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The perception that <current generation> is worse off than previous generations is very common but the truth is a bit more complex. - Household income trends p

The perception that <current generation> is worse off than previous generations is very common but the truth is a bit more complex. - Household income trends per age group have remained relatively consistent. The youngest group has seen the biggest dip in the past couple decades but did recover pre-COVID. https://www.pewresearch.org/wp-content/uploads/2018/12/FT_18.12.04_IncomeGenerations1.png https://www.pewresearch.org/wp-content/uploads/2018/12/FT_18... - Real incomes are down slightly for those without a college degree but up significantly for those with a bachelor's or better https://www.pewresearch.org/social-trends/2019/02/14/millennial-life-how-young-adulthood-today-compares-with-prior-generations-2/ https://www.pewresearch.org/social-trends/2019/02/14/millenn... - Housing prices are up significantly https://fred.stlouisfed.org/series/USSTHPI https://fred.stlouisfed.org/series/USSTHPI but price per square foot is actually fairly flat https://www.aei.org/carpe-diem/todays-new-homes-are-1000-square-feet-larger-than-in-1973-and-the-living-space-per-person-has-doubled-over-last-40-years/ https://www.aei.org/carpe-diem/todays-new-homes-are-1000-squ...

trinovantes 4y ago
Income and wealth after Gen X is trending down for same age groups according to your sources. It also follows the conclusion from this talk [1]. Another thing to keep in mind is with decreasing birth rates, future generations will have a higher tax burden to support the aging costs of the previous generations. [1] https://youtu.be/ZuXzvjBYW8A?t=487 https://youtu.be/ZuXzvjBYW8A?t=487
- millimeterman 4y ago
  > Income and wealth after Gen X is trending down for same age groups according to your sources. While I see what you mean, the effect seems minor at best. I wouldn't feel comfortable coming to that conclusion without more future data and comparative numbers for Gen Z. > Another thing to keep in mind is with decreasing birth rates, future generations will have a higher tax burden to support the aging costs of the previous generations. This does sound reasonable, though I don't necessarily know of any actual research supporting this conclusion.
  - ehnto 4y ago
    It's just the math of the situation, the cost of pensions will be spread amongst fewer taxpayers if the birth rate declines. Some countries are solving this right now with immigration to inflate the tax base.

trinovantes 4y ago

Income and wealth after Gen X is trending down for same age groups according to your sources. It also follows the conclusion from this talk [1]. Another thing to keep in mind is with decreasing birth rates, future generations will have a higher tax burden to support the aging costs of the previous generations. [1] https://youtu.be/ZuXzvjBYW8A?t=487 https://youtu.be/ZuXzvjBYW8A?t=487

millimeterman 4y ago
> Income and wealth after Gen X is trending down for same age groups according to your sources. While I see what you mean, the effect seems minor at best. I wouldn't feel comfortable coming to that conclusion without more future data and comparative numbers for Gen Z. > Another thing to keep in mind is with decreasing birth rates, future generations will have a higher tax burden to support the aging costs of the previous generations. This does sound reasonable, though I don't necessarily know of any actual research supporting this conclusion.
- ehnto 4y ago
  It's just the math of the situation, the cost of pensions will be spread amongst fewer taxpayers if the birth rate declines. Some countries are solving this right now with immigration to inflate the tax base.