Young Generations Are Now Poorer Than Their Parents And It's Changing Our Economies
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- Опубликовано: 28 апр 2024
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The problem with politicians is that most of them are 55-80 yr old guys who don't have the same issues as we do.
And let's be honest...at ages 65+, your mind starts to go downhill. You can't think or remember things clearly, you struggle with self control, and anger, and also emotional control as well. Also...when you're elderly and are in power for a long time, your personality can get corrupted by power and money. On top of that, and the mind going downhill..it's a recipe for disaster.
@kshamwhizzle I don't see what white has to do with anything if you go to Africa they have higher political systems where it's just old African men in the sixties to seventies holding on to power and has nothing to do with race and everything to do with pure greed
False the issue is they have been traitors for at least the last 80 years. The modern political and social order has to come to an end for anything to improve. It may also require loss of tech and industrialization. Like its not a coincidence this cabal all join young and are all connected and incestuous one way or another.
@kshamwhizzle Modern Monarchy disguised as democracy and freedom
65 plus
55 is the age group that should
Be in charge
I stayed in school, I said no to drugs, did extra curriculars, and WENT TO COLLEGE, and after all that I live in a dusty attic in a house full of roudy strangers I met on Facebook. Suffice to say I feel really cheated by life.
You will get ya own spot soon 💯 manifest and pray on it 💓 2023 everything we want we will get 💓✨‼️
Don’t lose hope 😔
Life dosent owe you anything
@@brandond5963 It doesn't but being lied to constantly about a false reality really sucks because nobody told you any better.
Have you tried not buying starbucks?😂
Homes are literally going up in price 100k every year. Houses that were 230k last year are 330k this year. If your society doesn't have affordable housing, your society is a terrible one.
Exactly
That problem is because once people buy a home they start voting locally to block further developments and protect the lifestyle they just purchased. We have plenty of land, but can't get things built on it because of lifestyle opposition. Something ultimately has to give, either employers need to embrace remote work so that people can afford to move away from major job centers or they better accept that costs for talent will go up continuously in line with housing costs.
@@SandyFischler The second a house goes on market, actually before, these huge companies like BR get insider information to purchase these homes. If a home DOES get on the market somehow and it is affordable it gets snatched up by real estate investors, house flippers (who make the home unaffordable after fixing it up with tacky modern garbage), landlords, etc. People use their leverage to purchase multiple homes and rent them out for high monthly prices. The amount of homes that never even make it to the market is close to 90%. It's insane and this cannot go on. I NEVER hear useless politicians talk about this, but EVERYONE needs a home.
Supply and demand ?
@@SandyFischler you're absolutely right
Mega corporations were not buying tons of houses to rent out in previous generations. There are less houses to buy... So the cost stays high.
A lot of it has to do with foreign ownership of real estate. If you control the land, you control the people. The amount of real estate the CCP (and its shell assets) own outside of China is staggering.
Ban unearned income aka Buy to Let.
@@Psilocybin77 yes colonialism ownership via paperwork
Is that the problem or white liberals NIMBYism?
@@Psilocybin77 Don't kid yourself. This is a result of the "Federal" reserve printing money and giving it to their other businesses to buy all of America. But yeah, I suppose you can argue foreign ownership since the people controlling the "federal" reserve are only American on paper if at all...
It makes me so angry and bitter that I had been told all my life that if I go to school, study hard enough and develop a strong work ethic that everything will be alright and I'll be able to afford a home just like my parents.
You've got fooled lol
You've been bamboozled
Your parents fault unfortunately, because they forgot to mention something really important: study something -->highly demanded but hard to find
What did you study?
You were told the wrong lesson. Here is the real one: "Spend less than you make and be well insured." How much you make is far less important than what you do with it.
We don't blame Boomers for their wealth. We blame Boomers for not thinking about generations after them.
Do they ever?
Agreed. They are just a bunch of narcissists who want to hoard everything and give themselves greater security. They think younger generations are selfish and entitled but I honestly think it is them that have these traits.
@@robertmcduck6712 They have stolen the whole alphabet at this rate hahah smh
Not worth supporting anyway.
@Roxygen396 lol, that is your biggest problem now. Not lack of education or good tech jobs, just gaypeople.
You can’t even get the dishonest elders to concede they had an easier go of things. That would upset their false image of being a rugged self made genius!
Yup, that’s why I just say ok boomer.
😢
That's the point. I'm not angry at them being part of a lucky generation, that's great for them. I'm angry that so many of them are oblivious to the luck they had, and believe everyone younger is just selfish, lazy, stupid... And they keep voting for their own gain, even though they have 10-20 years left to live, and still don't care that we already have it way worse than they did...
@Fanny-ge6ge I'm 34 and i think that most of my generation are lazy fucks. The boomers have a point too. Our generation is nihilistic and that definitely doesn't help.
@christopher... We're nihilistic for a reason.
The fact that a basic human necessarily is treated as an "investment" will never not digust me.
Good ol' Capitalism, gotta love it.
@@tim_the_travelerIt’s better than communism
@@SuperSaiyanNaruto2 at least Communism is better then Fascism.
@@tim_the_traveler You basically just said communism is better than communism lol
@@SuperSaiyanNaruto2 I dint know Hitler was Communist. Him and Stalin should of been best friends.
My dad dropped out of high school and then later became a chief mechanic at a coal mine. He made six figures for over 20 years. Now the same company wants their job candidates to have a Master's in Engineering for the same job. With exploding educational costs, is it any wonder that the next generation is lagging behind???
And no, it has nothing to do with work ethic. Young people have always been considered lazy by the older generations. Then they grow up and complain, just like their parents.
neverminded all the useless degrees this generation is going after. Degrees in Social Media, Gender Studies, etc. You can even take classes on Taylor Swift in some Universities. The only useless degree when i was in college was women studies, bc the only job for it was to teach it. Nowadays theres tons of useless degrees and everyone is demanding the government pay off their loans. absolutely a generational problem. This generation cant even define a woman so we shouldn't be surprised when they struggle at everything.
Bonus points for if the company also wants you to have prior working experience and only accepts resumes submitted online.
Edit: also if you need a driver's license and vehicle, even though it's kind of hard have both of those without jobs.
Several universities have been slashing tuition in HALF. Not a few percent, but in half. That should give an idea how much profit the others are raking in - all from students that are swimming in debt they can't currently afford.
Just like how 10 or 20 years ago, ppl can change career but with no prior experience at ease, but with this generation most interviewers gonna find ppl with experience (2 years at least)
I hope millennials will be different when we get to those ages.
Being in Gen X/Z is like being handed the bill to a party you didn't get to attend.
Basically Gen X and above.
As an X having to be a full-time caregiver to my Mother.. I can say it is EXACTLY THIS.
Not millennials?
@@vegbeg9170 Gen X is almost as bad as Boomers tbh
@@spydude38 'the only thing stopping you from success is you'. Anybody with half a brain knows that!
Those of us with MORE than half a brain, however, realize that those words are only ever spoken by people who were born priveleged and/or got really lucky. Success is 50% connections, 40% Luck, and 10% hard work. Stop giving yourself so much credit.
They used to be able to learn on the job, now you need a college degree. It makes me mad thinking about it. They brainwashed a whole generation into believing they need a degree to make good money, now plumbers and electricians are outearning college grads
I wish you just needed a college degree to get a job. Every job I see wants a college degree and 5+ years of experience for a junior position. I don't get why companies want that. Anyone with 5+ years of experience that is still a junior is not the kind of employee anyone would want
If they brainwashed everyone why did some people become plumbers and electricians? Just admit that you fell for the lie and other people didn't
Funny thing, my friend is a plumber and I have a useful degree. I make nearly double what he does. Now if you're a degree holder who works at star bucks yeah I can see why you make less, but if you didn't choose something dumb like art history or English as your degree, maybe you'd make some money.
@@kattkatt6961 depends on region I guess. I know people making prevailing wage and per diem bringing home about 3k a week. Same goes for Crane operators with government contacts. Heck even hauling water in the oil fields okay 3k before taxes.
AND COLLEGE DEGREES MEAN NOTHING NOW...A PHD IS NEEDED FOR MANY, MANY JOBS! SO MANY PHD REQUIREMENTS AS LONG AS YOUR ARM ALL TO DO A BASIC POOR PAYING AND LOW END JOBS!
There is another problem with the idea of wealth inheritance. My boomer father recently died and donated all his wealth to the political parties which gave his generations every financial advantage. The children, grandchildren, and great-grandchildren whose future he stole received nothing.
