Every decade, technology makes us dramatically more productive. Every decade, GDP growth slows. These two facts should not coexist — and understanding why they do reveals the defining economic tension of our era.
Wages have not raised as quickly as rent has raised, unfortunately.
As per the U.S. Department of the Treasury (posted during the Biden administration):
This is inflation-adjusted, so it is comparable to your data. My point here is that while average wages have increased, average available spending money after paying for basic necessities has likely significantly decreased.
I’m not OP, but to play devil’s advocate:
Wages have not raised as quickly as rent has raised, unfortunately. As per the U.S. Department of the Treasury (posted during the Biden administration):
This is inflation-adjusted, so it is comparable to your data. My point here is that while average wages have increased, average available spending money after paying for basic necessities has likely significantly decreased.