Originally posted by The Thinker
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Salaries were lower but so was everything else. And things were disproportionately lower 30, 40 years ago, especially college and medical costs. College was almost free, or really cheap. Today it costs an arm and a leg. And 40 years ago a bachelor's degree pretty much guaranteed a spot in the middle class, today it does not. This is just over 20 years:
Basically it's only affordable to live on your own as a young adult if you live in the middle of nowhere, where there will be few jobs paying over 30k a year.
Where I live in NYC a 1 bedroom apt rents for $3000 per month in Manhattan, and even in the "cheap" areas it's about $1,500-$2,000. Minimum wage is just over $9 an hour in NY state, but will rise to $15 an hour by 2021. Still, $15 an hour, which is about 30k a year for full time work, can't even get you a 1 bedroom in NYC, unless you want to live in the worst and most violent neighborhoods where you have to worry about being shot everyday.
This is why so many adults still live with their parents in their 20s.
Basically it's only affordable to live on your own as a young adult if you live in the middle of nowhere, where there will be few jobs paying over 30k a year.
Where I live in NYC a 1 bedroom apt rents for $3000 per month in Manhattan, and even in the "cheap" areas it's about $1,500-$2,000. Minimum wage is just over $9 an hour in NY state, but will rise to $15 an hour by 2021. Still, $15 an hour, which is about 30k a year for full time work, can't even get you a 1 bedroom in NYC, unless you want to live in the worst and most violent neighborhoods where you have to worry about being shot everyday.
This is why so many adults still live with their parents in their 20s.
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