- Nick Maggiulli argues the "upper‑middle‑class trap": households earning roughly $200K–$400K work more to compete for positional goods (bigger house, private school, premium travel) that are getting pricier and often lower quality; AI adoption is intensifying the race.
- A separate analysis found the "American Dream" now costs over $5 million (2025), with homeownership the top barrier—58% cite high house prices—making two college‑educated earners increasingly necessary.
- Critics note incomes and the share of upper‑middle households have risen since 1979, but wage gains haven’t erased wealth inequality or the feeling of falling behind—a "signal failure" where people compare themselves to ever‑higher standards.
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