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That’s interesting but I think also a little misleading. The income brackets are held in constant dollars, which is helpful, but many of the important things in
by burlesona 6y ago
That’s interesting but I think also a little misleading. The income brackets are held in constant dollars, which is helpful, but many of the important things in life have scaled like crazy in constant dollars as well.
$100k equivalent income in the 1960s was enough to buy a family home almost anywhere, and now it’s not enough to buy a family home in most major metros.
- motorcycleman9 6y agoThe way that CPI inflation is calculated accounts for spending pattern changes already, including mortgage/rent. If you don't have a nuanced critique of the CPI calculation method, I'd argue that this point is moot. It's also worth pointing out that the average square footage of a home has grown considerably in this time, and that even if you are comparing a similar sized home, it is unfair to compare a home 3 miles from city center in a city of 1 million people to the same in a city of 2 million people, after it has grown through the years.
- DeonPenny 6y agoIts cause the work force double, and people this generation don't marry.