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Except they aren’t. They’ve just managed to keep up with the (real) rate of inflation. You’re not rich if your pay went from $7/hr to $10/hr but gas went from $
by vGPU 3y ago
Except they aren’t. They’ve just managed to keep up with the (real) rate of inflation. You’re not rich if your pay went from $7/hr to $10/hr but gas went from $3 to $4. You’re still in the same situation, if not a bit worse off.
- SuperNinKenDo 3y agoIf you own an asset worth millions, you're rich regardless of your income.
- antisthenes 3y agoThat's true, but the average house is nowhere near millions. It's not even anywhere near a million.
- SuperNinKenDo 3y agoI guess I'm thinking from an Australian perspective. I did notice houses were significantly cheaper in America. I should have just said if you own a house anywhere near a metropolitan area.
- vGPU 3y agoIf a Honda civic is worth a million dollars, are you rich? Or has inflation simply eroded your buying power?