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re: Great YT video "How the US Is Destroying Young People’s Future"
Posted on 5/7/24 at 9:17 am to jclem11
Posted on 5/7/24 at 9:17 am to jclem11
quote:young people aren’t supposed to be buying homes in the median.
75% of the population does not earn a high enough wage to afford the median price house in most areas of this country.
1
Posted on 5/7/24 at 9:19 am to llfshoals
quote:
People eat out constantly, didn’t do that then. People used to put that $15 a month into savings they now spend on Netflix, MAX or something similar.
You're right. If people would just save those $15 a month, they'd be financially set. It would only take them 55 years to get to 5 figures in savings. Of course, by the time 55 years goes by, that 10k they'd have saved would be enough to buy a loaf of bread thanks to inflationary principles.
Posted on 5/7/24 at 9:20 am to DrrTiger
quote:
You expect these snowflakes to cook their own food?
Yeah, since groceries haven't exploded in price or anything....
Posted on 5/7/24 at 9:21 am to tiggerthetooth
quote:
Keep up your mockery. It's so indicative of what your generation is, the childishness, shortsightedness, the total disconnection from laying down any legacy to follow.
That’s rich. You blame every single challenge in your life on the perceived failures of previous generations to set you up for easy street and then get pissy when any self reflection is suggested. “Why don’t you careeeeee about ussss?”
Not sure who told millennials that you deserved some type of fantasy life with zero hardships, but they certainky did y’all a huge disservice. I’ll give you that.
Posted on 5/7/24 at 9:22 am to JiminyCricket
quote:is your position that eating out is more affordable than cooking meals at home?
Yeah, since groceries haven't exploded in price or anything....
Posted on 5/7/24 at 9:22 am to tigerfoot
quote:
young people aren’t supposed to be buying homes in the median.
I was talking about the general population not just young people.
Quick Google search shows median household income of $70,789 in HTX and median home price of $314K.
That is completely out of whack, which is what has been repeated ad nauseum in this thread.
Why are you trying to argue against facts and reality?
This post was edited on 5/7/24 at 9:29 am
Posted on 5/7/24 at 9:22 am to lsupride87
quote:
Pretty much the only culture shifting from the age old principle of leaving wealth and life better for your children is white western citizens
Muslims, Asians, eastern whites etc still beleive in it. Something happened with the older white western civilIed society where they beleive you should spend it all and the children are to fend for themselves
Good news is Millenials with all their faults have pivoted from that selfishness. They spend more time and money on their kids than their parents generation
I've lost hope in alot of these folks to be objective. Even when I present them with the cold, hard math, they still refuse to accept that the financial policies of today make it much harder to get ahead than the policies they lived under.
Posted on 5/7/24 at 9:23 am to llfshoals
quote:
Why is it harder? Seriously. You’re not thinking about why.
Take 5 minutes and look at your monthly bills, then realize how much you have going out that simply didn’t exist for someone raised in the 60’s or 70’s.
In order to properly function in today’s society and be gainfully employed you need a cell phone and internet at a minimum. If you have a car, you’re now required to have car insurance which has only gone up. Health insurance has risen so strikingly fast since Obamacare was passed that medical bills for basic check ups are outrageous. So yeah, we agree that there are just so many more bills now that didn’t exist in the 60’s, 70’s, and 80’s.
quote:
People eat out constantly, didn’t do that then
Agreed. This is an actual huge source of spend for a lot of people and is completely discretionary.
quote:
People used to put that $15 a month into savings they now spend on Netflix, MAX or something similar. Probably both and some others as well.
Again, discretionary and I agree. But let’s not kid ourselves and say that because someone is paying for Netflix that they can’t afford a down payment on a house. I know it all adds up, but that extra $100 a month for internet, $200 a month for car insurance, and $300 a month for health insurance add up way the frick more quickly than the little things. All of which were SIGNIFICANTLY cheaper as a % of income 30 years ago
Posted on 5/7/24 at 9:24 am to tigerfoot
quote:
is your position that eating out is more affordable than cooking meals at home?
No, my position is that cooking meals at home use to save you exponential amounts of money and inflation relative to groceries has shrunken that gap significantly.
It's the same point I've been making through the entire thread. Cooking meals at home, which a lot of young people do now for health reasons, used to generate a higher return for your monthly cash flow than it does today.
This post was edited on 5/7/24 at 9:25 am
Posted on 5/7/24 at 9:24 am to DrrTiger
quote:
Not sure who told millennials that you deserved some type of fantasy life with zero hardships, but they certainky did y’all a huge disservice. I’ll give you that.
