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I do think they care. If you see yourself strugling with rent at the age your parents were 5 years into paying off their house, you get very concerned about you
by jrumbut 6y ago
I do think they care. If you see yourself strugling with rent at the age your parents were 5 years into paying off their house, you get very concerned about your future and your children's future.
It's not that we just started showering wealth on the 40+ crowd, it's also a matter of the 18-40 year old adults perhaps not having the same opportunities to succeed (or having more opportunities to fail) than their parents did.
- JamesBarney 6y agoIncome for the 24-35 year old men has stayed about the same over the last 40-50 years. And women have seen a huge rise in salary over that timespan. The price of houses has gone up but that's mostly caused by them getting larger. Half of men in the 24-35 year old range will do worse than their father. And the other half better. And most women will be making more money than their mothers. [0] - https://www.census.gov/data/tables/time-series/demo/income-poverty/historical-income-people.html https://www.census.gov/data/tables/time-series/demo/income-p...
- jrumbut 6y agoIncome is different than wealth. If you're making the same (or more even) but paying rent instead of a mortgage you end up in a very different place.
- JamesBarney 6y agoAn FHA loan only requires putting down 3%. Assuming a 200k house, an average women is earning that much more than her mother in 3 months.
- jrumbut 6y agoAnd yet she would appear to have a lower share of society's wealth than her mother did. If she was just earning more money and had this great opportunity to buy a home you'd think the opposite would be true or at least things would stay level.