Ouch. Have any idea how much that was?
That's disgusting he gave it away to a bunch of strangers instead of his own family!
I’m sorry but he sounded like a creep. Sums up both him and the rest of his entitled generation.
What a psychopathic sh't...
That's horrible
When my mom tried to tell me how hard she had it with her first job. She made 900 dollars a month. Equal to about 4500 a month today.
My aunt was telling me about she could barely make ends meet, with her own studio apartment and new car working 30 hours a week at Jack-in-the-box.
@@peteranon8455you can barely afford a studio working overtime in a professional career now
My parents had nothing and they were able to get two houses for hustling just two years in their life...😅
@@peteranon8455lmfao that's a literal dream to us
*guffaws is not one of my favorite words solely by sound alone so I never really use it but
In your moms case - it’s warranted and I’d probably choke whatever I’m drinking out of every hole in my head if I heard that while I was drinking
"You can't run an economy on people waiting to get old enough to finally do something with their lives" such an important statement
At this point, you can't even do that.
I'm 30+ now and I'm finally in the position where I can financially do normal stuff. Not expensive stuff, normal stuff.
A Boomer Rockstars kid never became half the person their parents where. Thats the way nature intended it. Take the sun for example how come there are'nt two stars in the same galaxy that 9 planets orbit at the same time?
Or be it Iron Maiden, MJ, Chaplin, Sean Connery, Queen Elizabeth, Trump, the Clintons, Beatles, Bruce lee, George Lucas or Schwarzznegger, Steve Jobs and Gates.. how come non of their Star Kids went on to become as legendary historic or successful as their Boomer Parents.
🍷Food for thought, Heck when you think about how non influencial and mostly inconsiquential the present generation is made out to be, you realise - Why we dont yet have something to atleast effectively replace the grand old mostly disfunctional United Nations or even the fre*kin, Oscars?
Especially when said with the most hideous accent ever.
@@varunemani Pluto isn't considered a planet and another star system with 8 planets does exist. Also it's not so much that they don't exist, it's that it's difficult and time consuming to prove there are planets orbiting a star increasingly so if you're looking to see if there are more of them
I don’t blame them for taking advantage of the r great conditions they grew up in.
I DO blame them for pulling up the ladder once they reached the top then calling younger generations lazy for not making it to the top just like them.
Yep, like the video said at the beginning, boomers were very much in support of low cost college, housing, cars, medical care when they were young, but then voted in and supported politicians who stripped all of those things away when they got older.
Boomers gave us salaried jobs instead of hourly jobs where you can get overtime, gave us increased college tuitions, gave us the credit score system, gave us the investor class, accelerated every negative aspect of capitalism by de-regulating earthing that would have controlled it, gave us multiple wars, the list goes on.
Just don't lump us in with them. We were the 1st generation to do worse than our parents, even though the younger ones have it even worse.
- Love, Gen X
I agree with you in general, but I would argue that much of the Greatest Generation had the misfortune of entering the job market during the Great Depression. I know my grandfather was less prosperous than his father had been. I think the IT companies tend to keep their offices in “hip” trendy areas of the country instead of spreading them out to areas with more affordable housing. Edit to add: I am also Gen X. I agree our parents had more opportunities and stay-at-home parents.
Gen x is spoiled right along with boomers.
@colestaples2010 You appear to be some kind of self-victimized troll, making the same blamey comment on many channels. I was a college grad who couldn't find a job with health insurance till my 40s. Difference is, I didn't dare ask or expect my parents to help. Our parents just didn't do that. Stop blaming large groups of others for your malcontent.
I think there's a divide in Gen X, with some being closer to boomers and living a boomer life (just look at all the prominent TERFs who are well off and gen X) and then there's gen Xers who got late to the party and have to sit with us millennials.
You might belong to the second group and in that case, have a seat, we see you, buddy.
@@colestaples2010 Whatever. We don't care either way.
My father used to tell me that I have no idea how hard the economy is. He constantly talks about how poor he is, without grasping that he makes well over 6 figures a years, constantly vacations and goes out to dinner. My ma and her husband talk about being tight on money, but they own 4 expensive cars, a fancy motorcycle, and a giant house. It's the same thing with my girlfriend's mother. The all are living so comfortably but feel convinced that they have it rough for some reason. Blows my mind.
I mean your average American is the same way. People be on their IPhone in their air conditioned apartment crying about how poor they are while 90% of people in the world don't even have the luxury of a smart phone and air conditioning
@@brandond5963while true, whataboutism is what hinders problems we are discussing
@@brandond5963 A one time purchase every few years of an 800-1k phone is a bit different than 3 nice cars and vacations.
The boomers standard of living is WILD. It’s so bizarre to have parents that were so much more spoiled by life. It just feels off.
@@brandond5963 the abnormal thing is that only in the western world are living standards declining from previous generations. Everywhere else things are slowly (or quickly) improving each generation
This reminds me how my grandma with a teacher's salary from the 70s has been able to travel more times to Europe than I will ever be able to drive around the country.
I wish i would have been born 30 years earlier
I know a man that travels monthly all around the world and to the most expensive parts of Europe on river cruises, and he also has a teacher's salary/pension. How much must he be getting to afford that? Eight thousand a month? More?
@@NFS0038 J Peterson also has a teachers salary. He's also a multi millionaire.
@@parrotshootist3004 J Peterson has a professor salary which is generally two to three times a teacher's. Also he happens to not just be a proffesor and has other forms of income
My grandma asking me why I don't go travelling... 😕 I'd love to. You paying for it?
What irritates me the most about them is they refuse to retire . Like no one can get the jobs unless they give them up but they are so programmed to work . And so many of them force you to move at their pace and so many of them are out dated with their mentalities . It’s time for them to retire . Should be no reason to be 80 and still forcing yourself to work just to say you worked at a job 50 years .
A lot of us older people would love to retire! I was supposed to retire at 60, but the Tory government under David Cameron whipped that one from under our feet. Suddenly, the retirement age was upped to 65, then up to 67. Many women in the UK did not have enough contributions to get a state pension, not through their own fault. Look up WASPI. My husband and I and other friends our age believe it is much better for us to retire at 65 as we are slowing down and let young people with energy and strength get our jobs. You are more productive than we are now.
I dunno. Both my parents retired early in order to travel more and enjoy life. Making sure nothing is left behind. Because "they deserve it".
People live longer now so they should be retiring later.
They also cling onto old ideals and cost their organizations money because they can't get a grasp that their methods are outdated and actively detrimental.
@@fraglsnitz yeah, although that can probably said about old people in general?
They cut the saplings down for firewood.
My grandfather worked on the line at Ford for 40 years. Had 5 kids, a paid off house, 40 acres of farm land, farm equipment, vacations, cars, modern technology in the house (for the time), and healthcare. All that as well as a giant amount of money sitting in his bank account and a stay at home wife who generated no income…….Try that today working at a factory…….
it's not possible period.
Same, and then we are told that we are just lazy cause we can't do that same thing. And then they criminalize people for losing their house when interest rates go up and companies lay off tens of thousands of workers. Or when covid hit and everyone lost their income/health insurance during a pandemic.
Meanwhile my wife and I make $130k combined and live in a one bedroom apartment with no kids or car at 42.
@@ChrisJohannsen my wife and I make 160k a year total, still cant afford a house (and thus no kids) at 30.
2 medical degrees, chemistry degree, welders cert.
Had a dude tell me "your priorities are skewed" because I have a dog. Apparently pet food and vet bills are why I cant afford a house.
And not the fact that a house worth 250k 15 years ago, sells for 1.5 million now.
@@JustinWilliams-ed2ug It's just economical. I've got a mate what lives with his parents at 35. He's set to inherit the house when they pass (they had him late and are mid 70s).
He beats himself up too, but none of us can control the economy. Him living there rent free (he's the housekeeper to "pay" rent) just means he can save for his own future. Which is what his parents want for him anyway.
Certainly better than my situation tossing 2200$ a mont away on rent.
You shouldn't beat yourself up either.
Our parents bougt their houses in full, for less than 1/4th of what a down payment is now.
I can’t even imagine living in a world where the prospect of buying a home was a practical, affordable endeavor.
Well thank your local liberal for that.
Do you favor continued immigration into the United States? That is what has ballooned housing prices. Building huge suburbs after WWII created a housing surplus and cheap rents and prices in the 1950s-1970s.
High rates of immigration has turned that surplus into a shortage, greatly increasing prices.
