One explanation I heard is that the despondency comes from young people struggling with runaway rents. But wages have risen faster for them than the old, outpacing rents.
Huh?
I looked at the apartment I lived in 12 years ago and the rent has doubled. Where have wages doubled in that time? Our second apartment has not quite doubled, but increased around 70%. Rent prices all over the country are madness.
Oh, he’s only going back to 2020…
The graph in his “much wealthier” link also doesn’t scream “much wealthier” to me–it looks more like “finally recovering from 2008”. But if we’re pretending 2020 was the start, sure, it’s amazing.
So maybe the takeaway from this is “the economy isn’t bad if you use a tight enough time window.”
This is why all statistics and survey results need to be read carefully. Statistics can say damn near anything with creative use of language and scope.
Huh?
I looked at the apartment I lived in 12 years ago and the rent has doubled. Where have wages doubled in that time? Our second apartment has not quite doubled, but increased around 70%. Rent prices all over the country are madness.
Oh, he’s only going back to 2020…
The graph in his “much wealthier” link also doesn’t scream “much wealthier” to me–it looks more like “finally recovering from 2008”. But if we’re pretending 2020 was the start, sure, it’s amazing.
So maybe the takeaway from this is “the economy isn’t bad if you use a tight enough time window.”
This is why all statistics and survey results need to be read carefully. Statistics can say damn near anything with creative use of language and scope.