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      10-14-2019, 01:54 PM   #108
Soterios
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Drives: 2012 135i
Join Date: Jun 2018
Location: Missouri

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Quote:
Originally Posted by SteveinArizona View Post
I'm glad you graduated with no student debt but your anecdotal example doesn't prove anything.

"Inflation Examples
For example, the Bureau of Census reports that the average price of a new home in May 1999 was $193,900. According to the inflation calculator, that price today should be $298,774. The same report places the average sale price for May 2019 at $377,200, more than 26 percent higher than the price when accounting for inflation alone.

The same method can be applied to see if household incomes have similarly increased. The median household income in 1999 was $42,000, according to the Census Bureau. According to the inflation calculator, that price today should be $64,716. The most recent year with full data available is 2018, which places household income at $61,227, meaning that it has failed to keep up with inflation and is 5% below where it should be."

from Investopedia but note that it is citing to census bureau data. And this data doesn't account for the fact that there are many more two earner homes today than 20 years ago.
No stop. These numbers hurt the boomer narrative that the young generations are lazy and not working hard enough!
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