What costs double? I track my expenses very closely and have for about a decade and my essentials are up 10% at most, 7% on average. That’s food, transportation, home expenses and cloth. My recreation expenses were actually down or flat.
I’m in a similar situation up here in Canada. Back then I could afford a house at a reasonable distance from town, even at current interest rates and with my significantly lower salary. Now I can maybe look at a small bungalow 1h out or more… if I assume I can keep working remotely indefinitely. Groceries just skyrocketed. Had to move in between, with high interest and low vacancy rates, we had to eat a big rent hike despite us moving way out of town.
The poorest 40% of households suffered an 8% drop in cash savings and the middle 40% (the U.S. middle class) also saw their bank deposits and other liquid assets topple. Only the wealthiest 20% of households are still enjoying the extra cash they stockpiled during the pandemic, with their savings about 8% above where they were in March 2020.
I’m not disbelieving your personal experience, but the article does indeed say it’s the top quintile who benefited.
LOL, which income quintile do you think?
Well, I currently make more than the average household in my state, solo. So does my gf.
And we can’t afford shit.
So, you tell me? I’m in the top 5% of income in my state. I am doing way worse than I was in 2019. E erything cost double and I dont make double.
What costs double? I track my expenses very closely and have for about a decade and my essentials are up 10% at most, 7% on average. That’s food, transportation, home expenses and cloth. My recreation expenses were actually down or flat.
I’m in a similar situation up here in Canada. Back then I could afford a house at a reasonable distance from town, even at current interest rates and with my significantly lower salary. Now I can maybe look at a small bungalow 1h out or more… if I assume I can keep working remotely indefinitely. Groceries just skyrocketed. Had to move in between, with high interest and low vacancy rates, we had to eat a big rent hike despite us moving way out of town.
From the article, emphasis added:
I’m not disbelieving your personal experience, but the article does indeed say it’s the top quintile who benefited.
The poorest 40% of households have cash savings?
What the fuck are my wife and I doing wrong?