Buying a Home on One Income Used to Be Normal — Now It’s Impossible
In this video, personal finance expert Ramit Sethi argues that the United States has systematically created an intergenerational wealth gap through decades‑long policy choices that favor older generations—particularly baby boomers—over younger people. He explains that while not every boomer is wealthy, the aggregate effect of policies such as generous mortgage interest deductions, pension structures, and housing subsidies have made it relatively easy for previous generations to purchase homes and cars on a single entry‑level salary. Today, rising home prices, stagnant wages, and a lack of comparable policy support have rendered it virtually impossible for a person working an entry‑level job to afford a house and a car, even in smaller or less sophisticated forms. Sethi frames this shift as an intentional, not accidental, outcome of political decisions that prioritize seniors, leaving younger generations at a structural disadvantage.
