#juan said:
What we seem to be doing is obliterating the middle class.
This is a gross exaggeration.
However, disparity in wages between the high and low income classes are rising. And probably will continue for some time.
Also, wages have been stagnant while inflation has almost certainly been understated. On the upside, housing prices have risen extraordinarily, and most middle class people own their own homes. On the downside, household debt as a percentage of income has also risen.
So the middle class is being squeezed a bit but its wrong to say they are being "obliterated", since obliterated means "wiped out".
I don't know if homelessness is on the rise. Would someone like to provide a link?