My good friend Robert Stacy McCain recently wrote about an article in Jezebel which claimed that normal men were going “unpartnered” because women’s “relationship standards” had been raised. Women might be willing to occasionally copulate with said lonely guys, but they weren’t really interested in anything more serious. I found the math strained, because unless you include homosexual males, the very people who ought to be excluded in an article about how normal men are having more difficulty finding women with whom to have serious relationships, the number of “partnered” men ought to equal the number of “partnered” normal women. Given that women slightly outnumber men, and that women live longer than men, the math Jezebel cited just doesn’t work out.

I was reminded of Mr McCain’s article when I read this one in The Wall Street Journal.

Inflation Widens Married Couples’ Money Lead Over Their Single Friends

Rapidly rising prices and more than two years of living in a pandemic increase the financial stress on those without pooled assets

by Julia Carpenter | Tuesday, August 16, 2022 | 7:14 AM EDT

It is better, financially, to be married than single, as has almost always been the case. But the money gap between young married couples and singles has widened, thanks to inflation and rising home prices.

The median net worth of married couples 25 to 34 years old was nearly nine times as much as the median net worth of single households in 2019, according to the most recent data from the Federal Reserve Bank of St. Louis. In 2010, married households’ median net worth was four times as much. And now, after a spell of rapid inflation and more than two years of pandemic living, single people are getting left further behind, say economists at the Fed and elsewhere.

“This 25-to-34-year-old age is a time of transition, it’s a time of household formation, and I think it matters whether or not you can pool your financial resources with someone else,” said Lowell Ricketts, a data scientist for the Institute for Economic Equity at the St. Louis Fed.

Married people are being tested by inflation, too. It is just that they have a larger, shared cushion, often with two incomes and pooled assets. They hold a greater concentration of wealth and considerably less debt, according to research from the St. Louis Fed.

Having combined assets was particularly helpful over the past decade as many households’ wealth was compounded by rising housing prices and a strong stock market.

As people marry later, the number of sole-person households is growing, which means more single people are tackling multiple financial challenges entirely on their own. Over the past four decades, the number of sole-person households has nearly doubled, according to data from Freddie Mac. And by delaying marriage, many now struggle to access money milestones at the ages previous generations achieved them.

The article continues to tell us the woes of a 27-year-old single woman in Columbus, Ohio, who recently got a raise, which is allowing her to start saving a bit, but, for her, home ownership is still out of the question. The Journal’s photo of her slicing zucchini in the small, cramped, and cluttered kitchen in her rental apartment says a lot: she has a roof over her head and food on her table, but she’s still living a fairly modest lifestyle. To relate this to Mr McCain’s article, I will note that the woman in question does not really meet contemporary standards of physical attractiveness.

Further down:

When it comes to building wealth via homeownership, finding a smaller starter home—once the gateway for single people becoming homeowners—remains especially difficult as prices remain high, say economists. Housing affordability in June 2022 hit its worst level since June 1989, and home prices are up 44% over the past two years, according to data from real-estate brokerage Redfin Corp. With housing prices so high and starter-home inventory so low, more single people are struggling to find affordable houses to buy.

So, what happened in 1989? An economic downturn happened, a housing market crash. Interest rates soared again, and housing prices had to fall, or houses just wouldn’t sell. An economic downturn which eventually cost the elder George Bush the presidency in the 1992 election. We saw the same thing in the early 2000s, as housing just plain skipped the 2001-2 recession — I was amazed at how much concrete we were selling for homebuilding even as the unemployment rate soared — but the sub=prime mortgage lending market collapsed in 2007-8, and people who had bought during the bubble, with adjustable-rate mortgages were defaulting at record paces.

I can see something similar in the not-too-distant future.

The Journal article continues along the theme of singles, and primarily single women, being priced out of the housing market.

This is where married couples have one of their largest advantages. Applying for a mortgage, these couples can work together to create an attractive application as well as amass the necessary money for a healthy down payment.

Single women face additional hurdles to generating wealth.

The gender wage gap begins to widen as early as three years after college graduation, a Wall Street Journal analysis found. Women also live significantly longer than men, which puts added pressure on them to finance their retirement years solo.

“These are scary times for anyone, but they’re particularly scary times, I think, for the reasons we have cited, for single women,” said Jill Gianola, a financial planner and the founder of Gianola Financial Planning.

This, you see, is the problem: social customs may have changed, customs which no longer have others asking, “What’s wrong with him?”, or her, if they don’t get married by the time they’re 22. But economic laws aren’t #woke, economic laws don’t care that you want to party hearty until you’re thirty. The reality of economics and the passage of time mean that if you are delaying adulthood, you are also delaying your economic advance. It might be more fun to take your whole paycheck and spend it wastefully, but those are years in which you should be building your career and setting yourself up for financial success later in life.

There was more in the Journal article, this time about a married couple, a couple which appear to have married a bit late, but one which were able to work out the husband’s pre-existing $10,000+ credit card debt by virtue of being serious and by the fact that they were paying for one residence for the two of them. When economic problems arise, there are two of them to work things out.

The way people behaved in our economy and our society in the 1950s might seem just horribly, horribly old fashioned and just not with it, but the simple fact is that they worked for people, because they made economic sense.