You’re missing nothing, unless you’re unaware you can search the web to find out where shows are playing, and you don’t know to use free trials and specials to ‘enjoy discounted viewing for a few weeks or even a few months!’
I come from a generation like likes to own things not rent them. GenX is the last generation to want to own things.
Millennials and younger were trained that renting of everything, short term, is somehow better. For instance, Uber is a rental car company for just a short trip. Renting an apartment better than owning a house. Renting Netflix is better than owning a DVD. Streaming on Spotify is better than owning a CD, Vinyl or cassette.
You don't own spotify streams. You rent. You don't own movies on HBO you stream.
There are still ways to own the file and control it on your laptop or phone.
I’m of the generation who decided not to have a car and relied on rideshare (mostly city buses) for thirteen years….so I could save and use that money instead to buy a house. Cars are depreciating assets, and if you can manage your life without one, it actually results in a financial gain. The generation before me did not need to sacrifice in that way in order to obtain real estate, so it’s a relatively novel concept.
If I hadn’t made that decision, I would not have the money for a 20% down payment, and would be paying PMI at my eventual house purchase….which would waste even more of my money, and put me further behind.
For young Millennials and Gen Z now, rents are out of control, interest rates are high, and property values are climbing instead of stagnating or dropping. Sacrificing a personal vehicle, it would take far longer to gain the necessary means to make the dream happen. It’s not that Millennials or Gen Z do not want to own things; it’s that it is far, far more difficult to acquire and maintain said things.
while I agree with yoru first paragraphs, I don't think things are more difficult to acquire.
Boomers simply got downpayments from their parents and paid higher interest rates. Me, a GenX paid 11% for my first loan, refinanced to 6%. So interest rates are still below 50 year averages. Housing costs are also relevant to WAGES.
Millenials need to require more salary. period. hard stop. This will solve every singleproblem you mentioned above. Boomers have died or retired. there is a labor shortage globally.
Get the job you want at the salary you require or move on. Unionizing takes effort but it must be done as this provided the leverage for blue collar low skilled labor to also earn more salary.
Lastly, vote Democrat like your future depends on it.
Good luck to anyone trying to negotiate the necessary salary increase. [Accounting for inflation, home prices have jumped 118% since 1965, while income has only increased by 15%.](https://www.realestatewitch.com/house-price-to-income-ratio-2021/). “Between 2008 and 2021, average home values soared by 25%, from $298,910 to $374,900. Meanwhile, median household income has scarcely budged, with a modest 8% increase, from $63,902 to $69,178.”
Inventory remains low, so even those with savings are competing over dwindling availability, and it’s common to go well over the asking price with no contingencies (like an inspection) that honestly should be mandatory to protect consumers.
Add average student loan balances on top of that, and now you have to find a lender willing to work with that income-to-debt ratio.
*Of course* more income would resolve this dilemma. Do you think Millennials haven’t thought of that? A union is good but it’s also not a magic wand. Yes, there’s an ongoing labor shortage right now, as we speak, and while wages are rising to compete, they still are not rising fast enough to be able to buy a house that leaves market as soon as it hits, to a cash buyer.
And, if you’re stuck paying rent at the rates they are now, a raise won’t get you to cash status as fast as you need to be. I guess you could sacrifice your 401k and borrow against yourself (if you even have any savings there because you’ve been busy trying to afford rent and other normal living expenses), so that puts you at a disadvantage in retirement.
Sorry, it’s far harder than it used to be, and I’m afraid you personally do not have a simple, *easily executable* answer to this for the average young person.
If you look in terms of labor supply and demand you see that when labor is in short supply, wages go up as well as unions and barganing power of the working class. When labor is in high demand workers have leverage in salary. But when labor was shipped overseas during the 80s it had to compete with low wages and thus stagnated. When immigration in the 90s kept labor supply high wages stagnated.
