Originally Posted by
cycleobsidian
This is absolutely a major reason why young people can't afford a car. That, and the fact that fewer people, even those with university educations, will get very well paying jobs. Once they pay their rent, food and student loans, all they have money for at that point is a cool i-phone.
That's true. Where I work, we have employees with bachelor's degrees from Harvard and Stanford, plus one with a master's degree in computer science. All three were hired for entry level jobs with starting pay rates of $10-12/hour. This is in an area with one of the highest costs of living in the US.