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- Jun 8, 2008
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Thanks @missy. Entertaining read: https://www.huffpost.com/entry/generation-alpha-after-gen-z_l_5d420ef4e4b0aca341181574
I'll take the compliment of being younger, even though it is false. Frighteningly, I'm closer in age to you than millennials.... [insert emoji committing hari-kari]I could easily say SandyinA you don't help the perception of younger people being smug, and self absorbed.
Yeah, I don't think CPP and OAS pays for anyone to sit around in an investment property here either.
Millennials should also consider that they did not have to live through 15 - 30% interest on mortgages either the way the boomer generation did. And while housing prices are relatively higher, interest rates have stayed incredibly low during the vast majority of time most millennials have been buying homes. And cars, and traveling.
Plus, as a Gen X, I've been royally screwed my fair share too. I just don't complain about it. I had huge amounts of student loan debt (as did most of us because our generation's parents weren't really inclined to help out since they got great jobs with just a high school education so why couldn't we?). I lived below the poverty line for over a decade while working my way through school in crappy 1 bedroom basement apartments shared by 3 - 4 people (again, parents not super willing to help us Gen Xers out), hoping not to be axe murdered because of the parts of town these places were in. I had to wait for someone to literally die to get my first professional job (as there were none at the time that I was graduating). I was also getting into the housing market right around the time that housing prices boomed, and I bid on 30+ houses before I finally agreed to build a house on spec and wait a year for it to be ready to move into because I kept getting out bid on every pre-built house I tried to buy. I bid waaaaaaaaaay above asking even on POS houses. Plus, to be competitive, you had to make offers with no home inspection clause and no clause regarding financing just to try to get into the market. In amounts that I KNEW I would barely be able to afford the minimum monthly payments on and still eat at the same time (let alone go to a restaurant or travel in the way people are complaining about being lectured for now). It was crazy! All the while being lectured by boomer parents about why you're not in the market and why your job doesn't have a pension (because ours is the first generation to be screwed in that way too), and why you don't have great benefits or vacation time. But us latch key kids don't complain much so this is never bandied about on the internet. Not to mention the fact that we lived through the investment bubbles of the recessions in the 1990's, the dot.com bust of the early 2000's, the 2007/2008 financial crisis, and what's happening now. So none of our generations savings will ever double in value at the speed that other generations savings did. Plus, we didn't have parents willing to help out or let us live at home or even care if we got kidnapped before dinner time (and even then, who knows). So if ANYONE is being shafted, it's us Gen Xers.
@SallyB, I remember that segment!
I am sorry complacent older people have been lecturing some of the younger people on this thread. All I can say is, get angry at the right targets and when it matters. Get educated. Vote. Perhaps you already do. Get mad at corporate greed, which is the target here.
I do believe that student debt is an albatross that is hampering our entire nation, and it is appalling that this was allowed to happen by banks and universities. I think the housing markets on the coast are absolutely ridiculous, and I would be out of there in a hot minute, though of course that is not where my life and family are.
Not every “Boomer” (god, I hate that word just as much as I hate “millennial” and all that crap) is well off. Many have no retirement whatsoever. They are one health crisis away from disaster just like younger people. It’s the policies of this country. Let’s change them.
Lol I have to admit I haven't read the above -- and am procrastinating so sorry if this comes off a bit tong and cheek. But a 2 bedroom apartment far from the city here of about 1100 sq foot will set me back ~1.5 million dollars. In addition I will only get to own it for 99 years from the point of beginning of construction before it is repossessed by the government -- so probably I will get to own it for 85 years or so from the time when I buy it. Afterwards it will revert to the government. The government will charge me more than 117 k in taxes (in addition to the 1.5 million sticker price plus normal property buying fees) to buy this 2 bedder apartment for ~85 years.
These ~1.5 million dollar small 2 bedders are cheap apartments which are not in the city.
It is much more expensive in the city -- many districts have 4 million to 8 + million as their standard prices for apartments. In many districts a house on land which you can keep longer than 99 years, will cost you in excess of 20 million.
Who is buying these 1.5 million- 20 million dollar run of the mill apartments/houses? People from Hong Kong who think it is cheap -- because property prices there are even more extreme. It is not the people my age from Hong Kong (they are all protesting as it has become too expensive to buy a first home which was what made hong kong so volatile last year) generally it is the older generation who bought property in hong kong when it was more affordable. And made most of their wealth off buying and selling property through the massive inflation in prices.
Is the maid expensive? why do you need a maid? do you have daycare.. I will be honest I know no one in Hong Kong, I know nothing about costs there. Yes you are right birthrates are falling and everywhere.. I was thrilled when I became a grandmother.. Emigrate to the USA.. if you are a PhD science holder you would be welcomed here!
