3 ms·

> it's not possible to legally exist as a single person household Why is that the goal? When I was in my late teens / early 20s back in the 90s making low 30s

> it's not possible to legally exist as a single person household Why is that the goal? When I was in my late teens / early 20s back in the 90s making low 30s, I did what everyone else my age did: got a roommate. It's not great most of the time. It was, however, very motivating for me to improve myself so that I could afford to get my own place.

xp84 2y ago
I think we're somewhere in the middle between the way you had it in the 90s, and absolute disaster. (Also, if you were making low 30s in 90s dollars that's a lot better than like 40k in 2024 dollars.) Several issues that real people today are suffering with is that it's hard to remain a 2-income family and have young kids. Someone's got to take care of them, and daycare costs more than the median worker is likely to make in the limited time your kids can realistically be in daycare. So now you're down to 1 income, expensive rent, or 2 incomes, expensive rent and expensive childcare. Or 2 incomes and live with someone's parents who may also watch the kids, which while some cultures are fine with that, others resent that being their only option (especially if you can't stand those parents!) -- and for elder millennials and older, we generally were able to have better options if we planned our careers wisely. I cannot imagine any advice I would have given to two 18-year-olds from poor families in 2020 that would have set them up to be on track to have kids and live independently anytime. Especially if they were determined to go to college, which everyone is told they must do.
mapt 2y ago
$32,000 in 1994 is worth $68,000 in 2024 according to official CPI figures. You did alright - this is basically median HOUSEHOLD income at the time, far higher than median "Young single male" income. But CPI figures aren't what we have to deal with. Average rent in 1994 was roughly $500 ($6000/year). Today it's $1400 ($16800/year). You were paying (if a median unit) 15-20% of your income in rent and felt that this was too much and you needed a roommate. Today there are lots of people making $32000 a year at full-time jobs (that's $16/hr, pretax), or LESS than that, and being told that they need to pay more than 50%. Or that because they make so little (we credit check tenants now!), they simply are not allowed to rent legally.

xp84 2y ago

I think we're somewhere in the middle between the way you had it in the 90s, and absolute disaster. (Also, if you were making low 30s in 90s dollars that's a lot better than like 40k in 2024 dollars.) Several issues that real people today are suffering with is that it's hard to remain a 2-income family and have young kids. Someone's got to take care of them, and daycare costs more than the median worker is likely to make in the limited time your kids can realistically be in daycare. So now you're down to 1 income, expensive rent, or 2 incomes, expensive rent and expensive childcare. Or 2 incomes and live with someone's parents who may also watch the kids, which while some cultures are fine with that, others resent that being their only option (especially if you can't stand those parents!) -- and for elder millennials and older, we generally were able to have better options if we planned our careers wisely. I cannot imagine any advice I would have given to two 18-year-olds from poor families in 2020 that would have set them up to be on track to have kids and live independently anytime. Especially if they were determined to go to college, which everyone is told they must do.

mapt 2y ago

$32,000 in 1994 is worth $68,000 in 2024 according to official CPI figures. You did alright - this is basically median HOUSEHOLD income at the time, far higher than median "Young single male" income. But CPI figures aren't what we have to deal with. Average rent in 1994 was roughly $500 ($6000/year). Today it's $1400 ($16800/year). You were paying (if a median unit) 15-20% of your income in rent and felt that this was too much and you needed a roommate. Today there are lots of people making $32000 a year at full-time jobs (that's $16/hr, pretax), or LESS than that, and being told that they need to pay more than 50%. Or that because they make so little (we credit check tenants now!), they simply are not allowed to rent legally.