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#4514196 - 09/12/17 11:48 AM Middle-class income hit highest level in 2016
Mr Nice Offline


Registered: 09/12/04
Posts: 21209
Loc: Orlando, FL
Middle-class income hit highest level on record in 2016, Census Bureau reports

https://www.washingtonpost.com/news/wonk...m=.37e22dbfbcda

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#4514200 - 09/12/17 11:52 AM Re: Middle-class income hit highest level in 2016 [Re: Mr Nice]
Quattro Pete Offline


Registered: 10/30/02
Posts: 35897
Loc: Great Lakes
Yet it is about the same as it was in 1999, which is depressing.
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#4514246 - 09/12/17 01:05 PM Re: Middle-class income hit highest level in 2016 [Re: Mr Nice]
Andy636 Offline


Registered: 12/30/10
Posts: 778
Loc: Romania
Income is just a fancy number; just because someone makes $400/year more than it was in '99 means a whole lot of nothing...let them show the purchasing power.

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#4514247 - 09/12/17 01:07 PM Re: Middle-class income hit highest level in 2016 [Re: Mr Nice]
AirgunSavant Offline


Registered: 07/22/15
Posts: 3772
Loc: MD
I'll take the 80's- loads of cash in my pocket and way too much work to do for the decade
Few here remember turning down work because you couldn't expand fast enough. In my business the middle class is still MIA

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#4514248 - 09/12/17 01:09 PM Re: Middle-class income hit highest level in 2016 [Re: Andy636]
4WD Online   confused


Registered: 09/21/10
Posts: 6438
Loc: Texas
$400/month barely helps at today's costs ...

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#4514250 - 09/12/17 01:10 PM Re: Middle-class income hit highest level in 2016 [Re: Mr Nice]
mazdamonky Offline


Registered: 12/08/15
Posts: 556
Loc: Arkansas
According to multiple inflation calculators I just plugged this into, to live equivalent to making 55,000 in 1999 today, you would have to be making over 80,000. So highest average pay is useless when inflation means your dollar is only worth 66 percent of what the dollar was at the last highest average pay.
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#4514259 - 09/12/17 01:27 PM Re: Middle-class income hit highest level in 2016 [Re: Mr Nice]
LoneRanger Offline


Registered: 07/02/07
Posts: 4063
Loc: Midwest USA
Wait, what? I thought people were "falling out of the Middle Class" these days.
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#4514260 - 09/12/17 01:28 PM Re: Middle-class income hit highest level in 2016 [Re: Mr Nice]
Alfred_B Offline


Registered: 05/12/15
Posts: 1968
Loc: America
It's adjusted for inflation.

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#4514263 - 09/12/17 01:35 PM Re: Middle-class income hit highest level in 2016 [Re: Mr Nice]
Rolla07 Offline


Registered: 11/05/11
Posts: 4740
Loc: MTL, CANADA
Middle class in the 80's:

Couple modern newish cars, nice good sized house, good summer vacations, small amount of savings.

Middle class today:
Older cars, average sized house but paying a ton for it, short vacations if that, struggling to save money and pay off bills/debt, and getting a 2nd job to make ends meet.

Thats my view, however I do realize people are not as good with money today as they were in the past.. but nonetheless.. its not like it used to be. Looking at my household income and how Im doing, I thought I'd be doing better than I am.
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#4514276 - 09/12/17 01:57 PM Re: Middle-class income hit highest level in 2016 [Re: Mr Nice]
Alfred_B Offline


Registered: 05/12/15
Posts: 1968
Loc: America
Median new home price in 1999 was $161,000 which in 2017 dollars is $238,869.

Median new home price in 2017 is $313,700. So home prices have grown by 31% which can account for the two jobs, higher stress, etc.

But... the median existing home price is $238,500 in 2017
.

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#4514297 - 09/12/17 02:26 PM Re: Middle-class income hit highest level in 2016 [Re: 4WD]
pandus13 Online   content


Registered: 08/12/11
Posts: 3204
Loc: Chicago,IL,USA
Originally Posted By: 4WD
$400/month barely helps at today's costs ...

BITOG is not only US but (like you) International...
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#4514444 - 09/12/17 06:10 PM Re: Middle-class income hit highest level in 2016 [Re: Mr Nice]
BigD1 Offline


Registered: 08/12/15
Posts: 2575
Loc: NC
"Almost everyone saw an increase in income last year, Census officials said. They cautioned, however, that the Census changed its methodology in 2014, so they are hesitant to definitively say it's the highest median income ever."
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#4514462 - 09/12/17 06:28 PM Re: Middle-class income hit highest level in 2016 [Re: Quattro Pete]
philipp10 Offline


Registered: 05/09/14
Posts: 1184
Loc: Minnesota
Originally Posted By: Quattro Pete
Yet it is about the same as it was in 1999, which is depressing.


why is that depressing, 1999 was a pretty good year?

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#4514463 - 09/12/17 06:30 PM Re: Middle-class income hit highest level in 2016 [Re: mazdamonky]
philipp10 Offline


Registered: 05/09/14
Posts: 1184
Loc: Minnesota
Originally Posted By: mazdamonky
According to multiple inflation calculators I just plugged this into, to live equivalent to making 55,000 in 1999 today, you would have to be making over 80,000. So highest average pay is useless when inflation means your dollar is only worth 66 percent of what the dollar was at the last highest average pay.


I think the OP meant "inflation adjusted"

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#4514470 - 09/12/17 06:42 PM Re: Middle-class income hit highest level in 2016 [Re: Mr Nice]
fdcg27 Offline


Registered: 09/25/09
Posts: 15730
Loc: OH
Could it be that we're in the same virtuous cycle that we saw beginning in the early eighties that continued through the mid '00s with only a brief and mild recession to interrupt it?
The signs are there. Unemployment is low, help wanted signs are up everywhere and entry level and even garbage job wages are rising.
We enjoyed many years of prosperity following the deep recession of the late nineties.
Could we be seeing the same in the years following the deep recession of 2008?
These two recessions had radically different causes and brought radically different policy responses, but could these two awful events have subsequent long-term economic benefits in common?
I hope so, for the sake of all those younger folks out there looking to find a solid career path.
I'm invulnerable either way, but I want to see my sons along with everyone else's progeny do well in the coming years.
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