How Gen-Z "Became" the Poorest Generation
(youtu.be)
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What do you mean going $250k into debt and spending four years for a degree in gender studies was a bad investment? This is genocide!
I looked up the first house I bought in the late 00s on Zillow. Plugged that number into a mortgage calculator at current rates. Plugged my salary at the time into an inflation calculator and then plugged that number into a take home pay calculator.
At the time my mortgage payment was ~30% of take home. Now it'd be ~70% (and of course the larger down payment would take longer to save for).
I looked up the current rent on the shithole apartment I was living in just before I bought the place, plugged that number into in inflation calculator. Rents for a bit above what my mortgage payment was, adjusted for inflation.
So objectively speaking, someone in my exact position today (CS degree, good job) would be worse off than I was at the time.
At least my Boomer and GenX coworkers were sympathetic to how "crazy" housing prices had gotten. Now I guess we've decided it's Zoomers' fault they're even crazier. Another way they have it worse...
Yeah, it's the same in Europe too. I bought an apartment about 6 years ago, my mortgage is laughably low now compared to current rents in the area and in the meantime the place appreciated by at least 100%. My salary is around the 90th percentile in my country, but if I was buying now, there's no chance I'd ever save up for the 20% downpayment (+5% realtor's fee). It's not even a particularly nice place, it was a brand new building but it's still a 60m2 flat in a gypsy ghetto.
2 of my cousin's kids are young adults now and unless something drastically changes, they'll never own a house or a flat, there's just no way.
And then everyone wonders why the birth rates in so-called developed countries are so low. Surely importing another million illiterate sandniggers will help.
My first house was "drive 'til you qualify" too.
It makes perfect sense to me why people are either dropping out or going all-in on highly speculative things like crypto. When possible outcomes are flattened, your best options are to not play the game or to shoot for the moon. Anything else is a sucker's bet.