> You can make this burger with only 4 ingredients!
> Lists 6 ingredients
😠😤😡
> Lists 6 ingredients
😠😤😡
From Poor Chat:
Never comment on a post here. Big mistake.
Another one:
Lel that's what I get for commenting
Never comment on a post here. Big mistake.
Another one:
I got the same message.
Twitter folks have fun just making up numbers.
I ran some calculations using real numbers. The reality is that rent has gone up more... But only about 1.08x as much more.
Average rent is now something like an extra $100 a month as a high ball compared to if it had increased at the same rate as income.
... On a related note, does anybody know much about the differences in apartments between now and the 1990? Wondering if maybe you could strengthen his claim after I tore it down by saying that they pay $100 extra but it's for less space, for instance
I ran some calculations using real numbers. The reality is that rent has gone up more... But only about 1.08x as much more.
Average rent is now something like an extra $100 a month as a high ball compared to if it had increased at the same rate as income.
... On a related note, does anybody know much about the differences in apartments between now and the 1990? Wondering if maybe you could strengthen his claim after I tore it down by saying that they pay $100 extra but it's for less space, for instance
THE Philosopher
Twitter folks have fun just making up numbers. I ran some calculations using real numbers. The reality is that rent has gone up more... But only about 1.08x as much more. Average rent is now something like an extra $100 a month as a high ball compared to…
Covering this topic with more precision and care.
I believe I'd used individual income as a metric before. However, upon reflecting on this, it's more appropriate to use household income. According to the US Census, the median household income in 1990 was $29.9k, having fallen from $30.5k in 1989, the first decrease in average earnings in almost a decade (https://www2.census.gov/prod2/popscan/p60-174.pdf).
What about the current year? We don't have data that recent. But the estimate of median household income for 2022 is $74.6k (https://www.census.gov/library/publications/2023/demo/p60-279.html). Interestingly, this was another year of decline, this time from the 2021 estimate of $76.3k.
So, median family income in 2022 was about 250% of what it was in 1990.
What about rent price? Previously, I had used a different set of data for this. But for consistency let's stick with the Census data. According to the historic Census data (https://www2.census.gov/programs-surveys/decennial/tables/time-series/coh-grossrents/grossrents-unadj.txt) the unadjusted median gross rent in 1990 was $447.
Given that and assuming rent changed at the same rate as income, we'd expect 2022 median rent to be about $1,118 per month, an increase of $671 since 1990.
What we find in the real world is that the median rent was at $1,300 for Americans in the year 2022 (https://data.census.gov/table/ACSDP1Y2022.DP04?tid=ACSDP5Y2022.DP04). That's an increase of $853 since 1990. The excess increase is at about 27%. My previous estimate relying on non-census data and individual income was a bit lower, but way closer to this than the excess of over 450% suggested by Dylan.
To put this in real terms, if rent had gone up at exactly the same rate as income, the average American household would be paying rent that's about $182 cheaper per month. Dylan suggests that number is $1,167.
I believe I'd used individual income as a metric before. However, upon reflecting on this, it's more appropriate to use household income. According to the US Census, the median household income in 1990 was $29.9k, having fallen from $30.5k in 1989, the first decrease in average earnings in almost a decade (https://www2.census.gov/prod2/popscan/p60-174.pdf).
What about the current year? We don't have data that recent. But the estimate of median household income for 2022 is $74.6k (https://www.census.gov/library/publications/2023/demo/p60-279.html). Interestingly, this was another year of decline, this time from the 2021 estimate of $76.3k.
So, median family income in 2022 was about 250% of what it was in 1990.
What about rent price? Previously, I had used a different set of data for this. But for consistency let's stick with the Census data. According to the historic Census data (https://www2.census.gov/programs-surveys/decennial/tables/time-series/coh-grossrents/grossrents-unadj.txt) the unadjusted median gross rent in 1990 was $447.
Given that and assuming rent changed at the same rate as income, we'd expect 2022 median rent to be about $1,118 per month, an increase of $671 since 1990.
What we find in the real world is that the median rent was at $1,300 for Americans in the year 2022 (https://data.census.gov/table/ACSDP1Y2022.DP04?tid=ACSDP5Y2022.DP04). That's an increase of $853 since 1990. The excess increase is at about 27%. My previous estimate relying on non-census data and individual income was a bit lower, but way closer to this than the excess of over 450% suggested by Dylan.
To put this in real terms, if rent had gone up at exactly the same rate as income, the average American household would be paying rent that's about $182 cheaper per month. Dylan suggests that number is $1,167.
THE Philosopher
Covering this topic with more precision and care. I believe I'd used individual income as a metric before. However, upon reflecting on this, it's more appropriate to use household income. According to the US Census, the median household income in 1990 was…
Just discovered: this is the amount for rent + whatever utilities the renter is to pay:
Was looking into this just to make sure I wasn't underestimating rent value due to people paying no rent being included for some reason. Confirmed that they're not:
See pages 19 and 20 here: https://www2.census.gov/programs-surveys/acs/tech_docs/subject_definitions/2022_ACSSubjectDefinitions.pdf
Gross rent is the contract rent plus the estimated average monthly cost of utilities (electricity, gas, and water and sewer) and fuels (oil, coal, kerosene, wood, etc.) if these are paid by the renter (or paid for the renter by someone else). Gross rent is intended to eliminate differentials that result from varying practices with respect to the inclusion of utilities and fuels as part of the rental payment.
Was looking into this just to make sure I wasn't underestimating rent value due to people paying no rent being included for some reason. Confirmed that they're not:
In computing median gross rent, units reported as “No rent paid” are excluded.
See pages 19 and 20 here: https://www2.census.gov/programs-surveys/acs/tech_docs/subject_definitions/2022_ACSSubjectDefinitions.pdf
Forwarded from Et In Arcadia Ego (Alt Skull️)
Aerial view of Winnipeg before and after the installation of LED streetlights.
They’re turning entire cities into one giant Walmart.
@AltSkull48
They’re turning entire cities into one giant Walmart.
@AltSkull48
Boomers did have it easier, but Millennials and Zoomers can move out on their own if they make some nominal sacrifices. They mostly just don't like the idea of their standard of living dipping when they move out (or, in some cases, just don't know this stuff because they've swallowed too many black pills).