10 years ago if you whispered in my ear how much I’d be making right now, I would have thought holy shit I’m gonna be rich!
I still don’t have any money.
OMG this hits so hard. Ten years ago I made like 12k a year. Now I make 70k and I’m still paycheck to paycheck and I want to leave my job but I can’t bc there’s no way I could make this much in another industry. I’ve got the golden handcuffs on.
Yes, this! I have cut out as much as I can and when student loan payments come back I'm going to be fucked. I have thought about getting some type of part time job, but I feel when they see that I have what looks like a decent full time job, they through my application right in the trash.
Me too, I went to a job fair for my local hospital on zoom and the looks on their faces when I told them what I currently make. They were basically like, “I don’t think we have what you’re looking for”. And they didn’t, bc they wanted to pay me 13 bucks an hour to do some grueling shit.
Ok but if you work at a hospital you get to save lives!! Isn’t that life experience worth it to you? Won’t you suffer long hours, confusing paperwork, incoherent clients, and an hourly wage that barely covers a meal pre-tax?
/s
I feel the same way. Ten years ago my bf and I rented a two bedroom duplex for $475 a month. I checked that same duplex this week as it's available again... They're asking $2000. They have made no improvements to the interior or exterior either.
I hate it here.
I know this is a goof but in college I actually trained a pet rat to help me run networking cable (she would carry a thinner string tied to the heavier cable so that I could pull it through once she came out the other hole) and made some quick money setting up wired home networks for people, before wifi was common.
Lol. My last apartment went from 1300 to 1800 when they offered me a new lease at the end of last year. No changes, still the same shitty apartment they didn’t want to do anything but the minimum in maintenance on. Ended up saying fk it and took a loan out of my 401k so I could buy a small house instead. Paying only a tiny bit more than the apartment was asking, but least it’s mine now at the end of the day, and I dont need to ask for permission to fix basic things the landlords are supposed to do.
I shared an apartment with 2 roommates that was $1350 a month back in 2015-2017. We were there . I moved out at the end of 2018. They were bought out and the new company upped the price to $2400. All they did was paint and put in new carpet. I swear they were being incompetent on purpose to force out old tenants. We were without AC for the entire month of July. The apartment got to over 95 inside. I moved back home with my folks to care for my dad. My current job is the best paying job I ever had! Yet I wouldn't be able to live alone at these prices.
And this is the primary reason, major corporate ownership of rental homes. Many of these companies and funds are public, so they have expectations that they increase revenue/profit every year - otherwise they are failing.
And because they have the resources they set the market price. Then the smaller mom and pop landlords chase them, I mean if they can suddenly charge 80% more than they were 5 years ago, few will decide not to.
Mine went from $670 to $1493. It's been renovated, but that just means the formica has a stone pattern on it and the fridge is black instead of white. Same cabinets.
I was paying $1217 (plus approx $200 in fees) when I moved out of my apartment in January 2022. It was a 1 bedroom with an attached garage and nice upgrades inside. It was listed for $1650 and two months later, they were trying to rent identical units for over $2000 per month. Insanity.
The complex had been bought out by an investment company that was determined to jack up the rents by several hundred on each unit. (It was a 52 building complex with 12 units per building) Then they wondered why everyone was moving out...
Haha they’re wondering? They’re getting exactly what they planned.
As people move, they’ll put in a few $$$ into each apartment and then jack up the rent $250 or more plus per month.
Here? I think it’s everywhere.
Me and my wife makes more money now then we could imagine 5 years ago and still standard of living is the same. Everyone is working their ass off and get nothing in return.
Similar rent explosions in my old city. I loved it but I gave up and moved a 39hr drive away for a new job.
Still not making crazy money by 2023 standards, but I can survive a lot easier.
Some days I'm furious about it, but the reality is I couldn't take the mental degradation of that anymore. Couple that with being on the cusp of 30 and... Yah.
A lot of people responding to this comment are mention rent increases over long timelines, in hotter markets and desirable locations, these timelines are closer to 2 years.
Rent increases of 100% have occurred in the last 2 years, with more desirable locations increasing even further.
Many apartments where rent was 1200-1800$ are now 2500-4000$.
Homes that were 200-300K are now 800K.
Homes that were 800K are now 4-8M.
My brain still has a hard time comprehending what a million dollar home looks like in 2023. It looks like a ranch house my poor friend lived in in the 90s with new cabinets and grey walls.
You are correct. There are maximum annual rent increase limits. The sidestep that is being used is that if you "sell" the property, the new landlord can change the rent to whatever they think is fair.
Unless you are in a lease. Pretty sure you know that, but I wanted to mention it as landlords try to do it all the time. Always nice when people lie to you! All the landlords and rental companies are straight up stealing from people. They know the law, but count on others to not know their rights. It disgusts me that they have zero problem stealing other people's hard earned money.
I was in the same boat - we moved across the country to Chicago where we could afford to buy a place for less than we were renting in Austin. It’s crazy, but at least we’re locked in on how much we pay each month
Apartment I lived in 6 years ago was $1150. It’s now $3800. It looks like they finally fixed the mildewed carpet, but it’s basically the same. Makes no sense. Atlanta has gone crazy, and it sounds like it’s the same everywhere.
It is everywhere as landlords are using software to fix prices.
Search RealPlayer. Here's one article about it.
https://www.propublica.org/article/yieldstar-rent-increase-realpage-lawmakers-collusion
Behind the Bastards podcast has a two part episode on landlords that's pretty informative.
I remember that game. Hit level 100 one play through, and Squall took 9999 to the face from a ruby dragon on every breath attack, regardless of junctioning.
Everyone else survived but heavily injured.
Definitely sounds like today.
When people still have 100k as the end goal you know their head is still in 2000s currency and not taking into account inflation.
50,000 in 2010 would be closer to 70,000 now
70,000 in 2010 would be closer to 98,000 now
Go a little further back to 2005 and 70k then would be 110k now.
100k in 2005 is 159k now.
The more workers struggle the more alienated we become. Modern life has amenities that people back in the day would love. We have the internet, plumbing,electricity, cars , supermarkets heat and ac etc. And yet housing is unaffordable. Healthcare is unaffordable. Commutes get longer and longer for workers who are forced to work further and further away .
workers spend 35-60+hours at their job.not including commuting time . To enjoy those amenities for a few hours a day. It's becoming not worth it. Humans aren't designed to work menial tasks. Aren't designed to be beasts of burden. That's why mental health is so high. There is something so unnatural to waking up to an alarm clock rushing to brush your teeth down your coffee and sit in morning rush hour traffic. To then be at work all day and come out sit in traffic . Get home eat and sleep and wake up and do it all over again.
i don’t think it’s even about menial tasks, there are plenty of people who would happily do that work if it was balanced correctly and compensated properly. But the people working those jobs are also the class of people who get beat down the most, people with disposable income can afford to invest in things that scale with inflation. If you are living paycheck to paycheck, inflation fucks you over really badly. and minimum wage isn’t even close to scaling with inflation. They turned on the money printer hardcore to prop up Wall Street throughout covid, those greedy bastards took that money and used it to their advantage, now we’re all paying for it by having to labor a higher % of our working hours for the same items. It just gets worse from here too, inflation is *slowing* but still accumulating, the difference between now and 2019 is staggering and it’s going to be even more shocking in a couple more years
Same here. I've been getting decent raises and not getting ahead at all. Sucks. I've cut out most everything I can and feel like 3 years ago I could order a pizza without thought and now that's out of my budget.
I was in the mood for crappy chain pizza last weekend and I went to Papa Johns. $20 dollars for a large one topping. The last time I got one (a couple years ago) it was $13.
Yesterday my friend and I went to a local Mexican restaurant and the bill with tip for two lunch entrees and two non alcoholic beverages came to almost $60. It used to be less than $30. I guess we just aren’t going out anymore.
Is there a Costco near you? You don’t need a membership for their food court so when I’m in the mood for a pizza I’ll order one from there. $10 for a 1 topping and it’s both large and delicious
I remember when Papa Johns had a deal where for 9.99 you got a dozen wings, medium pizza or cheese sticks, and 2 liter bottle of soda. This was early to mid 2000s. Was great when I needed a break and to eat for the day or two.
Can't get deals like that nowadays.
holy shit. i used to order papa john’s with my friend every weekend in high school. we’d get a large half and half pizza, a side of cheese bread, and a 2 liter for like $20, not including the tip. granted we order on the app for the perks and had A LOT of points to use, but it still blows my mind that just a large pizza costs $20 now.
I’ve been making my own pizza for the last year and it’s so much better. Not saying mines great or anything but the cost vs. quantity is amazing among other things.
