Income v. Housing
It ain’t rocket science! The media has done a lousy job of telling the story of what has happened to wages versus buying power and houses over the last decades. Wages have stagnated for over 40 years! Reporters here are too concerned about the newest brew house opening and other trash news. They moan, “There’s no affordable housing here.” None have done researched pieces on the facts!
Most workers have no clue as to what has happened to their buying power.
Adjusted for inflation, the federal minimum wage peaked in 1968 at $8.68 (in 2016 dollars). Since it was last raised in 2009, to the current $7.25 per hour, the federal minimum has lost about 9.6 percent of its purchasing power to inflation.
