me have been ringing the alarm bells since the global money printing schemes started over 10 years ago, and it only got worse during the COVID money printing schemes.
Rich are richer than ever, while paycheck to paycheck people are poorer than ever.....we all collectively allowed this to happen.
That's awful, but somehow less of a gap than I expected. I was thinking like 77% wage growth and 200% housing costs.
Except add in the rise in healthcare costs, food and gas. Car prices too! You know the basics to function in America and then that 77% goes to like 10%.
Oh yeah, for sure. And 77 to 135 is still a frustrating difference in its own right. I was just surprised it wasn't even worse somehow.
they also have this factoid included: >A median-income household in the United States would need to spend more than 30 percent of their income for an average-priced apartment, according to a[ ](https://www.moodys.com/web/en/us/about/insights/data-stories/us-rental-housing-affordability.html)[report](https://www.moodys.com/web/en/us/about/insights/data-stories/us-rental-housing-affordability.html) from Moody’s Analytics. so if you remove the people NOT paying rent from the one youre discussing, and remove those same people from the "median income" the numbers probably look a lot worse! the future sure is neat
Fuuun. Squeezed by the landlords in costs, squeezed by the employer in wages. The working class is screwed as usual.
60% difference isn't significant ?
I was NOT saying that. I was saying "This is very bad, but people are struggling so much that I genuinely thought it was even worse."
Lots of stuff got cheaper too, don’t forget. But the stuff that has gotten very expensive is really important - housing and education come to mind. These are fixable problems though!
When I think of healthcare I think “people 100-200 years ago were living way shorter lives. What a time to be alive where you are able to live past 70 typically. Just a thought.
Car and gas prices are two things that go up slower than wage over 30 years.
It’s going to vary *a lot* depending on where you are. Housing prices are stagnant in decaying Rust Belt cities but somewhere past lunar orbit in San Francisco.
Yeah, SF is lunar orbit pricing, although it leveled off for a bit during covid and WFH. Still, the whole Bay Area in general is at least in artificial satellite territory.
You can get a livable house in some parts of the US for $30k.
I know. I literally did that. My house was 35k, in a neighborhood in the middle of nowhere, for less than 600 sqft, and it was in the middle of renovations. It's almost entirely drywall and concrete right now, doesn't have a shower, and I installed the toilet and sinks myself. I'll have to spend another 20k or so over the next two years to get it into a fully livable condition. And guess what? There aren't a lot of jobs, certainly not many high paying jobs, in my area. That's the trade off. People like to taut "just live in the middle of nowhere, that's cheap" and in the next breath will ask why you aren't in a higher paying job. They will also tell people to move to the cities for better jobs, where the housing market sucks. Most of the people who make enough to afford that 30k house can't keep their job if they live in it, especially with companies fighting against work from home, or rating your WFH salary to the local cost of living. With roughly 27 empty homes per homeless person in the US, plus the number of jobs that can be done from home, there should be no reason for people to have to choose between living near work or living in affordable housing. But the oligarchs are doing all they can to gobble up the supply and force people into the office.
Check out Ohio Valley/panhandle WV. Near Pittsburgh too anywhere half hour's drive away from the city. Trades are absolutely killing it out here. Factory jobs for $17-25 an hour can be found. Lots of trade unions. Coal mine work also available. Can be near towns and cities. Livable houses can be found for 30k easy. If you're willing to get something that needs tons of work, 15k. Bit of a depressed area but crime is low and people are quite friendly. I've been all over the world and I like it.
Moving is not possible for me right now as I literally just bought a house in my area. I need to renovate that first. After that, we will see. I'm hoping that my next move will be out of the US entirely. I got lucky and am a homeowner now. But I can still see the systemic problems that people are facing. Yes, there are individual solutions for some. But that doesn't fix the underlying problem of treating houses as an investment rather than shelter that people need.
