This is a rehash of the vibecession debates but median household income adjusted for inflation hit a record in 2024 (2025 data will be released in September). It’s just *not true* in any objective sense that people don’t have money anymore. It may *feel* that way but that’s different from reality.
My take is that people don't have money anymore. Jobs that used to make decent money no longer do so. Healthcare and rent are unaffordable.
Everything costs way too much.