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Goodness
I didn't know it was that bad over there
What happened in 1951?
LLM says:
Around 1950–1951, the Korean War triggered a sharp inflation spike, with consumer prices rising faster than wages could adjust.
If this chart mixes—or poorly adjusts for—nominal wages and real (inflation-adjusted) wages, it can create the appearance of a sudden “drop” that’s really just a lag in purchasing power, not wages being slashed.
Thanks thats what I was thinking.. didn't make sense for wages to suddenly drop in a post-war boom
Never forget what you lived through.
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woah 1933-1945 was pretty tough. respect.
“It’s the building codes that are too strict” - an actual boomer I know
I can't wait for these people to be gone.
Definitely a part of the problem, but boomers created that part too lol.
Now do Canada! 😂
wtf happened in 1951?
Just…..damn.
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The value of a house has not gone up. Adjusted for the raw materials plus labour it has slightly decreased for same comparable house. The real story is wage deflation.