nek said:Graft said:MrLemon said:Fortis said:Take your average boomer and make them a kid in this era and they'd be used as fucked as a millennial. There isn't anything special about boomers, they were little born into wealth and affluence.
As a boomer, I agree this is completely true. Whenever a boomer tells you how hard their lives were...throw a drink in their face. It's such bullshit. Sure we didn't have cell phones, but by every other measure, we were handed the sweetest deal by our hardworking WW2 parents. We proceeded to blow that sweetness, being the lazyest drug-taking hippy fucks in the history of the human race. Then we boobytrapped the entire US economy to make you millenials/xers into our personal slaves.
We were given low cost, affordable housing. Intentionally kept low cost so we could buy. We proceeded to inflate those housing costs insanely, so that we could have massive capital gains profits to blow on our retirement, all paid for by you poor suckers who have to spend the next 30 years slaving to pay the huge payments. To us!
We were given low cost, affordable high quality colleges. Intentionally kept low cost and high quality so we as middle class people could get an education with ZERO DEBT if we worked a few part time jobs. We have loaded those universities with masses of rent-seeking liberal administrators, and jacked the salaries of management 3X faster than inflation. So you kids will spend you whole lives in debt to pay for our pension plans.
Every single measure the WW2 generation used to make the Amerian middle class affordable for the average citizen, we baby boomers have utterly corrupted to feed our desire to retire and go on fancy eco-cruises.
While our granddaughters -- literally -- are forced to turn tricks on SeekingArrangments to pay their college loans back.
The depth of depravity and immorality of the baby boomer generation will be written about in history books for a thousand years. Ok, well maybe 50 years. Let's not overdo it. but it's bad enough.
As the son of borderline retarded boomers, this post strikes a nerve.
Sometimes I think the generation is so narcissistic overall that they've never looked at any sort of statistics or charts which explain how dire the situation for us is.
You need to make 200k as a 30 year old to be in the top 1% of earners for your age. Factoring in saving for a six figure downpayment on a home and paying off student loans, this income gives you a fairly middle class life in NY/SF/LA metro areas where a lot of these jobs are.
If you want to crack an upper middle class existence in these cities you really need a husband and wife earning top dollar to make it.
I find it hilarious when my parents make remarks to me about not being at their level with home purchasing and savings.
Hopefully we get a massive correction in the stocks/real estate but the upper middle class millennials will most likely inherit their money, take huge risks in crypto/self employment, or have two ultrasuccessful corporate earners.
I always wonder what's going to happen to the McMansions that the Boomers will pass on to Millenials/Gen Xers that don't want them. I imagine the stock market might be a bit of a bubble as well, propped up by the retirement accounts of Boomers.
Its happening already. I just moved out of an area where homes under $180k get listed for 1 day before being sold, newer/new construction homes also go under contract quickly. Huge houses built in 1989 go on the market for high asking prices and just sit there. The prices don't drop because the residents don't have to move anywhere and no one is really interested in the house, for the price they are asking.
I think that these mcmansions are going to be inherited by grandchildren. It could be a a gift to millenials IF these houses are maintained and not neglected while the current residents run out of cash, and the physical ability to maintain the home.
Alternatively, there are also a number of these businesses appearing that will buy an interest in your home and let you live in until you die. They will then turn the house into a rental. Either way, I'm sure they aren't offering top dollar.
If I were a millennial today, I would be looking to take advantage of the opportunities being presented by an aging population, with few children. Senior citizens have become invisible as they don't use social media, but are holding onto physical wealth. If a gen-z'er finds a way to build a network and friendship with these people, who have no children, you could find yourself in a good position beyond just the wisdom they have to offer.