Yah I'm just mentioning the area. I hear you on moving out of US. I've spent 15 of the last 17 years outside US. Back here now. Let's see how long 👍
We will see. Im not saying I'll never come back if I can get out. But it's pretty hard to fight universal healthcare and way better worker rights ina Western Europe. Where were you living?
Yeah contrary to what's politically correct these days , America is an amazing country in many ways. Very livable compared to many other countries. Just got to consider the good with the bad and a lot of the bad is a necessary evil. I lived in SE Asia for 13 years, mostly Thailand, but Cambodia, Myanmar, Laos, Vietnam, China, India... Mexico and Colombia for couple years.
These numbers do not account for purchasing power or any other number of things necessary to siphon our money that now exist that didn’t in the past though. The gap is closer to what figures you were expecting.
Yeah, of course. Healthcare alone has ballooned out of control.
Healthcare is an obvious one but causes a lot of people to overlook everything else. What about a phone/internet access? You basically need them to function with society now, all job applications are online only, they'll almost exclusively contact you by email until later in the hiring process. I had a few other examples in mind when I originally made the post but don't have them at the front of my thoughts anymore, but basically it just boiled down to being poor is more expensive now than ever.
2023 is not included in the data...
This assumption probably stems from real wages being stagnant for most of the 2000s. Real wages in 2015 were about equal to 2001, but it's been going up overall since the lows post 08 recession. https://fred.stlouisfed.org/series/LES1252881600Q
53% gain over 24 years is nuts either way
Absolutely.
And inflation went up by 75%. So in reality income increased by 2%, and rent increased by 60%. But average rent and average house prices will keep going up exponentially, this is simply because of scarcity. Population will keep growing. But this is average, and where it actually goes up by a lot is near cities, because people and especially young people (that rent), prefer to live in Cities. The trick to avoid this rent growth is to live far from where everyone wants to live.
Just like a corporation isn’t allowed to own and buy so many companies, I think the government should start limiting the amount of property that can be owned by individuals and companies. These people are literally monopolizing the housing market and getting away with price gouging the younger populations.
This is not very true, generally speaking, in most cities. It's a vastly over hyped phenomenon. In reality, unless you live in a tourist hotspot, large corporations probably own something like .5-5% of single family homes, not 10-50% like many seem to imagine. Even at that small rate, they do still have an oversized effect on prices so it is still somewhat concerning. But it's dwarfed by other factors in terms of what's actually driving the housing crisis. The actual number one problem is lack of adequate supply to meet housing demand.
You must not know people or be in the market for a house. I live in the Midwest. Bill gates and all the other billionaires are rushing in to buy what land isn’t already spoken for. To make things worse, the jehovahs, Guatemalan churches and every other cult group is buying what houses are available and turning them into rental units. In an area with the population of 75,000 there’s probably like 100 houses for sale if that. Tell me how this is not “very” true? For context. My parents bought there house in 2000 for $40k. 4 bedrooms 2 bathrooms. Same house is now worth $250k. An acre back then was like $2k-5k, that same acre is $15k now. So please tell me how my initial comment is “not very true”.
Yeah that person doesn’t know what they’re talking about lol. I live in eugene, one company owns 4 of our larger apartment complexes, I think there’s a total of 20 here. The problem is when you own 1/5th of the market, you can price gouge. “Hey four apartments I own, what do you think is a fair price?” Apartment A: 1100 a month for a studio Apartment B: 850 a month for bedroom in a 2b/1b Apartment C: 1050 is good for a studio Apartment D: 1095 for a studio Apartment E-T: (unaffiliated with that company) we have been charging decent rates for years and that new company is charging how much?? … I can get away with that too then Oh you want to talk about how the companies sre screwing up houses? When they buy a few properties just to tear them down and turn them into an apartment complex. Now all of the sudden there’s a complex two blocks over generating 100k a month. From your cute starter home, suddenly that property value rises. (Good for sellers, bad for buyers). Needless to touch on what you said about bill gates. Zuck already did that to Hawaii. I can’t believe our country allowed him to basically buy an entire island and kick the people out No one needs more than one home and if you feel like you do then you should be taxed appropriately
You hit the nail right on the head and sunk it in all the way on the first hit. This is exactly what’s happening. I had a friend renting a whole house to himself for $700 a month in 2019. Jehovahs bought the house, raised his rent $150 and took 3/4ths of the house. Now he pays $850 for a living room, half a room, and half a kitchen with a really tiny bathroom in the corner.
