Dear MEL Topic Readers,
Why some Americans who make a lot of money feel so poor
Even though the wages of average Americans have increased further than
inflation, they are facing difficulty in finding affordable housing units or
childcare services, and in some cases, the availability. The low supply of
homes and high mortgage rates, hovering above 6%, have made housing prices well
beyond an affordable level in many places. Also, child care expenses, including
daycare and preschool costs, have risen almost twice the pace of overall
inflation or pay raises. In most places, child care for two children now costs
more than a mortgage or rent. This makes some parents give up one of their jobs,
often mothers, to stay home and care for their children themselves. Owning a
house and raising children seems to have become a dream for many Americans.
Read the article and learn about the financial burdens of American
families.
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