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A single income family with two kids could afford a house in 1982. Adjusting for inflation doesn’t mean shit if you don’t factor in actual buying power.
This is exactly the point people miss.
A single income family was doing an annual family vacation, buying a house, and owning a car or two.
We’ve moved to the average family being dual income to support kids and little to no family vacations.
Adjusting for inflation is adjusting for buying power.
Inflation is the loss of buying power per unit of currency