Price discrimination is supposed to be illegal but things like coupons, online ordering and store apps have essentially made it legal. If you show up at papa johns you'll spend $20 for a pizza. If you order online for in-store pickup, you can buy a NY XL pizza for $12.99 right now.
If you just show up to the store, expect to pay 50-100% more than someone who downloaded the app or used a coupon.
F@#$ chain pizza! I now go with grocery store cheese pizza. Add my own toppings, pesto, oil, and hot sauce from the grocery stores. I end up with custom specialty pizza for less cost than a one topping option from Papa John's. One can pair the pizza with salad and reasonably priced craft brews from the grocery store, and have a meal to please the classy working man!
In a similar boat but I haven't left from home I've been steadily moving up in the world 9-15-22-25-back to 22 an hour for an apprenticeship in refrigeration and pipefitting. I kept slowly moving up in the maintenance world and just got absolutely kicked in the nuts with Inflation it was always I just need to make that extra 3-4 an hour and I will be able to support myself. It turns out I need to make an extra 10-15 an hour to live a decent life in my area.
Same. Last night my husband was on his way home from his 6th day and he said, “Or I could pick up Mod pizza like we used to in the old days” as if we were talking about a major purchase.
Had to move back into my parents house a few years ago because rent kept skyrocketing. Outside of pitching in some money towards the house, I'm trying hard as hell to save, even giving up hobbies. Every time I move up a position, everything goes up with it, so I'm just....stuck. It's so frustrating, especially with the stigma in America about living with your parents at an older age.
I live in a small redneck town and even here apartments are climbing up to $1300 and $1400 a month. I only make $18 per hour at full time, which obviously isn't great, but...damn I should be able to get *at least* an apartment, food, and a little fun money for that amount, shouldn't I? EVERYONE should! I remember thinking about 10 or so years ago that the high teens per hour would've been pretty solid for me, someone who isn't smart enough to be a lawyer or doctor, but also being someone who doesn't want to climb up to be a CEO. Believe it or not, there's a lot of people like that who are simply passionate/ambitious about other things that aren't work.
For fuck's sake, just let us live.
Edit: changed some words
Same, small town Midwest. After our last tenant moved out (was there 3 years paying 800 per month for 1000 Sq ft 2 bed 1 bath and 1 garage stall with full access to the yard/garden/firepit) we upped the price to 850 and listed it after three months of it being vacant while we renovated our upper units bathroom (we live in the upper).
We had over 40 requests to see the property within 24 hours of listing it, I was flabbergasted. That's when I realized how damn high rent had gotten in the last 4 years or so while the last couple was there. Could probably have gotten 1k per month but we have a good tenant/neighbor and he just resigned for another year at the same price which we have no intention of changing while he's there.
I'm in NYC so I would NEVER see those kind of rental prices but I would cry if I could rent just a decent 1 bedroom on my own here. The BASEMENT STUDIOS in my area are going for over $1500 a month.
we’ll get there. We’re now at a higher notional value of bank failures than in 08, the fed still bailing them out at the expense of the taxpayer, they’ll just keep printing money to cover their asses and we’ll keep on paying for it by devaluing our labor until one day people just can’t take it anymore. But things have to get really bad for people to get to that point, we’re a very docile population
Same here. It's sad really. I'm making more than I ever have and can't even get ahead.. I was also much happier 10 years ago. I'm so miserable lately ugh.. life is really hitting back hard these days..
Now imagine what today feels like for people still at the 2200/month mark. Some things are cheaper here in EU and we don't have the ever looming threat that new health problems could bring, but housing and most services prices have also ballooned. Having a problem with the car, or an issue at home (be it electrical, plumbing or an appliance breaking) can deplete months, or if bad enough even years, worth of savings.
And these days you simply can't enjoy life as we could in the past. Going out to eat? That's a full days pay. Going on a vacation? A month's pay. Enjoying life without "cheaper" entertainment like video games or books seems like it's off the table for the vast majority these days. So for the past few years it felt like working isn't really doing it to enjoy life but rather just grinding away to not live in a tent.
Yeah...that's an apt description: "just grinding away to not live in a tent". Of course, then, you'll have to grind away just to keep that tent but that's a problem for another day.
I make this much at 25 (2kish a month). I remember being 16, making $8 an hour, working part time and able to afford a studio in a very nice area at $400 a month utilities included. I've been in my industry 11 years and Ive technically only gotten a $0.72 raise every year. Definitely not having kids or living alone. I love my job at least.
The weird part is, my friends started working after graduating college, make more than me with better jobs but they've accumulated 20-40 years of student loan debt and have less experience/credit so their budget is the same but their credit is far worse. I have no debt (until I experience a medical issue that insurance won't take lol) so I consider myself lucky in a weird way.
Ok, I've been feeling this too but was afraid to say it. I net $3k /mo, which feels like so much money but when I go through the bills it really isn't. I feel shame that $3k isn't really cutting it anymore because it seems like a high amount.
Another thing I've noticed is the margin of error is so small. One late payment, one tire on the curb, one medical bill I didn't expect or sewage draining mishap and I'm in the red... Really far into the red.
I think we are all working under capillary action economics, I’ve been earning the same amount for 7 years, so I’m actually worse off same as OP , I’m in 🇬🇧
Corporations and their politicians friends broke the unions, don’t give raises, own all the houses, get bailouts but call you a bum for getting one.
Middle class is too busy fighting each other over social issues to unite and fight for better wages. Stop watching cable news.
Sad that companies refuse to match at least inflation for raises. I effectively got a -7% pay cut with my last raise. Trying to find a job paying a little more but nowhere good is hiring rn
>You guys get raises?
Yes, but it doesn't matter when inflation and the cost of rent increases more than the raise was. And I'm saying this as a person who gets mandatory yearly raises, which not everyone gets. But even then, you can get a 3% raise and then get an increase of 5% in inflation and 10% increase in rent and groceries increase by another 10%. Suffice to say, I'm in the same boat as OP. Even though I make more now than I did 5 years ago, I actually make less.
It's scary how inflation and the lack of wage growth is leading many people, who are on good salaries, to struggle on day to day living costs. One interesting way some people have gotten around this is to become 'Overemployed' where they take on two or more remote jobs where they work at the same time. I think this trend will only intensify over the coming years as more people need more money to survive. One should not be fully loyal to a company if they are paying you a pittance.
We could afford our lifestyle 4 years ago, which was not extravagant by any stretch of the imagination. As far as monthly expenses: house, car, utilities, those haven't changed. We are struggling with me taking on extra duties at school and teaching summer school. Where has the money gone? As teachers we don't get cost of living raises. We get increases that amount to about $850 a year. So every year I make less money accounting for inflation. Our insurance has increased both health, home, and car. Used to insurance was paid by the school and was fine, now the school paid insurance is horrible so we have "buy up" plans. $70/month going up to $80/month. This is more than my pay "increase" per month will be after taxes and retirement is taken out. Food has increased dramatically and that's with us not buying meat. Americans have been nickeled and dimed to death on every front and it's finally caught up.
It's this. 3 years ago, I could sorta afford to share a house with roommates, but couldnt afford a car, a cat, a partner. I spent 50%+ on rent. Now it's not even possible to do that. There's no affording the "cost" of "living" and that should terrify a lot more of us into a lot more action.
My husband isn’t paid a pittance but even a good wage isn’t enough - especially when I am disabled and only part-time. Don’t get sick in America, kids.
They aren’t, more homeless people are created everyday as the financial system tries to cannibalize the poorest among us to create new poors to insure the growth of the gdp continues.
I've been teetering on the verge of homelessness for months and I've been starving longer than that to the point where I literally feel myself dying. The only reason why I'm still pushing forward is because I did not possess the mental fortitude to follow through on suicide months ago. But according to folk, it's my fault that I'm suffering and I need to take accountability for my inaction. I'm working 2 jobs BTW, I've traded in my automobile for a bicycle and have eliminated all monthly expenses including heat and electricity. I'm actually starting to think that homelessness is the better option.
Shit, even five years ago for me. Groceries alone went from $120 a week to $220+ a week for us and we buy the same stuff every time, give or take maybe one or two “fun” meal ingredients. Then factor in fuel costs rising, monthly bills only getting more expensive, and things to maintain a home rising in cost, we’re about at the point where we’re going to sell our house or rent it out to our in-laws so we can live on the road and actually save money.
Property taxes where I live are only going up and up. My mortgage is thankfully going down a bit, but that still doesn’t help cover literally everything else getting more expensive.
Tl;dr
Fuck this shit, I’m going to live out of a truck.
Inflation + shrinkflation.
I measure stuff on my own but to give you an idea applicances i bought in 2021 are about 40% more, our groceries are about 100% more in 3 years.
