4 ms·

Besides bleak job market, horrible healthcare, being potential homeless due to skyhigh housing cost, stark contrast to the boomer's easy life, the more extreme

Besides bleak job market, horrible healthcare, being potential homeless due to skyhigh housing cost, stark contrast to the boomer's easy life, the more extreme weathers and the climate change, textbook is probably an afterthought. It's not even in top 10 things to worry about

sgift 3y ago
If a textbook you require for a course can cost up to 500 dollar (not unheard of in e.g. medicine) and you have to buy multiple books in one semester it's no longer an afterthought. What is top ten will always depend on personal situations.
- PreachSoup 3y ago
  I mean in the context of this post, paying for textbook is an afterthought(i.e. pivacy)
fallingknife 3y ago
Millennials have more money than boomers did at the same age. There was no "boomer's easy life." That's a myth. https://www.theatlantic.com/magazine/archive/2023/05/millennial-generation-financial-issues-income-homeowners/673485/ https://www.theatlantic.com/magazine/archive/2023/05/millenn...
- PreachSoup 3y ago
  Are you sure about that? Have you actually talked to the students about the cost of everything right now? Especially the housing stats is such an easy stats to game on. They usually mean the family unit who owns the place they live in, so if a student who lives with his parents, the whole family would be considered as home owner. Btw Im not a student and I lucked out in the tech. I just feel sorry for the current kids
- zbrozek 3y ago
  50 percent of Boomers owned their own home as 25-to-39-year-olds, compared with 48 percent of Millennials, hardly a difference deserving of headlines or social-media memes. That's a ridiculously wide age range to use for comparison. And you'd be better off showing the median age of first home purchase or mortgage payoff. A modest increase in income or net worth is meaningless if housing has skyrocketed in comparison.
  - latency-guy2 3y ago
    The number is around 32 for boomers, and 34 for millennials. The age range is very specific, say 95th percentile onwards, else you can just say 18 - 39, but you would find that even more unreasonable, despite it including roughly the same population. It's not wide. Mortgage payoff is not tracked as much as anyone would like. > A modest increase in income or net worth is meaningless if housing has skyrocketed in comparison. If the housing prices are temporarily inflated or stagnate for a few years, then it truly does not matter as much as you would like it to be. No generation is immune to market conditions, nor should be.
  - chaosite 3y ago
    I mean, you're not wrong, but note that in 2023, Millennials and "25-to-39-year-olds" are one and the same. That is, I agree that this is not the best comparison, but the age range isn't arbitrary.
    - zbrozek 3y ago
      That's true, but it captures folks across such a wide range of stages of life as to be useless. Breaking it down into two to four buckets would make the point more convincing.
- cultureswitch 3y ago
  Complete bullshit. "adjusting for inflation" doesn't include the price of housing and the price of education, both of which increased at least one order of magnitude faster than salaries.

sgift 3y ago

If a textbook you require for a course can cost up to 500 dollar (not unheard of in e.g. medicine) and you have to buy multiple books in one semester it's no longer an afterthought. What is top ten will always depend on personal situations.

PreachSoup 3y ago
I mean in the context of this post, paying for textbook is an afterthought(i.e. pivacy)

fallingknife 3y ago

Millennials have more money than boomers did at the same age. There was no "boomer's easy life." That's a myth. https://www.theatlantic.com/magazine/archive/2023/05/millennial-generation-financial-issues-income-homeowners/673485/ https://www.theatlantic.com/magazine/archive/2023/05/millenn...

PreachSoup 3y ago
Are you sure about that? Have you actually talked to the students about the cost of everything right now? Especially the housing stats is such an easy stats to game on. They usually mean the family unit who owns the place they live in, so if a student who lives with his parents, the whole family would be considered as home owner. Btw Im not a student and I lucked out in the tech. I just feel sorry for the current kids
zbrozek 3y ago
50 percent of Boomers owned their own home as 25-to-39-year-olds, compared with 48 percent of Millennials, hardly a difference deserving of headlines or social-media memes. That's a ridiculously wide age range to use for comparison. And you'd be better off showing the median age of first home purchase or mortgage payoff. A modest increase in income or net worth is meaningless if housing has skyrocketed in comparison.
- latency-guy2 3y ago
  The number is around 32 for boomers, and 34 for millennials. The age range is very specific, say 95th percentile onwards, else you can just say 18 - 39, but you would find that even more unreasonable, despite it including roughly the same population. It's not wide. Mortgage payoff is not tracked as much as anyone would like. > A modest increase in income or net worth is meaningless if housing has skyrocketed in comparison. If the housing prices are temporarily inflated or stagnate for a few years, then it truly does not matter as much as you would like it to be. No generation is immune to market conditions, nor should be.
- chaosite 3y ago
  I mean, you're not wrong, but note that in 2023, Millennials and "25-to-39-year-olds" are one and the same. That is, I agree that this is not the best comparison, but the age range isn't arbitrary.
  - zbrozek 3y ago
    That's true, but it captures folks across such a wide range of stages of life as to be useless. Breaking it down into two to four buckets would make the point more convincing.
cultureswitch 3y ago
Complete bullshit. "adjusting for inflation" doesn't include the price of housing and the price of education, both of which increased at least one order of magnitude faster than salaries.