4 ms·
>How much of this is actually new as far as income vs costs, and how much of this is unwillingness to make sacrifices that older generations did? Joking right
by jmclnx 3y ago
>How much of this is actually new as far as income vs costs, and how much of this is unwillingness to make sacrifices that older generations did?
Joking right ? Where I live, you cannot get a 1 bedroom apartment for less than $2000. When I moved out on my own, one year's rent was 10 to 15% of my yearly salary, and that was a 2 bedroom. In today's dollars, my salary was 50,000. I could have easily bought a single family house at the time.
Based upon those numbers, my rent would now be a bit over 50% of my salary for a 1 bedroom. Never mind even thinking about buying a house if you are young.
Also Medical Insurance in the US comes into play. Back then, my insurance contribution was almost nothing. Now it would be around 10% of my salary, if I even was allows to get Medical.