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86 comments
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Average wage index in 1999: $30,469.84
Average wage index in 2023: $66,621.80
So wages roughly doubled, while the house now costs 8x as much. Yep, sounds about right.
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False claims, don't spread misinformation
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Lately I've been seeing a lot of people replying to whatever the top comment is and calling it disinformation with no proof
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I think it's just trolls who say it sarcastically and think it's funny.
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even if it weren't trolling, saying "you're wrong" and providing no argument whatsoever, is not a very convincing way of saying something.
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That's why they're trolls, and not conversationalists. If they provided an actual valid argument, that wouldn't be trolling.
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yeah makes sense to me :)
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That's just like, your opinion, man.
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NUH UH
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What are you talking about?
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groll reported SSI AWI. The metric is calculated by average W2 earnings, which reports individual earnings, and would be somewhat resilient to being skewed by the super rich.
These values also scale close to the "median household income" increasing from $40k to $80k over the same time period.
The house was listed at 8.6x it's price over the same time period. We don't have any particular reason to think that this instance is false, and is characteristic of many constrained markets.
It is fair to say that this home uncharacteristic of the market as a whole - median house price (mspus) only increased 2.66x over the same period.
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86 comments