re: WSJ Piece: Young Americans Are Getting Left Behind by Rising Home Prices, Higher Stocks

quote:

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Now, this isn’t a personal gripe for me. I own my own home, but my household income is also significantly higher than the median. My point is that “kids these days just want to keep up with the Joneses” is bullshite as an explanation for why young people can’t afford to buy homes.

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People “at the median” in 1990 probably weren’t doing much better than they are now.

I’m guessing you thought you were firmly “middle class” then (don’t we all?), but I suspect most who do had family incomes that were “significantly higher” than the median when looking back.

Here, this says median household income in La was just over 36k in 1990.
LINK

Btw, I also don’t suspect or believe there’s any more a “keep up with the Joneses” mentality now than there was then either.