Will today's social immobility in the U.S. affect future home sales volume?
Yes (89%, 40 Votes)
No (11%, 5 Votes)
Total Voters: 45
As the income chasm widens between the top 1% of earners in the U.S. and everyone else, social mobility likewise continues to decline, according to the chairman of the Council of Economic Advisers, Alan Krueger.
Krueger points to a number of indicators that income inequality is indeed present in the U.S. and that it is affecting the ability of the populace to thrive economically – to purchase such things as homes at present prices.
From WWII to the 1970s, virtually all income brackets in the U.S. grew at the same pace. In a divergence since the 1970s, income growth for the top fifth of all earners has outpaced growth in the middle class significantly, while income growth in the bottom quintile (20%) actually shrunk over the past 40 years.
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