4 ms·

40% of families were living off of a single income in the 60s/70s. That’s under 20% now. It’s not just “nostalgia bullshit”.

by what 2y ago

paxys 2y ago
No his grandpa worked in a mine therefore the middle class as a concept doesn't exist.
phil21 2y ago
But a lot of those 40% simply didn't live lifestyles like today. Everyone until my generation in my family lived in a single-income household. At least full-time income. They also gardened - enough where canning skills were widely known and utilized. And picked up odd jobs - everyone, the wife and the kids as soon as they were able. Every single kid was working a part time job by age 15 and contributing to the household in some manner or another. Every kid did a serious chunk of daily chores to help out. Extended family assisting in basic child care, home repair, car maintenance, and other duties was the norm. McDonalds and the like were absolute luxuries for special occasions like birthdays. Not the whole family. The parents and the one kid who's birthday it was. Your menu selection was strictly limited. Anniversaries for the parents were celebrated by the once a year "fancy dinner" at a place like Olive Garden. The stay at home parent home cooked all the meals from basic (read: cheap but labor intensive) ingredients. Kids invariably shared bedrooms, sometimes even 3 to a room. A single used car for a family of 6 was the norm. Every kid got two sets of clothing to start the school year, and if you ruined them you were out of luck or learning how to sew patches onto things. Hand-me-downs were the norm. Houses were about half the size on average in my area. These were folks everyone likes to wax nostalgic about as "solidly middle class" and lived in the "rich" suburbs. From where I stand, most of what the dual income household did was simply increase lifestyle and asset inflation. It first started with some folks just "getting ahead" and choosing that life. It then turned into those folks bidding against anyone who wanted to keep costs down and turned a voluntary game into a mandatory one. The market is going to serve the majority and most profitable segment. If you wanted to buy a home, you were bidding against that dual income household willing to take on a 30 year mortgage and max out their finances. You were forced into it - 30% income rule be damned as there were no other choices with so many folks bidding homes and rentals upwards. Now we're at a point where all the fixed expenses have met the median dual income budget - there is nothing left to give. Things will get interesting. That is certainly not the whole story, but it's a decent part of it very few talk about.

40% of families were living off of a single income in the 60s/70s. That’s under 20% now. It’s not just “nostalgia bullshit”.

by what 2y ago

40% of families were living off of a single income in the 60s/70s. That’s under 20% now. It’s not just “nostalgia bullshit”.

paxys 2y ago

No his grandpa worked in a mine therefore the middle class as a concept doesn't exist.

phil21 2y ago

But a lot of those 40% simply didn't live lifestyles like today. Everyone until my generation in my family lived in a single-income household. At least full-time income. They also gardened - enough where canning skills were widely known and utilized. And picked up odd jobs - everyone, the wife and the kids as soon as they were able. Every single kid was working a part time job by age 15 and contributing to the household in some manner or another. Every kid did a serious chunk of daily chores to help out. Extended family assisting in basic child care, home repair, car maintenance, and other duties was the norm. McDonalds and the like were absolute luxuries for special occasions like birthdays. Not the whole family. The parents and the one kid who's birthday it was. Your menu selection was strictly limited. Anniversaries for the parents were celebrated by the once a year "fancy dinner" at a place like Olive Garden. The stay at home parent home cooked all the meals from basic (read: cheap but labor intensive) ingredients. Kids invariably shared bedrooms, sometimes even 3 to a room. A single used car for a family of 6 was the norm. Every kid got two sets of clothing to start the school year, and if you ruined them you were out of luck or learning how to sew patches onto things. Hand-me-downs were the norm. Houses were about half the size on average in my area. These were folks everyone likes to wax nostalgic about as "solidly middle class" and lived in the "rich" suburbs. From where I stand, most of what the dual income household did was simply increase lifestyle and asset inflation. It first started with some folks just "getting ahead" and choosing that life. It then turned into those folks bidding against anyone who wanted to keep costs down and turned a voluntary game into a mandatory one. The market is going to serve the majority and most profitable segment. If you wanted to buy a home, you were bidding against that dual income household willing to take on a 30 year mortgage and max out their finances. You were forced into it - 30% income rule be damned as there were no other choices with so many folks bidding homes and rentals upwards. Now we're at a point where all the fixed expenses have met the median dual income budget - there is nothing left to give. Things will get interesting. That is certainly not the whole story, but it's a decent part of it very few talk about.