realdealreel9 t1_ja84os9 wrote
Reply to comment by yamaha2000us in Young generations tend to judge or pity for old generations but the fact is that the later are apparently happier, less anxious and more content with what they achieved or failed to. by red-ed
You actually think that access to credit that Gen Z has is the reason they can’t afford rent or a mortgage on a now wildly priced home? Lmao
People can’t live within their means because corporations prioritize endless growth and profits over paying people more. Meanwhile landlords live off the back of this labor, all the while shrugging that it’s just the market as they steadily raise rents and grow their empires endlessly. Corporate/landlord greed is what keeps most people constantly struggling not the fancy coffee they buy every once in a while w their credit card to feel something other than hopelessness about their financial prospects (to say nothing of the environmental destruction this same greed is exacerbating—see the train derailment in Ohio for example).
yamaha2000us t1_ja8a6y7 wrote
One of the common questions that comes up in r/personalfinance is how to budget.
A common responses is, please provide your monthly income and all of your expenses.
Then we can explain what is wrong with their budget.
There are always spending issues and sometimes the answer is get a second job.
I have worked second jobs and this has allowed me to get a head.
We call it the side hustle, it has allowed some of us to buy that house, car, have children and live comfortably within our means.
KungThulhu t1_ja8byum wrote
okay boomer.
yamaha2000us t1_ja8fu12 wrote
Not a boomer.
KungThulhu t1_ja8gdml wrote
Then why are you trying to act like thigns arent significantly and factually more expensive and dire than in the youth of boomers?
yamaha2000us t1_ja8i55v wrote
Until someone starts providing actual statistics that are tied to the resolution, there will be pushback.
Using terms like “crippling”.
My home sells 3 times that value than I paid for it.
My salary is 2 times the salary of when I paid for it.
The same thing happened to the boomer generation.
KungThulhu t1_ja8j6j9 wrote
>Until someone starts providing actual statistics that are tied to the resolution, there will be pushback.
https://dqydj.com/historical-home-prices/
https://www.usinflationcalculator.com/inflation/historical-inflation-rates/
https://www.weforum.org/agenda/2019/04/50-years-of-us-wages-in-one-chart/
​
>My home sells 3 times that value than I paid for it.
My salary is 2 times the salary of when I paid for it.
What? those sentences both simply do not make sense and i dont know what youre trying to say.
yamaha2000us t1_ja99i46 wrote
Here is a different viewpoint about home prices.
https://www.cnbc.com/2017/06/23/how-much-housing-prices-have-risen-since-1940.html
As for inflation. The prices of a home is not controlled by inflation but by supply and what people are willing to pay.
Your wages only go back to the 1960's. You need to go back further as to understand what has happened to the Nuclear Family.
Prior to the 60's, women were an auxiliary workforce. Once the Student Loan Program kicked in, more women got degrees and joined the working world. In essence the earning value of a family increased by at least 1/3. The ripple of this is being felt to this day.
My parents were boomers.
I am Gen X. Since both parents worked, I was raised by my Grandparents.
After Gen X, the grandparents had not retired so all age levels are working. So now there are additional expenses for a family
such as daycare etc...
Which created more income.
Which created Higher Prices.
Anyone who throws out the word "Boomer", is parroting buzzwords...
What exactly can you hold the boomer generation accountable for something that was never in their control?
KungThulhu t1_ja9bhff wrote
All youre saying is a major cope. i gave you the sources and you talk about something different.
yamaha2000us t1_ja9egqm wrote
I gave you sources that challenged your sources.
It's actually how I learned to Cope.
The extra was a gift. There have been quite a few studies about that additional information. Its impact of a dual income family was huge to the economy. It has nothing to do with the Boomers. But its more comfortable to throw the buzzword on the table.
1940's economy. 1 income all classes of workers in the same boat.
1960's economy. 1 income all classes of workers in the same boat. Creation of the Educated Middle class.
1970's economy. 2 incomes people are able to purchase more.
