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>>> They pay less on a monthly mortgage payment than their parents did The reference you gave for "They pay less on a monthly mortgage payment" is itself adjus
by TuringNYC 6y ago
>>> They pay less on a monthly mortgage payment than their parents did
The reference you gave for "They pay less on a monthly mortgage payment" is itself adjusted for inflation as noted on the chart. So using the questionable inflation figure itself to refute inflation isn't persuasive.
Intuitively also, I'm not sure I buy the argument that the median young person lives in Kansas City. I grew up with dozens of family members who actually did live in middle america (most of them as engineers at car plants.) Many of those jobs are not as cushy as they once were. Some are gone. From my own experience as an engineer, the weighted centroids of the job market are in SF or NY or DC, not in Ohio.
Of course, that is an engineering viewpoint, what about overall across professions? I dont quite understand this and i'd love to be educated. From everything I read, the traditional jobs in middle america have left and these towns struggle. My own experience is only anecdotal (e.g., upstate NY, western pennsylvania)
- rayiner 6y ago> The reference you gave for "They pay less on a monthly mortgage payment" is itself adjusted for inflation as noted on the chart. So using the questionable inflation figure itself to refute inflation isn't persuasive. Yes, it's adjusted for inflation. But if housing costs were growing faster than inflation, the monthly mortgage payment adjusted for inflation would still be going up. > My own experience is only anecdotal (e.g., upstate NY, western pennsylvania) Head down to Kansas City, or east Texas, or pretty much anywhere in the sunbelt. These places are booming. They're full of young people, families, and tons of kids.