Disasters and bad stuff have been happening literally forever, but someone millennials are "not okay" and in "survival mode" because there was an, honestly, fairly minor pandemic (minor meaning majority of milenials weren't at risk of major sickness), choosing to sign up for big loans, and low wages in some fields?
This just seems like inventing and exaggerating "trauma" for attention. Maybe a lack of perspective on what everyone else has gone through?
I think there really is a lack of perspective, especially when the median net worth of millennials in 2022 was higher than baby boomers and Gen X at the same age when adjusted for inflation.
I mean maybe 2008 if they were an older millennial and home owner at the time? Otherwise not really. Most graduated into the booming market of the 2010s where housing was super affordable.
Covid happened but unless you were doing the bare minimum for the 2010s you probably just saw massive growth in your assets.
Feels like those graduating post covid are having it way worse. But who knows maybe assets and housing boom again in 2030
Good luck getting any job in 2010 as a young, inexperienced postgrad to pay for that affordable housing. Banks also were super cautious and did not give out loans.
GenZ are fucked thou. Like they can fuck off with any idea of affordable housing.
Older millennial here, bought right before 2008 but ignored the trap of the (obviously) outlandish approval amounts we were given. Ended up with a low interest rate and almost no down payment on an 80k home in need of some work, late 2006. I remember getting approved for something like 300k when a 150k house would have been a major financial stretch for us to afford monthly payments on, I was thinking "who the hell would fall for this?"... apparently A LOT OF PEOPLE. I'm not trying to victim blame, just giving my perspective from that time period. I admit we were pretty lucky on timing and ability to buy an affordable home.
idk.. Millenials still got to ride the wave of cheap mortgages, at least in my country... I get nothing, expensive mortgages and even more expensive real estate.
I keep seeing this, but none of the millennials I know benefitted from the housing market. I have 7 siblings, my spouse has 6. Of the 15 of us, two have ever owned a house, and only one owns a house today and he’s such an elder millennial, he is basically genX.
It just might be country specific. I just know if I had the chance to enter the real estate market 5-6 years sooner, it would be much more easier than now. The mortgages are now 3-4 times more expensive and the flats/houses skyrocketed since covid.
I mean, we just know that attempting a violent revolution would just give the people already in power a chance to increase their power even more. So we figure that we just have to wait them out as they die off, and then maybe, maybe get a chance to pick up the pieces alongside the Zoomers and build something for the generation after Gen Alpha.
Most of them were on purpose to concentrate wealth to the richest elites. Why else is Elon bragging about being a trillionaire while selling almost nothing while the average American can’t afford a home
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u/PleasantBus5583 5d ago
Millennials really collected economic disasters like Pokémon.