Headline says “earn”.
A lot of people get paid way more than they earn.
I guess I am a bit too literal, or pedantic.
I frequently have to visit California on business, and have seen “mobile homes” for sale at the $500k price level.
Seriously people, The Hill is the enemy media. Can’t we just excerpt the important things of the article so we don’t have to give them clicks?
“Typical” is misleading.
I feel very bad for young people. They are stuck growing up in a world that has been destroyed by the older generations that came before them.
A lot of entry level jobs are really just dead-end jobs. You start at the bottom, and you stay at the bottom. It’s hard to start a “career” when the work that is available is too often simply a “job”.
And middle management at corporations has been hollowed out. Middle managers? They were just a waste of space, right? With automation, you don’t need a team leader for 5 - 10 people. One guy with a snazzy spreadsheet can manage 100 or more people. So, the poor schlubs who start at the bottom don’t have a ladder to the top because the middle is pretty much non-existent.
And the people at the top? They leave their Ivy League school with their brand new MBA and they start at the top. They shift from this company to that company. Always at the top. They sell insurance, then they sell beer, then they manufacturer airplanes. They don’t understand any of it, but that doesn’t matter — they have pull in the right places.
How are young people supposed to earn $100,000 so they can afford a $500,000 house? That deck is very much stacked against them. And who did it to them? We did.
A median home would be plausible for someone with a median income.
Much of this problem is caused by the inflation of the money supply by "Bidenomics".
I’m 77, raised two sons alone. Never owned a home, never will. Couldn’t afford one when my kids were young. By the time I could, I didn’t need to own a home. At my age, at least my sons won’t have to get rid of a house neither of them wants when I’m gone. One less thing for them to deal with. I don’t own a car, but lease. Much easier to get rid of after the person dies. Don’t even have any pets anymore for the same reason.
not really true, if you save up money for longer and pay for it all or pay much more down.
stop buying $20 coffee, pot, alcohol, and the latest $1,500 smart phones and those fancy rims for your cars and you’d be surprised how much money you suddenly have to save
In Virginia, Northern Virginia pushes up the average, thanks to all the Federal money flowing through there like crack through the veins of a drug addict. Much of the rest of the state is far cheaper, like, for example, Roanoke.