It looks like there’s nothing I can say to make you see, but even accounting for inflation, the cost of living has been outpacing wages for decades! That’s why the average US worker in the 1950s could support a home with their wages alone, but today, two people working full-time jobs still can’t afford a home.
That’s because the cost of living has been outpacing wages.
That chart lacks context. The cost of living has drastically increased with each generation as well, far outpacing the increase in wages.
The cost of living is tracked by inflation, that’s what inflation is
It looks like there’s nothing I can say to make you see, but even accounting for inflation, the cost of living has been outpacing wages for decades! That’s why the average US worker in the 1950s could support a home with their wages alone, but today, two people working full-time jobs still can’t afford a home.
That’s because the cost of living has been outpacing wages.
But that’s only true in the 1970s and 1980s. In recent years wages have outpaced inflation
Why is home ownership now higher than before?
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