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Over 50 years, the difference is even more striking. After accounting for inflation, home prices have jumped 118% since 1965, while income has only increased by
by mbesto 4y ago
Over 50 years, the difference is even more striking. After accounting for inflation, home prices have jumped 118% since 1965, while income has only increased by 15%, according to a separate report by online brokerage Clever Real Estate, based on Census data.
https://www.cnbc.com/2021/11/10/home-prices-are-now-rising-much-faster-than-incomes-studies-show.html https://www.cnbc.com/2021/11/10/home-prices-are-now-rising-m...
- jjk166 4y agoA 118% increase over 57 years is an average yearly growthrate of 3.8%. Wages for equivalent jobs have been pretty stagnant for the past 50 years, but people personally tend to make more money year over year as they gain experience. Or in otherwords, a 25 year old right now is not much better off than a 25 year old 20 years ago, but a 45 year old right now is likely much better off than a 25 year old 20 years ago.