Remember, we produce more with less labor than we ever have before in history. If you are poorer than your parents while doing the same work, someone is ripping you off.
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My favorite explanation for why people can't afford a house on one salary anymore is that women entered the workforce, driving wages down. People just accept it as a natural fact that more people working causes workers to be poorer, when obviously the opposite should be true.
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The more people that are in the workforce, the more is produced, and the wealthier we should all be. Instead, wages are based on a brutal competition of who will take the least to live. The fact that society get wealthier doesn't matter if workers don't control the wealth.
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(although women were doing valuable labor outside the "workforce")
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Indeed. Somehow, when the country was much poorer than it is now, we could afford to have a better safety net then we do now.
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The concept of supply and demand applies to labor. Supply of labor is up. Demand for labor is down. Therefore the price of labor is down. If you wish to pontificate on economics, you should supplement your knowledge of philosophy with economics.
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Genuine question: are you saying that more people in the workforce should lead to higher wages?
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Economics dictate otherwise. Or else the opposite would be true.
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I think the readily available loans from Bank are responsible, artificially inflating the price of real estate
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