Over the past 20-30 years, what changes have occurred that now make it necessary for many households to have two incomes to stay afloat?

Question

Over the past 20-30 years, what changes have occurred that now make it necessary for many households to have two incomes to stay afloat?

In: Economics

Answer 1

You need two incomes because your neighbors have two incomes and you are competing with them to purchase the same house, groceries, school, etc. The people selling these things can sell them to a two income house for more then a single income house, so they do. Eventually the single income house is priced out of the market, and the only way to keep up is to become a two income house. This spreads across society one kitchen table conversation at a time until every house is a two income house.