Ted, > Did you ever try to feed, clothe and house a family of four on that amount?
I know a family of seven that did just that with less:
a.abcnews.com
I also know a family of eight that is able to live very comfortably here in the OC on a single income (though that single income is comparable to mine).
They are a good example of a family who have devoted their whole life to frugality. It makes a good read. Do you think that's all every American family wants to do or should? I am frugal but I would go nuts taking it to their level.
I repeat the average American family of four has a tough time living on $55k especially if they are in an urban area which doesn't appear to be this family's situation btw.
"Middle class people today live like rich people lived in the 1950s," said Arthur Brooks, president of the American Enterprise Institute.
I doubt the veracity of that statement but again it makes for a good read. For an example, back then, the rich were living in mansions just like they are today. I don't know of any middle class person living in a mansion, do you:
"The "modern" mansion
Mansions built during the last and present centuries usually have specially designed rooms meant to accommodate leisure activities of a particular kind. Many will have a conservatory or greenhouse, while others will have an infinity pool or a home theatre. Some have all of these features. The relative importance of these specially designed rooms changes with the times: At the beginning of the 20th century no true mansion would have been built without a room to house a private library or office, while at the beginning of the 21st century the presence of a room designed for a home theatre or cinema is a must. Most recently, mansions have been built with integrated domotics.
A McMansion (a term that originated in North America in the 1980s) is often a speculatively-built, suburban house that incorporates numerous design features on a floor plan of 3,000 to 5,000 square feet (460 m2). They are typically built from standard plans with some cosmetic detailing and design changes available to the buyer[citation needed]. In contrast, a "real" mansion is normally designed by an architect to the exact needs of the clients, is significantly larger (typically, a minimum of 6,000 square feet or more than 500 square meters), and contains many more features and creature comforts; however, the house does not need to be this size to be considered a mansion[citation needed]. It may just simply contain many of the features that come with a mansion.
The costly time spent by an experienced architect is a better indicator of the lasting status of a mansion than the number of its rooms, its total size, or its special amenities[citation needed]. The homes and mansions designed by the late Richard Neutra and Quinlan Terry are good examples of modern designs which have been nearly perfectly tailored to fit a particular customer[citation needed].
A modern mansion today may not necessarily be limited to a single house standing alone. Compounds, or a grouping of larger houses have become more popular. The Kennedy Compound is an example of one family building surrounded by large houses on a single plot."
en.wikipedia.org
The Middle Class Is Doing Just Fine, Thank You
If the middle class is doing fine, why are they having so much trouble sleeping these days:
"According to IMS Health, prescriptions for major sleeping-pill brands rose 7% last year, while antidepressant-brand prescriptions jumped 15%.
The economy, it appears, is keeping us up at night, according to a new "Sleep In America" poll out this week from the Washington-based National Sleep Foundation. Some 31% of respondents said they are losing sleep over the dismal economy and their own financial situation."
adage.com |
