Boomers' Billion-Dollar Bonanza: The Unseen Hoarding Behind Millennial Struggles

[Anonymous]

Anonymous wrote:I say to Millennials, move on. It maybe true or not true that some Boomers got the bonanza.

Just do you! Make your own money and hope that you don't get vilified by your children & the grand kids.

Millenials are not having kids because they can't afford to buy homes. They won't be vilified because there is no one to vilify them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I say to Millennials, move on. It maybe true or not true that some Boomers got the bonanza.

Just do you! Make your own money and hope that you don't get vilified by your children & the grand kids.

Millenials are not having kids because they can't afford to buy homes. They won't be vilified because there is no one to vilify them.

Doesn't seem to be a shortage of poor people having kids.....

These are just excuses. There's a segment of younger people with grossly inflated sense of self worth and expectations that doesn't and never has mirrored any reality for any generation. So they now have tamper tantrums. I say this as someone who is technically a Millennial.

[Anonymous]

I am tired of all this whining about boomers.

My daughter is a millennial. My daughter has enough cash saved that she could buy a house with cash if she wanted to.

My other daughter is in her second house. they had to take a current rate, not ideal, but hopefully they will be able to refinance at a lower rate not too far into the future.

Young people going to college and borrowing a lot for it is dumb. Getting a low paying major is dumb. Lots of people complaining have done both of these things.

The government is not going to take care of you.

[Anonymous]

Anonymous wrote:I am tired of all this whining about boomers.

My daughter is a millennial. My daughter has enough cash saved that she could buy a house with cash if she wanted to.

My other daughter is in her second house. they had to take a current rate, not ideal, but hopefully they will be able to refinance at a lower rate not too far into the future.

Young people going to college and borrowing a lot for it is dumb. Getting a low paying major is dumb. Lots of people complaining have done both of these things.

The government is not going to take care of you.

You might not like all the complaining about boomers, but wading into the conversation with, "Well MY kids are very well off and smart, too bad some dummy got an English degree and went into teaching, not my problem. Also boo welfare," is not going to stop people from complaining about boomers, LOL.

[Anonymous]

Anonymous wrote:I am tired of all this whining about boomers.

My daughter is a millennial. My daughter has enough cash saved that she could buy a house with cash if she wanted to.

My other daughter is in her second house. they had to take a current rate, not ideal, but hopefully they will be able to refinance at a lower rate not too far into the future.

Young people going to college and borrowing a lot for it is dumb. Getting a low paying major is dumb. Lots of people complaining have done both of these things.

The government is not going to take care of you.

pretttty sure the whole article was about how the government has in FACT taken care of boomers at the expense of everyone else.

[Anonymous]

Every generation (all people) believe their problems are more difficult than any others. That is primarily because each of us feel our own problems and only hear about other people's problems. The "feeling" makes them seem worse.

Additionally, every generation cherry-picks the facts that make their case.

[Anonymous]

Additionally, I wouldn't believe anything Ray Dalio told me.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I am tired of all this whining about boomers.

My daughter is a millennial. My daughter has enough cash saved that she could buy a house with cash if she wanted to.

My other daughter is in her second house. they had to take a current rate, not ideal, but hopefully they will be able to refinance at a lower rate not too far into the future.

Young people going to college and borrowing a lot for it is dumb. Getting a low paying major is dumb. Lots of people complaining have done both of these things.

The government is not going to take care of you.

pretttty sure the whole article was about how the government has in FACT taken care of boomers at the expense of everyone else.

The whole article is based on opinions regarding isolated "facts" that make the case that the authors and analysts want to make. Come up with a supposition, then find the facts to prove it. Disregard anything that dissuades from the argument.

I am not saying there is no truth to some of the facts, but there is a bigger picture that makes the whole.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I guess I am a member of the Boomer generation, although I hate that term. When we were starting out, we bought a tiny house in a close-in suburb, and financed it with a 30-year 12% mortgage. There are many similar houses in our neighborhood. When they come on the market they are snapped up, torn down, and replaced by mega-mansions with three-car garages, Great Rooms, etc. No young couple starting out can afford them, even at low interest rates. Not only is the house over-priced, but the taxes and utility costs are higher too. And the houses are so big that there is no back yard for kids to play in. This is not the fault of my generation.

