Loading ...Worse Off Now? Real Wages Have Declined Since Nov. 2020
46% of voters in key states said that their family was worse off now than it was four years ago, the highest ever in presidential exit polls…
https://www.zerohedge.com/personal-finance/worse-now-real-wages-have-declined-nov-2020
How do you fix prices (food, housing, etc) without putting 10% or more out in the streets in tent cities?
The answer is to reduce the real cost basis for everything from Bubble levels, but how to do that seems impossible. Real estate (land prices) underpins costs.
The only guidance I have is to cut public spending drastically and find ways to offset that with private supply. Think Victory Gardens but in a greatly expanded definition.
Does anyone know how to calculate a time series for US population divided by square footage of RRE? Are prices high because everyone wants 1000 square feet per person? (and five acres?)
from 2016
With the average new house in the US getting larger in size at the same time that American households are getting smaller, the square footage of living space per person in a new US house has increased from 507 to 971 square feet using the median size house, and from 551 to 1,058 square feet using the average size house …Jun 5, 2016
Since the 1890s, household size has declined dramatically. As a consequence, the average square feet of living space for capita has grown. In the 1890s, Americans had an average of 400 square feet of residential space per person. But by the early 21st century, that figure had doubled to 800 square feet. This is a change worth noting, and it’s one that has progressed at a relatively steady rate, with little fluctuation.
So the cost of living has risen, including for housing, but are they properly accounting for the fact that people insist on more elbow room? Paying double but demanding double as well?
Excellent questions — never thought about this angle — sounds logical!