Tag: society

“Yes, homes cost more now, but census data show more Americans own their homes now than when I was a kid.
And today’s homes are much bigger and twice as likely to have central air, dishwashers, garbage disposals, etc.

We want more now.

Also, young people can afford more now.

Today, Americans actually spend a smaller percentage of our money on food, clothing, and housing than we used to, according to Bureau of Labor Statistics survey data.

“We have a lot more things and we don’t have to work as hard to get them,” says Michel. “Now it’s the norm to go out for dinner.”

When I was young, few people did that.

Few people flew places for vacation. They didn’t have the money, and flying cost much more. Adjusted for inflation, a cross-country flight cost $1,000. Now it’s about $300.

“People did not just go on vacation,” says Michel, “did not fly all across the country.”

…

Gen Z, overall, is doing better than young people once did. A typical 25-year-old Gen Zer has annual household income that’s 50 percent above Baby Boomers’.”

https://reason.com/2025/10/01/young-people-are-richer-than-boomers-were/