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Middle-class income hit highest level in 2016 #4514196
09/12/17 10:48 AM
09/12/17 10:48 AM
Joined: Sep 2004
Posts: 21,941
Orlando, FL
Mr Nice Offline OP
Mr Nice  Offline OP
Joined: Sep 2004
Posts: 21,941
Orlando, FL
Middle-class income hit highest level on record in 2016, Census Bureau reports

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

Re: Middle-class income hit highest level in 2016 [Re: Mr Nice] #4514200
09/12/17 10:52 AM
09/12/17 10:52 AM
Joined: Oct 2002
Posts: 36,638
Great Lakes
Quattro Pete Offline
Quattro Pete  Offline
Joined: Oct 2002
Posts: 36,638
Great Lakes
Yet it is about the same as it was in 1999, which is depressing.


'02 530i (Edge 0W-40)
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Re: Middle-class income hit highest level in 2016 [Re: Mr Nice] #4514246
09/12/17 12:05 PM
09/12/17 12:05 PM
Joined: Dec 2010
Posts: 806
Romania
Andy636 Offline
Andy636  Offline
Joined: Dec 2010
Posts: 806
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.

Re: Middle-class income hit highest level in 2016 [Re: Mr Nice] #4514247
09/12/17 12:07 PM
09/12/17 12:07 PM
Joined: Jul 2015
Posts: 3,772
MD
AirgunSavant Offline
AirgunSavant  Offline
Joined: Jul 2015
Posts: 3,772
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

Re: Middle-class income hit highest level in 2016 [Re: Andy636] #4514248
09/12/17 12:09 PM
09/12/17 12:09 PM
Joined: Sep 2010
Posts: 7,519
Texas & Global
4WD Offline
4WD  Offline
Joined: Sep 2010
Posts: 7,519
Texas & Global
$400/month barely helps at today's costs ...


2018 Chevy 1500 Z71 4WD
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Re: Middle-class income hit highest level in 2016 [Re: Mr Nice] #4514250
09/12/17 12:10 PM
09/12/17 12:10 PM
Joined: Dec 2015
Posts: 582
Arkansas
mazdamonky Offline
mazdamonky  Offline
Joined: Dec 2015
Posts: 582
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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Re: Middle-class income hit highest level in 2016 [Re: Mr Nice] #4514259
09/12/17 12:27 PM
09/12/17 12:27 PM
Joined: Jul 2007
Posts: 4,342
Midwest USA
LoneRanger Offline
LoneRanger  Offline
Joined: Jul 2007
Posts: 4,342
Midwest USA
Wait, what? I thought people were "falling out of the Middle Class" these days.



'09 Subaru Forester ...................(QS HM 5W30)
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Re: Middle-class income hit highest level in 2016 [Re: Mr Nice] #4514260
09/12/17 12:28 PM
09/12/17 12:28 PM
Joined: May 2015
Posts: 2,011
America
Alfred_B Offline
Alfred_B  Offline
Joined: May 2015
Posts: 2,011
America
It's adjusted for inflation.

Re: Middle-class income hit highest level in 2016 [Re: Mr Nice] #4514263
09/12/17 12:35 PM
09/12/17 12:35 PM
Joined: Nov 2011
Posts: 4,978
MTL, CANADA
Rolla07 Offline
Rolla07  Offline
Joined: Nov 2011
Posts: 4,978
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.


2007 Corolla Red Pearl 155k miles
PP 0w20 & ST 4967

Re: Middle-class income hit highest level in 2016 [Re: Mr Nice] #4514276
09/12/17 12:57 PM
09/12/17 12:57 PM
Joined: May 2015
Posts: 2,011
America
Alfred_B Offline
Alfred_B  Offline
Joined: May 2015
Posts: 2,011
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
.

Re: Middle-class income hit highest level in 2016 [Re: 4WD] #4514297
09/12/17 01:26 PM
09/12/17 01:26 PM
Joined: Aug 2011
Posts: 3,388
Chicago,IL,USA
pandus13 Offline
pandus13  Offline
Joined: Aug 2011
Posts: 3,388
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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Re: Middle-class income hit highest level in 2016 [Re: Mr Nice] #4514444
09/12/17 05:10 PM
09/12/17 05:10 PM
Joined: Aug 2015
Posts: 2,924
NC
BigD1 Offline
BigD1  Offline
Joined: Aug 2015
Posts: 2,924
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."


1992 Toyota Pickup--Harvest King Premium 10W-30--Fram PH3614
Re: Middle-class income hit highest level in 2016 [Re: Quattro Pete] #4514462
09/12/17 05:28 PM
09/12/17 05:28 PM
Joined: May 2014
Posts: 1,409
Minnesota
philipp10 Offline
philipp10  Offline
Joined: May 2014
Posts: 1,409
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?

Re: Middle-class income hit highest level in 2016 [Re: mazdamonky] #4514463
09/12/17 05:30 PM
09/12/17 05:30 PM
Joined: May 2014
Posts: 1,409
Minnesota
philipp10 Offline
philipp10  Offline
Joined: May 2014
Posts: 1,409
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"

Re: Middle-class income hit highest level in 2016 [Re: Mr Nice] #4514470
09/12/17 05:42 PM
09/12/17 05:42 PM
Joined: Sep 2009
Posts: 16,192
OH
fdcg27 Offline
fdcg27  Offline
Joined: Sep 2009
Posts: 16,192
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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