4 ms·

The experience of millennials is quite diverse. Some of us are doing great, but the statistics show otherwise: https://www.pewresearch.org/social-trends/2019/02

by kodah 3y ago

The experience of millennials is quite diverse. Some of us are doing great, but the statistics show otherwise: 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... Hidden in those statistics are also some burgeoning equity issues which are only beginning to show their face with GenZ.

timmg 3y ago
FYI, that article is 4 years old. I think things have changed a lot since then.
- MattGaiser 3y ago
  https://www.redfin.com/news/gen-z-millennial-homeownership-rate-home-purchases/ https://www.redfin.com/news/gen-z-millennial-homeownership-r... Millennial home ownership rates are a bit behind, but not by a crazy amount for example.
  - timmg 3y ago
    I would think the want/need for owning a home to be enhanced by marriage/children. Since younger generations are less likely to do those things -- and more likely to do them later -- than earlier generations, that must count for some of the difference(?)
    - mrguyorama 3y ago
      You have it backwards. Plenty of millennials want kids and marriage and a home, but the shitty situation we find ourselves in means we cannot responsibly have kids.
    - ghaff 3y ago
      Certainly if someone is single/doesn't have kids, there's almost certainly less urgency to buy a place given that, money aside, it may be a fairly significant time commitment and it certainly increases the friction of moving somewhere different for a job or other reason.
NickC25 3y ago
Some of us (I'm 33, so old-ish millennial here) are doing well, yes, but some of us have been doing terrible. The economy has, overall, not been kind to us. Boomers need to retire already, because they've held onto the top rung of the ladder for far too long, which has caused severe ripple effects in our economy. Their mentality, while not inherently bad, has not kept up with reality. I personally have struggled and am extremely fortunate that I've had great parents who were wealthy enough to partially support me. I wasn't able to get into a good company after college and that has absolutely wrecked my career - taking odd jobs and short-term employment to put food on the table and pay rent. As I'm not an engineer, my career prospects are quite dim. Now that there's an entire new generation entering the workforce, I'm afraid that there's millions of people in my position who simply won't be able to afford anything, much less a home or a family. That's not good for the economy, but the folks at the top don't really care as long as they get paid.
- ChuckNorris89 3y ago
  >Boomers need to retire already, because they've held onto the top rung of the ladder for far too long Boomers will just leave their wealth to their kids, so if you don't have well off parents, you'll still find yourself underneath the ladder, holding the short stick, at the upcoming generational wealth transfer. We need more inheritance taxes, at least in Europe, which at his point is a feudal state from this tax-free inter generational wealth transfers in some parts.

by kodah 3y ago

timmg 3y ago

FYI, that article is 4 years old. I think things have changed a lot since then.

MattGaiser 3y ago
https://www.redfin.com/news/gen-z-millennial-homeownership-rate-home-purchases/ https://www.redfin.com/news/gen-z-millennial-homeownership-r... Millennial home ownership rates are a bit behind, but not by a crazy amount for example.
- timmg 3y ago
  I would think the want/need for owning a home to be enhanced by marriage/children. Since younger generations are less likely to do those things -- and more likely to do them later -- than earlier generations, that must count for some of the difference(?)
  - mrguyorama 3y ago
    You have it backwards. Plenty of millennials want kids and marriage and a home, but the shitty situation we find ourselves in means we cannot responsibly have kids.
  - ghaff 3y ago
    Certainly if someone is single/doesn't have kids, there's almost certainly less urgency to buy a place given that, money aside, it may be a fairly significant time commitment and it certainly increases the friction of moving somewhere different for a job or other reason.

NickC25 3y ago

Some of us (I'm 33, so old-ish millennial here) are doing well, yes, but some of us have been doing terrible. The economy has, overall, not been kind to us. Boomers need to retire already, because they've held onto the top rung of the ladder for far too long, which has caused severe ripple effects in our economy. Their mentality, while not inherently bad, has not kept up with reality. I personally have struggled and am extremely fortunate that I've had great parents who were wealthy enough to partially support me. I wasn't able to get into a good company after college and that has absolutely wrecked my career - taking odd jobs and short-term employment to put food on the table and pay rent. As I'm not an engineer, my career prospects are quite dim. Now that there's an entire new generation entering the workforce, I'm afraid that there's millions of people in my position who simply won't be able to afford anything, much less a home or a family. That's not good for the economy, but the folks at the top don't really care as long as they get paid.

ChuckNorris89 3y ago
>Boomers need to retire already, because they've held onto the top rung of the ladder for far too long Boomers will just leave their wealth to their kids, so if you don't have well off parents, you'll still find yourself underneath the ladder, holding the short stick, at the upcoming generational wealth transfer. We need more inheritance taxes, at least in Europe, which at his point is a feudal state from this tax-free inter generational wealth transfers in some parts.