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I feel much better about the quality of this data.
The Wages and Salaries come straight from the IRS. It isn't as timely as the last batch, but it should certainly be more accurate. The data can be found at SOI Tax Stats - Individual Statistical Tables by Size of Adjusted Gross Income. I used the "Individual Complete Report (Publication 1304), Table 1.4" section and went through them year by year extracting the "Salaries and wages" total amount for "All returns". Keep in mind this does not cover other various forms of income.
The home mortgage data is in a previous post complete with a screenshot.
As for the commentary, I think the chart speaks for itself. Further, I think it has a very disturbing thing to say.
4 comments:
You would need to do a year-by-year comparison excluding non-home-owners from the series.
The wealthy are pulling away from the poor, and this graph might reflect that condition, rather than an increased mortgage-debt-to-income ratio (and as you said you would need to distribute the non-wage income somehow.)
Nice work.
Thanks for your kind words.
It is tough to find the right data for the job. The way the government arranges their data makes it extremely difficult sometimes.
The groupings of people by income are almost identical to how they were 10 years ago. It's the same old "$50,000 to $75,000" mindset. How's that supposed to help me? Inflation alone would make people appear to "move up". Maybe I'm not looking in the right place for the data though. It wouldn't be the first time.
I find it hard to believe anyone can say that the rich haven't prospered more than the average person over the last 25+ years. Compounding your worth at 10% or more year after year after year tends to do that. Go figure.
On the other hand, the rich took it harder on the chin during the dotcom crash from what I can see. Easy come, easy go. They've since recovered of course. We'll just have to wait and see how they do during the next downturn assuming one is coming someday.
SPAM deleted.
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