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this post was submitted on 03 Aug 2023
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As others have already stated, the job market is fine, the stocks are fine, but the ability to afford living day to day is worse than I have ever remembered. Here in my cheaper state here are some random prices:
Exactly. It all depends on which metrics you're looking at, and some are not even being looked at, conveniently enough for those with more money.
Buying power is not going down. Do you at least have a source for that?
I think you might be talking about the productivity-pay gap but it has nothing to do with purchasing power.
Inflation adjusted wages are going up: https://fred.stlouisfed.org/series/LES1252881600Q
I don’t agree with putting home prices in cpi, because a small number of home sales would dramatically swing inflation, so yeah while it’s a really critical number for people looking to buy a home it is not a good litmus test for the average purchasing power when there are better imputed metrics like “owner cost or equivalent rent”.
Housing costs are included in CPI. What I’m saying is i agree with the current methodology. Do you know what the current methodology is? It does make sense.