I fear you’re correct; this “new normal” seems permanent. We have become Western Europe (few jobs, high taxes, no children, masses of foreigners).
For me, the American dream is dead. And even if it wasn’t, I wouldn’t purchase a new house unless I had 5-10 times the cash to do. And I’m not even sure I’d buy in the country, frankly. Though I do like areas in the south.
Even if I could, which I cannot, I would not purchase a new car because of property and sales taxes. So I keep the old one going as long as possible.
For me, the new dream is to survive, stay away from criminalized areas, help a few others when I rarely can, and see if I can regain employment in something close to my field.
It all changed very rapidly 2007-2008. A lot of people think it’s still like 2003-2005. I can assure them it is not. It’s a stark reality. I just returned from late-night shopping, cooking for friends tomorrow. Most of the stores around me, most days per week, even a big store like Target (gag) has maybe 20-25 customers at any time.
There is absolutely no way they’re paying building, lot, employees, utilities and taxes on what little they sell.
It is just a matter of time.