"Today's two-income family earns 75% more money than its single-income counterpart of a generation ago, but has 25% less discretionary income to cover living costs. This is "the rare financial book that sidesteps accusations of individual wastefulness to focus on institutional changes," raved the Boston Globe. Warren and Tyagi reveal how the ferocious bidding war for housing and education has silently engulfed America's suburbs, driving up the cost of keeping families in the middle class. The authors show why the usual remedies-child-support enforcement, subsidized daycare, and higher salaries for women-won't solve the problem. " - Amazon.com
I might see if the library has it......... although I have noticed that my generation wants/expects to have house twice the size of the ones they grew up in, and new cars every 5 years. I do think we make less than our parents did, but I also think we spend a lot more than we should. But that helps the economy, so stopping might not be a good thing. Economics gives me a headache!
The current generation, probably from witnessing the struggles of the previous one, is shying away from ownership of cars/homes/property and going with leasing instead...Will be interesting to see how the financial players adjust if this trend continues long-term...