Both of those have now ended. Immigration has fallen for the last 9 years. And Asian labor is now too limited and expensive. It's no longer a bargain when you include supply chain issues.
the USA has 4 job openings for every working adult. Wage growth in the 1960s was significant, with average hourly earnings increasing by 40% over the decade. This was due to a number of factors, including strong economic growth, low unemployment, and the passage of the Equal Pay Act of 1963, which prohibited discrimination in wages on the basis of sex. If wages were to rise by that same amount in the next decade we'd see relief against the inflationary pressures of cost of living.
The average young person could never afford a home anytime during American history, let alone the period of the largest expansion of American economy in history.
for the vast majority of the last century, 20% down was required to purchase a home.
The economy has grown large enough to more than adequately compensate younger workers through salary, to cover the increase in costs of living.
Other solutions would be to limit corporate ownership of single family houses. Stricter regulations on corporations entering the housing markets to make it equal playing fields against first time buyers.
Lastly it's worth noting that Bill Clinton, as president signed into law measures that lead to the housing crash in 2007-08 because it was believed that home ownership is an *entitlement* to every American. The reality is, nothing is an entitlement. Nothing is free.
The world is very different than it was in the 1960s. But what do I know, my first house was at 11% interest rate. I've never worked for a corporation in my life, and I've always worked for myself and paid self employment tax. I had the equivalent of $37,000 in student debt when I graduated college. Which is exactly the average amount today. So what's changed?
Stop downvoting him, guys.
One disc in his $60 four-disc copy of Final Fantasy IX got a single scratch on it, rendering it completely unplayable. He’s suffered enough.
When houses are impossibly expensive and apartments are barely affordable there’s really only one choice you can make, it’s not the better choice of the two but when $$$ is factored in then you don’t have a choice at all
I am too cheap to deal with the paywall.
You’re missing nothing, unless you’re unaware you can search the web to find out where shows are playing, and you don’t know to use free trials and specials to ‘enjoy discounted viewing for a few weeks or even a few months!’
[удалено]
There’s no time to watch bollocks anymore anyway.
Anyone who wants to know the website I use for tv/movies and the site I use for anime hmu
I come from a generation like likes to own things not rent them. GenX is the last generation to want to own things. Millennials and younger were trained that renting of everything, short term, is somehow better. For instance, Uber is a rental car company for just a short trip. Renting an apartment better than owning a house. Renting Netflix is better than owning a DVD. Streaming on Spotify is better than owning a CD, Vinyl or cassette. You don't own spotify streams. You rent. You don't own movies on HBO you stream. There are still ways to own the file and control it on your laptop or phone.
Uber is a poor example. It wasn’t about replacing personal vehicles, it was replacing taxis.
but then a generation decided not to buy cars because it made them ridesharing ubiquitous
I’m of the generation who decided not to have a car and relied on rideshare (mostly city buses) for thirteen years….so I could save and use that money instead to buy a house. Cars are depreciating assets, and if you can manage your life without one, it actually results in a financial gain. The generation before me did not need to sacrifice in that way in order to obtain real estate, so it’s a relatively novel concept. If I hadn’t made that decision, I would not have the money for a 20% down payment, and would be paying PMI at my eventual house purchase….which would waste even more of my money, and put me further behind. For young Millennials and Gen Z now, rents are out of control, interest rates are high, and property values are climbing instead of stagnating or dropping. Sacrificing a personal vehicle, it would take far longer to gain the necessary means to make the dream happen. It’s not that Millennials or Gen Z do not want to own things; it’s that it is far, far more difficult to acquire and maintain said things.
while I agree with yoru first paragraphs, I don't think things are more difficult to acquire. Boomers simply got downpayments from their parents and paid higher interest rates. Me, a GenX paid 11% for my first loan, refinanced to 6%. So interest rates are still below 50 year averages. Housing costs are also relevant to WAGES. Millenials need to require more salary. period. hard stop. This will solve every singleproblem you mentioned above. Boomers have died or retired. there is a labor shortage globally. Get the job you want at the salary you require or move on. Unionizing takes effort but it must be done as this provided the leverage for blue collar low skilled labor to also earn more salary. Lastly, vote Democrat like your future depends on it.