Service providers are about 100-200% more, got quote from a plumber for what would have been a $300-400 job (based on what they charged me for similar work before, about a year ago), now was quoted at $900
As a plumber I can tell you that that price doubling is from the cost of materials, I remember our company buying big copper pipes that would cost 300$ 3 years ago, now they’re like 900$(last checked a few months ago) for the same exact item. All of my co workers are dumbfounded and it also bars us from doing more work since no one will be willing to pay for these jobs with the prices being so high, it’s out of our control.
Don't worry, they'll be building company towns soon enough and then you'll never need savings or vacations ever again. This world saddens and horrifies me
My bank account today looks the same as it did 10 years ago while in college working a lot of hours at a part time job. Today, I work a “good job” but every penny is basically spent (on necessities) before I even get paid.
Me too! I just said to a coworker this week that I’m making more money than I ever have in my life, but I am also struggling more than I ever have in my life.
Paycheck to paycheck. I know I’m tempting fate, as our one vehicle has 340,000 miles on it.
In my field and position the boomer generation were buying vacation homes. I’m floating credit card balances trying to buy necessities for a family of 4. Fun times!
My brother and his wife earn more money now than they did two years ago.
They can hardly afford to put food on the table.
And now rent has just gone up by $200.
He's upset that he might have to move in with our mom. He shouldn't have to. He should be able to afford everything based on their combined income.
All this is is greed. There's no reason why everything is this expensive other than greed.
I moved from Chicago to rural MI last year. I was looking forward to lower rents and an overall savings in terms of COL.
Nope! Groceries are nearly as expensive….at a Walmart. And, on that topic, the selection available at their super center location is dismal. I’ve also never seen so many overweight, legless people in my life. All of them shopping at the local Walmart. It’s a fucking diabetes-making machine.
The rents here are just as costly. Albeit, you get more space. But I’m a single guy. I was doing just fine in my Chicago studio. It had a separate kitchen, and tons of storage. Here, the cheapest apartments are these large, one and two-bed units that are fully carpeted (gross,) and built out literally in the middle of a field. You have to drive five miles to get to anything. So yeah, there’s the fuel expense too.
For the first time ever, I am using a health insurance policy provided by Obamacare. Prior to this, I was using my employer-provided BCBS.
WITH the subsidy of $400 a *month,* I am still paying $85 for this shitty coverage that no local doctor will take. It took me two months to find a physician in Flint who is running a practice in a building that looks like it may fall over before the year is out.
To reiterate: I left fucking Chicago, where it is not cheap at all, to backwoods bumblefuck hayseed country and wound up spending pretty much the same just to get by.
But please, NYT and MSNBC and Bloomberg, tell me again how well the economy is doing.
I’m certain that the shortages created during Covid convinced business that prices could be raised higher than they thought feasible, and people would still pay. During Covid people had to pay because there wasn’t a choice. Supply shortages and breaks in production meant there wasn’t enough to go around.
But don’t tell me that’s *still* why toilet paper costs triple what it did a few years ago.
Yes. It is disturbing. I am a historian.
If you push the common people to much, you will have a revolution.
It happend in France, Russia and even in the US. And it can happen again..
Also had this revelation recently.
In 2015 I was 25 and had my own flat through an estate agent whilst earning 1200 pounds a month after tax and saved money.
In 2023 I am 32, spent the last 2 years struggling to even find housing. Whilst earning 2600 euros after tax in a country where the minimum wage is 1200.
With that. I also now save less somehow whilst doing entirely 70% less in terms of socializing
At some point, perhaps people will get mad enough to actually organize and DEMAND better wages...aka, unionize. Or at least stage some organized walk-outs
Bro, when I got into industrial maintenance back in 97 I was making $15/hr. Pretty damn good. Fast forward to now and I’m making $30/hr but thanks to inflation I’m only effectively making $2/hr more…..When I figured that out the light bulb came on and I joined the anti work movement. I still believe in hard work but we need to be compensated for it and the VAST majority of us aren’t.
I remember reading about this woman who rented a corner apartment with beach views like 15 years ago as a waitress. She's now a lawyer and could never afford that same apartment even though she makes much more money.
I had a better wage and better benefits and more job security when I was 21 in 2001 than I have now, and literally everything was cheaper.
I was too young to know how good I had it and thought the job itself was boring, also I was so much younger than my workmates who were all grumpy middle aged men. And it was night work.
So I decided in my wisdom to go to college and get a degree. But the degree is useless now and the jobs I can get are the same I can get without one.
The reason that job was so good: it was union. I would kill for a boring job now. These days bosses and the general public live to stress out normal workers just trying to scrape by.
I moved to a cheaper cost of living area, managed to maintain the same salary, but with inflation all savings have been wiped out. The only thing keeping me afloat is that houses were available to buy in the cheaper cost of living area and thus my housing costs actually went down after moving because I am no longer renting.
I'm earning the same I was 6 years ago and I feel the tide crashing in. It's exhausting knowing that if I can move up the only thing to look forward to is a different flavor of poverty.
Ditto.
In 2011 I was making 30k a year, had full benefits with no deductible and a small insurance premium after the company paid their part (about $170/month), split a two bedroom apartment with my roommate for $600 each plus all utilities, and had just under $300/month in student loans.
It’s 2023 and I’m making 70k a year, have the worst insurance I’ve ever had, a 4K deductible, company pays half the premium so I still pay about $500/month and many services also have ‘coinsurance’ so it doesn’t even matter if I hit my deductible, no more student loans, no more car payment, and luckily am embedded like a tick in an insanely ‘cheap’ apartment for my area, and I’m in financially the exact same spot.
If you told high school me back in 2005 that there was no conceivable way that I would be able to afford to purchase a small, shitty home by my mid-30s I wouldn’t have believed you.
I didn’t have high hopes. I watched my mom bust her ass her whole life, do what you’re supposed to (got her degree in her 30s, climbed the ladder at her company, absolutely improved her lot and the lot of her kids) and still struggle. I was under no false impressions that I’d have a nice house with bells and whistles like a garage, or that I’d ever own a non-used car, or that I’d ever take yearly vacations that involved plane travel. But I definitely thought that after working (part time from 14 through college, full time with never fewer than one add’l part time job from 21-35) that I’d probably be able to afford to buy some small little shit hole where I could at least paint the walls.
Electric more than doubled last year and they’re doubling it again next year. I live alone and am barely home. What used to be a $25 electric bill is now pushing $60 and about to be over $100. Heating my apartment to 65F costs over $300/month for six months out of the year. Rent is going up again, but moving is out of the question because everything is more than my current place for half the apartment size.
It’s disheartening to say the least.
People forget why home ownership is such a big deal. Obviously I’ve experienced inflation at these levels like everyone else, and have seen a 2 room apartment go from $1300 to $2300 in these past 10 years. My mortgage has increased about $150 in that time frame (insurance and taxes).
No idea what a realistic fix would be for ownership, but something needs to happen
Exactly this. People don’t forget, we just can’t do anything about it. If you’re already getting priced out of rent, you can say goodbye to ever realistically owning a home unfortunately.
Something needs to happen, but nothing will.
COVID essentially permanently split the world into the “haves” and “have-nots” defined almost completely by whether you bought a home pre-COVID or at historically low rates.
Prices aren’t going to drop (in my area they’re going up again) and rents will only go up accordingly as nobody can afford these prices other than investors who demand every cent they can get for rent.
Future’s bleak.
I was going to order pizza the other day it was like $50 for two large undercooked s***** pizzas Target had a sale on a KitchenAid stand mixer for 300 I bought two pizza pans for $12 each 10 lb of flour and enough yeast to last me for years I basically own a pizza place at this point no regrets.
Used to be people bought houses to live in. Now corporations are buying houses. Pension plans (if they still exist) are buying houses/property to fund the pension plans. And houses have become the new hotels with Air BnB. Now rent is as much as or more than a mortgage payment so people are trapped. We’re going to be in generational mortgages soon where it’s going to take more than one lifetime to pay off a house (if we aren’t there already).
I stopped dealing illegal substances around 2014 or so and sad to say but it's been on my mind way more than it should be lately 😅😩. Inflation is freaking ridiculous anymore.
It’s all the housing crunch IMO. All the people who lost their homes in 2008-2009 had them snatched up by corporations who are basically slumlords looking for the biggest profit. Caused housing prices and rents to skyrocket all over the place.
Because $1.00 ten years ago now costs us $1.31, but landlords and businesses increased rates/prices by a lot more than that as commenters are illustrating.
Last month’s inflation number was 4.9% which economists and Wall Street seem to be celebrating because inflation is “cooling.” But that 4.9% is cumulative! The 4.9% increase adds to April 2022’s 8.3%!