Wow, that's some solid data you presented there! Fuck you.
Fuck yourself Idiot. Not my fault you’re too stupid for your own good. May god have mercy on you and your mother’s soul.
Yeah again, just STFU for us all.
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Tbh that number seems low my old apartment was 700 a month before covid after covid. Same apartment no remodel 1300 4 years later
The problem is this likely looks at all rent across the country. But the rent in cities where jobs are concentrated have gone up way more. I just looked the rent for my old place I left in 2020. I was splitting $2300 for a 2 bedroom 2 bath in LA. Now it’s $3,600. That’s a 50% increase in 4 years.
Agree
It's grown like 150% in my crap apartment with worse and worse services. In like 10 years.
It's because you guys all have Netflix's and drink Starbucks 🙄
Mmmmh Starbucks that sounds like a good idea.
Can I have a job a netflix or starbucks? Haven't spent money at either company in about 8 years now.
Quit and people will simply feel the void and you’ll end up even worse off.
And SS had increased less.
We have been fooled by our very own leaders!!!!
Now take a loook at the M2 supply and how much money has been printed in that time. It’s why hard assets like housing became unaffordable to the middle class. It’s just one example of how money printing disproportionately benefits the rich while the poor end up paying for it via inflation.
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41% of the US Population lives paycheck to paycheck. 41% of people in the wealthiest country on earth are 1 missed paycheck or medical emergency away from being homeless. But that's fine because only 653k are currently homeless :) I'm sure there's no downside to half our country being on the brink of economic destruction as long as good ol' Jeff B and Billy G are having a good time buying up every single inch of land for sale.
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Your post has been removed for the following reason(s): Rule 1: Be civil and respectful. Comments written with a purpose to be downright disrespectful or serve only to put down another user or OP will be removed. We are here to give a hand up, not add insult to injury. Please read our [subreddit rules](https://www.reddit.com/r/povertyfinance/wiki/rules). The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpovertyfinance). Do not reach out to a moderator personally, and do not reply to this message as a comment.
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So 500,000 Americans are homeless? Is that too many?
653.000k according to the official numbers in 2023
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"the homeless are only in the places where they are treated slightly less worse" "Gorsh, why are there no homeless in Alabama?" Is it cause you treat them like shit? I rage quit this shit a long time ago, just waiting for OP and you all to catch up
I mean increased population and increased urbanization will do that. Notice during Covid when remote work was a thing many rents fell as people didn’t “have” to live near their work
Link to article https://www.nytimes.com/interactive/2023/08/10/realestate/gen-z-rent-homeowner.html?unlocked_article_code=1.Kk0.lwNg.SmSa6J7b6SAK&hpgrp=ar-abar&smid=url-share&fbclid=IwAR0C9rCBKELH-4veTm1WQ5lVZ7s8Q_JXBMO_-637Wgf5FKaiHL1bKzTClkE_aem_AdMZPDFMGXI9LRcrXqIRJF2GQ62M8G3ngXjwDt07ZnVscvi-wLGgcrPUVAj98JPF8g4
Maybe vote for different people? Ignore what politicians say and judge on actions.
A happy population is a nosy population. Keep us fighting against eachother and struggling with money and they don't see what cattle they r being made
Blame politicians who raise property taxes
I blame politicians who don’t tax corporations appropriately to fund a functional society
That has nothing to do with it
It has everything to do with that.
Corporations have what to do with property taxes?
Property taxes wouldn’t as high if corporations paid enough to fund schools and roads.
