The sense of entitlement is a lot higher these days. I grew up in a 900 sqft house with 1 bathroom. Yet all my peers (myself included) seek out homes 2x, 3x or bigger.
Same with cars.... my parents bought used, reliable cars. Today we want fancy things.
Growing up we had cable tv and a phone line. Probably spent $50/month total. The family cellphone bill, home broadband, various tv services easily top out over $300/month.
We went out to eat once a month. Tops. It was a treat. Nowadays people (myself included go out 1, 2 or more times per week.
Earnings aside, current generations are spending way more because they want more.
Same with cars.... my parents bought used, reliable cars. Today we want fancy things.
Growing up we had cable tv and a phone line. Probably spent $50/month total. The family cellphone bill, home broadband, various tv services easily top out over $300/month.
We went out to eat once a month. Tops. It was a treat. Nowadays people (myself included go out 1, 2 or more times per week.
Earnings aside, current generations are spending way more because they want more.