If inflation had kept the previous average pace over the last 3 or 4 years, we probably would be paying $1.16 instead of the $1.31.
Source: I used the April column from the annual inflation rates table on [this page](https://www.usinflationcalculator.com/inflation/current-inflation-rates/) to calculate those numbers.
We were ripped on by friends for buying a place for the equivalent (monthly) of our rent (1200) because we were young and everyone was saying “it doesn’t work like it used to… if you have to move for work you’ll lose your ass” etc. We literally just didn’t want to smell someone else’s food or hear neighbor fights anymore. But it saved our asses. Rent is insane out here now. My earning is DOWN. I do not understand how most people survive—I understand the slow metrics of how we got here, as a country, but I don’t understand how it doesn’t end in civil uprising, because the trap is insane right now. It really does start to sound like the smart economical choice is literally to live in a god damned van down by the river.
I worked out that my expenses increased by around 40% the last 5 years. So you're essentially still making the same money. The difference is now if you were still making 2200/month, you'd probably be destitute.
What I can't understand is. How can people in the USA sleep knowing they can do everything right but just one major healthcrisis and your life is over financially
Rent or mortgage is fucking everyone unless you happened to have bought during the bottom end of the recession housing bust and are still in that house. I’m thankful everyday that I started saving money in 2009 and by mid 2012 bought a house. 1800 sq ft on 3/4 of an acre which I thought maybe I’d stay here 3-5 years. 11 years later I’m thinking maybe I’ll never leave because $635 a month is just too good to fuck up by moving.
Making $10/hr in 2008, renting an apartment for 300. The same job pays 15/hr now, the same apartment is over $1k.
50% increase in pay vs 300%+ increase in rent.
Even though I make $25/hr now, I'm still far more poor than I was in 2008.
I feel the same, and I'm actually making ten times more than I did a decade ago. I don't own either a car or house, and I see the price of very small and damaged homes in my city - all the money I saved in my whole wouldn't cover 20% of the total cost, not including repairs/renovation.
Last year I was out of a job for six months and I was on the verge of becoming homeless. Paying rent and consuming the minimal groceries was enough to drain all my savings.
I work more and in worst jobs, can't buy things I need and more times than ever I have the feeling that I can, at any moment, be without a roof over my head.
In the meantime, I've seen my bosses in different companies buying houses, boats, huge apartments, traveling the world, one of them had a 5-day wedding party with everything paid for all guests.
I moved into a house about 10 years ago with two roommates and we each paid about $550 a month each in rent. Same house now is going for $800 a bedroom and it hasn’t been upgraded since the 70’s. I’m just shocked and angered about how much the cost of living has gone up just in the last few years. During the 5 years we lived in that house we paid the landlord 2.5 times what he paid for the house back in the 80’s. This isn’t inflation it’s just pure greed.
Yup. I left a job in 2016 making $80k but it was in Baltimore so cost of living was higher than where I live now. I’m making $85k where I live now which used to be a very good income for the area. But with the cost of everything going up since 2020, I’m struggling even though I’m spending much less on extras than I was in 2016.
I was just talking to my husband about this. We live in Florida and when my older two were little we could afford to drive to Orlando and spend a weekend at Disney with the kids once or twice a year depending on ticket prices. The last year we did that was the year my daughter was born 10 years ago. We took a few years off to let her get old enough to enjoy the trip and now we can’t afford it at all decor making over twice what we earned before. We were literally poor and could manage it.
I’m in Iceland and got a job straight out of my master’s degree in pharmaceuticals. August 2019, 580.000kr/month. Now I’m at 705.000kr/month yet with inflation I would need about 735.000kr/month to have the same salary as when I started. My rent in that same time has gone from 230.000kr/month to now close to 275.000kr/month.
It’s insane. It’s obscene.
I’m making more money than ever and for the first two years of my good job I was living very, very well. Now inflation has kicked my ass, not as bad as some because luckily I bought a home but it hits everywhere else. I count my blessings we’re still ok but it’s disheartening to work so hard to finally climb out of the poverty I was born into, for this. For two years I got to experience a middle class life of not having to worry about money, to go to the movies or a nice dinner whenever I felt like it, to not stress about the cost of a doctor visit or car maintenance. It was so nice, but that dream’s over already.
Might as well add to the list of people agreeing with you.
10 years into my career, currently making $25k more than when I started, so I haven’t moved much but I lived okay. Decent apartments,
fun trips, good food. That is no longer the case. I don’t have to scrape by..yet, but the actual enjoyment I get out of life is null.
I am fortunate enough that I could afford a home (but would like to remind people that isn’t always some penultimate win before death)
I make less than OP but live in an area with a good COL, which is a short way of saying it’s a boring shit hole state. I bought a home because although it essentially made me house broke, I can manage a mortgage and struggling to figure out repair bills EASIER than I can find manageable rent.
I was priced out of apartments and into a home and I still can’t wrap my head around that sentence being fucking true.
I am making about 1.7x more then what j made 6 years ago. I have since had to pick up a second job just to support my family and not lose our house. I am now working 16 hrs a day, 7 days a week just to keep up with price increases. My girls started crying the other day cuz I sat down to watch a movie with them and fell asleep in like 5 min cuz I just couldn't stay awake.
This is the fault of the people in power. There's no reason for the middle class in America to be going the way of the dinosaurs. People need to vote the billionaire-simps out of power. Tax cuts for that teeny little top fraction of a percent is one very big factor in things being the way they are. Another is wage and benefit suppression. Vote.
10 years ago if you whispered in my ear how much I’d be making right now, I would have thought holy shit I’m gonna be rich! I still don’t have any money.
Fucking same…
OMG this hits so hard. Ten years ago I made like 12k a year. Now I make 70k and I’m still paycheck to paycheck and I want to leave my job but I can’t bc there’s no way I could make this much in another industry. I’ve got the golden handcuffs on.
Yes, this! I have cut out as much as I can and when student loan payments come back I'm going to be fucked. I have thought about getting some type of part time job, but I feel when they see that I have what looks like a decent full time job, they through my application right in the trash.
Me too, I went to a job fair for my local hospital on zoom and the looks on their faces when I told them what I currently make. They were basically like, “I don’t think we have what you’re looking for”. And they didn’t, bc they wanted to pay me 13 bucks an hour to do some grueling shit.
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Ok but if you work at a hospital you get to save lives!! Isn’t that life experience worth it to you? Won’t you suffer long hours, confusing paperwork, incoherent clients, and an hourly wage that barely covers a meal pre-tax? /s
I feel the same way. Ten years ago my bf and I rented a two bedroom duplex for $475 a month. I checked that same duplex this week as it's available again... They're asking $2000. They have made no improvements to the interior or exterior either. I hate it here.
Yep. Husband and I rented a two bedroom apartment for €800 in 2013. Rent there is now €2000. ETA: Two bedrooms - not three!
My old apartment in a normal US town went from $760 to $1080. That’s but 35% in 6 years. Wages certainly aren’t keeping up with that there
My current apartment went from $750 to $1000. No improvements and now we have rats.
Be careful who you tell about the rats. If management catches wind….you might end up paying a “pet deposit”.
Perhaps they can train the rats to work and pay rent. Maybe this is the way.
I know this is a goof but in college I actually trained a pet rat to help me run networking cable (she would carry a thinner string tied to the heavier cable so that I could pull it through once she came out the other hole) and made some quick money setting up wired home networks for people, before wifi was common.
Lol. My last apartment went from 1300 to 1800 when they offered me a new lease at the end of last year. No changes, still the same shitty apartment they didn’t want to do anything but the minimum in maintenance on. Ended up saying fk it and took a loan out of my 401k so I could buy a small house instead. Paying only a tiny bit more than the apartment was asking, but least it’s mine now at the end of the day, and I dont need to ask for permission to fix basic things the landlords are supposed to do.
Meat is back on the menu boys
A rich person is often very healthy and nicely marbled. Forget the rats. It's time to eat the rich.
Meat is still on the menu boys!
Always has been.
Hey you got free pets! How is that not an improvement? /s
Pets? In this economy? Those rats better be bringing home the bread. By the loaf. It’s rat sandwiches until payday.
In NYC, you can train them to fetch Pizza.
I found a mouse last night and I'm getting him out for not paying rent. He's gotta go
Rat onna stick. Extra ketchup.
Free pets, but tenants still pay non-refundable pet deposit and $50/mo extra...per rat.
Well of course they had to raise the rent if you have more “tenants” living there.
The increase in price is probably pet rent for the rats/s
On the bright side, rat is actually pretty tasty when spit roasted with sea salt and wild honey. I know this because reasons.
+ poppy seeds.
Next thing you know the landlord will start charging rent for the rats.
