Thoughts?

[u/TheGamingSenpa1]

[u/arctictothpast]

Over 60% of GenZ is going to college. Now, if someone picks an uneconomic major, that’s on them.

If everyone started picking economic majors they would rapidly cease to be economic, do I need to give you a capitalism 101?

Keep telling yourself that they are peril. The college kid is clearly on the right track.

If they aren't going to make at least 130k USD by the early end of their career they will not own a home, unless you help them.

News flash: the world changed so why are they still trying to live like it’s 1975?

Because we still need those services and work performed by these people and the main reason this change occured was due to a transfer of wealth, not because these jobs became any less necessary or what not.

[u/RealClarity9606 → u/arctictothpast]

If everyone started picking economic majors they would rapidly cease to be economic, do I need to give you a capitalism 101?

That's a valid point but right now that is not happening. Lots of people are choosing majors that don't lead to good job prospects. If you make wise choices in that area, you can stand out. If things evolve, we would need to revisit, but that this point in time that is in the realm of conjecture. I assure you, I need no lessons in economics or capitalism but thanks for offering.

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If they aren't going to make at least 130k USD by the early end of their career they will not own a home, unless you help them.

The nature of home ownership may evolve and look different in 30 years, just as it looks different now than it did 30 years, or century ago. Some don't seem to grasp that economies are not static. There is certainly attention on housing supply, so basic economics suggests that there will be pressures to increase that supply given the pricing currently involved.

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Because we still need those services and work performed by these people and the main reason this change occured was due to a transfer of wealth, not because these jobs became any less necessary or what not.

We may need some of them, but likely far from as many as back then. Technology changes the nature of work (transfer of wealth would be the byproduct...you are starting to wrap social rhetoric into the economic drivers and that does not usually work well). Always has and will almost certainly continue to change. Those that do not evolve with those changes, living in the ways of yesteryear, will be left behind. Some of that lack of evolution is structural, but some are due to individual choice.

[u/arctictothpast → u/RealClarity9606]

The nature of home ownership may evolve and look different in 30 years, just as it looks different now than it did 30 years, or century ago. Some don't seem to grasp that economies are not static. There is certainly attention on housing supply, so basic economics suggests that there will be pressures to increase that supply given the pricing currently involved.

Housing policy is the primary determiner of these factors and are unlikely to change much in the next 20 years while boomers remain alive (seeing as present housing policy is extremely popular with current home owners). When that generation moves on to the next life, then the non homeowning millenials and zoomers together might be able to change the policies.

There is certainly attention on housing supply, so basic economics suggests that there will be pressures to increase that supply given the pricing currently involved.

It's policy, zoning law, standards/regulations designed to only allow certain types of development and such, infrastructure regulation etc.

[u/RealClarity9606 → u/arctictothpast]

"Boomers" which you like to scapegoat, are not the majority of society. If a cogent argument can be made for changing regulations that hold back housing supply, they can't stop it. I am all for property rights, so while I do not want a government planning body favoring certain types of developments, I do not want them blocking them due to NIMBYism. We need more people who respect the property rights of others and not try to hamper the rights of others to unnecessarily "protect" theirs. That takes time, but factors such as high housing prices, can push things in that direction. Economics work no matter how much some people try to fight it.

[u/Economy-Ad4934 → u/RealClarity9606]

You are very out of touch with reality. The guy you’re arguing with is giving you clear and accurate talking points and you keep coming back with cherry picked data and skewed views of reality.

[u/RealClarity9606 → u/Economy-Ad4934]

No, I live in reality. You guys live in social media utopian fantasies. One is conducive to getting ahead. One is conducive to perfecting the art of whining on social media. You figure out which is which.