3 ms·

The article may suck but every dataset I've seen supports the notion that average-net-worth-at-same-age took a sharp dive with Gen X, was even worse for Millenn

The article may suck but every dataset I've seen supports the notion that average-net-worth-at-same-age took a sharp dive with Gen X, was even worse for Millennials, and is yet worse than that for Gen Z. IOW each generation has saved less than the Boomers when they were the same age, and the effect's gotten worse with each new generation. Perhaps unsurprisingly—and, maybe even explaining most of the effect—home ownership rates at-same-age, by generation, look pretty similar. More 25-year-old Boomers owned their home, than Gen Xers, than Millennials, than Zers, and there's no later-in-life sharp uptick for those generations that makes up the gap. Worse with each generation.

mrguyorama 4y ago
And every attempt to fix this buy making housing affordable for younger people is met by extremely angry accusations of entitlement by the generation with the easiest access to wealth and good salaries in history, and spent their entire time on this earth making things shittier for next generations by making homes a for profit endeavor instead of a thing most people need, ignoring global warming and green energy for the enrichment of very few, removing and kneecapping what few social safety nets this country had, and treating people self medicating with drugs as criminals instead of people desperately trying to avoid burnout. So yeah, any advice or claim from these people rings stupidly hollow, especially since they regularly seem to have no fucking clue what these young people are experiencing, because in their time, the minimum wage was enough to buy a medium size house, a small car, and have a family.
timr 4y ago
I actually agree with you. The problem is that you're doing a better job of making the case than the NY Times writer, who resorted to citing anecdotes that mostly contradicted the lede and tried to hide that fact.

mrguyorama 4y ago

And every attempt to fix this buy making housing affordable for younger people is met by extremely angry accusations of entitlement by the generation with the easiest access to wealth and good salaries in history, and spent their entire time on this earth making things shittier for next generations by making homes a for profit endeavor instead of a thing most people need, ignoring global warming and green energy for the enrichment of very few, removing and kneecapping what few social safety nets this country had, and treating people self medicating with drugs as criminals instead of people desperately trying to avoid burnout. So yeah, any advice or claim from these people rings stupidly hollow, especially since they regularly seem to have no fucking clue what these young people are experiencing, because in their time, the minimum wage was enough to buy a medium size house, a small car, and have a family.

timr 4y ago

I actually agree with you. The problem is that you're doing a better job of making the case than the NY Times writer, who resorted to citing anecdotes that mostly contradicted the lede and tried to hide that fact.