A middle-class life has become 30% more expensive in the past 20 years, according to analysis of prices from the Bureau of Labor and Statistics.
Trying to afford the staples of a middle-class life amidst stagnant median incomes may explain feelings among consumers that today’s economy is challenging. California Associate of Realtor’s Center for California Real Estate regularly presents information from the leading think tank, the Futures Company, to provide information relevant to consumer trends.
73% of those who are currently NOT planning to become homeowners say they don’t have disposable income.
35% of those earning $35-75,000 say they’re financial comfortable.
56% of those earning $74-149,000 say they cannot possibly save as much money each year as the retirement planning tools say is necessary to have a comfortable retirement.
61% of those earning $150,000+ feel overwhelmed by the number of ways they can invest their money.
63% of those who agree that they do not have as much discipline as they would like when it comes to spending money are worried about paying their mortgage.
37% are very worried about having enough money to retire.
42% of those who identify as “middle class” are very to fairly worried about feeling financially secure.
PERCENTAGE OF THOSE EXPERIENCING FINANCIAL DIFFICULTIES:
Hispanics: 25%
Non-Hispanic Whites: 11%
Asian Americans: 11%
Source: CAR, The Center for California Real Estate