Honestly, the clock is ticking on these talking points. I give them another 2 years and then bye bye…. Done forever. This wild adjustment period of going from decades of comfort to all Zoomers being expected to pretend modern Hunger Games is normal is out the window. Cash in while you can, because when it ends with continued bottled up resentment, major waves of policies will come and you’re not going to like it.
I don’t know if anyone noticed, but any company with mostly young workers runs circles around companies mostly controlled by Boomers. They’re slow, toxic, refuse to change adapt, bad with technical details and have very poor risk management considerations.
Gen Z might be “lazy”, but when they actually care, they effortlessly run circles around everyone in finance and tech.
This might be the most terrifying chart in real estate.
Median household income: $85,000.
Income needed to buy the median-priced home: $123,000.
That's a $38,000 gap - 45% MORE than the median household.
For decades, home prices and incomes moved together. Then we broke the housing market.
Now we're expecting the next generation to buy homes their incomes can't support.
Who exactly is supposed to buy all these houses?
The math doesn't work. And math always wins.
If everyone becomes homeless, you could hand me the most powerful devices with AI, and it still won’t offer me food, a roof over my head, or ability to escape the growing violence and crime within the streets. Chances are I won’t even have an outlet to plug it in.
Young Americans are getting poorer, while the oldest are getting richer, per new Federal Reserve data.
Household wealth rose 37% for Americans 75 and older, but fell 23% for those under 35, as The Wall Street Journal reported.
My nephew works 45 hours a week doing apprentice HVAC work in Indiana. Let me run his numbers.
He makes $19 an hour.
With overtime, he grosses about $3,600 a month.
After taxes, fuel, and tool deductions, he takes home $2,700.
Rent for a basic apartment: $1,400.
Work truck insurance & fuel: $420.
Groceries and basic utility bills: $550.
He has $330 left over to save for a home, buy clothes, or cover an emergency.
Bro is putting in physical labor 5 days a week, repairing heating units for people living in $500k houses, and can't even qualify for a home loan himself.
Thirty years ago, learning a trade guaranteed a middle class life with a yard and a garage. Today, it barely buys a 1 bedroom rental with a parking spot.
We didn't lower our work ethic.
They raised the price of basic existence until hard work only pays for shelter.
You’re creating a false reality in your head and want me to honor it and be grateful?
What you just described is on average more akin to GenX and Millennial parents to their kids at the moment.
And even if boomers did those things in rare cases, so what? You leave the future generation with decaying opportunity for your 401ks to skyrocket, you should help them a little longer, especially when they followed all your advice and it can’t even get them an entry level job.
“Socialism” is the Right’s “racism”.
They see it everywhere and anywhere.
They see it in their sleep.
What they don’t see ever, is crony capitalism for the wealthy, which is ironically (everywhere).
I am saying this goes beyond Right vs Left, its a GENERATIONAL ISSUE
Gen X got screwed by Boomers
Gen Y (Millennials) got screwed by Boomers
Gen Z got screwed by Boomers
Gen Alpha is being setup to get screwed by Boomers on their way out
Take note that regardless of party be it DEM or GOP that BOOMERS hold the vast majority of the wealth.
The DEM party is pushing the Socialism narrative which is misleading at the very least, and the GOP wants to maintain the Boomer status quo.
It's not even the redistribution of wealth that people actually want, its the ability to GROW with the grind.
Make no mistake Trump is a boomer, he is loved by conservative boomers. Bernie Sanders is a boomer, he is loved by liberal boomers and a number of younger people. Both of them have MORE MONEY & PROPERTY than BOTH of us in this discussion combined, even removing Trump from the equation Bernie Sanders still has more money and assets than both of us do.
2 Sides of the same coin, both selling lies just differently. This is why the GOP lost like it did, people do not have faith in it, so why not try the other party, is the reasoning.
The first administration to actually tackle the homeownership and cost of living is going to set the benchmark for the next decade of politics at the minimum.
The problem is they think socialism will guarantee them a home, less debt, and a better quality of life.
People that have lived under socialism/communism know that is a lie.
The core of the issue is that capitalism today is crony, and corrupt to the point where home ownership is unattainable for 2 different generations and even the millennial generation is struggling in their early 40's to early 30's.
The Millennial generation had to endure the brunt of the 2008 recession where even getting an entry level retail job was difficult because boomers lost their higher paying jobs and went entry level just to get a paycheck. That was their introduction to adulthood.
It's gotten WORSE since 2008 where now Gen Z is facing the same struggles on top of a societal decay.
It's no wonder our youth today are looking at socialism/communism and wondering if it would even be that much worse if not possibly better.
Boomers are going to be pissed about what I just wrote but they need to realize the "bootstraps days" they inherited no longer exist and its due to their "leadership". The housing market WILL correct itself as the boomers continue dying off as they are now in their "golden to sunset years", all that is left is to make it so companies like Blackrock can't just buy up houses like they do to keep prices inflated.
Millennials will be in their mid to late 50's by the time most of them have their first home under their name. Gen Z will be in their late 30's.
Gen X in this remains forgotten for some reason, they know what it was like before all of this, and just how much damage was done by the boomers. I say this as a Xennial (that means I was born in the mid 1980's to 1980 itself).
I am part of that last generation that bridges analog with digital, yeah I am old.
@SeanTrapani@JohnCFLoftus1 Well moral frameworks SHOULD be baked into a major system. But instead we’ve normalized “the only responsibility for a business is profit”. That in itself is a problem for anyone with moral faculties.
Ron DeSantis explains why the GOP "screaming socialism" doesn't work anymore:
"Young people have a very positive view of socialism compared to capitalism. The question is, why is that? Some of it is the education in our universities. But I think a big part of that is, what they're comparing is not free enterprise versus socialism. What they're comparing is how government gets involved in business, and you have crony capitalism. The best kind of indirect supporters of socialism are some of these corporatist republicans who propagate these crony policies. The average person is seeing that and saying, 'Wait a minute, you're trying to bend the government to funnel benefits to this corporation or that industry. What about having a competitive market? ... Young people really aren't seeing that. They're seeing just a handful of companies that have an outsized influence on our economy and on our society"
A lot of truth to this. We’ve watched every case of crony capitalism get called “Capitalism” and every effort to fix the fallout “socialism”.
The problem with calling everything you don’t like socialism, is eventually you make socialism sound common. This is the same concept as “everything is racism”.
@FalltradesJack@OwenShroyer1776 There’s nothing to address because you didn’t pitch a legitimate argument, just argued that our parents did parental things. You want a participation trophy. 🏆
I think a big part of it is while we didn’t have it easy, life wasn’t awful. We saw the warnings, but our elders and role models told us everything was normal and would work out. I think we had our guard down too long, and woke filled the gap. Too much college in our generation frankly.
When around 2015 hit, I think most of us realized we were being lied to and this wasn’t getting better. Plus our own woke movement hurt us the most. Women were insufferable, white males were censored. That also was an awakening. Point is I think we’re built different today.
@tragiclabs@OwenShroyer1776 Boomers had the hippie era and did wayyy more damage to the culture during that period. We didn’t hold it over their heads forever and accepted they grew out of it.
Millennial wokeness was mainly self-afflicting. We hurt ourselves most. Many grew out of it and voted for Trump.