return2ozma@lemmy.world to News@lemmy.world · 11 months agoRenters need to make roughly $20,000 more a year to afford the typical rent than they did 5 years agofortune.comexternal-linkmessage-square77linkfedilinkarrow-up1474arrow-down15
arrow-up1469arrow-down1external-linkRenters need to make roughly $20,000 more a year to afford the typical rent than they did 5 years agofortune.comreturn2ozma@lemmy.world to News@lemmy.world · 11 months agomessage-square77linkfedilink
minus-squarecanihasaccount@lemmy.worldlinkfedilinkarrow-up5arrow-down4·11 months agoIt did, actually: https://fred.stlouisfed.org/series/LES1252881500Q
minus-squarejordanlund@lemmy.worldlinkfedilinkarrow-up16·edit-211 months ago951 to 1136, Q1 2020 to Q1 2024. +19.45% from Q1 2020, which doesn’t help you if rent is +30% and inflation in general hit +9%. Q1 2019 was 899, so +26%, a little closer. But the REAL problem is workers don’t see that gain unless they change jobs. Working the same job year after year you’re lucky to get 4% per year.
It did, actually: https://fred.stlouisfed.org/series/LES1252881500Q
951 to 1136, Q1 2020 to Q1 2024.
+19.45% from Q1 2020, which doesn’t help you if rent is +30% and inflation in general hit +9%.
Q1 2019 was 899, so +26%, a little closer.
But the REAL problem is workers don’t see that gain unless they change jobs. Working the same job year after year you’re lucky to get 4% per year.