"It's called the American dream, because you have to be asleep to believe it."

My parents didn’t go to college but were able to buy a 2 story house in a middle class neighborhood for $180k that’s now worth over a million…

My mom visited me recently. She helped me buy groceries for the next month. I cried with gratitude and relief. I asked her, “when I was little did you think your kids would have a better life than you did?” She sounded so sad when she said, “I really did.”

I left USA and bought a 2 acre land with a 3 bedroom house in south America for $30k total, including the land. I am mortgage free and living off my farm. I will never go back to the states.

I don’t think there is a middle class anymore. It’s just the rich & poor

The middle class doesn't exist anymore. The professional class is the middle class now.

‘America is too expensive. A house is 10x the average salary.’ A few weeks ago. ‘Lemme show you how I’m gonna landlord/airbnb this investment property, price gouging tenants rent equal to multiple of my mortgage.’

The American dream is getting the hell out of America! Ironic.

Millionaire is the new middle class.

i came to US from Taiwan in 1999. i am now thinking about going back to Taiwan. on top of the absurd living cost in the US, the crime and general social implosion is just getting scary. in the last 4 years, 5 people i know already left to go back to Asia, 2 back to Thailand, 2 back to China, and my sister went back to Taiwan last year. and we are still young. i cant not imagine living in the US as 70 year old. no job, no saving, and expensive medicine that would render you homeless

I left the US in 2016. Previously I was a public school teacher in South Carolina, and now I work at an international school in Malaysia. Even though my salary is lower, the savings potential is much higher.

I'm 38, with a bachelors degree, make $54k a year, and I live in an RV because I can't afford an apartment on top of all my other expenses. Germany is on my horizon within 5-10 years, depending on how much I have saved to afford expatriating there.

A lot of people can’t even find a job now after studying at universities

Registered nurse here. I worked hard in school and am 4 years into my career..I budget and don’t overspend and life is just toooo expensive. Its disheartening.

I have a friend that moved to Germany and never regretted it. After her parents passed she moved. She had an expensive mortgage with 3 bd 2 bath 1 car garage and sold it for 3x she paid for it in the 2000s. The country has a flat tax where everyone pays into. Health care, dental and retirement is taken care for and invested in the economy. There are no homeless people in the streets everyone has a job and rewarded well. Her apartment cost $256 dollars a month plus expenses. Her wages around $3k a month. She saw this coming after the 2008 bubble she prepared herself and left the US.

It only took me 4 months in Warsaw, Poland and Sofia, Bulgaria to realize a different location/country can absolutely bring you more happiness. As long as it aligns with your values, lifestyle and budget. P.S. these are two budget friendly countries. Your money goes longer in Eastern Europe.

As a Swiss person I was shocked about all the prices (restaurants, coffee, hotels) in America on my visit this January. I last visited America in 2019 and the difference was really staggering - so in a sense I had the exact same reaction like you, in reverse :D

Most people can’t even qualify to rent an apartment. Because the major complexes are requiring 3 times rent. So for an apartment that’s $1500 you’ll need $4500 in gross income. Most apartments in that range are studios. Not feasible for two people.

You’re killing it with these commentary vids!👏🏻

These long form videos of Shelby like this are incredible. I think this is your gift is commenting on these topics like a journalist. Thanks for doing this.

I watched the whole video and really enjoyed it but was surprised you made no mention of institutionalized home ownership. As of March 2023 it was estimated nearly 30% of homes were bought with the intention of renting it out rather than using it as a primary residence. Having nearly 1,000,000 single family homes owned by private companies for the purpose of controlling and raising rents on entire sections of the country is absolutely contributing to this issue as well.

I have been living in Mexico. I have met A LOT of people that went to the US and came back. They said they can make 5x what they make here, but the cost to live is 10X what they pay here so its not even close to worth it. The economy is starting to really pick up here.

This video was very well put together and everything you mentioned was SPOT ON!!!

As an LA firefighter currently renting due to the challenging local housing market, many of my colleagues and I are considering relocating out of state and adjusting our schedules accordingly. In the past, during major emergencies like earthquakes or wildfires, local off-duty firefighters would drive to their fire stations to assist. Unfortunately, living out of state means we won't be able to reach our stations promptly to help those in need. Best of luck to everyone.

Printing and distributing 7 trillion new dollars into the economy will have generational consequences.

I’m single income 33 year old Paramedic and bought a 1200sqft house in Canada on 2 acres in late 2020 for $190k.. similar listings are now >$325k.. I got in at just the right time because I could never afford anything now and maintain the same lifestyle. I make a good living at $80k CAD and have no debt, but had I not bought in 2020, I couldn’t even afford to rent alone right now because that’s even more insane. I feel for people in that position, I just got lucky with timing.