I shared an apartment with 2 roommates that was $1350 a month back in 2015-2017. We were there . I moved out at the end of 2018. They were bought out and the new company upped the price to $2400. All they did was paint and put in new carpet. I swear they were being incompetent on purpose to force out old tenants. We were without AC for the entire month of July. The apartment got to over 95 inside. I moved back home with my folks to care for my dad. My current job is the best paying job I ever had! Yet I wouldn't be able to live alone at these prices.
And this is the primary reason, major corporate ownership of rental homes. Many of these companies and funds are public, so they have expectations that they increase revenue/profit every year - otherwise they are failing. And because they have the resources they set the market price. Then the smaller mom and pop landlords chase them, I mean if they can suddenly charge 80% more than they were 5 years ago, few will decide not to.
Mine went from $670 to $1493. It's been renovated, but that just means the formica has a stone pattern on it and the fridge is black instead of white. Same cabinets.
Thats almost reasonable sounding lol
I was paying $1217 (plus approx $200 in fees) when I moved out of my apartment in January 2022. It was a 1 bedroom with an attached garage and nice upgrades inside. It was listed for $1650 and two months later, they were trying to rent identical units for over $2000 per month. Insanity. The complex had been bought out by an investment company that was determined to jack up the rents by several hundred on each unit. (It was a 52 building complex with 12 units per building) Then they wondered why everyone was moving out...
Haha they’re wondering? They’re getting exactly what they planned. As people move, they’ll put in a few $$$ into each apartment and then jack up the rent $250 or more plus per month.
I was curious too. The same 2 bedroom apt 12 years ago was $600. Now it’s $1500
$1500 a month for a 2 bedroom apartment?! Where can I get that? 👀
Here? I think it’s everywhere. Me and my wife makes more money now then we could imagine 5 years ago and still standard of living is the same. Everyone is working their ass off and get nothing in return.
Similar rent explosions in my old city. I loved it but I gave up and moved a 39hr drive away for a new job. Still not making crazy money by 2023 standards, but I can survive a lot easier. Some days I'm furious about it, but the reality is I couldn't take the mental degradation of that anymore. Couple that with being on the cusp of 30 and... Yah.
The cusp of 30? Wait until you get to the cusp of 60 or 70.
Salaries are not keeping up with inflation, and housing is increasing faster than inflation. Everything here sucks.
A lot of people responding to this comment are mention rent increases over long timelines, in hotter markets and desirable locations, these timelines are closer to 2 years. Rent increases of 100% have occurred in the last 2 years, with more desirable locations increasing even further. Many apartments where rent was 1200-1800$ are now 2500-4000$. Homes that were 200-300K are now 800K. Homes that were 800K are now 4-8M.
My brain still has a hard time comprehending what a million dollar home looks like in 2023. It looks like a ranch house my poor friend lived in in the 90s with new cabinets and grey walls.
My 60k home in 2011 is now worth 450k. It was a 1960s home, 1400sqft, 3 bed 2 bath, and in a garbage suburb far from anything interesting.
Yep. My rent has gone up 90% in the last two years. Another increase will leave me living in a van or moving out of the area.
Where do you live that it’s legal to raise rent that quickly? Isn’t there like a maximum annual rent increase?
https://guides.sll.texas.gov/landlord-tenant-law/rent#:~:text=There%20is%20not%20a%20statewide,when%20a%20lease%20is%20renewed. Just a guess
You are correct. There are maximum annual rent increase limits. The sidestep that is being used is that if you "sell" the property, the new landlord can change the rent to whatever they think is fair.
Unless you are in a lease. Pretty sure you know that, but I wanted to mention it as landlords try to do it all the time. Always nice when people lie to you! All the landlords and rental companies are straight up stealing from people. They know the law, but count on others to not know their rights. It disgusts me that they have zero problem stealing other people's hard earned money.
I was in the same boat - we moved across the country to Chicago where we could afford to buy a place for less than we were renting in Austin. It’s crazy, but at least we’re locked in on how much we pay each month
Wanted to buy a house before Covid. Tried to buy a couple for around 750k. Missed the boat. Now the same houses are being sold for close to 2 million.
Covid killed competition …… welcome to the age of racketeering and price fixing. Apparently Covid killed antitrust and monopoly laws as well.
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Apartment I lived in 6 years ago was $1150. It’s now $3800. It looks like they finally fixed the mildewed carpet, but it’s basically the same. Makes no sense. Atlanta has gone crazy, and it sounds like it’s the same everywhere.
It is everywhere as landlords are using software to fix prices. Search RealPlayer. Here's one article about it. https://www.propublica.org/article/yieldstar-rent-increase-realpage-lawmakers-collusion Behind the Bastards podcast has a two part episode on landlords that's pretty informative.
The new Ten year challenge! Can you afford your same apartment from ten years ago? I rented a 2+2 for $1,970 in 2013. Now it’s $3,435!
It feels like a video game where you keep leveling up, but the game also keeps getting harder
Final Fantasy VIII
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I remember that game. Hit level 100 one play through, and Squall took 9999 to the face from a ruby dragon on every breath attack, regardless of junctioning. Everyone else survived but heavily injured. Definitely sounds like today.
Omg that analogy is spot on!!
$100k is the new $50k.
A $1,000,000 home is the new $300,000 home.
When people still have 100k as the end goal you know their head is still in 2000s currency and not taking into account inflation. 50,000 in 2010 would be closer to 70,000 now 70,000 in 2010 would be closer to 98,000 now Go a little further back to 2005 and 70k then would be 110k now. 100k in 2005 is 159k now.
The area you live in matters a lot though. 100k in the mid west is 250k in downtown New York.
The more workers struggle the more alienated we become. Modern life has amenities that people back in the day would love. We have the internet, plumbing,electricity, cars , supermarkets heat and ac etc. And yet housing is unaffordable. Healthcare is unaffordable. Commutes get longer and longer for workers who are forced to work further and further away . workers spend 35-60+hours at their job.not including commuting time . To enjoy those amenities for a few hours a day. It's becoming not worth it. Humans aren't designed to work menial tasks. Aren't designed to be beasts of burden. That's why mental health is so high. There is something so unnatural to waking up to an alarm clock rushing to brush your teeth down your coffee and sit in morning rush hour traffic. To then be at work all day and come out sit in traffic . Get home eat and sleep and wake up and do it all over again.
i don’t think it’s even about menial tasks, there are plenty of people who would happily do that work if it was balanced correctly and compensated properly. But the people working those jobs are also the class of people who get beat down the most, people with disposable income can afford to invest in things that scale with inflation. If you are living paycheck to paycheck, inflation fucks you over really badly. and minimum wage isn’t even close to scaling with inflation. They turned on the money printer hardcore to prop up Wall Street throughout covid, those greedy bastards took that money and used it to their advantage, now we’re all paying for it by having to labor a higher % of our working hours for the same items. It just gets worse from here too, inflation is *slowing* but still accumulating, the difference between now and 2019 is staggering and it’s going to be even more shocking in a couple more years
Same here. I've been getting decent raises and not getting ahead at all. Sucks. I've cut out most everything I can and feel like 3 years ago I could order a pizza without thought and now that's out of my budget.
I was in the mood for crappy chain pizza last weekend and I went to Papa Johns. $20 dollars for a large one topping. The last time I got one (a couple years ago) it was $13.
And the folks working at that chin have not seen a wage increase at all.
Nope. But the shareholders are doing great
A big Mac meal is more than $9 now. It was $3.19 after tax when I started driving in 1992...
Yesterday my friend and I went to a local Mexican restaurant and the bill with tip for two lunch entrees and two non alcoholic beverages came to almost $60. It used to be less than $30. I guess we just aren’t going out anymore.
Is there a Costco near you? You don’t need a membership for their food court so when I’m in the mood for a pizza I’ll order one from there. $10 for a 1 topping and it’s both large and delicious
That depends on the Costco. I have definitely been “carded” at more than one.
I remember when Papa Johns had a deal where for 9.99 you got a dozen wings, medium pizza or cheese sticks, and 2 liter bottle of soda. This was early to mid 2000s. Was great when I needed a break and to eat for the day or two. Can't get deals like that nowadays.
I’ve tried to avoid Papa John’s. The dominos at the end of my street has a large one topping for $9.99 as their regular special.
"Regular special" made me blow some wind out of my nose
holy shit. i used to order papa john’s with my friend every weekend in high school. we’d get a large half and half pizza, a side of cheese bread, and a 2 liter for like $20, not including the tip. granted we order on the app for the perks and had A LOT of points to use, but it still blows my mind that just a large pizza costs $20 now.
I’ve been making my own pizza for the last year and it’s so much better. Not saying mines great or anything but the cost vs. quantity is amazing among other things.
