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But the median wage is up 40% in the last 15 years... If your pay has been constant, you're getting salary decreases in real terms.
by verteu 3y ago
But the median wage is up 40% in the last 15 years... If your pay has been constant, you're getting salary decreases in real terms.
- _mlbt 3y agoThat's great, but how much has the price of housing, food, cars, energy, and a college education increased during that time frame?
- deleted 3y ago[deleted]
- verteu 3y agoMy other comment in this thread compares the growth of CPI and wages (wages grew faster).
- _mlbt 3y agoCPI doesn’t properly account for these factors that I mentioned.
- verteu 3y agoCPI includes housing, food, cars, & energy. You're welcome to check an alternate metric (eg Truflation), but they're all quite similar to CPI.
- yftsui 3y agoA simple Google search will give you an obvious result: “Spending to purchase and improve houses and other housing units is treated as investment and not consumption in the CPI.” You are welcome.
- verteu 3y agoRight, that's covered by "owner's equivalent rent." This is LOWER than what homeowners actually pay. (Think about it -- Do landlords make negative `profit = home_payment_expenses - rent`?) Any why would GGP mention food, cars, and energy? They are directly included in the CPI. I think it's more likely that GGP is under the false impression that these items are excluded from the CPI -- It's a conspiracy theory originating from economists' practice of using "CPI Excluding Food, Shelter, Energy, and Used Cars and Trucks" as a lower-variance estimate of the future inflation rate. > You are welcome. Skip the snark, it's against HN guidelines.