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Certain everyday goods, like food, rose even higher.
Heres what she said.
Some experts argue that percentage should be even less.
So, what does that look like for Americas middle class?
Now, say someone purchases a home for $492,700 and puts 20% down ($98,540).
Their loan amount would be $394,160.
Next, assume they get a 30-year, fixed-rate mortgage with 6.5% APR.
Excluding property taxes, insurance and other fees, their monthly payment would be around $2,491.
Based on the Census numbers above, amiddle-class, monthly gross incomewould be between $4,717 and $14,150.
Healthcare
The U.S. healthcare system has always been expensive.
In the U.S., the average person spent an estimated $12,555 on health expenses in 2022 alone.
In comparison, the next-highest expenditure was in Switzerland with an average of $8,049 per capita per annum.
Considering the average middle-class income, healthcare can take up a significant portion of theirbudget.
And it doesnt seem likely that costs will decline any time soon.
With healthcare inflation no doubt increasing, comprehensive healthcare could be unaffordable for a majority of middle-class households.
Higher Education
Last but not least is higher education.
As Kullberg explained, Higher education is also becoming increasingly impractical.
Unfortunately, she said this means traditional college education might no longer be the default for middle-class families.
Out-of-state tuition and private universities tend to be much costlier.
There are programs state, local, government, etc.
to help subsidize some costs.
Everyones financial situation, from income to spending needs, is also different.
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