Interesting. The practical problem is the the median earner young person can’t afford these nicer, larger homes—and affordable starter homes or nice apartments in walkable neighborhoods are often hard to build due to zoning and building codes
Good grief Gale !! ...................The Myth of the Golden Years of Housing !!........How true !
Timely too !...........THAT was a revealing and refreshing read !!! Thanks very much !
You have forever won the hearts and minds and affections of the "Boomers" by committing to paper the FACTS that they have always known to be true DESPITE the "lying lefties" and their
attempts to paint them as pampered , prosperous , privileged and proper pecuniary prey for appalling , grasping politicians and other professional pathological puppeteers ! [ =Mostly Academics , Environmental Activists , Socialists { =Marxists! } , Bureaucrats and Billionaires !! ].
It’s too bad more people aren’t aware of Human Progress because they would educated by facts and therefore science. However, most people are interested in emotion and fear based sources that engage their lowest levels of consciousness instead. Thx HP for keepin it real.
It's the rate of change over time that we're looking at in these two variables. While median wages are typically 20% to 30% lower than average wages, they both have similar rates of change. We also note that we're looking at wages only, not total compensation which included benefits. According to the BLS, benefits typically add 30% to 40% to wages. If we compared median wages with benefits to average wages, they would be similar. Thank you for reading the article and your comments.
Problem with this argument is that it only applies in certain regions and inflation is poorly accounted for. Most people cannot fully own a house and a car because all of it goes to servicing debt.
Why so much debt? Because people can't afford the said nicer 'amenities'.
Don't even get me started on how we send more money to government via taxes now more than ever.
Ultimately, the boomer argument is that we (Gen X, millennials etc.) have nicer houses, but the problem is that banks own them, not us!
Interesting. The practical problem is the the median earner young person can’t afford these nicer, larger homes—and affordable starter homes or nice apartments in walkable neighborhoods are often hard to build due to zoning and building codes
Exactly. Economist Bryan Caplan argues that zoning and regulation have doubled he prices of housing in the last 50 years.
Good grief Gale !! ...................The Myth of the Golden Years of Housing !!........How true !
Timely too !...........THAT was a revealing and refreshing read !!! Thanks very much !
You have forever won the hearts and minds and affections of the "Boomers" by committing to paper the FACTS that they have always known to be true DESPITE the "lying lefties" and their
attempts to paint them as pampered , prosperous , privileged and proper pecuniary prey for appalling , grasping politicians and other professional pathological puppeteers ! [ =Mostly Academics , Environmental Activists , Socialists { =Marxists! } , Bureaucrats and Billionaires !! ].
It’s too bad more people aren’t aware of Human Progress because they would educated by facts and therefore science. However, most people are interested in emotion and fear based sources that engage their lowest levels of consciousness instead. Thx HP for keepin it real.
Why do you use median house price but average wage? If the wage distribution is more unequal your analysis will be
misleading.
It's the rate of change over time that we're looking at in these two variables. While median wages are typically 20% to 30% lower than average wages, they both have similar rates of change. We also note that we're looking at wages only, not total compensation which included benefits. According to the BLS, benefits typically add 30% to 40% to wages. If we compared median wages with benefits to average wages, they would be similar. Thank you for reading the article and your comments.
Problem with this argument is that it only applies in certain regions and inflation is poorly accounted for. Most people cannot fully own a house and a car because all of it goes to servicing debt.
Why so much debt? Because people can't afford the said nicer 'amenities'.
Don't even get me started on how we send more money to government via taxes now more than ever.
Ultimately, the boomer argument is that we (Gen X, millennials etc.) have nicer houses, but the problem is that banks own them, not us!
I appreciate the article though.