Can America's Middle Class Be Saved from a New Depression? - The New York Times - 0 views
-
In 2016 the Pew Research Center released a study that examined 229 metropolitan areas across the country: In 203, the share of adults living in middle-income households declined from 2000 to 2014, while the share of adults living in lower- and upper-income homes each rose in more than 150 areas.
-
At the same time, the cost of minivans, homes, health care and college tuition has increased. Families reacted to this new reality by plunging themselves into debt and neglecting to save,
-
in America, you become middle-class by consuming: If you cannot afford a home in a respectable school district, a pet, summer vacations and so on, you have not ‘‘made it.’’ Despite their outward trappings of prosperity — and often because of them — many middle-class families have negligible savings and too much debt.
- ...21 more annotations...