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.
I am an older millennial so I remember the 80s well aka pre internet 90s peak consumer age and I prefer this age because we have knowledge at our finger tips.
The 80s was great if you wanted a 12% CD though for example but it also was a period of uncertainty due to the cold war.
For the age of having a husband work and a wife to stay home which was the 1950s it requires a huge shift in society. Women were skilled in not only cooking, baking, sewing, but also plumbing and light electrical work. The men worked a job but they also had a responsibility to forgo escapism and put family first. Doing as many repairs of their home and car as possible. Saving and investing money wisely for the yearly family vacation. Consumerism wasn't a priority and you can see a glimpse of that life style in eastern Europe today.
"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.
I am an older millennial so I remember the 80s well aka pre internet 90s peak consumer age and I prefer this age because we have knowledge at our finger tips.
The 80s was great if you wanted a 12% CD though for example but it also was a period of uncertainty due to the cold war.
For the age of having a husband work and a wife to stay home which was the 1950s it requires a huge shift in society. Women were skilled in not only cooking, baking, sewing, but also plumbing and light electrical work. The men worked a job but they also had a responsibility to forgo escapism and put family first. Doing as many repairs of their home and car as possible. Saving and investing money wisely for the yearly family vacation. Consumerism wasn't a priority and you can see a glimpse of that life style in eastern Europe today.