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This is widely believed, but not true: https://fred.stlouisfed.org/series/MEHOINUSA672N https://fred.stlouisfed.org/series/MEHOINUSA672N. There is a real issue
by orangecat 2mo ago
This is widely believed, but not true: https://fred.stlouisfed.org/series/MEHOINUSA672N https://fred.stlouisfed.org/series/MEHOINUSA672N.
There is a real issue that housing is unreasonably expensive in many areas, which we could fix via the innovative strategy of not making it illegal to build housing.
- ryandrake 2mo agoNow plot that wage plot against productivity, or corporate profit, or any US stock index, or as you said: housing costs. Real wages are not keeping up with anything. It's not just housing.
- dghlsakjg 2mo agoThat data exists. Here is real wages with cost of living factored in for a bunch of locations in the US. https://fred.stlouisfed.org/release?rid=439 https://fred.stlouisfed.org/release?rid=439 This data shows that real wages are rising even with cost of living factored in.
- RiverCrochet 2mo agoThe price of food/groceries has doubled over the last few years. The price of new cars is also much higher than it has been. All money I used to allocate to eating out in restuarants now goes to groceries. My next car purchase will be a used car. So there are workarounds for now, but if the trend doesn't stop, soon there will be no more workarounds. Only so many people can get the high-wage jobs.