And then you’re still asking that question after everything has been explained to you like you’re a 5yo.
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But micro, you made that claim before bob posted the graph… was I just supposed to assume that you were making it up the whole time? You could have, in theory, posted a different source. Still could!
You continue to be stupid. I already very clearly admitted that Bob had that data all along. The data is not in question. I don’t have alternate data. I stopped contesting the point because Bob had that data and I didn’t notice it. Do you understand? Obviously not.
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I apologize for being combative, cheers and enjoy your weekend.
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Interesting yet you claimed that inflation was so much worse for the lower class based on absolutely nothing? Or was it because you can’t read a graph? Either way, strong work. I’m the dumb one ofc
Ikes,
what do you think I meant when I said congratulations on being right despite being illiterate?
Now that I’m just googling around, here’s something interesting:
The inflation rate experienced by the lowest income quintile is basically always higher than the rate experienced by the highest quintile. But that’s been untrue in the post-COVID period:
Difference in inflation rates between lowest and highest income quartiles in the United States from 2005 to 2021
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Bobman or spider,
I beg you, please tell Ikes he’s an idiot.
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You know damn well NMNM is invite only - nice try.
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Ban for doxxing! /s
The thing here is that first economist has it right. The second one are the super weirdos.
Also the fed has straight up dominated this post covid economy so far. USA#1 but actually mostly unironically from covid on wrt the economy.
Graph is certainly interesting but seems kinda … academic? I mean lowest quintile is something like 16k household right? So those big swings are differences of like 50 bucks a year in expense if the lower quintile had the higher quintile rate of inflation instead? (Assuming they spend whole income which seems safe)
Weird how no one has a reply of much substance to my counter that housing costs are only a huge issue in expensive cities, just the modern equivalent of the sarcastic “But who will build teh roads?”
Turns out who will build the roads is a relevant question!
It’s ok to just come out and say the quiet part out loud - why would anyone want to live in KC? Nobody’s complaining about the rents in Des Moines. We the people demand cheap housing in expensive, desirable cities with access to ramen and hipster axe throwing! Actually KC and Des Moines have those things. Hmmm…
https://www.rentcafe.com/average-rent-market-trends/us/oh/cincinnati/
The average rent for an apartment in Cincinnati is $1,306.
https://www.apartments.com/rent-market-trends/cincinnati-oh
How much has rent increased in Cincinnati?
How much has average rent changed in Cincinnati, OH? In the past year, rent has increased by 1.07%, which averages out to $12 more per month. Market Trends Over Time.
Doesn’t seem too bad? Far less than inflation. And access to Skyline Chili.
If it takes 3 jobs to buy a house, I would classify that as quite hard.
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Here is a question I am curious about.
When was the last time you changed your mind based on an online discussion?
I just changed my mind about quartile specified inflation rates v wages over the last 3 years, but I still think Ikes is dumb.
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Quintile, not quartile. There I go again.
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They weren’t full time jobs, and I think she’s down to one now that she’s had a baby. Also her husband works as some kind of semi-truck salesman with corporate accounts. I don’t get the impression he makes a shitload.
The point is neither of them make a ton of money, they just had a kid, and they were still able to buy a $300k-ish house in KC. Note that all this came up as a direct response to the idea that Gen Z can never afford a home. My position is that not all cities are that bad.