Orlando realtor Freddie Smith discusses how owning a home and living a typical middle class life has become increasingly unattainable for most millennials and older Gen Z.

TL;DR: Americans now need to make $120K a year to afford a typical middle-class life and qualify to purchase a home. Minimum.

  • grue@lemmy.worldEnglish
    19·
    10 months ago

    Wow, now that’s a hell of a statistic! Got a nice reference for it so I can read more?

    • Aceticon@lemmy.world
      10·
      10 months ago

      I read it ages ago when I was still frequenting a certain finance discussion forum (whose name totally evades me now, and I did just try looking up such forums but failed to find it) back in the post 2008 Crash years, hence why the end date in that statistic is 2012.

      This is the best I found on the subject. Note that the numbers are quite different from the statistic I quoted since they’re not the same thing (it’s about labour share of income in the whole Economy, rather than the corporate labour to revenue ratio) but you can see the very same trend I mentioned in this report and what’s used there is almost certainly a better statistic to get an overall view of what’s going on.