Housing is about 1/3 of CPI. For the median person, their income has increased relative to costs. For many people, it has not, and they have a right to be pissed, but statistically, it looks like people are a little better off comparedto 2019. Don’t get me wrong; even the people who are better off should be pissed about the continued, obscene income/wealth disparity, but that’s a different topic.
Edit: I agree that it’s bad messaging politically, but I find the data and sentiment disconnect interesting. It looks similar to the crime data and sentiment disconnect.
The method of estimating a homeowner’s equivalent rental charges was this question:
“If someone were to rent your home today, how much do you think it would rent for monthly, unfurnished and without utilities?”
So that number seems like it will either be a total ass pull or will be based on the already average rents in the area. Seems like an unreliable dataset to me.
Housing is about 1/3 of CPI. For the median person, their income has increased relative to costs. For many people, it has not, and they have a right to be pissed, but statistically, it looks like people are a little better off comparedto 2019. Don’t get me wrong; even the people who are better off should be pissed about the continued, obscene income/wealth disparity, but that’s a different topic.
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Not sure that would matter. Housing costs for homeowners are calculated by how much rent they would have to pay in their housing market if they were renting: https://www.bls.gov/cpi/factsheets/owners-equivalent-rent-and-rent.htm
Edit: I agree that it’s bad messaging politically, but I find the data and sentiment disconnect interesting. It looks similar to the crime data and sentiment disconnect.
The method of estimating a homeowner’s equivalent rental charges was this question:
So that number seems like it will either be a total ass pull or will be based on the already average rents in the area. Seems like an unreliable dataset to me.
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