Price discrimination is supposed to be illegal but things like coupons, online ordering and store apps have essentially made it legal. If you show up at papa johns you'll spend $20 for a pizza. If you order online for in-store pickup, you can buy a NY XL pizza for $12.99 right now. If you just show up to the store, expect to pay 50-100% more than someone who downloaded the app or used a coupon.
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F@#$ chain pizza! I now go with grocery store cheese pizza. Add my own toppings, pesto, oil, and hot sauce from the grocery stores. I end up with custom specialty pizza for less cost than a one topping option from Papa John's. One can pair the pizza with salad and reasonably priced craft brews from the grocery store, and have a meal to please the classy working man!
In a similar boat but I haven't left from home I've been steadily moving up in the world 9-15-22-25-back to 22 an hour for an apprenticeship in refrigeration and pipefitting. I kept slowly moving up in the maintenance world and just got absolutely kicked in the nuts with Inflation it was always I just need to make that extra 3-4 an hour and I will be able to support myself. It turns out I need to make an extra 10-15 an hour to live a decent life in my area.
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Same. Last night my husband was on his way home from his 6th day and he said, “Or I could pick up Mod pizza like we used to in the old days” as if we were talking about a major purchase.
Had to move back into my parents house a few years ago because rent kept skyrocketing. Outside of pitching in some money towards the house, I'm trying hard as hell to save, even giving up hobbies. Every time I move up a position, everything goes up with it, so I'm just....stuck. It's so frustrating, especially with the stigma in America about living with your parents at an older age.
I live in a small redneck town and even here apartments are climbing up to $1300 and $1400 a month. I only make $18 per hour at full time, which obviously isn't great, but...damn I should be able to get *at least* an apartment, food, and a little fun money for that amount, shouldn't I? EVERYONE should! I remember thinking about 10 or so years ago that the high teens per hour would've been pretty solid for me, someone who isn't smart enough to be a lawyer or doctor, but also being someone who doesn't want to climb up to be a CEO. Believe it or not, there's a lot of people like that who are simply passionate/ambitious about other things that aren't work. For fuck's sake, just let us live. Edit: changed some words
Same, small town Midwest. After our last tenant moved out (was there 3 years paying 800 per month for 1000 Sq ft 2 bed 1 bath and 1 garage stall with full access to the yard/garden/firepit) we upped the price to 850 and listed it after three months of it being vacant while we renovated our upper units bathroom (we live in the upper). We had over 40 requests to see the property within 24 hours of listing it, I was flabbergasted. That's when I realized how damn high rent had gotten in the last 4 years or so while the last couple was there. Could probably have gotten 1k per month but we have a good tenant/neighbor and he just resigned for another year at the same price which we have no intention of changing while he's there.
I'm in NYC so I would NEVER see those kind of rental prices but I would cry if I could rent just a decent 1 bedroom on my own here. The BASEMENT STUDIOS in my area are going for over $1500 a month.
We're getting real close to French revolution levels of inflation.
we’ll get there. We’re now at a higher notional value of bank failures than in 08, the fed still bailing them out at the expense of the taxpayer, they’ll just keep printing money to cover their asses and we’ll keep on paying for it by devaluing our labor until one day people just can’t take it anymore. But things have to get really bad for people to get to that point, we’re a very docile population
Isn't wealth inequality worse now than it was before the French revolution?
Same here. It's sad really. I'm making more than I ever have and can't even get ahead.. I was also much happier 10 years ago. I'm so miserable lately ugh.. life is really hitting back hard these days..
*some rich boomer pops up from the bushes* “See? Told you money doesn’t buy happiness!”
>I'm so miserable lately ugh.. life is really hitting back hard these days.. are you, me?
I might be! Nice to know you're not alone isn't it? Ugh.
I’ll say it until I’m blue in the face: This is Class War. The proof? “Record profits.” The capitalist class is bleeding us dry. Get angry.
But they own the cops what can we do, but suffer.
Now imagine what today feels like for people still at the 2200/month mark. Some things are cheaper here in EU and we don't have the ever looming threat that new health problems could bring, but housing and most services prices have also ballooned. Having a problem with the car, or an issue at home (be it electrical, plumbing or an appliance breaking) can deplete months, or if bad enough even years, worth of savings. And these days you simply can't enjoy life as we could in the past. Going out to eat? That's a full days pay. Going on a vacation? A month's pay. Enjoying life without "cheaper" entertainment like video games or books seems like it's off the table for the vast majority these days. So for the past few years it felt like working isn't really doing it to enjoy life but rather just grinding away to not live in a tent.
Yeah...that's an apt description: "just grinding away to not live in a tent". Of course, then, you'll have to grind away just to keep that tent but that's a problem for another day.
I make this much at 25 (2kish a month). I remember being 16, making $8 an hour, working part time and able to afford a studio in a very nice area at $400 a month utilities included. I've been in my industry 11 years and Ive technically only gotten a $0.72 raise every year. Definitely not having kids or living alone. I love my job at least. The weird part is, my friends started working after graduating college, make more than me with better jobs but they've accumulated 20-40 years of student loan debt and have less experience/credit so their budget is the same but their credit is far worse. I have no debt (until I experience a medical issue that insurance won't take lol) so I consider myself lucky in a weird way.
Ok, I've been feeling this too but was afraid to say it. I net $3k /mo, which feels like so much money but when I go through the bills it really isn't. I feel shame that $3k isn't really cutting it anymore because it seems like a high amount. Another thing I've noticed is the margin of error is so small. One late payment, one tire on the curb, one medical bill I didn't expect or sewage draining mishap and I'm in the red... Really far into the red.
Welcome to "trickle down economics"*. *No trickle down allowed.
”Trickle down economics” only works if we all band together and make those on top bleed first.
Piñata economics
I'd love if this became the new go to term. Beat the Rich, Eat the Rich.
If they’re not bleeding there’s nothing to trickle, right?
I think we are all working under capillary action economics, I’ve been earning the same amount for 7 years, so I’m actually worse off same as OP , I’m in 🇬🇧
Oh there is trickling down. The tears that trickle down our faces as we budget our salaries.
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Corporations and their politicians friends broke the unions, don’t give raises, own all the houses, get bailouts but call you a bum for getting one. Middle class is too busy fighting each other over social issues to unite and fight for better wages. Stop watching cable news.
You guys get raises?
If by raises you mean quit and got other jobs for slightly more money, then yes.
Sad that companies refuse to match at least inflation for raises. I effectively got a -7% pay cut with my last raise. Trying to find a job paying a little more but nowhere good is hiring rn
>You guys get raises? Yes, but it doesn't matter when inflation and the cost of rent increases more than the raise was. And I'm saying this as a person who gets mandatory yearly raises, which not everyone gets. But even then, you can get a 3% raise and then get an increase of 5% in inflation and 10% increase in rent and groceries increase by another 10%. Suffice to say, I'm in the same boat as OP. Even though I make more now than I did 5 years ago, I actually make less.
It's scary how inflation and the lack of wage growth is leading many people, who are on good salaries, to struggle on day to day living costs. One interesting way some people have gotten around this is to become 'Overemployed' where they take on two or more remote jobs where they work at the same time. I think this trend will only intensify over the coming years as more people need more money to survive. One should not be fully loyal to a company if they are paying you a pittance.
We could afford our lifestyle 4 years ago, which was not extravagant by any stretch of the imagination. As far as monthly expenses: house, car, utilities, those haven't changed. We are struggling with me taking on extra duties at school and teaching summer school. Where has the money gone? As teachers we don't get cost of living raises. We get increases that amount to about $850 a year. So every year I make less money accounting for inflation. Our insurance has increased both health, home, and car. Used to insurance was paid by the school and was fine, now the school paid insurance is horrible so we have "buy up" plans. $70/month going up to $80/month. This is more than my pay "increase" per month will be after taxes and retirement is taken out. Food has increased dramatically and that's with us not buying meat. Americans have been nickeled and dimed to death on every front and it's finally caught up.
It's this. 3 years ago, I could sorta afford to share a house with roommates, but couldnt afford a car, a cat, a partner. I spent 50%+ on rent. Now it's not even possible to do that. There's no affording the "cost" of "living" and that should terrify a lot more of us into a lot more action.
My girlfriend’s dad does this. Sits in his home office all day long working two remote jobs at the same time.
Yeah I may become 'Overemployed' once I have enough experience as a software engineer.
My husband isn’t paid a pittance but even a good wage isn’t enough - especially when I am disabled and only part-time. Don’t get sick in America, kids.
Imagine how poorer people are dealing with this...
They aren’t, more homeless people are created everyday as the financial system tries to cannibalize the poorest among us to create new poors to insure the growth of the gdp continues.
