Half of all American workers now make under $41,000 per year. That comes to $3,400 per month. Given the median rent is $1,978 and used car payment is $528, that leaves precisely $894 for everything else — food, utilities, medical insurance and premiums, clothes, car repairs, sick kids, and that once a year dinner out at McDonald’s.
Half of all American workers now make under $41,000 per year.
That comes to $3,400 per month.
Given the median rent is $1,978 and used car payment is $528, that leaves precisely $894 for everything else — food, utilities, medical insurance and premiums, clothes, car repairs,… pic.twitter.com/tP0hFsxVPn
— Peter St Onge, Ph.D. (@profstonge) November 29, 2023
US housing affordability is worse today than the peak of the last housing bubble. The median American household would need to spend 44.7% of their income to afford the median priced home, a record high. pic.twitter.com/ropfOl5AsH
— Charlie Bilello (@charliebilello) November 28, 2023
Comments – Threads – Links
- This is why young Americans cannot afford to live based on their job(s). They can’t afford basics when they make $40k /yr which is not easy starting out in many professions or hourly jobs. One big unplanned expense and it all goes on the Credit Card. Floridanow
- New Social Security Administration data shows the average American worker made $3,400 a month in 2022. That’s before taxes. Let me put it another way: the middle class is no longer the middle class. A median income means you barely scrape by. – Robert F Kennedy
- FACT: The typical American family loses $7,400 in annual income due to skyrocketing interest rates and elevated borrowing costs. American families continue to suffer the consequences of failed economic policies under Biden. – Heritage Foundation
- Bidenomics didn’t improve the economy. Instead, it sparked… Record-breaking 40-year inflation high An annual income loss of $7,300 for the average American family A 35.5% average credit card debt increase – Heritage Foundation
- New data says half of all American workers now make less than $3,400 per month. Take out the median rent ($1,978) and the average used car payment ($528) and it leaves just $894 per month for groceries, utilities, medical insurance and premiums, car repairs, and sick children. The elite don’t see the pain. The rest of America is living it. – FX Hedge