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It looks like this is counting the average rather than median, so it's going to be skewed by the top earners. Here is per capita income during the same time per

by Aunche 6y ago

It looks like this is counting the average rather than median, so it's going to be skewed by the top earners. Here is per capita income during the same time period using 2019 dollars: 2019 39,156 2018 36,734 2017 36,553 2017 35,970 2016 35,375 2015 34,157 2014 32,619 2013 33,008 2013 31,691 2012 31,549 2011 31,389 2010 31,208 2009 31,690 2008 32,096 2007 33,131 2006 33,496 2005 32,855 2004 32,368 2003 32,433 2002 32,483 2001 33,077 2000 33,267 1999 32,692 1998 31,629 1997 30,657 1996 29,521 1995 28,788 1994 28,332 1993 27,564 1992 26,593 https://www.census.gov/data/tables/time-series/demo/income-poverty/historical-income-people.html https://www.census.gov/data/tables/time-series/demo/income-p... It has increased even faster than average housing costs. To be fair, that's is expected because rich people don't spend the same percentage their income on housing as most other people.

egh 6y ago
Good point. The data I reported is for "shelter" only, excluding utilities, furniture, etc., so I'm not sure how that looks on the income curve. You're also reporting average income, not median. Median income is much stabler, having climbed about $6000 since 1990. My main point is, people are spending more on housing. It's not a mirage. It is highly concentrated where there are jobs, but of course people move to where the jobs are. It's facile to say they should move somewhere else, or that they are getting "more" for their housing.
- ChrisLomont 6y ago
  >My main point is, people are spending more on housing. It's not a mirage. House sizes have grown a lot too. When you factor that in, you get to what the OP stated: per square foot, housing prices have been remarkably constant (and for much longer than his 1990 to 2020 window). When you factor in that houses are now vastly more energy efficient, safe, with niceties like central air, then modern home buyers are likely getting the best deals in history.

by Aunche 6y ago

egh 6y ago

Good point. The data I reported is for "shelter" only, excluding utilities, furniture, etc., so I'm not sure how that looks on the income curve. You're also reporting average income, not median. Median income is much stabler, having climbed about $6000 since 1990. My main point is, people are spending more on housing. It's not a mirage. It is highly concentrated where there are jobs, but of course people move to where the jobs are. It's facile to say they should move somewhere else, or that they are getting "more" for their housing.

ChrisLomont 6y ago
>My main point is, people are spending more on housing. It's not a mirage. House sizes have grown a lot too. When you factor that in, you get to what the OP stated: per square foot, housing prices have been remarkably constant (and for much longer than his 1990 to 2020 window). When you factor in that houses are now vastly more energy efficient, safe, with niceties like central air, then modern home buyers are likely getting the best deals in history.