Life is already so hard. I’m fortunate enough to have bought a home a couple years ago (albeit very small and old (built in 1908)) and I’m just curious if economically there’s a chance that things ever get easier. What I mean by that is a better income to housing price ratio, better income to food price, better income to hygiene products, the whole package.
Overall, is it feasible that in the US we will start to make more money relative to the cost of necessities of living? Or will it just get harder from here. In my lifetime it seems to have only gotten harder, though I am somewhat young. Thank you.
Will it ever get easier?
byu/occasionallyvertical inAskEconomics
Posted by occasionallyvertical
2 Comments
Food prices as a percent of income have dropped almost 80% over the last 50 years. It’s not all doom and gloom
Incomes have (generally) been rising faster than inflation for the past decade. A few years post-COVID was an exception to that. Moreover, when you’re young that’s usually the lowest income point in your life – you make more as you get older and develop your career.
[Employed full time: Median usual weekly real earnings: Wage and salary workers: 16 years and over (LES1252881600Q) | FRED | St. Louis Fed](https://fred.stlouisfed.org/series/LES1252881600Q)
Your personal experience may not match what’s average or typical.