What the “middle class” can afford has changed quite a bit in the last few decades. Owning a home is arguably “upper class” at this point. The median US income was only $80k in 2023. Pentions are also getting increasingly rare. What used to be considered middle class is now struggling to get by.
Middle class is defined by the income of the middle third of the population, not by a particular lifestyle.
What the “middle class” can afford has changed quite a bit in the last few decades. Owning a home is arguably “upper class” at this point. The median US income was only $80k in 2023. Pentions are also getting increasingly rare. What used to be considered middle class is now struggling to get by. Middle class is defined by the income of the middle third of the population, not by a particular lifestyle.