Did you, for example, vote for Trump in 2016 and 2020? If not, you have been getting what you voted for. Don't complain.
@@SeattlePioneer it's not immigration, it's that people aren't building houses to accommodate youth anymore
@@SeattlePioneer I didn’t really make my point straightforward in the other comment, I’m a moderate I have both conservative and liberal values, I’m saying that it was a joint effort between both parties not specifically one. Its not black and white bad guy good guy. I’m not attacking conservatives I think trump had a lot of good policies he just didn’t present himself well, and he also had bad policies. I enjoyed the economy while he was in office but it could be much much better.
@Monty Kronik
Not just illegal immigrants. Legal immigrants have ballooned in numbers since the 1970s and have turned a housing surplus into a housing shortage. Illegal immigrants contribute to that as well.
Present estimates are that twelve million people reside in the United States illegally. Do a thought experiment:
Imagine that they all disappeared tomorrow. What would be the result on the availability of housing?
QAnd that doesn't include millions of legal immigrants and their children that have ballooned the population of the United States for half a century.
I imagine that Democrats and liberals are looking forward to a population of a billion people in the United States by the end of the century. Assuming that is true for a moment, what would be the impact of that not just on housing, but on roads, hospitals, schools, wage rates and such?
Imagine every new immigrant entering the United States coming with a bill for $1million in new investment to create an American style style of life for that person.
Alternatively, if we don't pay that $1million bill for each immigrant, how will that water down the availability of housing, health care, education, transportation and such? Isn't that what has been happening over the last half century? We have FLOODED the country with immigrants beyond what the infrastructure we have or have built can support, and everyone suffers as a result.
Many of us here under age 50 have more education and “skills” and “experience” than the prior Gens, but they had an easier time working the same hours and acquiring the same basic things.
It's really funny when the guy intervieweing you expects you to have all sorts of degrees, then just to make small talk you ask them where did they get theirs and he just tells you "Oh no I just started working here at 15"
You gotta admire a ruling class that has us pick fights with one another - on many issues - so we don't notice that for the last 40 years they have been stealing income and wealth from everyone else, old and young.
Bingo!!!!!
Yep, politics of division. It never ceases to amaze me how many people are baited by "woke" propaganda. Instead of focusing on your stupid Disney movies, think about meaning in your own life, and how you can improve your life and those around your immediate self. I suppose it's easier to focus on things that don't really matter, instead of educating yourself about the real issues that are destroying your life. Having said that, Conglomeration of media is a massive problem, but it goes far beyond everything being "WOKE".
@@Psilocybin77 yeah, the whole woke think is created by the ruling class. Netflix isn't leftist, its a private company in bed with banks who buy govt. They show us extreme cases, and claim that's the normal opposition. And they do it both ways. "woke" does not have a specific meaning, and people put whatever they want into it.
and which generation are this ruling class mainly?
On most topics I'd agree, but I terms of generations specifically, no. Boomers actively and explicitly enabled this. They destroyed our senses of self worth by telling us we were nothing. They willfully chose, en masse, not to educate or support their children or grandchildren. Their spoiled backgrounds have made them narcissistic and uncaring to the needs of anyone because they were brought into this world with a highly individualistic mindset. They gave us terrible advice that ruined us, blamed us for problems outside of our control, and they'll throw you out like trash if you dare threaten their perfect kingdoms of authoritarianism. I've met SO MANY millennials and gen z folks who were thrown out of their houses because their kids dared to have opinions.
Boomers were specifically born into a spoiled life unlike anything this country has had before or since, they never learned compassion, and they actively choose to make our lives worse because they've never not been hateful. They were called the "me" generation before they were called boomers. So no, in this specific instance, this isn't just our media fostering hostility to keep us distracted, our grandparents are practically doing that job on their own, and it's a systemic issue.
The worst part is the entitled boomer who ice skated through life, then says that they aren't saving anything for after they're dead because "they want you to make your own way", even when their own parents died and left them everything.
The worst part is you just making people up that don't exist
@@jsebby2284 The sad part is boomers like you who cope and pretend that I don't know people like this. Just look at Bill Gates, who is going to donate his entire fortune after his death, leaving his kids nothing.
You are so friggin delusional. I lived in the suburbs yes, but my parents couldn't even pay for my wedding let alone leave me an inheritance. There was such a thing as being called house poor. Owning a home in the suburbs that you could barely afford. BTW I live in a Hud subsidized 55+ community on my social security alone. Far away from the suburbs of my youth. Get real.
@@user-qf8zy2gf3l The fact that they're dead and don't need it anymore, that's what. Dumb question.
@@jsebby2284famous actor I believe did exactly this.
Ah yes, my favourite solution for an entire generation’s suffering.
“Just continue to suffer for years until someone you’re related to dies and hopefully leaves you a fortune.”
Genius.
Something that wasn't even touched on in this video is how much the Boomer generation is squandering their wealth because predatory assisted living/retirement corporations bleed them dry for every last penny before they die. All that money being sucked up into the bank accounts of some boardroom that will never be seen by the next generation. So many boomers are dying penniless or in debt because they unwittingly signed over everything they own because Tom Selleck told them a reverse mortgage is a great idea.
It is genius.
It allows money to stay with "desired" groups via inherited wealth you see.
You know what I'm talking about.
Yeah it's pretty fucked, especially because a lot of boomers are so twisted on the inside from a long life of unprecedented selfishness that they often sign away their amassed fortune to charity when they die to help with the deep seated guilt...
And that's exactly why the pulled up the ladder. It was by design...but it's hurting the masses, not just the "undesired" groups. Just like the free land for Europeans. Nobody else got free land. And now the idea of Land Back or reparations (beyond those already paid to europeans for ending chattel slavery) is totally rejected and there are no [more] "handouts." The people who built the country and the people who own the land get nothing. Meanwhile all that land is still being passed down for the European families. Racism is also the reason the boomers have blocked fair public education funding, rent control, livable wages or socialised medicine. If they would confront it we can all get free.@@kutlumzrak2689
It was my mom for us. An admin assistant with a 2 mil esop account. Its in stocks and bond until my dad kicks it, and he doesnt spend anything, but i would much rather have her back.
It's crazy that best generation created the greediest generation
There is a quote that say: Hard times make strong mens, strong mens make easy times, easy times make weak mens, weak mens make hard times.
@@Pengouinnmens?
@@thetrueking4265 mb im not a native english speaker
I find it problematic that so many people are college grads but hardly anyone knows how to do anything practical. There is a critical lack of people with basic skills in carpentry, electric, plumbing, gardening, etc. We need to encourage people to get technical skills at two year programs. Last month my refrigerator's icemaker broke. The guy charged me $300 to fix it - in 30 minutes. That's $10 per minute! Meanwhile my neighbor got a degree in art history. He works as a pizza delivery driver.
Mike Roe does an absolutely fantastic job on just how much the commie school system has completely and utterly destroyed society. Schools are only for brainwashing; propagating commie propaganda to young impressionable idiots and then releasing them into the world, more stupid than when they have first started college.
If I had a dollar for every time boomers say millennials are lazy...I could fix the economy they broke.
More than that, you could fund everything so nobody is poor and everyone is living middle class, and fix the economy if you had a dollar everytime you heard that!
@@zenberryflood indeed!,
..plus we'll have more than enough $ left over, to order a pizza! It doesn't get any better! 😆
Just saw my Boomer grandma post that Gen Z is lazy. They blame everyone but themselves for the shithole we’re in.
@@XanderShiller don't you mean avocado toast? fake millennial spotted psssh
Well here's a dime. Ano another one for gen z or wherever we are. Lazy af.
My parents were able to buy their home for $91,000 AUD, my fathers wages at that time was $60,000 per year as an electrician for the Navy. That same house is now worth $800,000 and that same job still pays $60,000 per year, and then my parents wonder why I am not getting married or bothering going into debt slavery just to buy a tiny one bedroom house in the middle of no where.
Show them the math. Lay it all out, explain your concerns about being able to support a family, and ask them exactly what they think of it. Maybe this will give them an idea of what you are up against.
@@user-kl8lo6rj5iI'm going to do this thanks for the hrlp
A large part of the worlds population live in shacks with dirt floors. Stop whining.
My (also Australian) father claims that wages have increased 10x since 1992. It's amazing what you can't see when you don't want to see it.
@@shakinbottles In my experience, they just screamed over the top of me and accused me of being a Nazi (?).
