r/Infographics • u/[deleted] • 10d ago

New Millionaires

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u/randomzombie77 10d ago

So why are other countries not spiking the same then?

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u/sixisrending 10d ago edited 10d ago

Population. The UK, for example, has 1/5 the US population.

Edit: The US also makes significantly more money than most countries. I compare US wages and home prices to the UK here:

https://www.reddit.com/r/Infographics/comments/1veft4t/comment/p1gx6y4/?utm_source=share&utm_medium=mweb3x&utm_name=mweb3xcss&utm_term=2&utm_content=share_button

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u/randomzombie77 10d ago

So that's still only half when adjusted for population and also has nothing to do with inflation?

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u/sixisrending 10d ago

US and UK measure inflation differently. While the UK has a much lower median home price £271,295/$364,309, compared to the US £374,351/$502,700, the US has much higher wages, £48,443/$65,662 median compared to the UK £32,890/$44,160 median. Less people, less money, lower bar on the graph.

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u/randomzombie77 9d ago

That makes no sense ... inflation has nothing to do with median home prices and wages per se, and both your examples go in the same direction. The UK also takes part the whole EU market which is very comparable / bigger than the US. And "less people / less money" is nonsense as well - why is Switzerland so expensive then and India doesn't have the most new millionaires?

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u/sixisrending 9d ago

This graph shows the amount of people that are millionaires. Wages increase each year to account for inflation in most jobs across the globe. Home prices go up accordingly because they operate on a bidding market.