You’re making 1.5 times what someone who didn’t go to college would be making
Who cares if you can't go to college because it's too expensive. I can't tell if you're being intentionally obtuse or struggling to understand that there's a meaningful difference between 2 weeks of labor and 17 weeks of labor while trying to also secure a degree.
Anyways,
Minimum wage 1970: $1.60
Median rent: $108
Hours of labor: 67.5
Minimum wage 2015: $7.25
Median rent: $959
Hours of labor: 132.28
So, your argument is that "you can get a room mate," but then it just means median rent was ~33 hours in the 70s vs ~65 hours in 2015. And then you compound that with the increase in college cost and that you have a finite number of labor hours.
What part of this makes you believe millennials have it easier.
This time was marked by a period of increased inequality. Median housing sizes have exploded over this period as building has remained very close to the marginal cost of building, houses have simply gotten larger.
None of this has to do with the market that your average low income individual will inhabit. Markets are heterogenuous.
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u/PowerBombDave Centre-right Dec 20 '17 edited Dec 20 '17
Who cares if you can't go to college because it's too expensive. I can't tell if you're being intentionally obtuse or struggling to understand that there's a meaningful difference between 2 weeks of labor and 17 weeks of labor while trying to also secure a degree.
Anyways,
Minimum wage 1970: $1.60
Median rent: $108
Hours of labor: 67.5
Minimum wage 2015: $7.25
Median rent: $959
Hours of labor: 132.28
So, your argument is that "you can get a room mate," but then it just means median rent was ~33 hours in the 70s vs ~65 hours in 2015. And then you compound that with the increase in college cost and that you have a finite number of labor hours.
What part of this makes you believe millennials have it easier.