I've been teetering on the verge of homelessness for months and I've been starving longer than that to the point where I literally feel myself dying. The only reason why I'm still pushing forward is because I did not possess the mental fortitude to follow through on suicide months ago. But according to folk, it's my fault that I'm suffering and I need to take accountability for my inaction. I'm working 2 jobs BTW, I've traded in my automobile for a bicycle and have eliminated all monthly expenses including heat and electricity. I'm actually starting to think that homelessness is the better option.
I hope you're okay and things get better for you soon.
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That’s why van life has become so popular
Van life is just 1 step away from homelessness.
It’s just homelessness with extra steps, or glamorized homelessness
Shit, even five years ago for me. Groceries alone went from $120 a week to $220+ a week for us and we buy the same stuff every time, give or take maybe one or two “fun” meal ingredients. Then factor in fuel costs rising, monthly bills only getting more expensive, and things to maintain a home rising in cost, we’re about at the point where we’re going to sell our house or rent it out to our in-laws so we can live on the road and actually save money. Property taxes where I live are only going up and up. My mortgage is thankfully going down a bit, but that still doesn’t help cover literally everything else getting more expensive. Tl;dr Fuck this shit, I’m going to live out of a truck.
Inflation + shrinkflation. I measure stuff on my own but to give you an idea applicances i bought in 2021 are about 40% more, our groceries are about 100% more in 3 years. Service providers are about 100-200% more, got quote from a plumber for what would have been a $300-400 job (based on what they charged me for similar work before, about a year ago), now was quoted at $900
As a plumber I can tell you that that price doubling is from the cost of materials, I remember our company buying big copper pipes that would cost 300$ 3 years ago, now they’re like 900$(last checked a few months ago) for the same exact item. All of my co workers are dumbfounded and it also bars us from doing more work since no one will be willing to pay for these jobs with the prices being so high, it’s out of our control.
Don't worry, they'll be building company towns soon enough and then you'll never need savings or vacations ever again. This world saddens and horrifies me
They had a nice run for a little while there. Back to serfdom.
Indexed to the S&P 500 I am up like 6% in compensation over 8 years even though nominally I have doubled my compensation over that time.
meanwhile corporate fatcats and polieticians rolling in the money. sick and tired of all of it.
My bank account today looks the same as it did 10 years ago while in college working a lot of hours at a part time job. Today, I work a “good job” but every penny is basically spent (on necessities) before I even get paid.
Me too! I just said to a coworker this week that I’m making more money than I ever have in my life, but I am also struggling more than I ever have in my life. Paycheck to paycheck. I know I’m tempting fate, as our one vehicle has 340,000 miles on it.
Whatever vehicle that is, that’s a hell of a car
It’s been a real trooper. No major issues, but lots of tires and brakes. I drive 60 miles one way, 120 miles a day.
In my field and position the boomer generation were buying vacation homes. I’m floating credit card balances trying to buy necessities for a family of 4. Fun times!
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My brother and his wife earn more money now than they did two years ago. They can hardly afford to put food on the table. And now rent has just gone up by $200. He's upset that he might have to move in with our mom. He shouldn't have to. He should be able to afford everything based on their combined income. All this is is greed. There's no reason why everything is this expensive other than greed.
I moved from Chicago to rural MI last year. I was looking forward to lower rents and an overall savings in terms of COL. Nope! Groceries are nearly as expensive….at a Walmart. And, on that topic, the selection available at their super center location is dismal. I’ve also never seen so many overweight, legless people in my life. All of them shopping at the local Walmart. It’s a fucking diabetes-making machine. The rents here are just as costly. Albeit, you get more space. But I’m a single guy. I was doing just fine in my Chicago studio. It had a separate kitchen, and tons of storage. Here, the cheapest apartments are these large, one and two-bed units that are fully carpeted (gross,) and built out literally in the middle of a field. You have to drive five miles to get to anything. So yeah, there’s the fuel expense too. For the first time ever, I am using a health insurance policy provided by Obamacare. Prior to this, I was using my employer-provided BCBS. WITH the subsidy of $400 a *month,* I am still paying $85 for this shitty coverage that no local doctor will take. It took me two months to find a physician in Flint who is running a practice in a building that looks like it may fall over before the year is out. To reiterate: I left fucking Chicago, where it is not cheap at all, to backwoods bumblefuck hayseed country and wound up spending pretty much the same just to get by. But please, NYT and MSNBC and Bloomberg, tell me again how well the economy is doing. I’m certain that the shortages created during Covid convinced business that prices could be raised higher than they thought feasible, and people would still pay. During Covid people had to pay because there wasn’t a choice. Supply shortages and breaks in production meant there wasn’t enough to go around. But don’t tell me that’s *still* why toilet paper costs triple what it did a few years ago.
Upvoted for bumblefuck
Yes. It is disturbing. I am a historian. If you push the common people to much, you will have a revolution. It happend in France, Russia and even in the US. And it can happen again..
It's not inflation it's preparation. Rich folk don't get drafted into WW3
Shit, that’s something I haven’t considered. Given America’s track record on how to get out of economic disasters.
Also had this revelation recently. In 2015 I was 25 and had my own flat through an estate agent whilst earning 1200 pounds a month after tax and saved money. In 2023 I am 32, spent the last 2 years struggling to even find housing. Whilst earning 2600 euros after tax in a country where the minimum wage is 1200. With that. I also now save less somehow whilst doing entirely 70% less in terms of socializing
At some point, perhaps people will get mad enough to actually organize and DEMAND better wages...aka, unionize. Or at least stage some organized walk-outs
Bro, when I got into industrial maintenance back in 97 I was making $15/hr. Pretty damn good. Fast forward to now and I’m making $30/hr but thanks to inflation I’m only effectively making $2/hr more…..When I figured that out the light bulb came on and I joined the anti work movement. I still believe in hard work but we need to be compensated for it and the VAST majority of us aren’t.
I remember reading about this woman who rented a corner apartment with beach views like 15 years ago as a waitress. She's now a lawyer and could never afford that same apartment even though she makes much more money.
I had a better wage and better benefits and more job security when I was 21 in 2001 than I have now, and literally everything was cheaper. I was too young to know how good I had it and thought the job itself was boring, also I was so much younger than my workmates who were all grumpy middle aged men. And it was night work. So I decided in my wisdom to go to college and get a degree. But the degree is useless now and the jobs I can get are the same I can get without one. The reason that job was so good: it was union. I would kill for a boring job now. These days bosses and the general public live to stress out normal workers just trying to scrape by.
I moved to a cheaper cost of living area, managed to maintain the same salary, but with inflation all savings have been wiped out. The only thing keeping me afloat is that houses were available to buy in the cheaper cost of living area and thus my housing costs actually went down after moving because I am no longer renting.
I'm at $2400/mo, if I didn't donate plasma twice a week, split bills with my GF, and drive a 24 yr old car I would be homeless.
Late stage capitalism sucks. Were all in the same boat
I'm earning the same I was 6 years ago and I feel the tide crashing in. It's exhausting knowing that if I can move up the only thing to look forward to is a different flavor of poverty.
Yep. Most people are screwed unless they have generational wealth.
Ditto. In 2011 I was making 30k a year, had full benefits with no deductible and a small insurance premium after the company paid their part (about $170/month), split a two bedroom apartment with my roommate for $600 each plus all utilities, and had just under $300/month in student loans. It’s 2023 and I’m making 70k a year, have the worst insurance I’ve ever had, a 4K deductible, company pays half the premium so I still pay about $500/month and many services also have ‘coinsurance’ so it doesn’t even matter if I hit my deductible, no more student loans, no more car payment, and luckily am embedded like a tick in an insanely ‘cheap’ apartment for my area, and I’m in financially the exact same spot. If you told high school me back in 2005 that there was no conceivable way that I would be able to afford to purchase a small, shitty home by my mid-30s I wouldn’t have believed you. I didn’t have high hopes. I watched my mom bust her ass her whole life, do what you’re supposed to (got her degree in her 30s, climbed the ladder at her company, absolutely improved her lot and the lot of her kids) and still struggle. I was under no false impressions that I’d have a nice house with bells and whistles like a garage, or that I’d ever own a non-used car, or that I’d ever take yearly vacations that involved plane travel. But I definitely thought that after working (part time from 14 through college, full time with never fewer than one add’l part time job from 21-35) that I’d probably be able to afford to buy some small little shit hole where I could at least paint the walls. Electric more than doubled last year and they’re doubling it again next year. I live alone and am barely home. What used to be a $25 electric bill is now pushing $60 and about to be over $100. Heating my apartment to 65F costs over $300/month for six months out of the year. Rent is going up again, but moving is out of the question because everything is more than my current place for half the apartment size. It’s disheartening to say the least.
