The American Enterprise Institute is a neoconservative organization. Of course they’re going to claim wages haven’t stagnated, just like their corporate masters want them to.
Real means it has, considering $40 in 1960 would be worth $400 today if it hasn’t been adjusted for inflation we’d be making four times less money so that doesn’t make sense
Great. Now explain how a single income working a low-wage job in 1960 could afford an entire house and now someone like that can’t even afford to rent without multiple roommates. Because wages haven’t stagnated, right?
The American Enterprise Institute is a neoconservative organization. Of course they’re going to claim wages haven’t stagnated, just like their corporate masters want them to.
Wages have stagnated since the 1970s, but have steadily gone up since the 1980s
There’s also an argument to be made that since insurance premiums have gone up, and companies pay bigger benefits
https://fred.stlouisfed.org/series/COMPRNFB
That doesn’t appear to be adjusted for inflation.
Real means it has, considering $40 in 1960 would be worth $400 today if it hasn’t been adjusted for inflation we’d be making four times less money so that doesn’t make sense
Great. Now explain how a single income working a low-wage job in 1960 could afford an entire house and now someone like that can’t even afford to rent without multiple roommates. Because wages haven’t stagnated, right?
Oh, and here’s a shit ton of evidence that you’re wrong. Note that organization isn’t a bank or a right-wing think tank like the ones you’ve provided, i.e. they have no skin in the game.
If they could, why didn’t they? Home ownership was just the same back then as now
https://fredblog.stlouisfed.org/2023/03/when-comparing-wages-and-worker-productivity-the-price-measure-matters/
Uh… they did. Are you really not aware of who was able to buy a home then compared to now?
https://markets.businessinsider.com/news/stocks/housing-market-home-prices-ownership-costs-unaffordable-mortgage-payments-wages-2023-9?op=1
Home ownership rate over time:
https://fred.stlouisfed.org/series/RHORUSQ156N
You keep using a bank with a vested interest for those figures. I used a neutral source, which you entirely ignored. You are not here in good faith.