Correct. More specifically, your upper middle class neighbors whose incomes have grown far more than middle earners over the past few decades: https://marginalrevolution.com/marginalrevolution/2018/03/cb...

The people responsible for the cost crunch middle class people feel isn’t billionaires. Bezos isn’t using his money to buy up houses or daycare spots in your neighborhood or Disney Word tickets. It’s upper quantile white collar workers. They are competing with the middle class for the same goods and services, but make much more money relatively than they did in past decades.