> If you think that's "just cover rent and expenses" money, how do you think the people you buy coffee, food, or anything else from live??
Since 2000, mostly through consumer debt. Wages have been stagnant in the face of increased cost of living; you can get financing for literally anything these days. Walmart dropped their layaway program in favor of pushing credit cards. Aaron's will rent you furniture for low monthly payments that add up to 5x the retail price. You can even take out a loan specifically to go on vacation.
$85k was worth a lot more in 2004 than it is now. It's still a king's ransom in rural/middle America but it doesn't get you far on either coast anymore if urban proximity is a requirement.
Since 2000, mostly through consumer debt. Wages have been stagnant in the face of increased cost of living; you can get financing for literally anything these days. Walmart dropped their layaway program in favor of pushing credit cards. Aaron's will rent you furniture for low monthly payments that add up to 5x the retail price. You can even take out a loan specifically to go on vacation.
$85k was worth a lot more in 2004 than it is now. It's still a king's ransom in rural/middle America but it doesn't get you far on either coast anymore if urban proximity is a requirement.