The author (Cato Institute scholar) presents a super limited view of the economy. In 1967, only 5 percent of US families earned over $150,000 (inflatio

The author (Cato Institute scholar) presents a super limited view of the economy. In 1967, only 5 percent of US families earned over $150,000 (inflation adjusted). One example is that the $150k club grows in inverse proportion to home affordability. In 1960, approximately 68 out of 100 Americans could afford to buy a home. However, by 2019, this number had dropped to about 43 out of 100 Americans. ref: https://www.thezebra.com/resources/home/housing-trends-visualized/ https://www.thezebra.com/resources/home/housing-trends-visua... ref: https://www.thezebra.com/resources/research/homeownership-statistics/ https://www.thezebra.com/resources/research/homeownership-st... ref: https://listwithclever.com/research/home-price-v-income-historical-study/ https://listwithclever.com/research/home-price-v-income-hist...