Yes, but how is that 15 year old going to do the same? What about the ones who don't end up winning the career lottery?
We need this to be possible for two people making 40k a year, not 140.
We need this to be possible for two people making 40k a year, not 140.
From that same citation, look at the median starting salary in engineering disciplines - over $100K.
The median household income of homebuyers is around $110K. (https://www.nar.realtor/newsroom/nar-finds-typical-home-buye...).
Most homebuyers are not single (https://www.nar.realtor/newsroom/in-the-news/single-women-ar...)
$110K is not a “high income” for two college educated people. It’s actually the combined new grad income.
And because of assertive mating, most college graduates marry other college graduates.
This is the home ownership rate by age
https://www.census.gov/library/stories/2023/07/younger-house...
- the typical college grad makes $65K
- the typical homebuyer is not single.
- the typical household has two earners.
These people didn't move up, as per your assessment. Most people need to combine salaries with someone else to even have a fair chance in this system, to get any upwards mobility.
If you are single with no responsibilities but yourself in many major cities, you can make it off of $65K. Homeownership is not the only metric of success
People making less than that aren’t homeless and starving.
This is certainly not true in any of the cities near me.
What do you consider “making it” for a single person?