re: How can the average person afford to live?

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We’ve only been talking about a single sector of the economy, housing, and you’re the one who keeps saying this is nothing new.

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A Rational adult would understand what “nothing is different” meant in this context. I mean we’ve been telling you about some things that are different - median home is 50% bigger, has loads more amenities and much higher end finishing compared to 30-40 years ago, so the suggestion everyone that doesn’t buy into your victimhood does not realize things aren’t 100% the same as they ever were is inane.

What you should have understood “hasn’t changed” from the opposing view is that housing is cyclical, and your generation isn’t confronting circumstances that set it apart and make it a class of victim on a historical level.

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Evil people are actively working to deny younger generations the opportunity to own a home.

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More boogeymen, huh? Your poor generation. How will you survive the boomers and evil people?

I’m not a fan of BlackRock or their delving into the residential real estate market. Not because it’s evil, but because when the market drops like it definitely will (it’s cyclical), those frickers will be bailed out again by us - can’t have residential real estate drop too much so here’s $3T for BlackRock to bail their investment out.

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People today don’t have the same opportunities that their parents did and instead of facing that fact, you call it whining.

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I call it whining because it’s whining and also untrue.

What makes you such an expert on how things were 50 years ago for young adults? How do you know frick all about opportunities 25 yos had in 1980?

Another question - you’re told by the Left how bad you have it. The media and universities have filled your brain with information/statistics (so-called) that have convinced you that you’re a victim. Why do you think this is the one instance in the last 25 years when they’ve been honest? Every fricking narrative they’ve floated this century has been utter bullshite - WMD, racism everywhere, climate change is going to kill us all if COVID doesn’t kill is first. Why do you think “you frickers are victims, your life sucks and you have a bleak economic future, so you need government to take care of you” - this is the one time their narrative is legit?

bootstraps

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You still don’t get it because you don’t have the ability to look beyond your own personal experience.

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You realize his experience is multigenerational?
Is yours?

If your point is that housing is expensive right now, that's fine. It is. By the same token, home ownership was relatively cheap 3 to 4 yrs ago. Correct? That was the time to step in.

But for younger folks not particularly enamored with "growing up," getting married, or starting a family, renting a singles-pad in a "happening" location, or living with Mom&Dad in 2019 had far greater appeal than sacrificing to buy a home.

Now younger folks who electively prioritized non-investment spending (a reputational millennial hallmark) over frugality, savings, and home ownership, suddenly find themselves on the outside of the housing market looking in. The same thing is undoubtedly true of other investments as well.

Opportunities Lost =/= No Opportunities.

When you attempt to claim that there was no opportunity for ownership, you'll find you garner little empathy form those of us who do have the ability to look beyond our own personal experience and examine those claims.

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Let's take this back 10-15yrs and examine what was to prove a trend for Gen-Y.

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f the majority of the country goes into debt and can't pay it, what happens?

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The entire Financial Segment of the US Economy is built on in a model that features 3% default. Kinda like taxes used to be collected from some to pay for all (now the Fed just issues new IOU’s rolling the old into the new and taxes only matter as a form of social control at the National level). It will all crash at >3% delinquency. Doesn’t matter whether you are talking RE, auto’s, cards, or even payday loans.

Lenders under 3% total delinquency are considered “missing opportunities “ and those over 3% are being “too lenient “. These are the monthly, quarterly, and annual goals for every office and the corporations as a whole. Stock values reflect such and realize too that the insurance industry is behind most of the lending (taking your premiums and then making loans reserving only a minimum principal to cover the insurance claims).

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Wrong, millennials are worse off than their parents, a first in American history.

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No they aren't.

See how easy that is when you provide no substantiation?

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13% is probably accounted for by upgrades in amenities and finishing.

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I'm sure it is, and if it's not, the difference in interest rates certainly accounts for it.

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Wrong, millennials are worse off than their parents, a first in American history.

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Let's get into specifics.

More high school graduates go to college now than in 1980. Every racial group increased that percentage. Blacks and Hispanics by over 6%, whites by almost 13%.

Now, in 1980 there were no degrees in Lesbian Dance Theory, so the failure of younger kids to parlay a college degree into a meaningful career comes into play, but keep in mind that they didn't do away with useful degrees, they just added the obvious waste of time degrees. You can still choose something that will make you money if you want to, even in 2023.

So educational opportunities goes to young people in 2023. And BTW, the narrative that higher student loan debt keeps young people from buying homes isn't based in fact either. Here's a study that correlated higher student loan debt with higher rates of home ownership, not lower. Higher

In 1980 the average age to get married was 25 for males and 22 for females. Now it's 30 for males and 28 for females. So that's 5-6 years worth of two-income buying power that is foregone. For the average salary, that's about the cost of a downpayment on a house, isn't it?

The % of 40 year olds who have never been married has more than quadrupled, from 6% in 1980 to 25% in 2021. So a quarter of the younger population is forgoing that two-income purchasing power indefinitely, if not forever. And that's people who are at least 40. Among the younger crowd, 2 in 5 say they feel that marriage is outdated and do not plan on ever getting married. So that number could look more like 40% in a decade or two.

Urban population is at 83% nationwide in 2023.

Here's an article about young people choosing to rent rather than buy: Choices

Here's another one: Would Rather Travel The World Than Buy A house

Seems to me that young adults just have different priorities.

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I call it whining because it’s whining and also untrue.

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Ok buddy.

Young people today are living through their own government trying to destroy the middle class and make everyone lifetime renters, but you had it worse because you had linoleum floors. You see how that makes you a huge pussy?

So you do regret that vote for this current admin?

Maybe you will remember that come 2024

I am an educator who makes ~50k. Have an incredible deal on rent. Truck payment is under $500. I do have some cc debt. But after all my bills I have like $700 of food and spending money. Which pre Covid was a lot. Now getting food for the week is almost $75 and that is at the grocery store being frugal. Living on 1 income is a pain in the arse.