this post was submitted on 26 Oct 2024
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It was within reach 20 years ago, but not today. Median hourly wage in the US is about $23/hr. Median rent is about $2000/month. That's more than 50% of gross wages, and along with inflated prices on everything else, it's no wonder that half of Americans are living paycheck-to-paycheck.
The "average middle-class person" you're referring to is now upper-class. Not because they're extremely wealthy, but because they can afford to invest (which was once quite common, but is increasingly out of reach for the "average" person).