3 ms·
People comparing income multiples in the 80s with today aren’t factoring the increased number of two income families, or even more. In london there are many hou
by chgs 3y ago
People comparing income multiples in the 80s with today aren’t factoring the increased number of two income families, or even more. In london there are many houses which in the 80s had one income, maybe one and a part time which today have 4 or 5 incomes in a HMO.
Meanwhile empty housing is at very low levels and barely makes a dent (about 1%)
When you have 4 professional adults sharing a 3 bedroom house, there’s a supply shortage.
- refurb 3y ago> People comparing income multiples in the 80s with today aren’t factoring the increased number of two income families, or even more. Two income families were common by the eighties. Women's participation in the workforce was >50% by 1980 and has only increased to 60%. https://ourworldindata.org/female-labor-supply https://ourworldindata.org/female-labor-supply
- acdha 3y agoWhat’s the income like, though? The further back you go, the more women were held back on hours or career advancement, while many traditionally male occupations had more opportunities & security. The World Bank figures that site uses include anyone who is “economically active” so a household in 1980 with a full-time father and a mother working part time at much lower wages still count as a two-income family the same as a dual-lawyer couple in 2020. The more interesting figure for me is the pay disparity halving over that period, which sounds like a lot of women moving from lower skill/hour jobs to better paying ones.