Loading ...I remember the old days. Out of high school you took a minimum wage job, and after 2 or 3 years you went from $1.40/hr ($28/hr) to $2/hr , ($40/hr today) you had a new car and girl friend and some savings and move out to an apartment first. Then a couple years after that, at $3.50/hr ($70/hr today) you buy a house.
When you said houses are usually based on salary? It reminded me of something that proves how low salaries are. Ya know how they make food packages with smaller amounts inside, rather than raise prices or instead of raising prices so people buy?
Well with Houses and Cars, they gradually made the borrow loan rate smaller instead. From 18% in 1980 on a $40k house to about 3% today on a $400k house. So in reality, they screwed the savers. Savers with a lousy one or two hundred grand savings, could live off the interest. Like renting out the money, for retirement.
They screwed the tax paying producers too, by farming out all the taxable industrial production jobs profits. But now its all catching up to the US gov’t. The tax absorbing cops were making about $5/hr about $10,000/yr times 20 and make about $200k today around me. $5,000 to $10,000/ year $2.50 to $5.00/hr was middle class one bread winner.
Who really cares anymore? The gov’ts and big businesses. They must be caring. Too many empty retail stores, states and people on welfare, grants, phony unneeded tax absorbing jobs etc. Small businesses not much profit to pay taxes on.