'The Middle Class Is Dead': Social Media Users Claim $174K Per Year Is Not Doing Well — It's Just The Bare Minimum Needed To Survive [Yahoo! Finance]
Apple Inc. (AAPL)
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Source: Yahoo! Finance
In the video, Garfield compares salaries, saying, “Making $30,000 a year in 1983 is equivalent to making $164,000 a year in 2023-2024. The middle class isn't dying. The middle class is dead.” Don't Miss: Average retirement income in America has been revealed – Will you make enough each month For many first-time buyers, a house is about 3 to 5 times your household annual income – Are you making enough? He draws a comparison to the 1950s when the average household income was around $3,000 and a typical house cost about $5,000. Back then, buying a house was about 2½ times your annual salary, making it possible to own a home and a car on an average salary. Fast forward to today, and the numbers tell a different story. With household incomes averaging $74,000 and house prices soaring to around $450,000, the financial stretch for homeownership is far greater. So, what does being middle class mean in America today? According to Garfield, “The bare minimum of middle class in Americ
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