• Ricky Rigatoni@piefed.zip
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    4 days ago

    A single income family with two kids could afford a house in 1982. Adjusting for inflation doesn’t mean shit if you don’t factor in actual buying power.

    • mursejoy@lemmy.zip
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      4 days ago

      This is exactly the point people miss.

      A single income family was doing an annual family vacation, buying a house, and owning a car or two.

      We’ve moved to the average family being dual income to support kids and little to no family vacations.

    • village604@adultswim.fan
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      4 days ago

      Adjusting for inflation is adjusting for buying power.

      Inflation is the loss of buying power per unit of currency