“Rent control”, median income and median rent
News media has advocated a meme that housing rents increase faster than wages but according to the census data, median wages have grown much faster than median rent.
Media: CNBC confuses “median” and “average”
This article confuses “average” in the title, with “median” used in the report. Why do they do this?
Media: Typical American cannot buy a home in 99% of nation
Once again, the media confuses average and median, leaves out that half of homebuyers are dual incomes, not a single income, and that people can and do buy homes less than the median price. Bad reporting.
How to show you know nothing of history without saying you know nothing of history
Some one posts a TikTok video claiming “Baby boomers” never had to deal with inflation and had it easy finding jobs. She is factually and logically wrong, but the media turns this into a viral story, without noting the Tiktoker was wrong. The TikToker demonstrated she knows nothing of history without saying she knows nothing of history. It’s not a good look!
Update – “Average renter can’t afford their apartment”
A few months ago, a news item spread saying that the “average renter” or “minimum wage renter” cannot afford a one bedroom apartment. But that is not what the study actually said. The study picked a price point equal to the 40th percentile of rental unit price distributions. In general, those earning a single minimum wage income are usually not able to afford a one bedroom apartment at the 40th percentile. They can afford lower cost units in the market below…