There's no way to save them. What they want is the lifestyle you boomers enjoyed. They want a house that costs 5 years of one spouse's salary. They want one spouse staying home to keep house and raise the kids. They want a car or two, a vacation or two a year, and a chance at actually retiring.
The best they can hope for is a house that costs 30 years of two spouses' salary. Neither spouse may stay home, both must work a soul-crushing job 40+ hours a week, and so the housework falls by the wayside. A car these days costs as much as a house did when you were young. All jobs today basically expect that you work through your vacation even if you're legally entitled to it. Aside from that, most jobs also expect that you work when you're not working by answering emails etc.
The solution might have been for your generation to live within their means, but they didn't. They racked up unrepayable deficits for decades, invited the entire third world to come here so the pensions don't collapse. Mass immigration also hyperinflated the cost of housing (which boomers have been riding high on) while suppressing the price of labour (making it impossible for subsequent generations to save enough to buy in).
If people from your generation found themselves in the hopeless dire straits today's youth are in, they'd opt out as well.
While that is partially true it is not exactly true in all of the western world. I do agree that younger generations have it tougher but since they have time on their side they can chase and live the dream at some point.
Millennials are a good example of being hit with multiple plandemics and still are rising in home ownership and they haven't even inherited if any of their homes from their parents or grand parents yet aka baby boomers.
Time solves a lot of problems but in the mean time what matters is that you stay focused in the short term.
Millennials are a good example of being hit with multiple plandemics and still are rising in home ownership and they haven't even inherited if any of their homes from their parents or grand parents yet aka baby boomers
"Home ownership" to a millennial means being saddled with a mortgage being worth 2 spouses' full time work for 30 years. It's an impossible-to-repay burden that demands 80+ hours each week of full time work.
"Home ownership" to a boomer meant a 5 year mortgage that one spouse working could pay off.
Millennials are also a generation that save more relative to their age bracket. And they have the aid of technology to be able to make money with side hustles that can be done all at home.
Boomer did have it easier but you are glossing over the fact that interest rates were much higher so you had to make money and put down more money on homes to make a purchase.
So the only real advantage boomers had back then was purchasing power IMO as wages kept up with the cost of housing They didn't have the advantage of technology like millennials do or information at their fingertips.
Millennials are also a generation that save more relative to their age bracket. And they have the aid of technology to be able to make money with side hustles that can be done all at home.
There's no choice. If you want a down payment for a house you have to save up as much money as your entire house cost you.
Boomer did have it easier but you are glossing over the fact that interest rates were much higher so you had to make money and put down more money on homes to make a purchase.
Lol I'll take high interest and house prices 1/50th of what they are now, over what we have today, any day. The fact is, ONE SPOUSE WORKING could pay it all off in your day, while today, TWO SPOUSES WORKING FULL TIME can't pay it all off.
So the only real advantage boomers had back then was purchasing power IMO as wages kept up with the cost of housing They didn't have the advantage of technology like millennials do or information at their fingertips.
I would gladly trade the internet for a functional homogenous high trust society.
There's no way to save them. What they want is the lifestyle you boomers enjoyed. They want a house that costs 5 years of one spouse's salary. They want one spouse staying home to keep house and raise the kids. They want a car or two, a vacation or two a year, and a chance at actually retiring.
The best they can hope for is a house that costs 30 years of two spouses' salary. Neither spouse may stay home, both must work a soul-crushing job 40+ hours a week, and so the housework falls by the wayside. A car these days costs as much as a house did when you were young. All jobs today basically expect that you work through your vacation even if you're legally entitled to it. Aside from that, most jobs also expect that you work when you're not working by answering emails etc.
The solution might have been for your generation to live within their means, but they didn't. They racked up unrepayable deficits for decades, invited the entire third world to come here so the pensions don't collapse. Mass immigration also hyperinflated the cost of housing (which boomers have been riding high on) while suppressing the price of labour (making it impossible for subsequent generations to save enough to buy in).
If people from your generation found themselves in the hopeless dire straits today's youth are in, they'd opt out as well.
While that is partially true it is not exactly true in all of the western world. I do agree that younger generations have it tougher but since they have time on their side they can chase and live the dream at some point.
Millennials are a good example of being hit with multiple plandemics and still are rising in home ownership and they haven't even inherited if any of their homes from their parents or grand parents yet aka baby boomers.
Time solves a lot of problems but in the mean time what matters is that you stay focused in the short term.
"Home ownership" to a millennial means being saddled with a mortgage being worth 2 spouses' full time work for 30 years. It's an impossible-to-repay burden that demands 80+ hours each week of full time work.
"Home ownership" to a boomer meant a 5 year mortgage that one spouse working could pay off.
Millennials are also a generation that save more relative to their age bracket. And they have the aid of technology to be able to make money with side hustles that can be done all at home.
Boomer did have it easier but you are glossing over the fact that interest rates were much higher so you had to make money and put down more money on homes to make a purchase.
So the only real advantage boomers had back then was purchasing power IMO as wages kept up with the cost of housing They didn't have the advantage of technology like millennials do or information at their fingertips.
There's no choice. If you want a down payment for a house you have to save up as much money as your entire house cost you.
Lol I'll take high interest and house prices 1/50th of what they are now, over what we have today, any day. The fact is, ONE SPOUSE WORKING could pay it all off in your day, while today, TWO SPOUSES WORKING FULL TIME can't pay it all off.
I would gladly trade the internet for a functional homogenous high trust society.