Throughout the rich world, the young are falling out of love with cars
The young are falling out of love with cars because they&#x27;re unaffordable. It&#x27;s as simple as that. It&#x27;s yet another sign the standard of living is declining for the young.<p>The average new car price in the U.S. is now over $47K (Consumer Reports). I make a good living and <i>I&#x27;m</i> not going to pay that kind of money for a new car! A young person would be <i>stupid</i> to pay that kind of money for a car.<p>Okay, so what about used cars? The average used car price in the U.S. is now over $28K (KBB). That&#x27;s more than I&#x27;ve ever paid for any new car I&#x27;ve ever bought!<p>What does that look like for a monthly breakdown? The finance costs for $28K is $525 per month.  The average car insurance is $130 per month (US News). The average fuel costs are $100 per month (1,000 miles per month, 35 MPG fuel consumption and a fuel cost of $3.50 per gallon). Finally, the average maintenance costs are $25 per month (Consumer Reports). That cost goes up as the car gets older and doubles after the car is 10 years old, according to Consumer Reports.<p>Add it all up and that&#x27;s $780 per month. Now ask yourself, with those costs are you really surprised to hear the young are falling out of love with cars?