You missed that, at least in the US, in the 80s when the interest rates were so high the entire interest portion of that housing payment was tax deductible.
They missed a lot of other things to.
In Mexico its pretty much the same: wife and I (shes a psychiatrist and Im a aesthetician) are paying mortage for our own apartment and were barely making it, my life long friends are, on their majority, also professionals with degrees, but some living with their parents or RENTING a department (not a house, department) with other people.
Living today is so hard and so expensive.
I've been telling my parents this for decades. The greatest generation sacrificed for the baby boomers, and then the baby boomers got spoiled and raided everything that was left.
But did they ever heed your words?
@@lexquezon9009 in _this_ anti-neuron-function hellhole? Cute joke.
Actually boomers didn’t grow up with much, they faced the Vietnam war draft, had several recessions as soon as they start their careers, hit massive inflation in their prime, had ultra high interest rates, and when they had kids, they spoiled them, especially kids born in the 80s and 90s. These kids sucked off their parents as long as possible, and now these children in adult bodies blame their parents for everything they are too lazy to achieve . The entitlement is unreal! Millennials have no clue how good they had it, and the generation that was once cocky when starting their careers, are now feeling the pain, and instead of manning up, they whine like little babies and point the finger at their Mom and dad. Sooooo pathetic! I have lost all respect for millennials, and GenZ is even worse. Sorry, but you folks never grew up. You are adult children.
Younger generations than the baby boomers are just as spoiled as you think the boomers were, and more than likely a lot more so.
@@mcmlxii4419 EXACTLY
You can literally compress this whole thing down into one sentence.
"The boomers pulled the ladder up behind them."
They didn't though. So I guess you cant
A large part of the world's population live in shacks with dirt floors wondering if they will get one meal a day. Another tens of millions have to worry about being shot in a confilct zone. You are some of the most entitled and well fed people in the world. Stop whining.
Yes, their "itinerary for success" was largely a myth, misinformed, some pie in the sky ideal, or outright bullsh!t.
It would never play out as they'd foretold.
We never had the same environment, it never worked they way they'd claimed it did.
They invented the whole "EFF you I Got Mine" mentality.
With a sprinkle of "bootstraps" thrown in.
Lotsa student debt instead of mortgage, and starting salary less less than most retail/service positions.
So, it is my fault because of my age? The gov program of divide and conquer has worked well on you. I didn't have a ladder and didn't pull it away from you--gov policies have done that.
@@georgenelson3719 I would agree with you but blaming everything on the government is getting pretty old and boring.
“Hard times create strong men, strong men create good times, good times create weak men, and weak men create hard times.” - from a postapocalyptic novel by the author G. Michael Hopf
From Tim Watkins' blog "The consciousness of sheep" ruclips.net/video/Atr6z9AWW0s/видео.html
The generation that ate well- life is like a buffet. Left the rest of us to fight over their scraps and crumbs. They didn’t even bother to clean up after themselves.
Boomers: "Woah look at all the trees my ancestors left me! Who wants to buy lumber?!"
So you're going to plant new ones?
Boomers: "No, no handouts. Grow your own trees like I did."
They didn't know the Global Financial Crisis was coming any more than we did. If it hadn't, WE'D all be lured into a false sense of security too, and then us Millenials would be blamed by Generation Z for us not thinking of them because of Covid. What do you want us to do, you know??!
And that's facts
Amen! That's it in a nutshell!
Perfectly stated.
shalalala shom shom shabom You know what the advancement of technology has also done? It has greatly increased productivity, but wages haven’t kept up with inflation despite that, all the money generated goes to a few billionaires who own everything in the US, including the politicians. Rampant corruption, reaganomics and a very self-serving generation (boomers) have left us all in this mess.
Had an older guy tell me that youth was wasted on the young. I told him that wisdom was wasted on the old.
Hahaha I will use this
Gold
that’s a good point
well, he was wrong (not to mention unoriginal) to say that. But wisdom is not wasted on the old, or anyone else -- wisdom happens in many ways, at many ages. And sometimes doesn't, which seems to be that older guy's case.
That reminds me, my junior year special ed teacher who was born in 1953 actually cried a little bit because he knew his generation is the reason why generations now are this today.
but they aren't. The earth had existed for a very long time and you are blaming what a small group of people did for about 20 years and saying they are responsible. Complain though. We did. The generations complained about older generations. Someday, Millennials, younger people will be griping about you.
@@monabiehl6213 actually they are the reason why we are this today. Look up policies made when boomers weren't in retirement like the 80s. Reagan economics isn't helpful
Just not true...... you have not studied the facts.
All you have to do is have a chat with them. Unrealistic, self-centered, entitled, inundated and petty. It pisses me off that they cannibalised their own children and still hold power over us and exploit it without hesitation.
I worked the exact same job, through the exact same company for the better part of 5 years that my father worked. In a year or two, he was able to buy a home back in the mid 70s with just his income. I couldn't even afford rent and groceries in a one bedroom. He was always making comments like "You've got to manage your money better!"
So I brought him my paycheck, and bills, and asked him to help me budget. He never again made comments like that, after seeing the reality in paperwork. He kept shaking his head and saying "Somethings not right with this"
Yeah....I'm essentially working with 10% of what you had, and 5% of the opportunities you did.
Thank you for showing proof and not just taking that abuse. These older people need to see the evidence and wake up.
And good of your father to at least state to you that he was confused after seeing the evidence. Most parents don't even want to hear the explanations because they see them as 'excuses' and won't admit their view of the world is no longer correct
Population boom and easy immigration increased the demand, while zoning and construction restrictions dwindled the supply of houses. The opposite happened to the job market, increased supply of workers, and technology bleeding off the demand for actual people to fill worthy jobs, kills the job market.
@BEATNiK B.A.E has CHUTZPAH!!! $700 BIWEEKLY?!?!
@@angelvu BAHAHAHAHAHA LOL WAT!? 😭
Something I’d like to share is that what allowed baby boomers to thrive wasn’t them, technically, but the generation that grew up in the Great Depression and WWII: they made all the policies to ensure great life for their children because they knew scarcity, and that’s what made the boomers early life so successful. When they got their chance, they just screwed over everyone after them because they believed the prosperity was forever; they grew up like that
Dude exactly. Their parents went through real hard times and wished for the best for their children.
The boomers also lived through one of the best times to be alive in USA/Canada. Less global and local competition. Industries back then aren't outsourcing their labor in cheap countries or sponsoring cheap immigrants to come and work. This made their employers more willing to accept their boomer worker's demands and respect their rights.
Then there's the cost of education. It was way cheaper back then relative to the economy. But thanks to student loans, it became very expensive now as educational institutions took advantage from the infinite money being loaned by the government.
Also the cost of living had increased. Prices keeps increasing and salaries are struggling to keep up. We also need more to survive the modern world. Everybody needs atleast a laptop and a mobile phone with paid subscriptions to do anything.
Harsh times make strong people
Strong people create prosperous times
Prosperous times make weak people
Weak people create harsh times
- cant remember who said it 😳 plus probably paraphrased
Interesting point
Certainly not! We listened to that younger generation that was APPALLED by "white privilege." We didn't want to burden you with that which you you found so offensive.
So we keep spending our filthy lucre on ourselves so as not to offend you young folks.
@@SeattlePioneer I’m not sure you know what white privilege is? I mean if that’s the case just donate to charities that fight racism and support black people. Also why did you copy paste the original comment? It’s not that far to scroll up.
What sucks is our parents were born and raised to think it is normal to move out and live on your own when your 18, but they don't account for the changes in our lives compared to theirs. So to have those high expectations on teens who live in a fucked up economy is really tough.
Agreed!!
They still had factory jobs that paid liveable wages to people regardless of education level back then.
Assuming of course, that your parents were either boomers and/or older Gen-X like mines.
This
That might be true for some countries, primarily the US, but that isn’t the norm everywhere.
Lota of children remain with their parents until they can afford a home or get married.
My mom literally started to charge me rent when I was still in high school and before I was 18.
Both of my parents fought viciously with their siblings over what my grandparents left behind. They then told me very directly that they were not leaving me anything.
If that isn't peak boomer I don't know what is.
Disown your parents.
@@Decoffeee-ky4ch 😳💀💀
put them in nursing home with their own money
My sympathies extended. Greedy b*stards, even for THAT cohort.
@@someone2084 That's basically what the parents are saying they'll do
Crazy that people buy homes as investments and not as places to house their family
Capitalism inevitably leads to monopoly and an unfair economy unless the state does something but nooo that's what communists do 😂
"Continuous supply of workers" screw that, i refuse to produce more golems for you.
