Actual data* Over the past 20 years: - Median income up 2.2% - Housing prices up 5.7% - College tuition up 111% *inflation-adjusted https://twitter.com/justinjm1/status/1156991889637289990 …
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Agreed. Ideally you would do this by metro area so you could capture both local income changes and local housing changes
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(Median home price * average commute in minutes)
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Not CPI, which is a useless measure with a failed metric (owner equivalent rents) added back in 1983.
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The sad part is all the economists that come on like preachers swearing on their inflation bible - https://www.bls.gov/opub/btn/volume-2/owners-equivalent-rent-and-the-consumer-price-index-30-years-and-counting.htm …
End of conversation
New conversation -
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As housing grows as % of people’s income it will always just track more with overall inflation. More interesting to me is what would inflation and real wage growth be if each year nominal housing growth was 1/2 what it was. Probably 20% median wage growth instead of 2%.
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