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Right, now we're the "stuck in a 30 year mortgage we can't afford and If I lose my job I could lose my house" generation. Humbling, in a way boomers never expe

• dragonwriter 3y ago
  > Right, now we're the "stuck in a 30 year mortgage we can't afford and If I lose my job I could lose my house" generation. > Humbling, in a way boomers never experienced. Boomers actually did experience that, and, in fact, lots of them lost their houses. Yeah. Housing asset prices were lower, but maybe you should look at the industrial disruptions, wage trends, inflation rates, and interest rates during the Boomers prime earning years. Union jobs were great — until the whole domestic industry your union and job were in collapsed in favor of overseas competition. Pensions were great, if you could work your whole career with the same one; if your firm didn’t collapse and take its underfunded pension fund with it, and if you didn’t want the choice of looking for a better current pay than your employer offered, because pensions weren't portable. And, if you had to job shift mid-career (or even, for late Boomers, fairly early career) you probably didn’t have any of those on the table at all, as the shifts which led to the terminal decline in private sector union jobs, the long decline from the 197ps to 1990s in real wages, and made private sector pensions rare for new hires happened fairly early in the overall timeline of Boomers in the workforce.