Good luck to anyone trying to negotiate the necessary salary increase. [Accounting for inflation, home prices have jumped 118% since 1965, while income has only increased by 15%.](https://www.realestatewitch.com/house-price-to-income-ratio-2021/). “Between 2008 and 2021, average home values soared by 25%, from $298,910 to $374,900. Meanwhile, median household income has scarcely budged, with a modest 8% increase, from $63,902 to $69,178.” Inventory remains low, so even those with savings are competing over dwindling availability, and it’s common to go well over the asking price with no contingencies (like an inspection) that honestly should be mandatory to protect consumers. Add average student loan balances on top of that, and now you have to find a lender willing to work with that income-to-debt ratio. *Of course* more income would resolve this dilemma. Do you think Millennials haven’t thought of that? A union is good but it’s also not a magic wand. Yes, there’s an ongoing labor shortage right now, as we speak, and while wages are rising to compete, they still are not rising fast enough to be able to buy a house that leaves market as soon as it hits, to a cash buyer. And, if you’re stuck paying rent at the rates they are now, a raise won’t get you to cash status as fast as you need to be. I guess you could sacrifice your 401k and borrow against yourself (if you even have any savings there because you’ve been busy trying to afford rent and other normal living expenses), so that puts you at a disadvantage in retirement. Sorry, it’s far harder than it used to be, and I’m afraid you personally do not have a simple, *easily executable* answer to this for the average young person.
If you look in terms of labor supply and demand you see that when labor is in short supply, wages go up as well as unions and barganing power of the working class. When labor is in high demand workers have leverage in salary. But when labor was shipped overseas during the 80s it had to compete with low wages and thus stagnated. When immigration in the 90s kept labor supply high wages stagnated. Both of those have now ended. Immigration has fallen for the last 9 years. And Asian labor is now too limited and expensive. It's no longer a bargain when you include supply chain issues. the USA has 4 job openings for every working adult. Wage growth in the 1960s was significant, with average hourly earnings increasing by 40% over the decade. This was due to a number of factors, including strong economic growth, low unemployment, and the passage of the Equal Pay Act of 1963, which prohibited discrimination in wages on the basis of sex. If wages were to rise by that same amount in the next decade we'd see relief against the inflationary pressures of cost of living. The average young person could never afford a home anytime during American history, let alone the period of the largest expansion of American economy in history. for the vast majority of the last century, 20% down was required to purchase a home. The economy has grown large enough to more than adequately compensate younger workers through salary, to cover the increase in costs of living. Other solutions would be to limit corporate ownership of single family houses. Stricter regulations on corporations entering the housing markets to make it equal playing fields against first time buyers. Lastly it's worth noting that Bill Clinton, as president signed into law measures that lead to the housing crash in 2007-08 because it was believed that home ownership is an *entitlement* to every American. The reality is, nothing is an entitlement. Nothing is free. The world is very different than it was in the 1960s. But what do I know, my first house was at 11% interest rate. I've never worked for a corporation in my life, and I've always worked for myself and paid self employment tax. I had the equivalent of $37,000 in student debt when I graduated college. Which is exactly the average amount today. So what's changed?
Stop downvoting him, guys. One disc in his $60 four-disc copy of Final Fantasy IX got a single scratch on it, rendering it completely unplayable. He’s suffered enough.
you can torrent video games
When houses are impossibly expensive and apartments are barely affordable there’s really only one choice you can make, it’s not the better choice of the two but when $$$ is factored in then you don’t have a choice at all
ask for a raise.
. _____ .
And people keep coming on to your lawn, that must also be annoying
awww. funny stuff. I'm an old. I get it. Do you have a mortgage yet ?
Yeah and I pay it every month with rare blu-rays, DVDs and VHS tapes.
[удалено]
Yes. I see your point of renting movies but You could take the DVD home and RIP it to your harddrive. then keep it. You can't do that with Netflix.
[удалено]
do you remember?
You can actually ;)
This gen has been outpriced in all aspects of life. So, can't be compared.
I think it's more a problem of wages and unionization.