[Aunche]

That has more to do with the cost of building than a lack of pay. When you don't account for higher education, buildings, and healthcare, Americans are significantly richer than they were in the past. The problem is that politicians don't bother to address the underlying perverse incentives that are the root causes of these rising costs. They can win elections just fine by throwing money at the symptoms, even though they cause even more long-term pain. Until these root causes are addressed, most of the money squeezed from employers is simply going to go to the rent seekers in areas. The most clear example of this is tech salaries going to Bay Area landlords.