re: Bernie Sanders yet again on twitter calling for national rent control

So if you assume the traditionally accepted increase in a home's value of 3% annually on average, then in 56 years, the price/value of the house would have increased 423%, yet rent is supposed to be horrid because it went up 65% in said time frame?

Even if a homes value literally only went up 1% per year (not counting for inflation), it would be valued at ~75% higher after 56 years.

Can we get property tax control?

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between 1960 and 2016 while the median renter’s income grew by 5%
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For the country as a whole, the average (median) income of families in 1960 was $5,600

$5,600/2080 = $2.68/hour
A 5% increase is $2.69 * 1.05 = $2.82.

Do you know anyone making $2.82/hour in 2016?

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I am pretty sure the Bern is referencing real growth in income, but even then, I don’t think his numbers are close to accurate.

And besides that, real growth in overall compensation has grown pretty much in line with productivity and GDP growth for the last two generations - it’s that non-income benefits have swallowed up almost all of the gains. It’s the dirty little secret in macroecon that doesn’t get much attention from either side of the aisle.