Post ApeL6x712LFFt7biRU by stux@mstdn.social
(DIR) More posts by stux@mstdn.social
(DIR) Post #ApeL6x712LFFt7biRU by stux@mstdn.social
2025-01-01T20:44:48Z
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"Are Young People Financially Doomed?"Personally I do feel a HUGE difference in what I am able to actually do compared to what my parents taught meThere is no room to "save up money", buy a /big/ house or car, go on yearly vacation etcSo yeah, as a millennial I do think it's getting a lot harder, I can't even imagine the next gen, oof. https://www.youtube.com/watch?v=rw7ouSPv5A0
(DIR) Post #ApeLf1XH63ABSA8Vai by stux@mstdn.social
2025-01-01T20:50:56Z
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@FrenzyBiscuit I put it as optional indeedI grew up that way 😉 I was learned that if i finish my school, get education and work hard i will also be able to "buy a big house"I can barley pay rent for a small 3 room apartment
(DIR) Post #ApeLxfuHjiRbsHnCwy by simon_lucy@mastodon.social
2025-01-01T20:54:16Z
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@stux It's quite similar to the 60's through 70's, but parents weren't generally in a position to help their children financially.
(DIR) Post #ApeM5vWZYRhKd0dV4a by Kilometer780@bahn.social
2025-01-01T20:55:43Z
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@stux I do worry about my sister's kids to be fair. I don't have a partner, good job and no plans to have kids so any pension or suchlike will be what they inherit. Been saving for when they turn 18 for many years now, so at least there's a little pot of money for them to spend at that point.Not sure they'll want my little house where I live - they live about 100km away from me! :blobcat_giggle:
(DIR) Post #ApeMNpFFdjNwMj4LBI by ErisCaffee@masto.ai
2025-01-01T20:59:04Z
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@stux I'm Gen-X and even my generation is feeling this. While I was able to get a university degree when doing so was still affordable, and I *eventually* managed to gete a good paying, steady job in my 40's, I didn't have the money to buy a house until I was 50, and I can count the number of vacations I've had in my life on the fingers of one hand.I can't imagine how hard things must be for people in their 20's right now. Society has really gone down thanks to the rich money hoarders.
(DIR) Post #ApeMfOAH3vT7ae7F7A by paul@oldfriends.live
2025-01-01T21:01:43Z
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@stux IMO, nothing has really changed for thein almost 80 years, except more toys and tech to buy at a hefty price tag. Post WWWII into a portion of the GenX period was an anonymity. The premise of 'It's A Wonderful Life in 1946 was it is hard for the worker to save and even send their kids to school, to save $5000 to buy a house of their own. In 2025, it's still just as hard. The system is built so the majority of us are meant to survive on just enough income to drive us to complain, dream and to get to work, if that, and that is all.https://www.youtube.com/watch?v=O4ne13Zft9Q
(DIR) Post #ApeMuE4OsPPycqRXge by drahardja@sfba.social
2025-01-01T21:04:52Z
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@stux For the US this is DEFINITELY the case. 50 years of Reaganomics has robbed everyone but the wealthy of the benefits of productivity. As a result, everything is more expensive, but median income has stagnated. There is NO WAY most millennials (and later) can afford a house today.The good news is that rental prices seem to not follow the same trend. However, renting necessarily transfering even more money to landlords, which will surely make the problem worse over time.https://home.treasury.gov/news/featured-stories/rent-house-prices-and-demographics
(DIR) Post #ApeO6ri5QBRgzpb4Qy by ZySoua@mastodon.ml
2025-01-01T21:18:29Z
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@stux I can save money, but it’s not due to living in family home and being single. I can’t afford to buy my own home with this economy without taking a loan 100%. I pay my share of taxes and etc already and I feel like each year it’s just getting worse…
(DIR) Post #ApeONbjO5HFQMSBlZY by mister914@masto.ai
2025-01-01T21:21:26Z
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@stux I entered the labor market in 2002 with maybe $2k in my name. It's hard, but you can save and compounding interest builds wealth. I bought a house after the market went crazy too.It's still doable, but requires sacrafice and discipline.
(DIR) Post #ApeQddKQ73y7rBHQ1I by ludosansfin@mastodon.social
2025-01-01T21:46:40Z
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@stux all monopoly games end the same way. This economy was always a finite game. Time to flip the board. Time for a more interesting game.
(DIR) Post #Apnkrsnh8Ck7P2gUL2 by BlurryBitsPhoto@pnw.zone
2025-01-06T09:45:45Z
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@stux what gets me is how skewed the concept of alternative economies has become, especially in the age of crypto.It geels like barter trade is progressively being muted. And I dont mean the libertarian woo-fantasy.Used to have five bater fairs within 300 miles every summer. They've all gone.Farmers markets, the co-ops, tack and trade..Big daddy corpo has no tears in his eyes over high prices.But have we truly forgotten the power of good neighbors? i wonder..