I’m “self-made”, never had a W-2 job, paid my own way through university & grad, no inheritance. I have three daughters in this age group, all degreed & employed. I’ve done it and seen it with their generation.
My monthly nut when I was their age was about $1,500.mo. all-in [mort, tax, ins, mainten, etc. for a 3+2 on 7k sqft in a regular, clean neighborhood in an LA suburb]. I was able to cover on my earnings alone, wife was abel to stay-at-home for the 10 years while the kids were little. There was no such thing as a “vacation”, but we did go camping alot.
The sentiment is spot on. There’s no reasonable possibility any of my 3 could buy their first house at 27 in LA, like I did [that same house is now valued at $1million, a 30-yr mort payment would be about $5k assuming a $200k down payment & excluding taxes, ins., maint, etc.]. I could get a 4-door sedan [never had a new one] for more or less a month’s salary. Insurance was an annoyance, but was always available and never broke the bank. Food budget, since we rarely ate out, was easy to control and stretchable [a good, 4-can pasta sauce can last for 3-4 meals, costed about $3-5 per family meal, all in]. Can’t leave a grocery store today under $100. Restaurants? Fuggetaboutit. It’s $200 minimum to take the fam out.
I wouldn’t say it was “easy” when I was starting out, but it definitely was “doable” with consistent work and delayed gratification.
Mine are fortunate. I can afford to subsidize them now & they’ll get something when I’m gone. But I think I’m very rare.
Good job Dad. Mine are better off than we were. We will check out and leave them some..... But I am heartbroken for my nieces and nephews.
The world has changed in front of our eyes. The American dream is no longer attainable at this time, maybe later on, maybe not. The Democrats “And” the UNIPARTY PUB’S own this.
I pray for our future.