Sandy Point Going Condo!

[FlyingScot]

Originally Posted by dickiej

How did things get so skewed? I grew up in the 50’s…my father worked, my mother stayed home….on one salary, we had a three bedroom cape, food, clothes, birthday presents, Christmas presents, and a week in a camp on a lake in Maine.

Increasingly over the past 20-30 years our economy has been set up to reward those already wealthy. This has the side effect of hurting those still striving. Just to pick a couple of examples--Taxes on income from the stock market are lower than taxes on salaries. Insanely low interest rates drive the stock market ever higher. Both of these things drive up real estate values. Increasing real estate values hammer those renting and in their early home owning years.

So Mom's working because the family needs a house that's WAY more expensive relative to income than what Grandma and Grandpa had to pay