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re: For the first time in our nation's history, a 30-year-old isn't doing as well their parent
Posted on 4/24/24 at 10:05 pm to loogaroo
Posted on 4/24/24 at 10:05 pm to loogaroo
I don't accept the premise.
The average worker works 5% fewer hours now than the average worker in 1980 (and that's not counting the time they sit at their desk texting instead of working).
Houses now are 40% larger on average than they were in 1980. So when someone points out that younger people "can't" buy one, that's as much the reason why as any other factor.
And yes, the prices have gone up since then, but the interest rates have gone down. The IR went up to almost 17% in 1981. So unless you're buying a house with cash, the interest rate from that time period added so much to the mortgage that—along with the fact that the comparable house now is 40% bigger—it pretty well evens out.
Most things were more expensive adjusted for inflation back then. Any appliances or anything having to do with electronics. Food was roughly the same. Cars were marginally less expensive back then.
And life is just more comfortable now. That's the problem with these types of comparisons. They ignore the real quality of life picture.
Things work better now—even cheaper things. Everything is more convenient now. Everything is oriented toward more amenities now. You have more computing power in your phone than a computer the size of a refrigerator had in 1980.
I'll start feeling sorrier for today's 30 year olds when they start living more like my parents did when they were 30 in 1971. We did without a WHOLE LOT of luxuries that 30 year olds today completely take for granted and feel entitled to.
The average worker works 5% fewer hours now than the average worker in 1980 (and that's not counting the time they sit at their desk texting instead of working).
Houses now are 40% larger on average than they were in 1980. So when someone points out that younger people "can't" buy one, that's as much the reason why as any other factor.
And yes, the prices have gone up since then, but the interest rates have gone down. The IR went up to almost 17% in 1981. So unless you're buying a house with cash, the interest rate from that time period added so much to the mortgage that—along with the fact that the comparable house now is 40% bigger—it pretty well evens out.
Most things were more expensive adjusted for inflation back then. Any appliances or anything having to do with electronics. Food was roughly the same. Cars were marginally less expensive back then.
And life is just more comfortable now. That's the problem with these types of comparisons. They ignore the real quality of life picture.
Things work better now—even cheaper things. Everything is more convenient now. Everything is oriented toward more amenities now. You have more computing power in your phone than a computer the size of a refrigerator had in 1980.
I'll start feeling sorrier for today's 30 year olds when they start living more like my parents did when they were 30 in 1971. We did without a WHOLE LOT of luxuries that 30 year olds today completely take for granted and feel entitled to.
Posted on 4/24/24 at 10:10 pm to Tiger in Texas
quote:
I don't see my daughters ever doing better than me
They are likely already "doing better than you."
Their lives are probably already more comfortable than yours at their age. I don't know how old you are, but they probably take several things for granted that you couldn't even imagine existing at their age.
It depends on how you define these things.
Posted on 4/24/24 at 10:14 pm to loogaroo
The Boomer way has always been to live it up and frick over the next generation by sticking them with the bill. Well the bill is here and most of the boomers are drawing pensions and social security all the while not giving two shits.
Posted on 4/24/24 at 10:18 pm to Pax Regis
quote:
The Boomer way has always been to live it up and frick over the next generation by sticking them with the bill.
Baby Boomers didn't invent SS/Medicare.
Posted on 4/24/24 at 10:28 pm to Pax Regis
quote:
The Boomer way has always been to live it up and frick over the next generation by sticking them with the bill. Well the bill is here and most of the boomers are drawing pensions and social security all the while not giving two shits.
It's funny, but in a sad way, how f'n duped so many young(er) people are. You must really believe this shite.
Do you also believe the weather is going to put our coastal cities underwater and then kill you?
Do you believe whitey is the greatest threat to the American homeland?
Did you believe Covid was going to kill everybody?
How many times do you have to be convinced of retarded shite before you stop believing retarded shite?
This post was edited on 4/24/24 at 10:30 pm
Posted on 4/24/24 at 10:29 pm to Damone
quote:
Boomer policies coming home to roost
Link?
Posted on 4/25/24 at 6:51 am to Pax Regis
Boy are you ignorant
ETA:while I'm thinking about it, can someone find one boomer policy where we were just allowed to wipe out hundreds of thousands of dollars in debt we contracted for? Without repercussions?
ETA:while I'm thinking about it, can someone find one boomer policy where we were just allowed to wipe out hundreds of thousands of dollars in debt we contracted for? Without repercussions?
This post was edited on 4/25/24 at 6:54 am
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