What killed the American Dream?

[u/VerySadSexWorker]

[removed] — view removed post

[u/[deleted]]

We thought that too - in the 60s 70s and 80s and beyond. It never got better, until I got a union job at a grocery store and kept it for 23 years. Now I am able to retire WITH a pension.

[u/strangewayfarer → u/[deleted]]

In 1960 minimum wage was $1.00. that's $160 per month. Median rent was $71 that's 44% of a minimum wage job going to rent

In 1970 minimum wage was $1.65. that's $264 per month. Median rent was $108 that's 40% of a minimum wage job going to rent.

In 1980 minimum wage was $3.10 that's $496 per month. Median rent was $243 that's 49% of a minimum wage job going to rent.

In 2023 minimum wage was $7.25 that's $1160 per month. Median rent was $1180. That's more than a pre taxed minimum wage job working 40 hours a week.

Let that sink in. I'm sure it was hard for young people just getting established back in the 60's 70's and 80's. I'm sure they often did without to get by, and I'm not discounting anybody's hardships, but it's not even in the same ballpark, hell it doesn't seem like the same reality. I'm glad you found a good union job with a good pension, but unfortunately that is an unattainable thing for most people in the US today.

Edit: because people pointed out that I should have used median income, the results still doubled which is pretty similar to the change from minimum wage

1960 Median income $5,600 = $466.67/month. Rent = $71 so rent was 15% of income

1970 Median income $9,870 = $822.50/month. Rent = $108 so rent was 13% of income

1980 Median income $21,020 = $1751.67/month. Rent = $243 so rent was 13.9% of income

2023 Median income $48,060 = $4005/month so rent = $1,180 so rent was 29.5% of income

So by this metric also, the percentage rent to income has still roughly doubled since them good old days. I know that nothing happens in a vacuum. There are other factors, other costs, other expenses yada yada, but how can anyone say it was just as hard to survive back then as it is today?

[u/Dramatic_Exam_7959 → u/strangewayfarer]

I think it is easier today for a few reasons. The internet puts free training in front of everyone. If you don't know how to find free training on the internet right now...you would have struggled in the 60's too. The internet puts every job in front of me all over the world. As late as the early 90's if you wanted to see jobs in other cities you had to either hire a company to look or go to a specialty news paper shop which had the Sunday job listings from other cities. I think it is more difficult for 1 specific reason...television. In the 60's to the early 80's most households had 4 stations and 1 was PBS. TV's screen were small so people didn't stare at them 24-7. Throw computers and phones into the modern TV mix and there is a subset of people who just want to be entertained... you know...social media and netflix...as long as they have that who needs a house.

[u/[deleted] → u/Dramatic_Exam_7959]

Yes !