I agree with the comments that we’ll have lifestyles more like Europe…
The last 2 decades were all about excess – everyone was entitled to a 3000+ sf house and two high end cars… (more if you had teenagers.) You were poor if you didn’t go out to eat every week.
The reality is we’re going back to a time where we’re forced to live within our means. Which means home purchases, car purchases, discretionary spending will be at a more pragmatic level. Frugality is the new black.
If you can live with that – then you will be fine going forward. If you feel entitled to pizza ovens (vs easy bake ovens) and a lifestyle much larger than income would support… then the coming years will be your own personal hell.
I’ve done a lot of travel in Europe – except for the filthy rich – people live smaller… smaller houses and apartments, smaller cars, less stuff… We could learn a lesson.
