[rmay635703]

Wage growth vrs initial income looks like an upside down bell curve in terms of your starting point.

Wage growth has primarily been on the very low and very high income brackets with not quite inflation level growth in the so called middle class.
Homes cannot mirror inflation unless wages move in tandem which never happens to the lower brackets.

Young professionals (engineering, IT, technical) have not had uniform increases in their job prospects, I deal with my old engineering college And most recent graduates are not able to find work in their field.
The job expansion has been mostly amongst yet again hospitality, elder care, food, delivery and other worthless professions that can’t pay bills.

The old adage you gotta have a job to get one is in full effect for real jobs and workplaces are still using computerized filtering to give the
“Nobody is applying “ excuse despite record numbers of applicants.
The reality is most job postings are optimistic for underpaid 30 year super qualified people that don’t actually exist, businesses are basically horse trading from the same limited group of individuals. And that group shrinks everyday as millions of the elderly that should have retired 1-2 decades ago leave the workforce, while simultaneously not being replaced.

Already in 2019 based on the shipping industry (those who know the dirty laundry) we were heading for recession, this strange couple years has mixed things up but I fully expect those in the middle to upper middle to start loosing work next year, there simply aren’t the fundamentals to support a continued expansion there.

Housing reductions will follow , typically a bubble like we are in takes about 5 years to burst, the rapid onset and unusual trajectory
(only foreign,corporate, investors and the upper 1/3 have purchased, with mainstream buyers notably abscent )
will make this one strange as the bottom falls out from government bailed out cash flush corporate/institutional land owners not able to collect their necessary rent levels.

What I find more strange is despite the trillion dollar shadow bank bailout of 2020, literally no one seems to be paying attention, these entities instead of learning are doubling down modifying our market fundamentals.
This type of mass corporate and foreign land ownership manipulation isn’t sustainable and our government couldn’t care less.

Hopefully when this all shakes out we DONT bail out the dumb *******s, let the market deflate and change law to heavily restrict and ban mass ownership by foreign, institutional and corporate interests like every other 1st world nation.

If we don’t the bottom 50% won’t be able to rent or buy homes which should cause a continued market failure