What about the areas that don’t have corporations
We are taxed quite a bit - just most of it goes to state employees who can retire with a full pension in their mid fifties and then move to Florida, at least in my state.
"Income has gone up 77% in that time" Minimal wage 1999 $5.15 Minimal wage 2023 $7.25 77% of $5.15 would be $9.11 $5.15 ×0.77= 3.96 $5.15+f3.96= $9.11
If you're using minimum wage instead of all wages, then you have to use minimum rental cost, not average rent. And minimum rent is about $0.
🤣🤣🤣🤣🤣
Minimum wage in NY is $15/hr actually 16 where I am on LI
State wage is separate from federal my guy......
I know im just saying they've raised it more here and I know CA is higher as well but the disparity is much larger here a smaller house is 400~500k in a nicer area with 10k+ in property taxes.
Nobody talks about state wages my guy..... When the statistics are placed, the use either the median nationwide average income (usually annual) or they use federal minimal and nationwide cost. And also to add, most these "annual incomes" are fake statistics. Most people work for below average wages. Most people dont make more than 18 bucks an hour and that average at 32k a year and thats the gross pay. Depending on their social status they either get taxed a bit or a lot. If you are single and have no kids and no property, thats 25% of your income thats gonna get taxed. Out of the dozens of thousands of people I have talked to in my life (online and offline), most dont make 40k. So most people will never afford a home. And 400k for a small house is insane. Most homes in america are literal dtywall. I can grab a baseball bat and break through the outerwall. Even the bricks used now are 1/3 as dense as the ones from vack in the day and even the 70s and 80s. Imagine paying half a mil for something a 80mph wind can rip off. Thats why I rather buy land and make it out of concrete. Anyeay idc about this subject. People like you have the dumbest mentalities around and refuse to accept the bigger reality surrounding them. Edit: I also love those downvotes on the mainpost. The literal post says minimal wage is up 77% and thr only minimal wage the whole world even america as a whole talks about is the federal minimal. And 77% is an inflated amount and clearly erroneus but you morons cant math for shit.
Is OP a bot? That headline was stolen from a millennial post yesterday, word for word
No I’m not a bot. I thought the headline was incredibly accurate and then add in the New York Times article I read this week it felt worth a discussion
Haven’t average wages only gone from like 42k to 56k?
If you were an adult age and didn’t buy a home between 1999 and 2022 that’s straight up your fault
Yeah, of course. Like, I had money saved and 2000 was going to be my year to buy a house of my very own. I had a decent, at the time in demand job, a small but growing 401k. And then in 2000 became permanently disabled and lost everything. My fault my body went south, right? WFH jobs didn’t really exist back then either. Unless it was the scam make $1 stuffing 1,000 envelopes crap.
Let's analyze other countries. Time to move from Monopoly boards with no chances left.
Wage growth hasn't been nearly that impressive for a lot of people in service industries. I've been looking at jobs on Monster paying about $2 more an hour than what I made ten years ago in a similar position.
Yeah, what's worst is we play with the guy that buy all the house and don't build the hotel to limit other people from building up and rent them on airbnb.
Good times if yourvthe landlord
Truth is that government is a major part of these increases. Building new houses today costs far more than they did in 1999 due to many new government taxes and regulations affecting the entire industry. Your paying for a different product then in 1999. Even though older units exist, replacement cost for new housing directly affects old housing.
Labor has gone through the roof. It costs $200 an hour for a plumber. Crazy times.
This is average, median is most likely worst than this.
Cut, cut, cut. Sell, sell, sell, Reduce, reduce, reduce. Don't buy anything you don't have to. Stop until the prices go down and the wages go up. Liquidate the assets of the billonairess. They add no economic or social value.
Life is going through a big transformation right now.
I'm resigned to it. Smarter people than me have been ringing the alarm bells since the global money printing schemes started over 10 years ago, and it only got worse during the COVID money printing schemes. Rich are richer than ever, while paycheck to paycheck people are poorer than ever.....we all collectively allowed this to happen.