Your videos are so informative! Thank you for these! 💕

I really love your content Shelby, this one and the child-free by choice one really hit home. Great work!

Absolutely agree with you!! I think this concept relates to your other video on being lonely. We are all too busy working 40-60 hour weeks, still being broke wondering how we'll ever have what our parents did at their age. And we wonder why everyone is so lonely or unhappy? I believe it's because we are trying everything just to keep our heads above water, and for some it's still not enough.

I did all my gen ed credits at a community college and because of that, I had only like 1/4 of the debt of the people I know who went the full 4 years at a university. It's so gross how college is unsustainable at this point.

I just stumbled across your channel and couldn't let go for 27 plus minutes! Very real, very informative, and very well done. I wish I could have seen it 60 years ago! I'll be back.

Very well put together video, Shelby!

I moved abroad in 2009 after gradutating college in 2007 and strugging to find an even slightly decent job, I worked all kinds of construction jobs and odd jobs, then i moved Europe to teach English and suddently went to only working 25 hours a week and having lot's of extra income although my salary was lower. Every time I visit the US it's just depressing for me because everything just seems much harder and more expensive. It's important to realize that we have a government in the US who is absolutely not looking out for our best interests and they think they can ruin the middle class and the american dream and people will just accept it, one of the most powerful things that people can do is say hell no, I don't accept that, I'm out and I'm not coming back until the gov realizes it's got a major problem on it's hands and makes a drastic course correction. At this point the most patriotic thing you can do is leave.

Shelby two weeks after trying to buy a condo in LA: "is it time to move to Mexico City?"

Thanks for the info Shelby and so thankful to find your channel. I like your coverage of today’s economic uncertainty. You spoke facts, without much doom n gloom like others on YT. You gave great suggestions, as well. Keep on!

Loving this new series!!

Shelby, good for you for having your eyes wide open. Everything you said here is factual.

I'm brazilian. I grew up upper middle class over here. Things changes so drastically in the last few years that I would be pretty much homeless if my parents haven't got me an appartment when I was growing up. Things are so expensive it's crazy and salarys haven't follow up over here either. I'm aware i'm very privileged but even this privilege isn't enough right now

This series is really good Shelby!! I enjoyed them

I left the US in 2018 and I’ll be getting my second citizenship soon. I don’t miss it at all. I call everyone who refuses to leave “left behinds”. I’ll be retiring in the Mediterranean or Thailand.

One thing that should be mentioned is foreign investment in residential. This is a huge problem in California (I’ve read in several states but I can only speak to this state). It should be against the law for a non-U.S. citizen to buy a home here as a non primary residence. This is more of an issue in California than generational wealth.

If you leave the US and go to other country be nice with locals, be respectful, learn at least few local language, pay taxes, contribute to the society of that country, make it better.

Your content is so good! Love the thought provoking videos you post.

Great content as usual Shelbyy❤One point to clarify this, the wealthy do save up enough to buy their next assets. They do not save as a means of building wealth or as a retirement strategy..

In 1988 when I graduated high school, I had a pretty good job, and was able to rent a house with a pool with my buddy and we both had extra money no problem. Life was easy and fun then

great video. appreciate the stats and facts-based reporting. and the anecdotes are interesting

So more diverse we get, the more immigration we have, the poorer we become. But we were told that diversity is our strength and mass migration is always good, even illegal immigration (then why doesn’t China and others embrace it too?). As America has become less White, we have declined by almost every metric.

It should be against the law for a non-U.S. citizen to buy a home or land or farm anywhere in the United States. Just as it is for an American expat in THEIR countries. RECIPROCITY is the only moral policy.

In Britain we have the exact same issues. The only difference is that our salaries are way lower than USA and buying a house today is not even a possibility even for professional married couples.

10:43 in many cases no one is buying the houses and everything it just empty and rotting away. Excellent video! You're a smart cookie!

We bought our house in Wilmington, DE in 2016 for $125k. We just refinanced last month & the house was estimated at nearly double the price. It’s an old, 110yr old house. We haven’t renovated anything, or done any work at all to it. If anything, the (shoddy) renovations done by the previous owner have deteriorated quite a bit. But still, if we were buying now, this house would absolutely NOT be in our budget. We’d love to sell & move out of the city, but right now we’re stuck here.

