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Yet it used to be possible to buy a house and support a family with children on a single income, and now you would struggle to do it on two incomes. That does n
by agent008t 4y ago
Yet it used to be possible to buy a house and support a family with children on a single income, and now you would struggle to do it on two incomes. That does not sound like a big success for the economy to me.
Perhaps a reason to be optimistic is that this trend will reverse, but it is hard to see a road to that. In the medium term, we are looking at a large population of retirees to be supported by a dwindling working population, that are also faced with servicing a massive debt that the older generation accumulated; at the same time faced by a rising challenger nation. That sounds like it could be dreadful, actually.
- bryanlarsen 4y agoYou used to be able to buy an 800 square foot house on a single middle class income, live on spam and potatoes, et cetera. It's still possible to buy a mobile home, eat spam and potatoes and support a family on a single middle class income.
- agent008t 4y agoThe two scenarios are not comparable. For example, they would result in very different social environments, different access to education, employment etc.
- bryanlarsen 4y agoYou're right, the 2022 child would have vastly improved access to education. Mostly, but not entirely, due to the Internet.