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Notes -
I’m going to somewhat disagree. There are a lot of affordability issues, especially for young adults. That’s a bit harder to pick up on because when you aggregate everyone in the workforce, you capture the big raises that go to some sectors of the economy and not the stagnation in others. You also capture a COL that can miss that some things have gone up massively while others have not.
If you’re in your twenties, the things that have gone up in cost (for example homes) are things that matter a lot to you, and that take up a bigger chunk of your potential budget. In the case of homes, you also don’t have a home to sell to raise money for that home. If im trading a house for a bigger house, I only need to come up with the money to afford the increase, I already have a house to sell. If you move on to groceries, an increase of ten percent is going to be huge if groceries are 15% of the budget.
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