I don't think this necessarily is a unique issue to U.S. I think it's more of a mental awakening across the globe on work cultures, governance and economy. For example, I'd love to leave U.S. because I'm staying in U.S. but when I hear from my friends in Korea or Japan, their situations are also not the best and they still believe in American dream.

I just moved back to the States last May after spending most of my adult life in the UK....its everywhere! And it was just announced the UK economy is officially in recession. I am a single mother so 1 income coming into my house and everything went up so much in the year before I left, I was concerned I wouldn't be able to afford my house anymore. (which by the way my mortgage was half of the price of the rent for the exact same home)..Sometimes it feels like the only way you can possibly start to save anything to get ahead even a little financially is by living with other people who can all contribute to the costs of one household....I could go on and on about this subject...

This is what late-stage empire looks like. Everything is starting to fall apart slowly. But as the collapse continues, it will speed up, like a ball rolling down a hill. We'll end up like Russia in the 90s, maybe worse. Sad.

I love your channel! This video is absolutely accurate. Two years ago, I relocated to Spain from San Francisco, where I was running my own company and earning well over six figures. Despite my income, I felt like I was barely scraping by due to the high cost of living. Moving to Madrid was an eye-opener. I now enjoy a lifestyle that is very similar to what I had in the US, but with much more comfort at a fraction of the cost. For instance, a "very good" salary in Madrid is around 50,000 euros annually, which feels equivalent to making $150,000 in the US. I'm always amazed at how much more affordable life is here compared to the US. Regarding the American Dream, I believe it's somewhat diminished. However, for entrepreneurs, the American Dream thrives since our society in the US highly values entrepreneurship. This mindset is less prevalent in Spain. Starting a business here is more challenging, as I've been experiencing firsthand, but there are certainly trade-offs. Anyway, fantastic video!

I can relate to working side hustle. I used to work anywhere between 60-80 hours a week for years. Then for a bit over a year I was a full time grad student. The mental toll that all that work took… I was extremely burnt out, and it took me at least a year to recover. Going back to a regular full time job was nearly impossible after years of sleep deprivation. I couldn’t function. I was able to buy a house with the money I saved in a rural area outside of Austin, Texas, but I don’t think I’d recommend overworking yourself to anyone. Side hustles are necessary now to achieve your goals, but for those that choose to work extra, be mindful of how much time and energy you spend working. There needs to be a balance, and it’s very easy to lose that.

Another huge contributing factor that could’ve been mentioned is that our government decided to print 40% of the currency within the last four years and dump it into the system along with the largest transfer of wealth in human history that happened during Covid. Idk about everyone else but I know that that had a huge detrimental impact on real estate prices in my area and they have not come down since then.

Yeah, I'm trying to leave the US immediately. It's not just the death of the American Dream, there's so much I hate about living in this place.

Hi Shelby! I recently found your videos and really enjoy them. For this video I did want to mention an academic outlier that saves money: Oftentimes students getting PhDs in engineering or the sciences can receive an annual stipend (example: $35,000 min in 2024) and fully covered tuition. But that of course is after they get Bachelor's Degree. Although the stipend may seem low to some, imagine being paid to attend school and not accruing debt.

I think this should be your new thing Shelby! I’ve been loving all these journalistic/opinion videos

The cause of today's economic problems started many decades ago and is relatively complex. Low taxation of the wealthy and corporations is a very small element of the problem; one that some politicians like to push to deflect blame from themselves. The current problems started in earnest many decades ago when large manufacturers starting shipping manufacturing overseas to cheap labor nations where they also didn't have to deal with labor and environmental laws. This was done to benefit the "investor class" who own and profit from these large corporations. A few well placed bribes, I mean campaign contributions, and they were able to do away with the import tariffs that had been in place for generations to prevent foreign companies from dumping cheap goods on US markets, thus driving US companies out of business. (except in this case, it was large US companies dumping products made with cheap overseas labor). The net result was that many good paying US manufacturing jobs went away and the middle class started to crumble. The investor class tried to put the blame on US labor which they told us was too "greedy." AS more and more jobs went overseas, they told us they had to do this to compete with the other companies who were already doing it. The race to the bottom. Another major element is decades of government overspending resulting in annual deficits and mind blowing long term debt. You could seize 100% of the profits of the corps and all of the wealth of rich individuals and it would not fix this problem. I believe the USA now has a debt exceeding $34 Trillion. The 3rd major element of the problem is the policy of the federal reserve when they try to avert economic tough times by lowering interest rates to a point that it is essentially free money. All of this easy money poured into real estate causing a huge bubble which burst in 2008. Then they lowered rates further resulting in today's real estate and stock market bubbles. All of the free money doled out during the "disease of unknown origin" just pushed things over the top. And yes, I do believe in the case of the latter, many companies used this as an excuse to jack prices up. Education also started to become more and more expensive as the government made money easily available to students. And as usual, the greed humans who ran the universities took advantage of the easy money coming their way and jacked up the prices. This massive bubble of all bubbles we now find ourselves in has to burst, and probably soon. What we do after that will determine our long term future. If they drop interest rates back to near zero again, inflation will just resume again and probably be very ugly. Also watch for ugly moves by the government as they struggle to generate revenue (i.e. take your money) so they can pay the interest on this massive debt they created. Good luck, everyone.

