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Contarini's avatar

Nice to see a solid, fact based treatment of this question. Your rebuttal of Iglesias is convincing.

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Benjamin Cole's avatar

Anecdote: In the Los Angeles of the 1950s and 1960s, average young couples would move the California and optimistically start a family. Natives too.

When I say "average" I mean it. In my neighborhood of Altadena, my friend's dads were furniture upholsterers, security guards, KFC employee (manager?), construction workers, small college professor, salesmen. In general, they owned houses. When wives worked, it was in the pink-collar ghetto, and often only seasonally, as to buy holiday presents.

"Today, the median listing home price in Los Angeles, CA was $1.2M, trending up 22.5% year-over-year. "

So....the ability to buy a house, and have a decent-paying job, be respected by a wife for the ability to provide---that's all gone for the average guy along the entire West Coast. Much of the Northeast too, I would guess.

I get it, that median incomes per capita are higher now than in the 1960s. Something is screwy with that perspective. Wages for young men, adjusted for inflation, are lower than in the 1960s.

Canada is facing a similar demographic wreck.

Globalism?

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