This article reflects views that I’ve held for years. Decades ago a second income allowed a family to afford some small luxuries. Somewhere around the 80’s that changed though, and double incomes have practically become a necessity.
I recall another thread that speculated about high tech salaries being one of the causes for skyrocketing housing prices. I think there is something to that, but primarily due those families that consist of two high tech workers. I’m a high tech worker, but I don’t earn enough to afford a $600k-$700k home. In fact even with a salary near 100k a year, according to standard lending practices and current interest rates, I cannot truly afford even a $400k home.
Perhaps if my spouse also earned 100k, we could afford one of these homes. But that would not last long if one of us were out of work for any significant period of time.
I wonder if the information in this book will lead to any real change. Probably not.