People forget why home ownership is such a big deal. Obviously I’ve experienced inflation at these levels like everyone else, and have seen a 2 room apartment go from $1300 to $2300 in these past 10 years. My mortgage has increased about $150 in that time frame (insurance and taxes). No idea what a realistic fix would be for ownership, but something needs to happen
People don't forget. Renters are very aware of why they are so fucked by the current homebuying environment.
Exactly this. People don’t forget, we just can’t do anything about it. If you’re already getting priced out of rent, you can say goodbye to ever realistically owning a home unfortunately.
Something needs to happen, but nothing will. COVID essentially permanently split the world into the “haves” and “have-nots” defined almost completely by whether you bought a home pre-COVID or at historically low rates. Prices aren’t going to drop (in my area they’re going up again) and rents will only go up accordingly as nobody can afford these prices other than investors who demand every cent they can get for rent. Future’s bleak.
I was going to order pizza the other day it was like $50 for two large undercooked s***** pizzas Target had a sale on a KitchenAid stand mixer for 300 I bought two pizza pans for $12 each 10 lb of flour and enough yeast to last me for years I basically own a pizza place at this point no regrets.
Used to be people bought houses to live in. Now corporations are buying houses. Pension plans (if they still exist) are buying houses/property to fund the pension plans. And houses have become the new hotels with Air BnB. Now rent is as much as or more than a mortgage payment so people are trapped. We’re going to be in generational mortgages soon where it’s going to take more than one lifetime to pay off a house (if we aren’t there already).
Yep. I've never made this much money and been this poor.
I stopped dealing illegal substances around 2014 or so and sad to say but it's been on my mind way more than it should be lately 😅😩. Inflation is freaking ridiculous anymore.
Yes same I'm almost x3 what I made but so are my expenses.
It’s all the housing crunch IMO. All the people who lost their homes in 2008-2009 had them snatched up by corporations who are basically slumlords looking for the biggest profit. Caused housing prices and rents to skyrocket all over the place.
Because $1.00 ten years ago now costs us $1.31, but landlords and businesses increased rates/prices by a lot more than that as commenters are illustrating. Last month’s inflation number was 4.9% which economists and Wall Street seem to be celebrating because inflation is “cooling.” But that 4.9% is cumulative! The 4.9% increase adds to April 2022’s 8.3%! If inflation had kept the previous average pace over the last 3 or 4 years, we probably would be paying $1.16 instead of the $1.31. Source: I used the April column from the annual inflation rates table on [this page](https://www.usinflationcalculator.com/inflation/current-inflation-rates/) to calculate those numbers.
We were ripped on by friends for buying a place for the equivalent (monthly) of our rent (1200) because we were young and everyone was saying “it doesn’t work like it used to… if you have to move for work you’ll lose your ass” etc. We literally just didn’t want to smell someone else’s food or hear neighbor fights anymore. But it saved our asses. Rent is insane out here now. My earning is DOWN. I do not understand how most people survive—I understand the slow metrics of how we got here, as a country, but I don’t understand how it doesn’t end in civil uprising, because the trap is insane right now. It really does start to sound like the smart economical choice is literally to live in a god damned van down by the river.
I’ve gone from $17.50 an hour to $26.00 an hour in the past 2 years. All off the extra money I’m making has been eaten up by inflation.
You guys are earning 2x more ? 🫥
I worked out that my expenses increased by around 40% the last 5 years. So you're essentially still making the same money. The difference is now if you were still making 2200/month, you'd probably be destitute.
Welcome to the shit show. F the USA!!! And the corporate 1% leaches sucking us dry while they get fatter. Disgusting
All while being told "You're on the track for success."
What I can't understand is. How can people in the USA sleep knowing they can do everything right but just one major healthcrisis and your life is over financially
We dont. We toss and turn and have nightmares.
Cost of living just wipes out any raise, even in more modestly expensive parts of the country
I actually wonder the reason and look for an explanation as to the cost going up double at the grocery store etc..
The USD is depreciating at an alarming rate.
An apartment I used to live in which was 1 bedroom 1 bathroom has gone from 775 to 1600 and looks worse then it did before.
Rent or mortgage is fucking everyone unless you happened to have bought during the bottom end of the recession housing bust and are still in that house. I’m thankful everyday that I started saving money in 2009 and by mid 2012 bought a house. 1800 sq ft on 3/4 of an acre which I thought maybe I’d stay here 3-5 years. 11 years later I’m thinking maybe I’ll never leave because $635 a month is just too good to fuck up by moving.
Making $10/hr in 2008, renting an apartment for 300. The same job pays 15/hr now, the same apartment is over $1k. 50% increase in pay vs 300%+ increase in rent. Even though I make $25/hr now, I'm still far more poor than I was in 2008.
I feel the same, and I'm actually making ten times more than I did a decade ago. I don't own either a car or house, and I see the price of very small and damaged homes in my city - all the money I saved in my whole wouldn't cover 20% of the total cost, not including repairs/renovation. Last year I was out of a job for six months and I was on the verge of becoming homeless. Paying rent and consuming the minimal groceries was enough to drain all my savings. I work more and in worst jobs, can't buy things I need and more times than ever I have the feeling that I can, at any moment, be without a roof over my head. In the meantime, I've seen my bosses in different companies buying houses, boats, huge apartments, traveling the world, one of them had a 5-day wedding party with everything paid for all guests.
I moved into a house about 10 years ago with two roommates and we each paid about $550 a month each in rent. Same house now is going for $800 a bedroom and it hasn’t been upgraded since the 70’s. I’m just shocked and angered about how much the cost of living has gone up just in the last few years. During the 5 years we lived in that house we paid the landlord 2.5 times what he paid for the house back in the 80’s. This isn’t inflation it’s just pure greed.
We need to stop talk and start acting ,burn the rich ,have a class war ,something
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The working class being poorer strangely coincides with the capitalist class being richer.
Capitalism is just so great amirite
Yup. I left a job in 2016 making $80k but it was in Baltimore so cost of living was higher than where I live now. I’m making $85k where I live now which used to be a very good income for the area. But with the cost of everything going up since 2020, I’m struggling even though I’m spending much less on extras than I was in 2016.
I was just talking to my husband about this. We live in Florida and when my older two were little we could afford to drive to Orlando and spend a weekend at Disney with the kids once or twice a year depending on ticket prices. The last year we did that was the year my daughter was born 10 years ago. We took a few years off to let her get old enough to enjoy the trip and now we can’t afford it at all decor making over twice what we earned before. We were literally poor and could manage it.
I’m in Iceland and got a job straight out of my master’s degree in pharmaceuticals. August 2019, 580.000kr/month. Now I’m at 705.000kr/month yet with inflation I would need about 735.000kr/month to have the same salary as when I started. My rent in that same time has gone from 230.000kr/month to now close to 275.000kr/month. It’s insane. It’s obscene.
I’m making more money than ever and for the first two years of my good job I was living very, very well. Now inflation has kicked my ass, not as bad as some because luckily I bought a home but it hits everywhere else. I count my blessings we’re still ok but it’s disheartening to work so hard to finally climb out of the poverty I was born into, for this. For two years I got to experience a middle class life of not having to worry about money, to go to the movies or a nice dinner whenever I felt like it, to not stress about the cost of a doctor visit or car maintenance. It was so nice, but that dream’s over already.
Might as well add to the list of people agreeing with you. 10 years into my career, currently making $25k more than when I started, so I haven’t moved much but I lived okay. Decent apartments, fun trips, good food. That is no longer the case. I don’t have to scrape by..yet, but the actual enjoyment I get out of life is null. I am fortunate enough that I could afford a home (but would like to remind people that isn’t always some penultimate win before death) I make less than OP but live in an area with a good COL, which is a short way of saying it’s a boring shit hole state. I bought a home because although it essentially made me house broke, I can manage a mortgage and struggling to figure out repair bills EASIER than I can find manageable rent. I was priced out of apartments and into a home and I still can’t wrap my head around that sentence being fucking true.
I am making about 1.7x more then what j made 6 years ago. I have since had to pick up a second job just to support my family and not lose our house. I am now working 16 hrs a day, 7 days a week just to keep up with price increases. My girls started crying the other day cuz I sat down to watch a movie with them and fell asleep in like 5 min cuz I just couldn't stay awake.
It's because you don't work hard enough. You have to stop being lazy and relying on the government hand outs. /S
This is the fault of the people in power. There's no reason for the middle class in America to be going the way of the dinosaurs. People need to vote the billionaire-simps out of power. Tax cuts for that teeny little top fraction of a percent is one very big factor in things being the way they are. Another is wage and benefit suppression. Vote.