Money Died in Germany — Could it Die in America Too?
There’s no question about it: the cost of living in the United States has risen dramatically over the last few decades. It’s so bad that I honestly don’t think young people can earn their way out of it.
Back in the late 1980s when my parents bought their house, the average home price in the United States was around $138,000. They were able to buy their home by working basic entry-level jobs that didn’t require a college degree. By working hard and budgeting well, they could save up enough money to start life on their own terms.
Times have changed. Today, the median home price is about $420,000 — or just under half a mil. You can’t afford a home like that just by working an entry-level job. You definitely can’t get an entry-level job anymore without a college degree. And a hiring manager definitely won’t look at your resume for that entry-level job unless you have several years of work experience too.
The middle class is vanishing. Instead of rising in the ranks, young people are battling to stay out of poverty. Between housing, educational costs, and the other basic requisites of surviving in today’s society — food, clothing, and health insurance — young adults are financing their way into adulthood.
That’s a big problem. As the cost of living rises so too will the demands for…
