this post was submitted on 31 May 2024
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submitted 1 year ago* (last edited 1 year ago) by balderdash9@lemmy.zip to c/memes@lemmy.world
 
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[โ€“] Hildegarde@lemmy.world 119 points 1 year ago (35 children)

So maths time...

If that cart is a weeks of groceries, it takes 1250 weeks of groceries to buy a house in 1980.

According to a 2024 USA today article the average family with kids spends $331 per week on groceries.

If the groceries per house ratio stayed the same, a house would be $413,750 in 2024.

The U.S. median home price was $412,000 in September 2023, according to Redfin.

I dunno seems pretty proportionate.

[โ€“] MrShankles@reddthat.com 13 points 1 year ago

Inflation vs income

Income hasn't kept up with inflation, so you have a widening gap

The prices may be proportional, but the average "purchasing power" has decreased. Most family units have more than a single income now, but they still struggle.

Inflation goes up (which devalues our income), but our wages have gone up much slower... so we have a widening gap of "purchasing power" that people's budget can feel

The "prices" may be proportional, but the ability to afford them is certainly not

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