- Salaries:
- According to Moneywise, salaries have fallen by an average of 8.2% over the last five years.
- This decline in salaries can have significant implications for individuals and households, affecting their purchasing power and financial stability.
- House Prices:
- Despite the decline in salaries, house prices have risen by an average of 56% during the same period.
- The increase in house prices can be attributed to various factors, including demand-supply dynamics, low interest rates, and speculative investment in real estate.
- Salaries vs. Inflation:
- 97% of occupations’ salaries have failed to keep up with inflation over the last five years.
- When salaries do not keep pace with inflation, it can lead to a decrease in real income, making it harder for individuals to maintain their standard of living.
Sources:
Salaries have fallen by an average of 8.2% in the last five years, per Moneywise.
Despite this, house prices have risen by an average of 56% in the last 5 years.
— unusual_whales (@unusual_whales) July 1, 2024
97% of occupations' salaries have failed to keep up with inflation over the last five years.
Read more: t.co/MmEq5y93lb
— unusual_whales (@unusual_whales) July 2, 2024
So if salaries are down 8% and prices are up 100%
How are people paying for things
— Alex Berman 👑 Galadon (@alxberman) July 1, 2024
Americans increasingly turned to their credit cards to make ends meet heading into the summer, sending aggregate balances over $1 trillion for the first time ever, the New York Federal Reserve reports. t.co/AOEgYTG8aV
— NBC News (@NBCNews) August 8, 2023