10/ Tedious nit pick. The entire thread, starting with the OP, is abstracting away intra-generational differences, and by diving into this you muddy the discussion that's actually going on. https://twitter.com/amurshak/status/1303324683627106306 …
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11/ "This apple pie recipe requires two pounds of apples and one pound of flour" YES, BUT NOT ALL APPLES ARE THE SAME SIZE. I know. I know. But that's totally irrelevant to the point being discussed.
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ⓘ Dogs don't have thumbs Retweeted BitterApplesauce
12/ Nothing in my argument addresses the power of envy. I am merely criticizing the data presented.https://twitter.com/bitterclinger4e/status/1303325116407971842 …
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ⓘ Dogs don't have thumbs Retweeted Jakethecrazy 🦬
13/ Agreed, but orthogonal to my point.https://twitter.com/Jakethecrazy19/status/1303330374689357824 …
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ⓘ Dogs don't have thumbs Retweeted Señor Bob
14/ this is another good point: if generation N has low consumption and high savings, and generation N+1 or N+2 has the reverse, the latter generations will never accumulate wealth ... EVEN IF THEIR INCOMES ARE HIGHER !https://twitter.com/Bobthewelding1/status/1313846236190068737 …
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ⓘ Dogs don't have thumbs Retweeted Jason Steiner
15/ I don't care if it "flies". I analyze facts, I don't pander to demographics.https://twitter.com/ernunnos/status/1313856112312057858 …
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ⓘ Dogs don't have thumbs Retweeted Wyrm Hatcher
16/ average US HOUSEHOLD income in 1977 was $13,570; so that wage number is nonsense. use inflation tools: $55k house = $235k (check) $13k = $58k (check) avg house size 1977 = 1660 ft^2 in 2020 = 2,687 ft^2https://twitter.com/Wyrm_00_/status/1313864121625047040 …
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Wyrm Hatcher @Hatcher_WyrmIn 1977, avg house cost 55k, factory work paid 15-20k, new car was 5k, college was 3k year. This situation was made possible by State intervention in markets (protectionism) & organized labor movements. Boomer wealth is entirely product of early/cheap home ownership https://twitter.com/MorlockP/status/1303322451087163393 …6 replies 1 retweet 6 likesShow this thread -
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Replying to @HeadwaysMatter
indeed which is correlated with average size of existing housing pull the details if you want, but they're broadly the same ratio
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Replying to @MorlockP @HeadwaysMatter
That’s a wild number. Average home valuation on my humble street is probably $370k, if recent sales and refinancing are any indication. I don’t think a single one tops 2000 sq ft.
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your location is one of Blue regulations and old growth ; you'll find that the sunbelt is radically different I mean, I was in MA myself, and my circa 1947 house was 800 ft^2 when I bought it, and maybe 1,500 ft^2 after I did three additions..
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