Are you in the middle class? looking to buy a house? Get an education
while living in the middle class? keep watching. What is going on everyone?
Welcome back to the world according to Briggs are you part of the ever
shrinking backbone of america known as the middle class
yes the middle class is shrinking like it just jumped into the ocean in january
for some of you the first question is what is the middle class
pew research defines the middle class as people earning between
two thirds and double the median household income for the nation
this means that the category of middle class income is made up of people
making somewhere between 41 and 123 000 as of 2019. so do you fall into the
middle class in the 1970s 61 of the united states
adults were living in the middle class as of 2019
it's down to 50 percent of us that's why i say yes
the middle class has shrinkage like it just jumped into the ocean
in january most of us are falling into the lower income brackets with a small
percentage moving on up like george jefferson today we're
looking at the worst dates to be in the middle class and why let's take a
look number 10 colorado to start off our
warning video for the middle class we have the centennial state colorado in
case you're wondering why it's called the centennial state colorado became a
state 100 years after we became a nation
colorado has been a migration hot spot off and on since the 1970s all thanks to
freaking john denver that man ignited interest in this state in the early 70s
there are other reasons but when they surveyed baby boomers that lived in
colorado a lot of them brought that up quite
often actually they said it got their interest piqued and they ended up moving
there never left it's bad enough when income averages are
stagnant but when they actually trend downwards
you got some problems the five year change in middle class
income households is minus four point zero six percent so they're not making
as much as they used to five years ago while things
have gone up tuition in the colleges has gone up 22
in the last five years that's for in-state tuition the median home value
has gone up 51.67 percent and if you want to slap
down 20 for a mortgage you're looking at 85 000 in colorado right now
all the while while your incomes are shrinking
number nine new york the empire state comes in at number nine and i'm sure
most of you thought it was going to be one of the worst five i did
new york has seen one of the highest outward migrations in the nation the
last few years and it shows no signs of slowing down
i think the post pandemic days will only speed this process up the middle class
is obviously the largest group leaving and when you got stats like they have
it's not hard to see why the five-year change in middle-class
income has gone down 5.54 the median home list price is 400 000.
actually it's 399 900 100 shy that means if you want to
have a 20 down payment for a house you're looking
at right around eighty thousand dollars property tax here is killing people one
point six eight percent the monthly mortgage payment in new york
now this isn't just the city just through the whole state
is over two thousand dollars yeah there's a lot of reasons
people are leaving new york wages and cost
are two of the biggest ones number eight connecticut
i like connecticut i never hear many good things about the state but i still
like it the people i know from new haven and bridgeport are really good people
apparently hartford blows and most the other major cities
if you can call them major cities they're kind of small cities in this
state have really bad stats the nutmeg state is kind of weird it has
a lot of run-down cities and towns that cost a lot to live in
i've said this before about the state but it's very fitting it's almost like
they're telling the residents we know this place sucks but we're going to
charge you like it doesn't the 5-year change in the middle class
income has dropped 6.1 percent the median home list price is 325
000 that means if you're going to plop down your 20
you're going to need almost 65 000 property tax here
is kind of where i told you we're going to charge you like it doesn't suck it's
2.07 number seven california again i thought
for sure we'd see the golden state later on this list but here it is
california has so many things going for it people are still flooding in
the downside is they have so many bad things going on it's causing long time
residents to run into the hills in horror the middle class is being
eliminated in california the state has more people moving in each
year than moving out so it's still growing
here's the rub most the people moving in are upper middle class and upper class
folks those leaving are the middle class and
poor the five year change in middle income has dropped 6.4 percent
five year change in tuition it's up almost nine percent
yeah things are getting expensive while the middle class wages are dropping
if you want to buy a house the medium home list price is about 550 000. that
means you need about 110 000 for your 20 down payment for your
mortgage it's brutal in california not as bad as
some of the others on this list but it's got a lot of other issues beyond
money number six rhode island rhode island is
the smallest state and most people not from that part of the
country often forget it's there the most common response when someone
just got done reciting all 49 states they say oh yeah and rhode island
it isn't good to be in the middle class in the ocean state the five-year change
in middle class income has fallen 6.7 now their in-state tuition
