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A millennial couple who make $250,000 say they can't find a home in their budget: 'We refuse to become house-poor'
(www.businessinsider.com)
this post was submitted on 14 Aug 2024
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Salaries are not "going through the roof", that's ridiculous. Salaries haven't come close to staying in line with the cost of living, and especially house prices, for decades. It's been thoroughly shown companies have been lying about employee compensation being the main cause for inflation and high prices. The real reason is corporate greed.
Is that not what I said? My point was that 50 years ago 75k was more than enough money to buy a house. Salaries have increased, but prices have increased much more because companies charge 150-200% for every unit of currency off labour put into goods and services. Increasing the minimum wage would only fortify this effect unless companies are held accountable for this.