Some interesting points. I tend to agree with some of it, namly that a BS is not what it use to be. The push to get everyone into college has led to a college education not being worth as much. I have only 1 friend without a BS, and he has an AA and 9 years navy, AND is working on his BS. If everyone applying for a job has a college education, does it really give you an advantage anymore? I would agree that an MS is the old BS.
As for not being able to make it as a late 20’s professional; I disagree. I have numerous friends who are doing very well, and some who even own their own homes. None are in California. I mean that litterally, NONE of the obviously successful ones are in CA, but they are doing very well in Las Vegas, Texas, Baltimore, New Jersey,the Twin Cities, Chicago, and a few other cities. The ones who have stayed in CA are either obviously trying to save money and skimping on everything dreaming of massive depreciation, or spending like pimps but have nothing of any real value.
Plus I kinda think the definition of middle class has changed alot since your inlaws were young. European vacations were something to enjoy as a reward at the beginning of retirment, not a high school graduation gift. Vacations were camping, or going to visit Uncle Joe at his house, or a day at the beach and a BBQ. Purses never were worth more than the money found inside them, and a Cadalliac was something you rewarded yourself with at age 50, not a BMW at age 30. People had a TV per house, not a room per TV.
I guess my point is that the trappings of the middle class have changed. I once had a co-worker 6 months out of college tell me difinitivly that anything less than 100K PER Person (ie 200K per couple) was the MINIMUM you needed to make to be OK. Her dad was a plumber, her mom a teacher before she had kids. She was not born into wealth, but she sure had the idea that anything less than name brand and 4 star was sluming it.
