How the affordability crisis broke the American Dream — the change in the last several generations is real

From the source

People across Europe are taking to the streets to express their frustrations over high food prices, unaffordable housing, stagnant wages, and declining public services. Americans are frustrated too, and those same affordability concerns are the top issue in this year’s midterm election. While we’re not in the streets (yet), frustration over affordability here is so severe that it threatens the viability of the American Dream—and potentially America itself. If the American Dream was a promise made by the nation to its workers—the promise that if you worked hard, then you could achieve economic security—then that promise is broken. America is much less affordable than it was a few generations ago. This is true for everything from dinner at McDonald’s for a family of five—which cost the equivalent of three hours of minimum wage work in 1955, and today costs nearly an entire eight-hour work day—to buying a home—which is less than half as affordable for the average family today compared…

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