|
It's no shock. Real wages have been flat since Reagan while the cost of living has skyrocketed. The middle class is bringing some of this on themselves by using easy to get credit to live beyond their means, but still, even if you just want a normal house, normal car, and normal life and you are a typical middle class person you likely have to go into debt to get it.
It's only going to get worse as the Millennials enter the world many of them already have massive student debt so they are in a hole before they even get a job and try to build a life. We are seeing it play out as many of them don't own homes, aren't getting married, and aren't having kids.
|