Have you ever wondered why it is so difficult to maintain a decent standard of living in the Lehigh Valley, Pennsylvania, or any area of the country? Most often the usual suspects come to mind; jobs moving offshore, housing market issues, or the economy being bungled by politician.
Many highly educated people and professional studies provide answers about inflation or show economic indexes that demonstrate Americans being pushed to the brink. All of the reasons have their kernels of truth, but let’s look at a simplistic, folksy, down home explanation: in today’s world things simply cost too much!
Unfortunately almost no job or owning any type of small business really seems capable of providing the income necessary to maintain a basic standard of living in America. In fact the cost of owning a home and car, when combined with the things needed to maintain the same, in reality are only available to a chosen few.
Often it costs in excess of $4,000 per month to mortgage a home, be a two car family, pay for utilities, insurances, upkeep and maintenance. In fact, if a family is going to be prepared to save for college, retirement, expect a family vacation, and be prepared for emergencies, they will need to earn double the outlay of cash needed for monthly expenses. That would mean close to $100K of yearly income!
In today's job market where employers are looking to cut labor cost and have a laser-like focus on the bottom line to keep stock profits high, Valley residents are hard pressed to find a job or business opportunity that can provide even half of that type of income.