this post was submitted on 30 Jun 2023
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The US has historically low unemployment, but real wages have stagnated for more than 50 years.
The economy is actually pretty great -- for those at the top. Not so much for those doing the real work:
I assume the second graph is basing inflation on CPI as well and if I'm not mistaken that would mean dollars spent on mortgages are equivalent to dollars spent on rent.
I would argue that as home ownership goes down inflation would become more impactful as you do not build wealth with rent but can with a mortgage.