I’m terrified of having any kids as a millennial. We can barely afford taking care of ourselves
Good observation..
It’s sad, for people who want kids, by the time we can afford them in this generation we’ll be largely infertile due to age.
My thoughts exactly. Very sad... I think.
One and done. Replace half of yourself
im Gen-X and I definitely can not afford to have kids.
Not in the United States, anyways...
Im a milIennial and I work in a field where I have to go into peoples houses, millienals always treat me with respect but boomers always give me so much disrespect. You can see whos really entitled and spoiled rotten and whos not.
I’m a gen z and I work in retail. And not once have I been verbally assaulted by anyone in my age group (I’m 25) or near. It’s always the people over 50 but yeah we’re the disrespectful ones 😂😂😂
Respect is earned; not an entitlement. If you treat others with decency, they will respond accordingly. There are arseholes in every generation.
@@bansheewhiskeysays the boomers who challenged Vietnam and will speak poorly about Reganomics while also benefitting from those policies. Also, the “greatest” generation is a fallacy of our grandparents who basically just cleaned up what the ruskies died for, not fighting nearly as hard as the Eastern front but want to be seen as they did all the heavy lifting in WW2. Boomers and their parents will always pat themselves on the back for accomplishments handed to them while belittling their children and grandchildren. Boomers are the more narcissistic generation, love themselves and hate anyone not them.
Millenial here. Yea whenever someone has to enter my house to do maintenance or something I always just let them do their thing, bother them as little as possible, offer help if needed, and offer something to drink if they want.
They've been poisoned by lead, its noticeable in a lot of patients I treat. I stopped considering them as humans and it gets a lot easier to work with them. Barking dogs and squealing pigs the lot of them
Blame overwhelming corporate greed, not your grandparents. Unless they happen to be hedge fund people.
Nah, that's not it, but you can go on living in a fog if you prefer.
Growing up, politicians would ALWAYS say,"We're just pushing the cost of this legislation onto our children." This was a constant mantra in opposition to just about everything. Well, here we are.
It's more than that. You also have to remember that in 1991, 2000 and 2008, the government bailed out companies to save the stock market. This was to protect boomer pensions and that cost was past onto you. After 2008, the Federal Reserve did QE1, 2 and 3 essentially printing trillions of dollars in order to buy government and corporate bonds. This was all debt taken out in younger generations name without our consent. Interest rates were kept at near %0 which drove demand for housing causing house prices to sky rocket.
Just because some idiot politician said something, doesn’t make it true! The reverse is most likely true, because politicians lie ALL THE TIME! Yet you’ll believe anything your fearful leaders say!
NAILED IT!!! Look at a Consumer Price Index. Nixon cut ties to gold, starting the procesa of making currency worthless. YOU GET A GOLD STAR ⭐️ FOR YOUR ANSWER! ☺️
Well they were right. But being right doesn’t mean you win.
Haha I was born in Canada in 81. Our politicians shut their eyes, lifted their chins, and said, "if young people voted, maybe some of their concerns would be addressed." They're just now getting around to acknowledging citizens without gray hair exist and pretending to address some of our concerns. edit: to be fair, by "just now" I mean "around the 2019 election."
I remember when my parents could buy a full tank of gas, a weeks worth of food and pay all the bills while having enough money to treat me and my siblings to a few bowling games. Nowadays, I earn the same as my father did and can’t even afford enough money for food.
I think I'm going to forfeit. It's not working out.
@@blockinglowtier Well, suicide rates are climbing massively in recent years. A lot of people acting on that very thought.
@@someone-ji2zb this will continue to increase as well.
@@blockinglowtier nien no suicide only revolt
@@blockinglowtier Don't give up, help us make a change! if you got nothing to lose, lets at least fight against it until our last breath.
There should be a tax on all non-productive assets.
The proceeds should be given to people who produce stuff.
It will disincentivize pouring money into non-productivity, and reward people who get sh!t done.
The real problem lack of wage growth to keep up with inflation, and the devaluation of the dollar.
Inflation hasn't outpaced wage growth
@@jsebby2284yes it has. Wages have stagnated for decades.
@@baneofbanes no it hasn't. You're just factually incorrect
As a member of Gen X one of the things I've observed in the Baby Boom generation is a tendency of Boomers in the highest earning and most powerful job positions to not retire. This is effectively blocking younger people from moving into these positions before they reach retirement age.
Why would anyone who is earning the most and having the most responsibility want to step down and retire?
And? Excuses are like buttholes, everyone has them. Make it happen or sit their and cry the victim cars. boo hoo! foh!
@@rockingredpoppy9119 the world doesn’t evolve about usa. Why americans you only talk about yourself, this is a world wide problem!
@@desertmoonlee6631 U.S.A = merica the great......
U.S.A. is slowly losing its relevance on the global arena. Actually the slide began after humiliation in Vietnam.
GeoPolitics fwks all humanity. You are not special.
Then again your country elected a grifting reality TV fellow who can't pay taxes or abide by regulatory findings.
My husband and I are older millenials. We did well in school, both of us getting 4.0 for associates and bachelors. Worked and paid for our bachelor's degrees out of pocket while starting a family....my husband got masters (with a loan less than a used car) and we still cannot afford a house. Mostly because i stay home with our kids. The schools in our area are so bad, their scores so low and the kids are so uneducated, we couldnt justify me working rather than schooling the kids myself. We chose the kids education over a house. We live in a 800 sq ft hunting cabin with no bathroom (outhouse and sink baths). All of this was or choice. We stand by it.
My boomer father says i married a loser because we dont have a house yet.... the audactiy of that generation, and they call us entitled and lazy.
Coming from an uneducated equipment operator who owns a house as a young millennial. Clearly you guys made mistakes.
@@vizzo1138Your job will be gone sooner rather than later. Better start saving up, assuming the whole uneducated fiasco doesn't get in the way.
@@vizzo1138 or maybe they just weren't quite as fortunate as you? I don't understand the smugness of such comparisons.
@@SlumberBear2k Slaving away 13hrs a day in the summer heat and winter freeze is not fortunate. Choosing to not have children till I was established is not fortunate. It was just decisions that were made properly.
Most people lives suck because of bad decisions. Get mad about it if you want.
you need to do an addiion you build yourself to get indoor plumbing at least-thats how our parents parents ended up in multibedroom homes with indoor plumbing they tacked on one room at a time
Short answer? Yes. Long answer? Yyyyeeeeeeesssss.
Lol, Prince Charles paradox is great for visual reference. Good video thanks for the effort
My mother-in-law said both of the following in the same minute: "We shouldn't be paying people not to work" and "I shouldn't have to work at 73 years old". The media machine has ruined their minds.
I mean yea, she is literally a brainwashed person
I'd argue their minds have ruined the media machine. The media relies on viewership. Viewers watch whatever they want / whatever is most entertaining. Fox News, CNN, etc. viewership demographics are highly skewed towards older people. Media is not the problem, nor are they the solution. They're entertainment at the end of the day.
@@destructionman1if you follow this thought to its natural conclusion you find that people are typically dumb asf
Economics.
You pay people not to work and they can afford things that people who work can afford. That leads to higher demand and that leads to higher prices and that leads to savings reducing in value. So yes, both can be true, no mental disorder.
And WE LITERALLY are paying for her to be this way 😅
Hiring practices are ridiculous now too. The job that required a high school diploma when boomers were coming of age now requires a master's degree with those same boomers at the top. They don't want to train anymore or give new graduates a shot, unlike the generations before them. Education inflation is a real issue, and no one should have to do so much free work before someone deigns to pay them under market value as a "junior" employee for a few years.
Not only that, but the price of education as well
Back in the 50s you could become an airline pilot on less than $10k
I'm going to be paying nearly $120k once I finish my CPL training, then another $40k on top of that if I want to upgrade to ATPL
rich parents buy their kids' job training
(predator skills) then find they must buy the kids jobs
Don't forget that the now low level job (entry level jobs) require a minimum of 2-3 years of experience. Even if we had the educational requirement the experience requirements is rediculous nowadays.
A lot of my old college friends couldn't get a single company to give them training even for FREE, companies now don't want to train new people and they don't want to hire someone to do an "on the job training" or lower their experience requirements, it's really frustrating having the will and ability to work and find out that bariers are placed on purpose infront of you.
