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Originally Posted by blankall
If you actually break it down into real dollars, similar or greater subscription expenses have always existed. Instead of cell phones and Netflix, there were magazine, cable, and phone subscriptions a generation ago. Given the huge profitability of magazines 30 years ago, you can't argue that the previous generation didn't have their own vices.
Anyways, I think this is all a bunch of garbage being spewed by baby boomers to rationalize their own wealth while they create an even greater economic strangle hold over younger generations.
Coffee shops aren't a new thing. Spending $200 less a year on coffee is not going to get you anywhere near a down payment on a decent property. The bigger question is why are middle class earners now expected to live in poverty without any kinds of luxuries? That certainly wasn't the way 30 years ago.
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I think it was fairly common for middle class earners to live in 1000 sqft bungalows without cable and not buy new cars. You can't buy a sub-1000 square foot house anymore. Also Monthly payments for 25 year loans have relatively followed inflation. The housing price increase is mostly driven by cheap interest rates.
I do agree with you that subscriptions did use to exist but I do not believe it is as ubiquitous as today and certainly not as convenient to sign up and have recurring payments just do to payment tech.