1980's economy. 2 incomes people are able to purchase more.
1990's economy. 2 incomes people are able to purchase more. Younger generations creating bidding war and creating property ladders. Non-educated class removed from the American dream. Educated Class is OK.
2000's economy. All generations working. Younger generations still creating bidding war and creating property ladders. Boomers are out. Non-Educated Lower class are ignored by the Educated Class.
Now... The educated class can't get past what all of the prior generations have done since the 1970's.
Coping is a mechanism all generations must learn.
KungThulhu t1_ja9f3sw wrote
>I gave you sources that challenged your sources.
No you gave me a link to an opinion piece while i gave you links to hard data that cant be argued with. You simply cant admit youre wrong so you try to chnage the subject but i dont care for that.
yamaha2000us t1_ja9pkdf wrote
Just because your links support you position does not make them any more or less qualified than mine.
I don’t have to admit that I am wrong when I have proof of my position. You have to refute my sources.
KungThulhu t1_ja9pxpu wrote
they are data provided by the government idiot. your "source" is an opinionwritten by someone with noe experience or qualifications abotu the topic.
yamaha2000us t1_ja9qphj wrote
Only the last one quotes a US government source and it doesn’t go back to the 40’s which is less than the scope that I am addressing.
Which means I have hit a nerve as you are now throwing insults in the conversation as opposed to refuting my sources or responding to my challenge of yours.
KungThulhu t1_ja9r5mj wrote
im insulting you because youre a fucking dumbass and the conversation was over the moment i gave you sources and you just didnt accept them.
yamaha2000us t1_jaa4yc5 wrote
But I provided sources and don’t feel the need to be insulting.
It’s like you fire all of your bullets and missed the target every time.
KungThulhu t1_ja8xsly wrote
so i give you the sources you want and now you wont respond? Almost like you realised i was right.
yamaha2000us t1_ja96et1 wrote
What sources are you talking about?
KungThulhu t1_ja9bbaq wrote
The ones i linked literally one comment above.
realdealreel9 t1_ja8czzq wrote
It’s like we are having two different conversations. Oh well. Nothing to see here but record profits and trying to make it all about personal responsibility and the side hustles (lolol) of the underpaid while the rich get richer. Absolutely some people spend irresponsibly. But you are seriously deluded if you think this is the only issue. It’s weird frankly, like you got yours and so you can’t even fathom that there are these other factors when clearly people just need to eat out less and get a second or third job.
Afrimeca t1_jacu79u wrote
Please stop arguing. People understand the flaws of society for the current generation and downvoted you because you failed to provide an accurate solution for what the guy above you was saying. Please get help and pray for forgiveness.
yamaha2000us t1_jacw22o wrote
Solution?
This is shower thoughts. There are no solutions here. Just exchange of ideas.
As for the complaints about prior generations.
The generation prior to the Boomers fought in A world war.
The generation. Prior to that lived thru the depression.
2 generations prior to that, people were stealing land from the native Americans.
The current generation is just as accountable for their actions as prior ones.
Dinklemeier t1_ja8bp9f wrote
Yeah no one likes hearing that its a you problem not a them problem. I love buying stuff so i work a lot and therefore dont have to budget. Most people could save a bit of they tried, but its more fulfilling to bitch that they dont make enough.
My wife has 3 kids. Survived before we were together making 65k a year with zero financial support from the baby daddy. Now she lives free of rent ($2k/mo at her old appt) but can barely save anything. Theoretically she now has $24k of after tax money she should be saving. Magically though, she has almost none. Gee whiz. Cant possibly be a spending problem now that she has less financial pressure can it?
KungThulhu t1_ja8h9jk wrote
this is about the majority of young people nowadays genuinely and factually not being able to ever own any sort of place to stay, not being able to pay for families while inflation is constantly rising. If you can pay rent and live in this environment then you are more wealthy than most 20 year olds today. Thats not a joke or an exaggeration. This isnt because they buy lattes its because prices are rising while wages arent.
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