@@mimosakura795 Currently having that problem. With my education, I can work as a curator, educator, designer, researcher, conservator etc in museums, art galleries, natural history museums, auction houses, nature reserves, antique buildings, monuments and zoos. But every job requires at least three years of exsperience. They even often speficifcly ask for people who attended my college, as we're the only one in the country that teaches the skills they desire. I've joined at least seven jobhunting sites now and actively seek for oppurtunities and frequently ask around as well. No luck so far yet though. I did manage to apply for a few jobs, but all were rejected. I'm currently working on some personal projects and doing some freelancing in between for small things. I got all the educational requirements and even some other impressive achievements on my resume, but its the exsperience entry that kills it.
@@megadracosaurus yup, this is the maim thing that's hindering the job search market not to mention other minor things.
But the experience requirements are the main thing that's stopping youth from getting actual good jobs.
Adults would just complain "why can't you get a job like I could 20 years ago?
Like if I could I would!🙄"
The best thing is my parents are wasters so not only will I be left with nothing when they die, I have been crushing 70 hour weeks since I was 18 just to inevitably put myself in financial ruin caring for them when they are retired.
Do not take care of them.
Don't blame a whole generation for this mess. We all know it's greedy corporations, banks, real estate companies, and politicians creating this mess.
Blackrock, Vangaurd, and others.
The Baby Boomer generation holds the distinction of being the generation who pulled up the ladder behind them.
YEEEP.
and they see nothing wrong with it.
Ridiculous. One more excuse from the barista.
@@747driver3alright, you be the barista then, enjoy
@@sushikazuki5945 that’s my point. You don’t have to be if you work hard for things. Laziest and most entitled generation ever.
@@747driver3there was a lot of leaded gasoline in the water supply which is why you are the way you are😂
"Kids these days have it so easy."
Says the retired boomer with no education past high school while leaning against his $70k Ford F-150 Raptor parked outside his $1.2m 5-bedroom McMansion. Meanwhile his 30 year old kids with graduate degrees are grinding 60 hours a week to afford rent on the apartment they share with 3 roommates.
Pretty much. The most effective thing is to move out of country. You can also buy the cheapest land and live in your car there
Sounds about right
I just visited my family in the Phillipines. Honestly most Americans wouldn't make it 2 weeks in a developing country. You have it amazing in the US even if you don't realize it.
@@imveryhungry112 It depends. Would I be a rich Filipino or a poor one? Rich people in third world countries have it pretty sweet, actually.
@@jeffreysnyder290 yeah actually that is true
It’s not whether college is free, it’s whether future job is considered in degree choice.
Look at the houses built in the 50-60’s versus houses built today. They are not in the same class
I live in Romania and here most of us have the reverse situation: dirt poor boomers and millennials who are doing better than their parents, but not good enough to keep up with the expensive lives we live today. So we're left with this conundrum: If I'm in my thirties, how do I afford 1-2 kids while my parents are aging and can't cover their expenses. We're basically sandwiched between the financial needs of the generation before us and the generation after us. Many can barely take care of themselves. Others are not having kids so they just support their aging parents. Others neglect their parents to focus on their kids. And then there's a minority who earn well enough to do both.
Then people wonder why our generation is so depressed. Most of us will never be able to afford a house, will die before retirement since it keeps getting pushed back and the few who live until there will already be full of health problems due to overworking and will live in misery. I already saw this happen with my grandma who is 65, raised her 3 kids alone, worked a lot her entire life and she still lived in poverty and still does. She has to choose between her meds and food every month.
Wait. Isn’t she of the much hated selfish planned-to-ruin the next generations Boomer generation? See- you see the reality. Boomers many of them- are hard working struggling people. Some j-a** wrote books and made millions convincing a bunch of younger people all Boomers suck. The authors have created a huge amount of hatred. Really terrible. But they made THEIR millions. Glad you see the truth.
Your grandmother lives in poverty. You must be so proud. I've paid my parents bills from the moment they retired, because family means most to me.
@@jonnyspeed8974 You don't know anything about my family, so don't come here with your stupid assumptions about me. We do help her paying the bills, food, meds but it's still not enough and we are all poor so there's a limit on how much we can help. Plus she's very stubborn and more times than not doesn't want any help. If you can afford to always help your family good for you but we can't.
@@jonnyspeed8974 ok and? the person above might not have the means to pay for those, thats the whole point of the video.
You can, you're just spoiled. You all want to start at the finish line. You want the $500K+ house NOW. My parents and in-laws all started in rough neighborhoods with crappy, inexpensive housing. They kept working, saving and moving up to new and better houses before they died.
Ten years ago when I was in college our professor was discussing this with us. She was telling us that we are the first generation to struggle more than their parents and that her generation (boomers) like to say they had it rough. She straight up told us it was a lie because the economy had spoiled them. Now society is catching on.
Good professor
Gen X is the first generation to be worse off than the previous one.
@@belkyhernandez8281shhhh, don’t say anything that might challenge their perception of being the most important generation in human history.
It's called gaslighting
@@belkyhernandez8281 I'm not sure that's actually true. You're the first person I've ever heard make that claim, and when I searched google for Dr. Belky Hernandez, I couldn't find any of your peer-reviewed articles, so I need a better source before I'm inclined to grant belief.
I'm 53 years old. As a young boy in California, I would often hear older people justify spending with the phrase, "we owe it to ourselves." We'll be paying for that sort of thinking for a long time to come.
Ladies and gentlemen we ain't getting an inheritance let's face it.
"Kids these days have it so easy"
No, they don't. And even if they did, THATS THE POINT. That's why you have kids! That's why you work hard, so the world you leave behind is better than the world you were born into!
If you have kids in todays times you are a SCHMUCK!
Ikr- they're so dang selfish, and clearly don't understand that their actions have consequences.
At this point I'd feel more guilty than joyous if I ever brought a new life into our corrupt world today
People have kids so they can extract love from someone who can't escape. After they're done using you for that, they have no use for you.
@@benjamindover4337 true for 90% kf parents today.
Coming from a Gen Zer who just started college it comes down to this… we already had a growing sense of cynicism and nilhilism about society that sort of cemented it’s self during the pandemic. Why give your life and energy so much that it drains you to this job that doesn’t value you. If you died on a Monday, buy Tuesday you will be replaced. And some will say that that is simply life but it’s disconcerting. You give up your entire life in hopes that you’ll receive good benefits so you can die old and happy. As for us, reaching old age seems like a fantasy.
Oh yeah that's a huge agitation for me, people acting like going to work is some kinda religious experience,
Bro as someone who is a fan of work ethic I'm not delusional about it ...
Everything you said combined with "what am I contributing too"
The way it's supposed to work is the people at the top do their job and look after you while you go do the smaller jobs this leads to everyone's needs being met ...
In reality through the government and media mock you on a daily basis and make it clear you are powerless and they will do as they please
Where does the motivation to work hard come from ? Why should the janitor care if the ceo doesn't !?
You need to give people more than a paycheck if your asking em to grind like that ...
@@gtt8428 if people in general but especially those in charge stopped treating employees like they are expendable maybe this problem wouldn’t be so bad. from the outside looking in as people who are just starting out in the workforce, we don’t want that life where we wake up every morning to chase a check just to attempt to survive until the news of the month and hope that one day you will reap the benefits in the form of a sad little social security check.
I’ve heard older people also say that my generations problem is that we rush into things, which is true. we’ve grown up seeing them struggle in hopes that retirement will grant them some sort of peace. many of us can’t picture ourselves living that long so we want it now. what’s the point of the grind if you’re basically grinding ourselves to nothing but it’s supposedly contributing to this great nation
🎯 the rat race that we see in front of us is crazy and leaves you thinking what I’m I doing this all for ?
@@zekehall1 and that’s literally what it feels like and it’s disconcerting and frustrating
What’s the real difference between you zoomers and the boomers? They started with nothing and worked for everything they have. You started with everything yet you still complain.
The boomers work on a simple mindset "GIMME THAT ITS MINE! YOU SHOULD HAVE WORKED HARDER!"
We are paying to replace infrastructure that hasn't been paid for in the first place. In Canada the weather is extremely damaging to everything.
I remember sitting in a doctors waiting room a couple of years ago. I ended up chatting with a lady in her late 70s/early 80s. I ran a pub at the time (an industry where there is very little money to be made as all the pubs are owned by companies which let them out at extortionate rates and tie you on alcohol). it turned out she and her husband had run a pub back in the day too. Just a local 'basket of chips and a pint' deal. I was moaning to her about the state of things so she decided to give me the sage advice of 'making sure to buy a few properties' to feather the nest for my old age. The young receptionist must have overheard this too as we shared a look of disbelief. This old lady really thought it was still feasible to buy a few extra properties as an additional income source. it was terrifying to see just how out of touch she was with the current day realities.