Amazing work :)

Great content!

28 been living in an apartment for 5 years now, I make a good salary and have no debt, houses are crazy expensive even for people like me, the only way to get into a house is to have a spouse who also makes good money as well and you are smart and make strategic decisions with your money.

I believe the American dream of home ownership was destroyed by the investment market competing for home real estate as an investment. Inflation happens when more money is chasing fewer goods. I frequently dream of leaving the country but I’m perpetually too broke to afford paying for my past mistakes. I may never dig my way out. I feel like an indentured servant 😢 Great topic! ❤

Politicians often claim that making the rich wealthier will benefit everyone. However, even when it's proven otherwise in videos like this one, some Americans still vote against their own interests, hoping they'll also become wealthy someday.

Love this series!! Can you do one on the topic of finances and debt

I grew up lower class, child of immigrant parents, youngest of 5 children. I went the community college and transfer to state route. I was able to pay for college with part time job income and living with my parents. I am an RN in California and husband has a blue collar job. We were able to save up by living with my in laws and was able to buy our condo last year. We have one kid, try not to spend excessive amounts and started investing in our adulthood. I really enjoyed this episode and found it very insightful, definitely agree on your stances/view/recommendations!

Hot take -- the middle class is dead for people who "followed the rules" without having any financial literacy. Taking out $100,000 in student loans but then seeking out a job with a $50,000/yr ceiling is not going to work. There are jobs that don't need college -- but the classism in the USA is astounding. People will ruin their financial future just to not have to be a "laborer" or "blue collar"

This is well researched, documented, and facts check out. I appreciate all of the work you put into this while being fair and realistic. I intend to leave the US and retire overseas. This is more affordable and I have no intention on coming back. I appreciate you stating the counterpoints for leaving, but I gotta take care of myself and my kids.

Here’s the ultimate issue: the only feasible way to build wealth is America is through real estate. We’ve attached people’s life savings to their home. Therefore making changes will infuriate an entire base of people if their house values tank.

My Dad bought homes in Pasadena for $30-70K in the 70s. Most were duplexes. He told me when he first visited Cali in the 50s, houses were $5K.

I got laid off at my 9-5 job and I'm starting my business. I get tired of the BS with the corporate world. Low pay, no respect, no job security....got to take matters into my own hand and secure my financial future.

In Southeastern Massachusetts in 1970 you could get a waitressing job for $20k/yr and one could buy a 'starter home', roughing two bed, one bath on an acre of land.. for about that same $20k. A five year mortgage was 100% practical. Today's younger folks are not whining, they have a 100% legit beef with current financial situation. Respect to you young lady.

If you are a US citizen and you make over $110k a year in income, you will be double taxed wherever you live outside the US. Meaning if an American citizen moves to Germany, and you exceed that income threshold, you will owe the German government taxes as well as the US government. No joke. We are one of two countries in the world doing that. Obama signed that law into effect in 2010.

Great video, I wanted to add that not all boomers are financially sound. A lot of them that didn’t invest in their future are now struggling to make it off of social security and are now leaning on their millennial children for financial help which is also straining millennials especially if they have kids to provide for as well.

I loved this. Thanks, Shelby.

Shelby, I must commend you on the exceptional quality of this video. It's evident that you've put in extensive research, and once again, you've delivered a highly thought-provoking piece. Keep up the fantastic work, and I strongly encourage you to explore the possibility of starting a podcast.

As a factory worker, I wouldn't necessarily say it's a below average job. But it's an average wage for the entry level, full time jobs you can get around my area, with no experience or education requirements. Plus, you don't have to deal with customers and you rarely have to talk to anyone (great if you have social anxiety, like myself). Average salary for the *entry level* positions at most manufacturing plants (in NC/TN - LOW min. wage states) is $15-$20 per hr +$1 an hr extra if you're willing to work nights. We usually get great health insurance packages since our work involves physical labor. The drawback; I've only worked this job for 2 years and it has deteriorated my body faster than anything I've ever done in my life, thus far. Nothing will bring out and exacerbate pre-existing physical ailments quite like working in a factory will. A mild case of tendonitis in my ankle that only bothered me if I walked a little too much, now standing 12 hours a day on concrete has completely f'd that ankle, it hurts all the time and has basically no stability in it anymore.

