WSJ – Andrew Schiff says his $350,000 salary just isn’t enough. Education and housing in New York are now priced for the wealthy, not the garden variety wealthy.
What were reasonable goals defining having made it for middle class parents ?
* Being able to send children to the best schools
The problem is that in the decades since our parents generation the public school system has eroded so the best schools are private.
* A 2000+ Square foot home
It would cost at least $1.5 million to buy even a modest apartment nearby. 2000 square foot homes costs $2 to 3 million in New York.
In previous generations, the American dream was possible on one income.
Their can be an overtime comparison of purchasing power parity to achieve the American Dream.