And one of the reasons we can't is because of people like THEM buying ALL the property!
@@Chokah It's almost like people hoarding valuable commodities that previously were not held by all the same person is a problem. Strange.
This is why we can't have older people in government, they can't even use a smart phone..... let alone run a country
My grandparents that lived in Arizona said the same. So did my father. Just buy some cheap houses and rent them out. Like dude me and my wife with full time decent jobs can't even buy 1 of those houses and property. This was only 15 years ago where you still could buy them with 120k to 300k. Now in my 30s those same places and homes are 500k to 5mil.
Well, you COULDA liquidated some paintings!
I have a Boomer neighbor who owned a construction company before he retired. He constantly complains about the “good old days…” but immediately follows it with surprise at how millenials can stay sane in today’s economy.
So like, he says the good old days sucked?
@desuretard8654 I think he ment that the good ol days had a better economy, and now its bad and effecting upcomming generations
At least that guy doesn't sound unhinged and out-of-touch. He understood that the good old days are not the days of today and the newer generations are fucked.
@felobatirmoheb4884 my Grandma has said for years, and I hate to say she's right, we need another major war to reset this sh¡tshow, we don't need McMansion's, we need the little wartime houses like they built during WW2.
@@braydons5623 with current technology, and geopolitics, the only way to have this 'major war' is for the US to face off against a near peer. Russia has shown itself to be a paper tiger, that leaves China. It would not end well for either of us, we would not have a golden era of post war prosperity like the late 1940s.
One immense issue around this is simply human nature.
People want to believe their successes are due to some special traits they possess and if that is true, than negative outcomes for others must obviously come from their own failings.
Breaking that mindset and just getting them to look at actual numbers and facts is extremely hard because for them it means... 'my success was just a byproduct of my environment and I'm not special or better than them'
Q0
The boomer mantra was “he who dies with the most toys, wins”
"And I want those toys destroyed after my death, so nobody else can have them."
I’m terrified reading all the people out here holding their hands out for an inheritance. Boomers should be sleeping with their eyes open!
@@tmusa2002 you are a weak person then because your easily scared, or “terrified” as you put it lol
@@corpr8dystopia778 Read these posts and so many are worried about their parents spending money and leaving them with nothing. Maybe I’m unusual in that I knew I couldn’t hold my hand out when my parents died and expect some money. I loved them and didn’t complain that they didn’t save for my inheritance. People out here are hating their parents because of money and it’s disturbing.
Politicians are also old, so they don't even understand younger generations. Even if they vaguely remember what it was like to be young, it was a completely different world in every way, so their experience means nothing today.
Also, economic hardship and poor outlook discourages having children, which just reinforces the pattern. That's why we are facing population collapse.
Here in the US our President and the leaders in the Senate and House are all late 70's or early 80's. It's total BS. We desperately need max age limits for elected office, along with term limits.
@@QuantumAscension1 The youngest president in US history was JFK, who was 43 upon inauguration. That's just insane to me.
Make politicians live like the average Millennial for a month! Budget, here’s the take home income, there’s rent, oh no sorry daddy can’t help you. Lol.
Yeah our modern civilization will collapse because of that. Either we keep chugging along and not fix the problem and eventually nobody has children so we’ll all be too old to reproduce so we’ll go extinct or our young population will be too small to continue modern civilization and we go back to living like medieval peasants again.
This is a fallacy. An age-old fallacy perpetuated by Pop culture (movies and music and the like). Old politicians understand the younger generation - they just don’t care. And I really mean that. Being in politics is about power, and they have the power now. It’s not that they don’t remember their youth it’s that they just don’t want what they have now taken from them. And we in no way are facing population collapse… That’s just hyperbole. Losing population would probably actually be good for this country, then we’d have to do what this country was founded on in the beginning- Open up the pathways for immigration. New blood is always good. We are a country of immigrants after all.
The day my Dad turned 18, he moved to Chicago, he applied and got a job working for a Railroad company. Had no experience working with trains outside of riding them. All he needed was a HS diploma.
Nowadays, you need 2 years experience just to be a cashier.
You've brought up one of the 2 reasons why usa has so much poverty...low wage work.
A high school diploma was a ticket to the middle class.
Now a high school diploma gives you access to minimum wage jobs.
@@scifirealism5943 And minimum wage jobs don't even grant the security of being above the poverty line.
@@agrb2321 correct.
50% of the country works in near minimum wage jobs.
it actually costs more to drive to and from a minimum-wage job now than you'll earn *working the job,* even 10-12 hours a day, if you live in most states.
this means unless you're lucky enough to somehow live close enough to the job where you can get there on foot, or pay for public transportation (which itself is catastrophically expensive now) you'd literally dig your own financial grave trying to work part-time for low pay.
@@hobomike6935 I know. I'm a cashier and it sucks.
It's $25 one way.
Blackrock and Vangard are the corporations that are jacking up house prices not boomers per se. Things may not look or be good now, but opportunities come in changing times. Be ready to make your move. All these things that you see that others don't are niche markets of the future presenting themselves for your choosing. Hang in there and don't lose focus or hope because your time is coming!
Boomers: want to sell homes for 150% profit
Also Boomers: why all these kids still live at home 😂
It must be nice to have parents or grandparents that actually have money to leave you when they pass away!
As someone with no kids, our money is going to our favorite charities...
@@maxxomega6599Make DavidTreeman your new favorite charity! Lol
@@maxxomega6599do you need to adopt someone ? Just asking for a friend
@@jesuspickg8929i am the friend by the way
And yet, my grandfather died and I haven't got a single cent, just a shirt (which I won't wear because it still has his scent and I miss him)
Another important thing to note about the transfer of inter generational wealth is that for many people, much of the wealth they may have been planning on passing down to their family will be eaten up by the healthcare industry during their end of life care especially. Assisted living facilities and hospitals are relentless when it comes to squeezing money out of the elderly.
They're relentless when it comes to squeezing money out of the poor and young too.
"What you worked for all your life will be eaten up by health care in the last 4 years of your life." is common knowledge.
Exactly. People live longer, which eats up more of the potentially inheritable wealth (esp. with increased healthcare costs as people age). And then when it is finally passed down, the people inheriting are often older as well (in their 40s & 50s), so it still doesn't really help the 28-year old first time hopeful home buyer.
@@NekoMouser Hang in there. Keep saving as much as you can. All bubbles break. The housing bubble will brake sooner or later.
The wealth will also be eaten up by inflation. If already is.
I can't even imagine having a house, like it seems so foreign to me to own an entire house with more than one or two rooms, multiple floors none the less. I imagine many other early Gen Z's like myself could agree.
It’s so true that the generation gap is noticable in politics, in my country the parties that form parlament are mostly ones that have had elderly, and retirement focus in their campains and goals. The parties that target yuth have almost no influence because the older generation voters are so many.
I am not wealthier than my parents, but I am definitely happier. Win some lose some
My great grandmother is in her early 90's, and for about a year she was staying with my family with me acting as the primary caregiver making her food, ensuring she was comfortable and that sort of thing. We would often talk and she really loved to tell stories. One of the ones that stuck out to me is that her older brother brother served in the Korean war, did his time, came back and needed a new job after getting out of the army. According to her, her brother had skills in carpentry and was able to walk on site at a construction site, talked to the people there, immediately got an interview with the on-site manager and was hired on the spot. He worked at that company for over 30 years before retiring with massive benefits.
She had no clue why I was and am having so much difficulty finding a good career, because in her eyes it's still as easy as walking up to a business place and getting hired because that's apparently how it worked 50-60 years ago. I'd never wish ill on her or her brother but the amount of times I had to hear her talk down to me like me being unable to find gainful employment was because of my lacking morals or a lack of effort was at times infuriating enough I had to just walk away because that was less disrespectful than risking retaliating to those comments. The mental difference between the generations is staggering.
Tbh it was your home and she sounded disrespectful to raise this issue more than once.
listening to those stories all while you basically keep her alive and comfortable. that's so blatantly ungrateful of her. please keep yourself safe from future critisism and mockery! 🙏🏻
My mother was born in the early 50s and I was born in late 80s.
When I started to look for job when I was in college (late 2000s) she kept saying I wasn't getting a job because I was lazy. i shoud print out CVs and go knock on doors.
