The minimum wage seems to have increased significantly in the last couple of years. If this discussion was happening in 2008…the minimum wage has increased by 50% . And I really don’t think that the AVERAGE income has increased THAT much in the last few years – from 60K in 1996 to 90K now? Average for the same job/#years experience. I don’t think so. Does anybody disagree with that?
I am sure for most of us the salaries have increased. But even then (i.e. increased experience by 10+ years) unless you were relative fresh out of school/academia then, I don’t think the salaries have doubled for most of us.
The problem is we are in a very unstable rapidly changing economic/financial environment, so the argument that if the goods prices have doubled then the home prices should also double – even if the income has not doubled – does not hold much water…
