A sharply divided Supreme Court has ruled that the Biden administration overstepped its authority in trying to cancel or reduce student loan debts for millions of Americans.
I assume the second graph is basing inflation on CPI as well and if I’m not mistaken that would mean dollars spent on mortgages are equivalent to dollars spent on rent.
I would argue that as home ownership goes down inflation would become more impactful as you do not build wealth with rent but can with a mortgage.
The US has historically low unemployment, but real wages have stagnated for more than 50 years.
The economy is actually pretty great – for those at the top. Not so much for those doing the real work:
I assume the second graph is basing inflation on CPI as well and if I’m not mistaken that would mean dollars spent on mortgages are equivalent to dollars spent on rent.
I would argue that as home ownership goes down inflation would become more impactful as you do not build wealth with rent but can with a mortgage.