Subject: Re: Berkshire and Tariffs
This isn't true though. Since the US started running a trade deficit in 1980 until now, real income has increased for every decile. Middle income people (which is what you are talking about) have seen their incomes increase by about 20%, which is a non-trivial boost in standard of living.

Just remember, statistics is not the plural of anecdote. So here is an anecdote.

When I bought my first house in 1988, it cost me about 1.3 times my then annual salary. And it was a two family home of which I could rent out the right half.

My daughter is looking at homes in a market where homes are essentially about 15 times her annual salary. Of course she could move out of Sandy Eggo to the absolute boondocks of South Carolina where she could get a fine house for only 5 times her annual salary.

So since 1988, houses seem to have risen from about 1.3 times your annual salar to at least 5 times your annual salary.

But this is just an anecodte. I'm sure my daughter's situation is completely unique and atypical and that American nearly-30 year olds are happily buying house after house more easily than ever before because the real income has increased in every decile. My bad for even bringing this up.

R: