My two teenage daughters and I recently went to Target to pick up a few things they needed.

We grabbed basics – underwear, bras and a couple tubes of mascara – plus a dress and a pair of sandals for each of them. I added a few groceries.

Target isn’t exactly expensive, but the total still came to about $300 – roughly a quarter of what I spend on groceries and cleaning supplies each month. The girls gasped and said thank you. Later, I returned some items. It felt like too much.

That moment isn’t unusual. Since 2020, the cost of everyday life has climbed – groceries, clothes, basics that didn’t use to feel like splurges. People across income levels are feeling it.

The question is what that means for the American dream, and whether it’s still within reach.

Americans are worried about basics

A March 31 Gallup poll found that 61% of Americans worry a lot about health care costs, and that half worry about the economy, inflation and federal spending.

Housing costs have surged. The median home price is now $408,800, up 1.4% from a year ago – and the 33rd month in a row prices have........

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