Mastodawn

Data Points:

Federal Minimum Wage
1970 - $1.45
2023 - $7.25

Median Home Price (US)
1970 - $23k
2023 - $431k

In 1970, the down payment on a home (15% or $3,450) would take ~3,000 hours (after tax) or 1-1/2 years at FMW (40 hours a week).

In 2023, it would take ~10,790 FMW hours (after tax), or 5 years 3 months AND you'd never be able to afford the payments.

...

This is a good thing to remember when the older generations mock the younger for not building wealth as they did.

@PadreSJ Yeah, whoever came up with the idea to price every shitty house like a mansion should go fuck themselves.

@myselfig @PadreSJ It's a combo of house pricing being extortionate and work not paying enough, it's fucked both ways.