Pay vs Inflation Calculator

[doodii]

Yah. Biden has actually had a great presidency.

The haters can’t stand that Biden destroyed Russia

HAHAHAHAHAHAHAHAHAHA

 

[ChuckNovember]

Over 40% of the Core CPI inflation index's value comes from housing/shelter inflation. So important to note that if you've been renting for Philly's sample time period you have seen the cost of rent expenditures increase over 33%, but if you own your home you have seen the value of an asset increase by at least that much.

 

[Acquired Taste]

Over 40% of the Core CPI inflation index's value comes from housing/shelter inflation. So important to note that if you've been renting for Philly's sample time period you have seen the cost of rent expenditures increase over 33%, but if you own your home you have seen the value of an asset increase by at least that much.

Also important to note that when they calculate the increase in shelter cost, they don't use actual rents which are readily available to use for data. They use a made up number called owners equivalent rent that no one actually pays which is derived by methods that are suspect at best. Meanwhile actual rents are up way more than 33% in the past 11 years. I'd say median rents have probably doubled in that time. Congrats if you were born in the right generation and the right time to secure a big house on your level 12 pay with a 2.75% 30 year fixed mortgage. Millenials right now are fucked. Look at how much home ownership has gone up in the last 5 years alone. Not only have the price of homes nearly doubled, but now interest rates on a 30 year are 6.5%, and property taxes/insurance rates/maintenance costs have soared. The monthly payments/expenses on the average house are up at least 60% in 5 years and that's a conservative estimate.

 

[ChuckNovember]

Also important to note that when they calculate the increase in shelter cost, they don't use actual rents which are readily available to use for data. They use a made up number called owners equivalent rent that no one actually pays which is derived by methods that are suspect at best. Meanwhile actual rents are up way more than 33% in the past 11 years. I'd say median rents have probably doubled in that time. Congrats if you were born in the right generation and the right time to secure a big house on your level 12 pay with a 2.75% 30 year fixed mortgage. Millenials right now are fucked. Look at how much home ownership has gone up in the last 5 years alone. Not only have the price of homes nearly doubled, but now interest rates on a 30 year are 6.5%, and property taxes/insurance rates/maintenance costs have soared. The monthly payments/expenses on the average house are up at least 60% in 5 years and that's a conservative estimate.

Owner's equivalent rent is to address the fact that virtually no one owns their home outright; everyone has a 15/30 year mortgages. All I was trying to highlight is that the "K-shaped" recovery post-COVID is creating a huge chasm between the haves and the have-nots even in the same profession (ours).

 

[32andBelow]

Owner's equivalent rent is to address the fact that virtually no one owns their home outright; everyone has a 15/30 year mortgages. All I was trying to highlight is that the "K-shaped" recovery post-COVID is creating a huge chasm between the haves and the have-nots even in the same profession (ours).

I wish I would have stretched for a bigger house when I was a developmental. Now I feel like I’ll be in my condo for a while.

 

[atc12bsthrowaway]

Also important to note that when they calculate the increase in shelter cost, they don't use actual rents which are readily available to use for data. They use a made up number called owners equivalent rent that no one actually pays which is derived by methods that are suspect at best. Meanwhile actual rents are up way more than 33% in the past 11 years. I'd say median rents have probably doubled in that time. Congrats if you were born in the right generation and the right time to secure a big house on your level 12 pay with a 2.75% 30 year fixed mortgage. Millenials right now are fucked. Look at how much home ownership has gone up in the last 5 years alone. Not only have the price of homes nearly doubled, but now interest rates on a 30 year are 6.5%, and property taxes/insurance rates/maintenance costs have soared. The monthly payments/expenses on the average house are up at least 60% in 5 years and that's a conservative estimate.

2.25% but also a millennial, everything else checks out.

 

[bravoindia]

I wonder what people think our raises would have looked like if the republicans controlled things

Almost as good as the pay freezes during Obama probably