In America, 18 months ago, you could secure a 15-year fixed rate mortgage on good (not perfect) credit at 2.8% APR.

Today, the average rate is 6.827%.

That's an increase of 244%.

Meanwhile, from Spring/2020 until Spring/2022, the average American home sale price increased from $329,000 to $428,700 (i.e., over a 30% increase in 2 years).

So this represents a double-increase: You are paying 2.5x more to finance a house which is itself 30% more expensive than it was two years ago.

How does that translate into real dollars?

Well, $428,700 financed at 6.827% APR gives you a monthly payment of $3,811 (not including extras like private mortgage insurance, homeowner's insurance, etc, which will add to this number).

That same house in 2020 (i.e., $329,000 at 2.8% APR) would "only" have cost you $2,240/month.

So in a 2-year timeframe, inflation has robbed you of $1,571/month (an increase of 59%).

Supposing you have an income in 2022 ($63,214), making your monthly GROSS income $5,268/month, then this $1,571 monthly loss is tantamount to a 29.8% pay cut (and presuming your income was taxed the 2022 average of 28% (reduing your gross to $3,793/month), then your effective pay cut is a staggering 41.4%.

But wait, it gets worse:

These numbers are only for housing, but we all know food, energy, and consumer goods (e.g., automobiles) and services are increasing at various rates as well.

Then consider that inflation is expected to persist for some time, compounding lost revenues, and lowering our standard of living (i.e., by taking a larger and larger percent of income).

This is how we can arrive at Klaus Schwab's "you will own nothing, and be happy."

They over charge you on food and getting less too.  The packaging has been shrinking long before covid lockdowns.