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> My parents are in their 70's and they still have furniture that was (second hand) given to them when they got married. Can you imagine an piece of IKEA furnit

by mfer 5y ago

> My parents are in their 70's and they still have furniture that was (second hand) given to them when they got married. Can you imagine an piece of IKEA furniture being used daily and lasting for >40 years? My point about "cheaper alternatives" exactly... Part of this is cultural. People now consume more than they used to. For many generations people patched their clothes. Now they throw them out. It's a culture of consume, toss it, consume some more. That culture influences personal decisions and those we influence for our companies. You can still get high quality furniture. If you're going to replace it soon due to style changes do you care about quality?

slv77 5y ago
Outside of housing, healthcare, daycare, education and transportation the two income household of today consumes less then a single income household in the 1970’s. The spending is different, with households today spending less on things like china or formal clothes but net it all out and it is less. Housing is larger but also older and mostly driven by proximity to good schools. It is hard to consider the other expenses discretionary. This was the conclusion a Elizabeth Warrens research summarized in The Two Income Trap.