Freddie Smith's viral claim sparks discussion amid rising living costs and inflated housing prices.
Orlando real estate agent and content creator Freddie Smith stirred an online debate in a viral video saying that earning $50 an hour has become the 'new middle class.' His comments come as the U.S. economy sees increased pressures on housing and everyday necessities.Economists define middle income as earning between two-thirds and double the median household income. Smith's viral dialogue suggests the benchmarks for achieving the middle-class lifestyle are shifting.
As a result, to comfortably purchase a median-priced home at $425,000 in 2023, homebuyers need an annual income of $119,500—more than twice the median U.S. salary—amid monthly mortgage costs of $2,405.That means only a minority of Americans can afford a home as 18 percent of individuals and 34.4 percent of households make over $100,000 annually.The Orlando real estate agent has a problem with wage disparity too.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gifts Under $50 for Everyone on Your List: Shop lululemon, Drunk Elephant and MoreThese thoughtful gifts for less than $50 won't bust your holiday shopping budget.
Read more »
31 Gifts for Men Under $50 He’s Basically Guaranteed to LoveAlesandra is a digital travel and lifestyle journalist based in Los Angeles whose work has appeared in Good Housekeeping, Woman’s Day, Prevention, Insider, Glamour, Shondaland, AFAR, Parents, TODAY and countless other online and print outlets.
Read more »
The best gifts under $50 that make great stocking stuffersHere's our list of the best gifts under $50 that make great stocking stuffers, inexpensive gifts for coworkers, and more.
Read more »
Best Keurig deals: Get perfect coffee at home for just $50Nothing beats the convenience and economy of having a Keurig coffee maker on your countertop. Get one on the cheap with these Keurig deals.
Read more »
Sony WH-1000XM4 drop to $248, and other Sony headphones deals start at $50Sony headphones deals start at $50, offering the lowest prices of 2023 on noise cancelling headphones. That includes Sony's WH-1000XM4.
Read more »