There's no denying that inflation is causing everything to become more expensive and less accessible than it once was. As inflation rates continue to climb, even people with seemingly substantial incomes in America are struggling to live comfortably.
This issue was highlighted by a recent story of a married couple who were "struggling" and "sacrificing" for seven years in the hopes of achieving a better standard of living in the country, only to be confronted with the harsh reality of what their efforts.
The now-viral video posted by TikTok user Average Joe (@averagejoegam3) is a prime example of why younger generations are choosing to quit and have a lack of motivation to pursue careers.
According to Joe, he and his wife have been together for seven years and worked their way up the old-fashioned way.
After struggling and making sacrifices for years, they were able to reach a point where they no longer live paycheck to paycheck, as the wife finished school, and he advanced in his career
Through hard work and smart financial planning, the couple with two kids eventually managed to earn a combined household income of $120,000 per year. Over two years, they carefully budgeted and saved, allowing them to save $40,000 for a down payment on a house.
Despite working hard for seven years and building themselves up in America, Joe and his wife were let down by the kind of house they could buy with a $120,000 combined income, a $40,000 down payment, and good credit.
Also read: 30 Horrible Things Men Wear That Women HATE
Joe shows a photo of a modest-looking house, explaining that it was the only available option in their preferred area within their budget range.
In addition, Joe criticizes the common advice that older generations often give to young people, which is to attend college, get a degree or a trade, and become "more valuable" to the community.
“Was it always like that?” he asks, “Did you have to be a doctor, a lawyer, and an architect or engineer to get a livable house with a very substantial income?”
To further emphasize his point, Joe shares that when his mother was 23 years old, she worked at Michaels for just over minimum wage and his father was a pressman at a printing company also earning over minimum wage, yet they were both able to buy a house that is now worth $600,000.
@averagejoegam3 This has to change. #quietquitting #inflation #truth #millennial #genz #boomer #genx #debate #housingmarket #greenscreen ♬ original sound - Average Joe
Joe's story prompted a lot of reactions from viewers who shared similar struggles about the current situation in the country.
“Anyone working full time should be able to afford a modest home, car, clothes & food,” one person suggested, “It’s gone too far.”
“In all countries is the same reality,” a second added, “They are destroying working class people. Rich people greed has no limits.”
“People say move but don’t realize you can’t take that work income with you,” a third pointed out.
“A boomer once told me a story about how he could afford a house, cars, and all of his college with ONE SUMMER of construction work,” a fourth shared, “I was so livid.”
The decent homes millenials can afford are bought up and rented out to us instead,” a fifth wrote, “no worse feeling than getting outbid only to see it for rent later.”
“The so-called ‘American dream’ is a lie,” a sixth stated, “We are in the same situation.”
READ NEXT:
- 25 Popular Things Women Wear That Men Secretly Hate
- 33 Dirty Company Secrets Revealed By Employees That We Are Not Supposed To Know
Sylvia Silverstone is a passionate writer who loves to share her knowledge and expertise on a wide range of topics, including beauty, life hacks, entertainment, health, news, and money. With a keen eye for detail and a talent for storytelling, Sylvia's engaging writing style keeps readers coming back for more.
I'm totally relating to this... We have two kids, a combined household income around $160K, one $200 car payment, and live paycheck to paycheck. We were able to, but reluctantly so, 2 years ago, get a sub 2000 sq ft ranch with no garage. It was a horrible and stressful experience. Our credit was at worst, slightly below avg, & the inventory of homes in our area was far outpaced by demand. We had to move to the next county over. Houses just across the county line were 15-20K less but still in short supply meaning prices were inflated. Houses for sale in the county we were living in for the mortgage we were approved for, were either in poor neighborhoods/towns or significant fixer uppers, leaving us w/no funds left to fix up. I have a friend who bought prior to covid a home for basically one million dollars, but his mortgage is less than mine as he has a better paying job which made it easier for him to acquire a better credit score, and save up for a more significant down payment. If we have one unexpected bill, i.e. car repair, medical emergency, kid's braces, it takes 4-6 months just to get back to being caught up on our bills, in effect getting "back up" to living paycheck to paycheck. But then family events come up, birthdays, holidays, summer child care, and it starts all over again trying to tread water, keeping our heads above for air.