Are you incomes only 200K a year? I mean I don't see how anyone could ever buy something where you are unless they were making 500K a year! I am sorry it's crazy! America would open the door (after covid of course)
I am in a stem field, I have a phd. Statistically speaking we are apparently top 1 % for income as a household. We have saved a lot, and had the benefit of families who saved their wealth to give us. Crazily we will some how afford a starter home that will need to be > 2 million dollars (+ ~200 k taxes) as we can't fit in a 2 bedder any more with children and a maid to care for and house. (before you ask I have to keep the maid. Workhours are so long here that we can't come home before 7 pm (indeed this is considered early here!) and there are no family members within 1000s of km of me so someone has to stay with us to care for my daughter. I could have chosen to never have a child -- most people I know who are my age have made this choice. Lol there are long running adverts about trying to get people to shack up and have a child -- including some super corny stuff like making love being patriotic -- plus large payouts for the birth of a child. But it doesnt work birthrate are falling off a cliff and it is no surprise why.). The question now is whether I should buy one even, if these prices are sustainable or not? I guess also is my career secure enough to take on the mortgage this will require? They're so high that I am almost the only one in my generation I know who can afford them.
There was a very famous quote from Lee Kuan Yew about how important home ownership is. He noticed that the people who owned homes did not loot riot and trash their surroundings. He said that the way to social stability was to ensure everyone could afford a home. Essentially implying this issue impacted all socio economic levels irrespective of how rich they were -- similar to several other statistics that show the rich and poor alike die much younger under certain social circumstances (think circumstances like high wealth inequality). Luckily here there is still government housing for citizens as a result of this insight. It does indeed seem to improve social stability.
See here you are ignoring what I said in the quoted post and insulting millennials again...
So where was the insult.. You said: I'm glad you code for fun when I explicitly said I was a programmer and my husband and kids where.. so that's hardly for fun! so I corrected your thoughts.. programming for me was hard. Your comment on 'for fun' sounded either like you didn't read what I said or snarky..
I did not insult millenials in that post. My kids are millenials..
My post:
Only my hubster codes for fun.. I don't code anymore since I'm retired.. but my kids, that is their careers and they do it for a salary, one has a BS in comp sci minor math, other has BBA in CIS.
Like I said, for my parents a VCR was outer limits, PCs? lol.
My friends (boomers) all have never had a problem ordering online, instacart, foodler, etc. So I don't know what neck of the woods you live in, but here and in my whole life and career technology was a way of life.
Older people have been taking out their frustrations on staff, as I said, since homids evolved.
My mother was such a haughty bit-- in restaurants, haughty people have low self esteem imho..
Covid makes EVERYONE edgy. Hopefully the millenials can learn and do better than boomers but I doubt it since as I said, every gen b4 complains about the 'oldsters' I was the ME generation, millenials are the gen that won't grow up..times change people dont.
@LLJsmom your comment about your daughter reminds me of my 7yo.
Now I don't think he's overly stressed about it but this is a kid who won't take a little packet of crisps to school (too much packaging) and will insist I put his lunch into oddball recycled containers so that he doesn't need to buy a lunchbox. He carries his carrot sticks around in recycled washed spice jars. Has stoically used the same ratty school bag since he started kindy even though I'd love to buy him a new one.
He sweats it out in 38 degrees Celsius weather because he doesn't want the polar bears to die early if he turns on the air conditioning (ok I had no air-conditioning in my day so that's the same).
It's hard being a little person these days!
Seems like lecturing boomers are the common denominator.All the while being lectured by boomer parents about why you're not in the market and why your job doesn't have a pension (because ours is the first generation to be screwed in that way too), and why you don't have great benefits or vacation time.
Really? EXACTLY the same? Is that ANOTHER one of your stories, that you were on your own at the age of 15 and living in a parked car for 6 months??? REALLY?EXACTLY the same as me, I could have been an addict easily, in prison, dead who the heck knows....
.....ummm, the whole premise of this thread is that there is one sector of the populace that wouldn't mind if all the "boomers" were gone, permanently.....So btw, one generation hating another? I sincerely have to laugh at that one. Theatrics?? calling the theater department!
This is just nonsense....Shoe fit wear. Oh and I'm sorry you're frightened at getting older, you too will become wiser, it just takes knowledge..
Oh and I'm sorry you're frightened at getting older, you too will become wiser, it just takes knowledge..
Gen X too. In 2nd grade, I walked home from school just a few blocks and stayed by myself until my mom got home. She was a teacher so I was only by myself for a few hours. I actually liked it. I also remember my parents taking us to California for a Disneyland vacation. OMG, they dropped us off at McDonald's one night and went to a nice dinner!!!I think I was about 10 and my sister was 8 and we are from a small town in Texas so not at all street smart! I'm not sure I would let my 16 yo do that today! My parents were fabulous and I am very close to them. It's just how it was. I definitely think it taught us to be independent so there are a few pros to it.
I think this is all of the evidence we need to prove that age does not equal wisdom![]()
Yes, teachers would call social services now for what was "normal parenting" for us Gen X'ers.
When your sick everyone thinks they have the right to lecture you. From boomers to gen z and that was just in the last week.
Who should i blame?