this post was submitted on 09 Jun 2024
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Except the uptick is from 1990, it's been getting better for about 34 years now, with setbacks in the dotcom crash, financial crisis and the pandemic.
There haven't been better wages at any point in US history as we beat the uptick of the 1970s some time ago
Wages have been stagnating with respect to productivity, disparity is rising, home ownership is becoming more impossible for the average person, and the bulk of this decline is exported to the Global South which we brutally exploit for cheaper goods.
Home ownership rate has been steady for decades
The wages have been going up, just not exactly as fast productivity for several reasons:
That certainly doesn't look steady, lol. Large investment firms and banks are buying up a large number of single family housing, making it unaffordable.
Wages do go up, yes, with respect to inflation. They get nowhere close to productivity increases, as exploitation rises.
Look at the scale, it's between 63-68 for decades and the top number was literally a bubble
I agree that not all of the productivity gains go to the workers, but the workers are better off now than before
I am referring to the literal times we live in. Single-family housing units are being gobbled up by large firms, this will not show up on your graph just yet.
The Workers are now recieving even less of the Value they create than before, that's a wild way to justify this.
Corporations owning houses is a tiny percentage, again, home ownership rate is 60%+
It is not a tiny percentage, and it is getting worse.
It's not even a special problem if a corp is a landlord or just one person.
The problem is not enough housing, not enough construction. Housing prices are actually decreasing in Austin because Texas builds
Landlords are problems themselves, it doesn't matter if it's a corp or a person.
The problem is NIMBYs, not landlords
The problem is Landlords.
Why? It's impossible for all of the homes to be owned, we've been between 63-68% home ownership
In fact, a nasty thing happened when the home ownership peaked around 2008
Public and individual ownership. Renting for profit is predatory.
Not everyone can just pay a down payment on a property
The government doesn't have the money to buy every property
Is that what I am advocating for?