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I think Bay Area real estate is a good analogy. Almost everyone is making more money than they were 10 years ago thanks to the tech industry, increases in minim
by qqqwerty 7y ago
I think Bay Area real estate is a good analogy. Almost everyone is making more money than they were 10 years ago thanks to the tech industry, increases in minimum wages, etc... So technically everyone is wealthier, even after accounting for inflation. But thanks to increases in wealth inequality, the real estate market has gone bananas, resulting in the average resident feeling worse off.