in that same amount of time five years has risen almost 20 percent
that means on average you're paying just over 13 000 to go to school in the state
as a resident if you're thinking about buying a house
the median listing price is 324 000 that means you got to have about 64
000 as a down payment for that mortgage it's rough and little roadie number five
alaska alaska has always had a solid working
middle class it has always been a place for people
that love nature like cold weather want to avoid lawyers and are sick of
the rest of the united states for the most part the cost of living
in alaska is high because almost everything needs to be shipped there
i was in seldotna last summer the grocery stores there
have 2030 prices right now in 2020 it's getting harder to be a middle-class
person in alaska middle class and below i should say the
five-year change in middle-class income has dropped 7.33
now the house prices there aren't terribly expensive on average the median
listing price is only 288 000. but the five-year change has been up 12 so
your 20 mortgage down payment's gonna be a
little over fifty seven thousand dollars number four hawaii hawaii has always had
a crazy high-cost living much like alaska everything's got to be
shipped there well everything but pineapple macadamia nuts and hawaii they
got other things but those are my favorites
i just read that a greek guy in canada was the first one to put pineapple
on pizza you'd think the hawaiians would have figured that one out a long time
ago they have a big meeting on the beach how do we get the haoles to eat more
pineapple one of them goes we put it on pizza
that's all they eat there and then they're oh that's disgusting no one ever
eat pizza with pineapple on it get out of here
that's gross the five year change in the middle class income has dropped 7.8
percent in hawaii at the same time the five-year
change in the median home value is up 26 you got to come up with 126 000
on average for your down payment for a house in hawaii it's expensive there
the monthly mortgage payment in hawaii this the average
okay it's two thousand four hundred and fifty dollars there's places in indiana
where the average mortgage is four hundred dollars
number three new jersey the garden state is known for a lot of things
beautiful land turnpikes tony soprano and toxic waste dumps affectionately
referred to as superfund sites new jersey has just under 9 million
residents and almost 5 million of them are considered middle class blue collar
hardworking people that use the f word far too much and say things like get out
of my face before i smack it it is expensive to live in new jersey
they are always in the top 10 most taxed states out of any list you
could find they always have the highest taxes not the highest but
they're always up there in the last five years the middle class income has
dropped 8.57 at the same time tuitions at the local
colleges have gone up almost 12 percent your in-state tuition
is gonna run you somewhere around fifteen thousand dollars
a year the property tax in new jersey is two point four four percent
number two massachusetts the baked bean state is
expensive cape cod and boston help drive up the state's cost of living
in a big way people are still moving here though that's what's really neat
they have never had one decade where they actually lost
people massachusetts has always been growing since the
1800s census most middle class people are getting out of boston these days
they're moving into towns and suburbs around
the city and just trying to have a better life it's just gotten far too
expensive in boston for most middle class people the five-year
change in the middle class income it's dropped 9.36 percent almost 10
percent getting closer meanwhile housing prices have gone up
almost 30 percent if you want to get in a house in boston
with their average listing price being 468 thousand dollars you gotta have
somewhere around ninety three thousand for your twenty percent mortgage down
payment property tax in massachusetts is one point two two
percent yeah they're giving a good squeeze to
the middle class in massachusetts and number one new hampshire new
hampshire is a great new england state it's called the
granite state and has some of the best landscapes you can find in this country
it also appears they're trying to scare their middle class into moving to canada
at which point i imagine they'll realize it's about the same as new hampshire and
settle in north dakota and argue with prairie dogs or something
in the last five years the middle class income has plummeted
12.27 in new hampshire that's gross property
tax here is 2.2 percent which again is pretty rough compared to everything
else in the nation the median home value is up 31 now you got your income
dropping by 12 and then home prices are going up it's
like nobody will be able to buy a home here at this rate but home
ownership right now is 75 considering most the places on this list
it's hovering somewhere around 60 percent so that's kind of strange if
you want to get a house in new hampshire your down payment for
your mortgage is gonna be somewhere around sixty
thousand because the median home listing price
is about three hundred and five thousand
all right that's today's video i hope you guys enjoyed it hope you got some
information out of it uh tell me what you think about living
in these states are they getting too expensive for you if you're middle class
or any class do you see that the prices are
going up on everything i mean even before the
pandemic anyway don't forget to leave me a
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