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
Two-income households have been the majority [since the 70s,](https://www.bls.gov/opub/mlr/2020/article/comparing-characteristics-and-selected-expenditures-of-dual-and-single-income-households-with-children.htm#:~:text=Both%20full%20time-,Employment%2Dstatus%20proportions,from%2052%20to%2058%20percent.) and the rate hasn’t really changed at all since the mid-nineties. So the assumption baked into your question is not super accurate to begin with.
Additionally, median personal income [has never been higher](https://fred.stlouisfed.org/series/MEPAINUSA672N) relative to expenses. Which suggests that if families wanted to live the single income lifestyle of their parents or grandparents, they could.
So, to the extent that they’re choosing not to (which, again, is smaller than you think)… why is that? *Probably* because the opportunity cost of staying out of the workforce has also never been higher. So more people are choosing the lifestyle bump achievable from two incomes.
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