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Wages have gone up significantly recently: when wages go up - house prices (and the price of everything else) go up. Raising wages doesn't magic up more houses.
by jacobsenscott 3y ago
Wages have gone up significantly recently: when wages go up - house prices (and the price of everything else) go up. Raising wages doesn't magic up more houses.
- willcipriano 3y ago> Wages have gone up significantly recently "Since President Biden took office in January 2021, the increase in prices due to inflation is over 14%, resulting in a loss in real wages of nearly 4%" https://budget.house.gov/press-release/fiscal-state-of-the-union-bidens-real-wage-decline https://budget.house.gov/press-release/fiscal-state-of-the-u... "Americans With a College Degree Saw Wages Decline the Most in Two Decades" https://www.bloomberg.com/news/articles/2023-02-10/americans-with-a-college-degree-saw-wages-decline-most-in-two-decades#xj4y7vzkg https://www.bloomberg.com/news/articles/2023-02-10/americans... "Between 1973 and 2015, real hourly earnings for the typical 25–54 year-old man with only a high school degree declined by 18.2 percent" https://www.aeaweb.org/articles?id=10.1257/jep.33.2.163 https://www.aeaweb.org/articles?id=10.1257/jep.33.2.163
- jacobsenscott 3y agohttps://fred.stlouisfed.org/series/MEHOINUSA672N https://fred.stlouisfed.org/series/MEHOINUSA672N You can zoom in to any point on the chart to tell whatever story you wish.
- willcipriano 3y agoLabor is taking less and less of what it creates home with it, you can't hide that with gamed CPI: https://fred.stlouisfed.org/series/LABSHPUSA156NRUG https://fred.stlouisfed.org/series/LABSHPUSA156NRUG Every recession labor gives up a little more ground and never gains it back. More reading: https://fredblog.stlouisfed.org/2019/08/capitals-gain-is-lately-labours-loss/ https://fredblog.stlouisfed.org/2019/08/capitals-gain-is-lat...