Re:Why America's economy is soaring ahead of its rivals
by acchow on Saturday December 07, 2024 @10:35PM
(#42354859)
It’s quite common in the middle class and below in the US to spend every extra dollar you make as your income rises. This means, despite getting promotions or raises, your a savings rate remains zero (or negative).
One primary way to increase spending is a vehicle upgrade.
Most vehicles sold are used vehicles. But if you consider only the new vehicles, the average monthly payment for new vehicles is about $740/mth.
Also: fuck me, if americans have a 700/month car payment on average most americans you're likely to interact with on a daily basis will be deep under the poverty line. Like, the actual poverty line of "struggling to survive", not the bullshit metric used to cut people off from welfare.