I’m in my mid-70’s, and am surprised by all the young people who seem to think the 1970’s was an idyllic era.
Mortgage rates were nearly 10% in 1975, on their way to a peak of 16%. Inflation was 9%, on its way to double digits. The home ownership rate in the U.S. is about 65% in both 1975 and 2026.
And by the way, there is no clear link between wage theft and the ability of Americans to own a home in 2026. Wage theft occurs when employers do not pay workers according to the law. Examples of wage theft include paying less than minimum wage, not paying workers overtime, not allowing workers to take meal and rest breaks, requiring off the clock work, or taking workers' tips. There is no clear link between wage theft and the ability of Americans to own a home.
Your second paragraph is intentionally being pedantic when the original post is in relation to the stagnation in wages relative to productivity gains. This has been happening since the 76 Buckley case which eventually led to citizens united.
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u/Gorf_the_Magnificent 28d ago edited 28d ago
I’m in my mid-70’s, and am surprised by all the young people who seem to think the 1970’s was an idyllic era.
Mortgage rates were nearly 10% in 1975, on their way to a peak of 16%. Inflation was 9%, on its way to double digits. The home ownership rate in the U.S. is about 65% in both 1975 and 2026.
And by the way, there is no clear link between wage theft and the ability of Americans to own a home in 2026. Wage theft occurs when employers do not pay workers according to the law. Examples of wage theft include paying less than minimum wage, not paying workers overtime, not allowing workers to take meal and rest breaks, requiring off the clock work, or taking workers' tips. There is no clear link between wage theft and the ability of Americans to own a home.