While I had sent dozens of CVs by email to actual job offers.
everytime your grandma open her mouth, just leave immediately. always work.
The fields she is referring to still can hire like that. It may take a couple years of hard work, but a carpenter can make a good living even now.
I saw a story of one old man who was instantly radicalized and realized how much worse we have to live when he heard people my age ask what we want to do with our future or what we'd do with a large sum of money and...our dreams for our futures were the same as their parents who survived The Great Depression.
Home ownership. Not being in debt. Able to afford having kids/pets without starving. Only having to work one job. Being able to afford to take a vacation.
All these things that just seemed like an absolute given that other generations never had to question if they could afford...we DREAM of achieving before we die.
Well basically just the one generation. Anyone who lived at any point in human history before mid 1900s had it a lot harder.
@@editor4201 Yep. Boomers and early Gen X won the historical birth lottery. That’s a large part of it.
@@k.c.slawncare6046 late silent generation too.
Hence why i invested alot of time, energy, effort into living outside of the usa when the time comes. it will allow me to have the lifestyle i want simply b/c the cost of living will be much cheaper. granted, it could be too much of an inconvenience, sacrifice, etc for some...but Ive done alot of traveling to become familiar, comfortable, etc in various places in SE Asia, and Mexico (havent been to any other Latin Amer. countries yet, but im certain ill be able to adapt quite will given my experience).
Why you POOR BABIES! Lazy good for nothings, is what it sounds like.
It's not at all unusual for men to work 60-100 hours per week at jobs, and to earn the income they need. And men may not take vacations for YEARS in order to accomplish the goals they have set out for themselves.
WOMEN on the other hand, quite commonly work minimum numbers of hours. Why bother working more? Some MAN is expected to provide her with all the things she wants.
That's not true of all women of course. But especially after having children, women feel no shame about demanding paid maternity leave for months ----years even, when husbands may well be scrambling for overtime to fill the hole in the family budget women have created by leaving the labor force ----permanently, quite often.
The way our parents talk about plans to liquidate their assets before retiring while we have nowhere to go 🤣
In the US we also had the G.I. Bill and other laws that made if very easy for people to buy those suburban homes.
Imagine how easy life would be if you could pay off a house in 5 years 😂
Yep.
Get rid of zoning, the Fed, occupational licensing, and minimum size restrictions and it could happen again. But I suspect that is about 40 years away at best.
@@richdobbs6595 I don't even think the fed can be abolished.
It bails out the rich too much.
@@richdobbs6595 Not even remotely the way to make it happen again. You take away zoning and federal laws and you're gonna have even more of a shithole country than we have now.
@@richdobbs6595 don’t get rid of zoning. Just streamline zoning farms and forests into single family mcmansions quicker. Stop “urban growth boundaries” and stop “national parks” from wasting space near cities. Los Angeles has plenty of great buildable land near downtown BUT ITS ALL FOREST PRESERVE. Let people build on those mountains until they are filled up. Lower the zone wait times from years and sometimes DECADES to a week maybe 2-3 for a really big project or apartments which people find less desirable. This would lower the cost of housing to like 150k and drop rent since cheap housing mandates rent must fall as apartments are much crappier than single family homes.
My parents who are both in their 70s both were able to retire from their very blue-collar public utilities jobs in their 50s. They both get substantial pensions and each own massive, expensive homes. My Mom who never made more than $17 an hour at the peak of her career now drives an $85k pickup truck and spends all her time traveling. My parents are burning through their wealth and I don't expect to see a penny of it. Buying a house in those days was so easy that my Mom boasts that she had never had to rent. My parents were home owners before they were 20.
that sucks, man. Pretty evil how selfish and unaware the older generation is.
Same case for my parents. I worked 60 hours a week and earned 20K above the average US salary and still never came close to their lifestyle.
They were government workers with gold plated pensions.
@@maxbarkdull875 no, the younger generation doesn't want to work for what they get, they just want it given to them. Waaaaa!
@@rockingredpoppy9119 The irony of you posting a typical apathetic, selfish boomer comment like that on this of all videos is hilarious to me. You're totally incorrect but thanks for the laugh either way.
My parents probably want me to have kids. Do they really think I will be able to afford that. I won't even be able to own a house in my lifetime.
And then the Boomers laugh while saying “I’m going to spend all the inheritance travelling and living large, I’m not leaving anything to my kids or grandkids. They can work for it, just like I did!” Their lack of awareness and gratitude is simply staggering 🤬
I can see that happening.. but who would take care of them not being able to drive down to buy groceries or medicine or help them when they collapse of stroke or heart attack without paying today's fees for a nurse/helper?
I know I hear in the US, they have something what they call home for the Aged or something but not all countries have it as good as US & similar.
LOL That is exactly how my parents are/were!
why should they leave you anything?
You do realize that it was just a few generations ago that the Kids were meant to help support the parents in the parents old age, right?
You planning on doing that?
They spent a large amount of their income on you for 18 years. What have you done to pay that back?
Your Privilege is showing and your lack of awareness and gratitude is simply staggering.
OK boomer.
maybe the Millennials and Gen Z should learn to code.
My boomer parents just don't understand why it's so hard for younger generations to come up. I remember my first job I was making like $25k a year. My mother just "didn't understand and was disappointed" why I wasn't buying a house and wasn't married yet????? They aren't a learnt generation. My dad was a high school dropout and my mother had an associates degree. They owned 5 houses and traveled all over the world.
Wow. they wouldn't think much of me. This year is the first time I might make $15k. XD
Why do you need to buy a separate house if your parents own 5 is what I want to know if I had the wealth to own that many houses I’d be happy for my child to live in one of them
Oh my god, sorry for you pal. I hope you’re at least getting one of those houses eventually.
@@SebastianLopez-nh1rr I honestly don't want anything from them.
@@sirsurnamethefirstofhisnam7986 not HIS and not MINE. Glad you have parents that really love you and didn't just pop out kids because it was the "cool" thing to do at that age.
The problem is not one generation screwing over the next. (Except with social security) The real culprits are property zoning and regulation, over-regulation of products and services, allowing giant corporations to nearly monopolize industries, the existance of welfare, especially corporate welfare, government loan programs, and our failure to abolish the Federal Reserve. All of these factors are what have caused the artificially high prices of everything. This is not an old vs young or a left vs. right problem. Unless we begin to unravel these policies, starting at the local level, the cost of living crisis will continue putting home ownership and affording to have families and children out of reach for ever- increasing percentages of people.
This is really focused on US boomers who were born into a world where the US became a major manufacturing powerhouse with very little global competition. Almost all other 1st world countries just got out of two major world wars and the associated loss of life, infrastructure, and resources. The US boomers themselves had the entire road to wealth paved for them.
The problem of a millenial generation being strained for a home isn't just a western or chinese problem, its a problem in the rest of the world. Here in the Philippines, my siblings including myself still live in our family home even they are in their late 20s now. The reason: expensive homes due to high owned residential areas and purchasing power outpacing the income. It also became a hindrance to start families.
Everything mentioned is predicated on the notion that young people can't afford to live
@@alc7084 ... yes. *Thats the issue.*
The problem is capitalism
Hindrance to start a family, interesting point. It does seem like a big sacrifice of time and precious resources, all to give a copy of you to do the same.
There doesn't seem like there is a compelling reason to start a family in the modern world.
Here is USA the smart young people, including married couples, moved back in with parents to get out of debt. The rest are living on credit in massive loans ($100,000+++) or already debt free. Lots of people get rejected from marriages or relationships due to massive student loans. PLUS recession is incoming. PLUS Buying a home now means competing with corporate real estate firms offering big money CASH for family homes. Yeah boomers had less worries
The unwillingness to teach children solid financial literacy skills, and then bully them into surviving adulthood with nothing, should be held accountable for neglect and abuse.
You just described my boomer step-dad.
That describes my father. When we would ask him how much he made, he would respond, "that's none of your business". We never talked about finances and all my mother did was spend it. The only thing he would ever say to us was "are you saving?" Saving for what!?? Nothing about investing, budgeting, planning.
@@carleenniemiec I would say ''Saving WITH what?'' We already in cases where we are living paycheck to paycheck, and even then it's with roommates to socialize the cost of living in this capitalism hellscape.
@@InBrz Nice projecting hoarder.
“Bully”? They just want to teach you and you make them sound like they are your enemies.
There should be business and finance workshops in schools and fresh natural whole foods.