“Housing has become so financially burdensome in America that some families can no longer afford other essentials,” Redfin’s economics research lead said.
The problem on your chart is the giant section where inflation peaked at 9% and wage growth was under 6%.
That means a pay cut of 3%, and while inflation is reduced NOW, that doesn’t mean prices are going DOWN, they are simply going up less fast than they were when inflation was 9%.
Yes, I understand this point. Which is why I explicitly said “I know that’s of little comfort to those who have fallen behind and need to catch up.” I know that your point is always what follows, which is why I preempted it.
Additionally, I was responding to a claim that wages have stagnated. This is not true, as my link shows, even if we are more strictly talking about inflation adjusted wages. So the link doesn’t have a “problem.”
The problem on your chart is the giant section where inflation peaked at 9% and wage growth was under 6%.
That means a pay cut of 3%, and while inflation is reduced NOW, that doesn’t mean prices are going DOWN, they are simply going up less fast than they were when inflation was 9%.
Yes, I understand this point. Which is why I explicitly said “I know that’s of little comfort to those who have fallen behind and need to catch up.” I know that your point is always what follows, which is why I preempted it.
Additionally, I was responding to a claim that wages have stagnated. This is not true, as my link shows, even if we are more strictly talking about inflation adjusted wages. So the link doesn’t have a “problem.”