During Reagan years. We had a small family owned business. We were going to the bank up to 3 times a day to make deposits. Those were our best years in business. We had a Mom and Pop hardware store/lumber -flooring store.

The middle class is the poor people now and the professionals are the middle class. The poor people are now homeless.

1:34 lol I see the office in the background

I am so glad you articulated this. I was beginning to think I was imaging that the American dream was nearly impossible to achieve. I also love that you mention where there is hope too. I am working on building my own business. It's the best way I see.

I definitely agree that businesses do not pass down increased revenue to their employees. An economy is based on the productivity of its people. Personally owning a business is a good idea!

I'm such a big fan of yours, Shelby! Thanks for these thoughtful, well-researched videos. I'm learning a lot but I'm also sanity checking a lot which feels like a relief.

That's why, if you're an only child, it's always a good idea to be in good terms with your parents. If you are unable to own a house now because it's too expensive, but your parents do, you will eventually own the house (plus the car, jewelry, etc) once your parents leave the scene. In all likelihood, that will only happen once you're getting old yourself, but still, you will own one at one point in your life. So, it's better than nothing. Just another incentive to take care of your elderly parents if you think about it.

Come to Africa or Asian countries to realize how America are much close to heaven more than any country

In 1920 the average house (in US) cost ~$6k or 300 oz of gold. In 2023 the average house is $400k or 200 oz of gold. Meaning it’s the devaluation of the dollar that’s the reason why you can’t afford a house. Nixon’s fault, we should have stayed on the gold standard. That way the govt would be forced to live within its means meaning more pricing power for everyone else.

"The Federal Reserve System is not Federal; it has no reserves, and is not even a system at all. But rather an international criminal syndicate."- Eustace Mullins.

Sold everything I had, bought a 3/1 homestead on 2 acres for 30k cash. House is a dump but I have a roof over my house and will fix it up. I now live in a town of 200, 25 minutes out from multiple large towns. My taxes are 200 a year, insurance is 700 a year. Started growing my own food and slowly acquiring solar while I use the grid. I have a restaurant depot couple hours out. I pickup a thousand dollars of food twice a year and i eat like a king buying everything whole. Different rules these days. I am finally at peace now. The rat race is pretty much a fools game these days.

25:58 - This is good advice.

I'm a rocket scientist that graduated school during covid...only to come out of covid and realize that I suddenly can't afford to be middle/upper middle class like I had spent my entire life believing I could. I got incredibly lucky in the stock market and that's the only way I was able to afford a down payment on a stupidly expensive home for my area. I'm the only one in my graduating class that has been able to buy a home so far.

This series is EVERYTHING! I love your research and approach! Keep it up I loveeeee

Are you kidding me , the cost of living in ,the UK is very high especially England .

It is cute that she is like holding a hair dryer when talking! Good videos! Thanks 🙏 Good job as always!

4:30 Why is Harvard Tuition adjusted left out?

Great info! As an almost boomer with kids in their 20’s I understand better after your video what they are facing! I chose to leave the US for 15 years and my children have dual EU citizenship. My oldest says all the time they want to move so from the US they can afford to live a better quality life. You really opened my eyes to what they are up against. I was still under the impression that folks can make it going in the direction I was taught. I realize now that is much more difficult if not impossible here. It makes me sad.

It's the same almost everywhere unfortunately. I'm from New Zealand, been living in Australia the last couple of years and now in the US. US definitely has more inequality. Australia has better wages and overall cost of living ratios, but it's still crazy. I don't know anyone my age who managed to buy a house without family help. In my home city house prices are about 12-15x the average income, and you have to have a 20% deposit - who can save $100,000 while paying rent that is also crazy high??? It's frustrating trying to explain this to older generations sometimes, as they just don't get it.

hello Shelby I have had difficulty with some of the issues you discuss regularly and am looking forward to learning from your channel and getting a female perspective which as a man I have trouble understanding sometimes but I also respect.

i just revisited SF / Bay Area after 12 years. Goodness gracious. Everything you said is true. Most ridiculous experience was when I ate at a restaurant, the suggested minimum tip was 20%. On top of that there is "living wage surcharge." there were no such thing 12 years ago. just crazy.