Is the Middle Class Disappearing?

Question

Are we seeing populations moving into more sharply divided rich and poor class structures, while the middle class disappears?
Additional optional discussion points:
•Has general quality of life increased, decreased, or remained roughly the same in the last generation (20-30ish years)? 
•Has your personal standard of living changed as an adult vs. childhood?
•What is the most important thing we can do now to provide for a better future?

Answer

Something I’ve noticed is a big change in what’s considered middle class. It’s why I asked about childhood vs. today. 
Housing is the biggest factor I can see. When I was growing up, non-luxury apartments were mostly for young adults, retirees, people in the service, or those living below middle class. I don’t think any of my friends or relatives didn’t own property. That includes people with limited incomes, and spending money. This may be particular to my part of the country, but second properties in the country with small cabins were really common too. 
That changed hard after the Great Recession. So many people lost their homes. Many people I know now rent, with ownership seen as more of a luxury. Multigenerational homes are more common, with young adults now staying home much longer. Those little cabins are mostly gone, and replaced with a smaller numbers of luxury vacation homes for the wealthy. 
I’m also seeing an increased amount of work needed to cover daily life. Second jobs, side hustles, and unfortunately people getting scammed with MLMs are much much more common now. Overall, standards for what is middle class seem very different to me.

Answer

The quality of life is measurably worse. Housing costs have exceeded the inflation rate by 150% since 1970. Tuition costs, including room and board, have increased 169% since 1980. (Sources: 
https://anytimeestimate.com/research/housing-prices-vs-inflation/
https://www.forbes.com/advisor/student-loans/college-tuition-inflation/) 
The birth rate is declining due in large part to economic barriers, which will have a ripple effect in an aging population. Life expectancy is declining. 
On a personal level I'm actually doing better than my parents but they were terrible with money so that's not saying much lol. I'm a homeowner and I feel so lucky to have bought when I did. I bought my house 6 years ago and the market value of my home is about 200k over what I paid for it now. Which doesn't benefit me at all unless I planned to move to a place with a lower cost of living after selling, lol. And supposedly the cost of living is comparatively low here, but it's rising quickly due to so many transplants moving here because they're seeking a lower cost of living. The rental market has seen huge increases as well over the last few years. 
I'm not sure what can be done about it. I don't think most people are open to solutions. One specific policy I favor in order to get the rental market under control is to place a nationwide cap on rental increases each year. But the few politicians who have floated this idea have been branded as socialists. I don't have a lot of hope for necessary changes to be honest, which is terrifying as a parent.

Answer

Yes, it is shrinking.

Answer

I’m not too sure. I want to say it does seem like it. I think since wages have not increased, but cost of living has rather drastically increased, the jobs that would give someone stability no longer do so.
I think my family and I have kind of gone in and out of being poor my whole life. I think it’s hard for me to judge because I haven’t really experienced life as an adult much. I still live at home and probably will for a long time. I would not be able to afford an apartment right now. With my income and my boyfriends, we could maybe afford the rent, but we wouldn’t have money for other things like utilities or our phone bill. 
A lot of luxury apartments are being built in my town and it’s just kind of a slap in the face honestly lol. It definitely makes the gap between rich and poor seem more defined and larger.

Answer

It's already gone.

Answer

Yes it’s shrinking and my quality of life has gone significantly down in the last three years- I’ve had to cut all vacations, trips, extra spending, and my food quality/quantity has suffered. I’m making it, only because I own my home outright. I expect to have my children living with me for a long time, possibly even when they have children, because multi generational homes tend to make life a bit easier for everyone involved (as long as there’s no abuse). Working on some self sustaining ventures.

Answer

I always considered myself middle class, but now I definitely feel like I’m slightly above being poor? I feel like moving out would be so hard if I was to do it alone and I don’t have enough to cover any random emergencies.

Answer

Life has drastically changed in the last 20-30 years. From rising taxes to recessions, it has affected everyone. Wages have drastically shot up due to the pandemic and massive job resignations  which has now caused everything to catch up. The middle class is shrinking. Lower middle class is going into poverty due to inflation prices of bills and groceries. People are maxing our credit cards to be able to eat. It’s getting harder to qualify for state assistance programs even when there is proof of poverty. 
I grew up in a wealthy home where none of my needs were met intentionally. I struggled as a child because my mother was a narcissist. As an adult I am well off financially due to my two careers I’m in and the ability to achieve multiple degrees. My partners are lawyers and well paid. I am very lucky to live where I live and earn what I earn. Our standard of living has just been increasing over the years. We are considered upper class. 
Many of my fellow teachers and college professors are earning drastically less than I am. Couples who are making six figures a year are now living paycheck to paycheck in some areas due to the massive inflation. Some are being paid poverty wages in careers that require college degrees, like teaching. Things are becoming no longer affordable at a drastic rate for many people. Some people are too poor to work due to gas prices, especially with longer commutes.

Answer

Most middle class people cannot afford proper health insurance but still do not qualify for Medicaid because their income requirements are outdated. If that’s not proof that the middle class is vanishing quickly I don’t know what is. The people who once lived comfortably are having to budget in ways they never had to before. Quality of life changes when you have to learn how to live with a fraction of the income you’re used to.

Answer

I and pretty much everyone I know is middle class...

Is the Middle Class Disappearing?

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