No millennials are asking for no hardships. We are showing you the data that it is much harder starting out now than when you were starting out. That's all.
Your jimmies are so rustled and defensive about this simple fact.
Posted on 5/7/24 at 9:25 am to Oilfieldbiology
quote:Groceries as a percentage of income are also the highest it’s ever been. So…..
Agreed. This is an actual huge source of spend for a lot of people and is completely discretionary.
So the young person today that eats every meal at home is worse off than the gen x or boomer that did the same
This post was edited on 5/7/24 at 9:26 am
Posted on 5/7/24 at 9:25 am to lsupride87
quote:
Muslims, Asians, eastern whites etc still beleive in it. Something happened with the older white western civilIed society where they beleive you should spend it all and the children are to fend for themselves
Even celebrities now are practically celebrating the fact that they're not leaving their kids any inheritance. I don't actually believe that's true and the real inheritance is the network and resources they've experienced as they've grown up.
Bill Gates famously said he'd leave no inheritance for his kids yet his kids have clearly all passed through elite educations and established all the networks Bill curated.
Oh and his foundation bought his daughter a $40 million apartment in a Manhattan building that is also occupied by other celebrities and she married a guy who's family is worth over $100million.
The elites are saying one thing and doing something else entirely while the middle class boomers are taking these things completely to heart and saying "frick the kids, buy your house somewhere else. THIS NEIGHBORHOOD IS MINE!!!"
This post was edited on 5/7/24 at 9:26 am
Posted on 5/7/24 at 9:26 am to jclem11
quote:Remember, that poster believes that purchasing a $200k 500 sqft apartment is a wise financial decision for someone just starting out.
Your jimmies are so rustled and defensive about this simple fact.
Posted on 5/7/24 at 9:27 am to tiggerthetooth
quote:
The elites are saying one thing and doing something else entirely while the middle class boomers are taking these things completely to heart and saying "frick the kids, buy your house somewhere else. THIS NEIGHBORHOOD IS MINE!!!"
Wiki - Luxury Belief
Posted on 5/7/24 at 9:27 am to DrrTiger
quote:
That’s rich. You blame every single challenge in your life on the perceived failures of previous generations to set you up for easy street and then get pissy when any self reflection is suggested. “Why don’t you careeeeee about ussss?”
Not sure who told millennials that you deserved some type of fantasy life with zero hardships, but they certainky did y’all a huge disservice. I’ll give you that.
And you ignore the basic math because you're married to a narrative.
Posted on 5/7/24 at 9:28 am to lsupride87
quote:
Groceries as a percentage of income are also the highest it’s ever been. So…..
I agree. It’s still better financially to cook and eat at home than to order takeout.
quote:
So the young person today that eats every meal at home is worse off than the gen x or boomer that did the same
I know that and I haven’t argued otherwise. I’m just simply stating that it’s still the best financial decision available.
This post was edited on 5/7/24 at 9:29 am
Posted on 5/7/24 at 9:28 am to tiggerthetooth
Old people should celebrate the ability to make life easier for their offspring and youth. It’s a huge mark of accomplishment. Western whites for whatever reason have been taught to do the opposite. They talk and bitch about government wanting to control everything etc etc, but they are playing right into that plan….
Posted on 5/7/24 at 9:30 am to lsupride87
quote:I’ll post this again.
Old people should celebrate the ability to make life easier for their offspring and youth. It’s a huge mark of accomplishment. Western whites for whatever reason have been taught to do the opposite. They talk and bitch about government wanting to control everything etc etc, but they are playing right into that plan….
There is a Greek proverb:
A society grows great when old men plant trees in whose shade they shall never sit.
The Boomer’s took that quote to heart, chopped all the trees down, and then demanded to know why the younger generations are bitching.
“Just plant more trees!”
Posted on 5/7/24 at 9:31 am to Oilfieldbiology
quote:
I agree. It’s still better financially to cook and eat at home than to order takeout.
That gap between what could be saved by eating at home back then and what can be saved now is much, much smaller.
When you do the math, from a financial perspective, blaming eating habits for the inability to get ahead for young people is like stitching a facial gash while ignoring the bullet wound in the chest. Not to say the facial gash shouldn't be addressed but the amount of blood saved by getting your face sewed up will never keep up with the loss from the chest wound.
Posted on 5/7/24 at 9:33 am to llfshoals
quote:
People eat out constantly, didn’t do that then
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