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A millennial couple who make $250,000 say they can't find a home in their budget: 'We refuse to become house-poor'
(www.businessinsider.com)
this post was submitted on 14 Aug 2024
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It amazes me that some folks will just say 'everything is more expensive, raise the minimum wage'. Salaries are going through the roof everywhere and cost is following suit.
If companies would stop counting 150-200% overhead on goods and services for employees' salaries we wouldn't need to all be millionaires in order to get by. If we were to source more stuff locally transport costs would be much lower. If we used our goods longer, tried to get by with less, we could do longer with our cash.
But we all see these hyper rich folks and we want to be like them, live like them, have what they have. It's not a sustainable situation.
Salaries are not "going through the roof", that's ridiculous. Salaries haven't come close to staying in line with the cost of living, and especially house prices, for decades. It's been thoroughly shown companies have been lying about employee compensation being the main cause for inflation and high prices. The real reason is corporate greed.
Is that not what I said? My point was that 50 years ago 75k was more than enough money to buy a house. Salaries have increased, but prices have increased much more because companies charge 150-200% for every unit of currency off labour put into goods and services. Increasing the minimum wage would only fortify this effect unless companies are held accountable for this.