If we continue down this trajectory, where work pays less each consecutive year, soon the majority will not have a home to lose.

Yeah then it would be mouths to feed, there is always a greater crisis than the one you are facing. And this is the entire reason folks are willing to work for peanuts, I have worked for 1$ an hr, and 100$ an hr. Sure I was less skilled but I wasn't 100x less skilled.

The difference is my desperation for the job. I had to pay for my studies back when 1$ an hour seemed like more than nothing.

Now working for less than 50$ feels like being exploited. This is the matter of perspective and situation in life, you can never fix it for everyone in the world. There will always will be people like me who will work for 1$ an hour because they have needs to meet and scholarships or handouts don't make up for it all.