Just look it up. We have the best economy in the world. Highest GDP. Yes everything is higher but wages are outpacing inflation right now.
If you say so. Not many people have had 30%+ increases in pay over the last 3 years. You can go by what figures the government gives you or you can go by real world situations.
That person that could qualify for a $400,000 mortgage 3 years ago can now only qualify for $265,000 mortgage due to much higher mortgage rates. And the price of homes have increased a good bit over that 3 years which means the price of that $400,000 home 3 years ago is likely much higher.
Hell, I refinanced my house 4 years ago to go with a shorter loan period. In December I added a HELOC just to have funds available if needed. In that 4 years my appraisal value went up $200,000.
Seeing that this is the senior forum, we deal with lots of seniors whose incomes have not come close to keeping up with the increase in costs for every day items. I have countless conversations with clients who are in disagreement with yours and the current administrations assessment of the state of our economy.
And if everybody is making more money now, why are we seeing big increases in delinquencies on payments? Must be reckless spending. Couldn't possibly have anything to do with a family of 4 seeing their cost for groceries increase be $400+ per month along with increases in costs for virtually everything they spend their money on.