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Americans can no longer afford their cars (www.newsweek.com)

submitted 10 months ago by jack@hexbear.net to c/urbanism@hexbear.net

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But as things stand, cars are still really expensive for many Americans. Just 10 percent of new car listings are currently priced below $30,000, according to CoPilot. Things are not much better in the used car market, where only 28 percent of listings are currently priced below $20,000.

According to an October report by Market Watch, Americans needed an annual income of at least $100,000 to afford a car, at least if they're following standard budgeting advice, which says you shouldn't spend more than 10 percent of your monthly income on car-related expenses.

That means that more than 60 percent of American households currently cannot afford to buy a new car, based on Census data. For individuals, the numbers are even worse, with 82 percent of people below the $100,000 line.

$100k to afford a car! Wtf.

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[-] Kestrel@hexbear.net 9 points 10 months ago* (last edited 10 months ago)

Hey let's build our our entire manifest destiny lebensraum colonial project post WW2 around not only the need for an inefficient personal transport, but also around a social-economic system that provides a level of income to a (yt) middle class so they can afford to use it. Oh and let's spend the greatest sum of money in human history that will likely ever be achieved to build it. And then finally let's make those personal transport gismos out of reach for the middle class we decided to erase bc profits.

Should be fine.