As we reminisce about our childhood or reflect on just a few years ago, it becomes apparent that a multitude of goods and services that were once within the financial means of most individuals have experienced a significant increase in cost. Whether it pertains to specific dietary items or particular standards of living, numerous commodities and lifestyles that were once attainable for the average person are now viewed as luxuries that are only within the financial reach of the affluent.
Buying A Home
While initially intended to stimulate the economy, low-interest rates have historically fueled increased investment in real estate, pushing prices higher. So, while rich people can build their property portfolio, younger generations need help to put together a deposit on a home that is anywhere near affordable.
Freedom of Speech and Expression
Billionaires who own or control media outlets can lead to biased reporting, silencing dissenting voices, and shaping public opinion in favor of specific agendas. For people with no means of influence over the media, there is a barrier to speaking about how they feel.
Politics
The escalating costs of political campaigns in the U.S. raise concerns about money’s influence in politics and its potential to undermine fair and equitable elections that benefit all. If a billionaire wants something to happen, they will lobby to get their way.
Thrift Shopping
Thrift shopping can be a lot of fun, at least it used to be for many people. With rich people getting on the bandwagon of buying more sustainable clothing, the average trip to a thrift store costs a lot more than it used to. As more thrift stores try to appeal to those who have more money to spend, poorer people are being priced out.
Taxation and Fairness
The wealth gap between the richest and poorest individuals has been widening globally for decades. While poorer people have always accepted that rich people will always be better off regarding material possessions and luxury experiences, it is becoming more evident that the taxation system benefits billionaires much more than the everyday working person.
Minimum Wage and Living Standards
With living standards dropping for many people, billionaires are becoming more affluent and are so far away from reality that they are doing little to help people at the bottom of the ladder. While billionaires may not be running an individual’s life, they are certainly part of a system that does little to improve the living standards of low-income people.
Access to Opportunity
The rich can expand on their wealth and ensure their children do well in life, to the detriment of poorer people with less access to opportunities. While nepotism can be evident in all pockets of societies, it benefits billionaires and their families more than those less fortunate.
Cool Towns
The growing popularity of specific areas drives up demand for housing, exceeding the available supply. This can lead to rising prices and competition, pushing out long-term residents. People say that billionaires have done this in Denver, Austin, and Asheville.
Food Trucks
Food trucks have grown phenomenally over the past ten years and have even taken up homes on the grounds of rich people’s mansions. With increasing demand for gourmet food trucks, the people who have relied on them for cheap food are being priced out.
Camping
Camping was once a cheap vacation that could be enjoyed by people who could not afford expensive beach holidays. Glamping has taken over these days, and now a weekend away can cost as much money as a flight and hotel at a fancy location. Original campers call on rich people to leave them be so that camping spots can reduce their prices again.
Coastal Property
The rise of platforms like Airbnb can reduce long-term housing options, impacting affordability for locals and available permanent residents. Affluent investors purchase properties as investments, reducing availability and potentially inflating prices.
Collectibles
Collectibles have gained mainstream popularity, attracting more buyers and driving up competition. While many people enjoy the fun of collecting certain items, some view collectibles as alternative investments, potentially contributing to price inflation, especially for specific categories.
Montessori Schools
Montessori schools often have higher tuition fees compared to traditional public schools. Despite the fees, people on an average wage could still afford to choose this education for their children if they cut back in other areas, but this is no longer the case. The rise in popularity of this alternative schooling means that the average couple cannot afford it for their kids.
Concerts and Festivals
Festivals and concerts have grown in popularity, leading to higher ticket competition and potentially increasing prices. Rich people can afford the money that touts are asking for tickets and inflated prices that come with dynamic pricing.
Theme Parks
With VIP tickets, fast-lane passes, gourmet restaurants, and premium character breakfasts, rich people can afford trips to theme parks, but many people cannot afford to. Gone are the days of cheap days out, as many people now have to save for months for a trip to a theme park.
Donuts and Cupcakes
Foods that trend on social media are gaining high prices in stores and online, with rich people rushing to get the latest gourmet cupcakes or fancy donuts. Once seen as an end-of-the-week treat, some confectionery is now the latest way to show people online how trendy you are.
Bikes
The growing popularity of cycling for recreation, transportation, and fitness has indeed driven up demand, exceeding available supply in some cases. In addition, rising costs of raw materials, labor, and transportation contribute to higher manufacturing costs, which manufacturers then pass on to consumers. This means that most people who can afford a bike are rich.
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