(ConservativeHub.com) – Freddie Smith, a TikTok creator and realtor in Orlando, recently discussed what a typical individual needed to have as their salary to qualify for a home in 2024, as well as what other economic obstacles Americans would be facing when starting their lives.
Smith claims that Americans need to be making around $120K per year in order to afford the “middle-class” lifestyle and qualify for a home.
Smith told Fox News Digital that the majority of Americans would consider the middle-class as consisting of people who have a 40-hour-a-week career and who would have the necessary income to buy a decent home in the United States.
Smith has become known for his videos, in which he often discusses the struggles that millennials and Gen Z are facing to afford a home and cover all of their daily needs with the current increase in the general cost of living in the current economic climate. He also dissected a number of the common factors that people who are middle-class experience.
He stated many people in the United States were raised as middle class, and they saw what the middle class life was like in the 80s and 90s.
He added that despite this, the goalpost has now moved and that the biggest difference is in the housing market. He said a few years earlier, an income of $60-$70K would have been enough for someone to qualify for a mortgage. However, due to the increase in the average cost of a home, which is currently around $400-$420K, people would need a salary of $120K to be eligible.
Copyright 2024, ConservativeHub.com
