Quote:
Originally Posted by JSH
Zandi is mixing their averages. They are using median income and the mean price of cars.
Mean Family income in the USA for 2022 was $126,500 or $2,432 per week.
Mean price for a MY 2022 new car = $48,094.
$48,094 / $2,432 = 19.8 weeks - lets call it 20 weeks.
Average can be Mean, Median, or Mode. People mix and match to mislead.
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A fair comparison would go over different percentiles:
25%-50%-75%
10%-20%-30%-40%-50%-60%-70%-80%-90%
and not mix and match type of data.
I think too a lot of people "can't afford" things because of 1. they are up to their necks in debt and/or 2. they subscribe to so many services. I know people who pay hundreds for their phone bill, then they subscribe to every video streaming service, also their music apps, etc. etc. etc. It all adds up.