I mean, it kind of is. Because who do you think is buying those starter homes and replacing them with giant mansions that will cost three times as much? Developers, who are mostly Gen X and Boomers.

Also, Boomers have controlled our political structures for decades, and could have instituted policies that would have addressed skyrocketing housing costs. But they were not incentivized to do so because Boomers, who already owned homes, benefitted from rising home values. They had no interest in keeping housing costs down. Well now millennials are mad because they can't afford homes. Boomers could have made choices that would have made it easier for millennials to buy into the housing market, but chose not to in order to enrich themselves.

When millennials get older, they, too, will support policies that help them, and not other generations.

[Anonymous]

Some people love to hate the boomers, but they are all older and had decades to save. Of course they have more money!

When Millenials and Gen-Z are older, and have all the wealth, people will hate them too.

[Anonymous]

It just seems wrong that we live in a society where people think twice about taking their child to the doctor or emergency room because they are worried about copays and prescription costs, and meanwhile my hypochondriac older relatives seem to have made 'going to the doctor' into a lifestyle. I pay a lot of taxes and yet there's not maternity leave, no childcare. That's apparently a "you problem" whereas senseless wars and viagra for old men are an 'us problem'. Makes no sense.

[Anonymous]

Anonymous wrote:It just seems wrong that we live in a society where people think twice about taking their child to the doctor or emergency room because they are worried about copays and prescription costs, and meanwhile my hypochondriac older relatives seem to have made 'going to the doctor' into a lifestyle. I pay a lot of taxes and yet there's not maternity leave, no childcare. That's apparently a "you problem" whereas senseless wars and viagra for old men are an 'us problem'. Makes no sense.

Many people would support universal healthcare, but Rs don't want that. If you want to bring down healthcare costs you will have to get government to regulate the cost. That is the only way to bring it down.

Seems like what you are saying is that old people who have worked all their lives shouldn't be taken care of by the taxes that they paid. What should old people do? You do know that these old people also didn't have mandatory maternity leave, right? Their form of "childcare" was latchkey kids, of which, I was one of.

you seem to be under the impression that old people had it easier when they were your age. They didn't. Older women didn't have the protections that you enjoy today in the workplace. Workplace discrimination was much more accepted 30 years ago compared to today. As was a lot of other types of discrimination, and not just in the workplace.

-signed a genxer

[Anonymous]

To the person above: where I live, there are a lot of older boomer women who have literally never worked a day in their lives. they spend their days going to bible studies and out to eat, swimming at the y and bragging about their grandchildren. I had never read an obituary before for someone who had never worked. They are strange.

So yes, I do think it's wrong that the government provides free healthcare to women who have never worked a day in their lives, while children go without. I don't buy the argument that everything every boomer has is because they earned it, and that they have earned so much more than the rest of us.

and suggesting that since they suffered we should suffer to sounds a bit like those people that try to justify fraternity hazings. Just make the system better. don't think that because you put up with it, we should put up with it too.

[Anonymous]

Anonymous wrote:It just seems wrong that we live in a society where people think twice about taking their child to the doctor or emergency room because they are worried about copays and prescription costs, and meanwhile my hypochondriac older relatives seem to have made 'going to the doctor' into a lifestyle. I pay a lot of taxes and yet there's not maternity leave, no childcare. That's apparently a "you problem" whereas senseless wars and viagra for old men are an 'us problem'. Makes no sense.

Maybe if younger people would turn up to vote like old people.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I guess I am a member of the Boomer generation, although I hate that term. When we were starting out, we bought a tiny house in a close-in suburb, and financed it with a 30-year 12% mortgage. There are many similar houses in our neighborhood. When they come on the market they are snapped up, torn down, and replaced by mega-mansions with three-car garages, Great Rooms, etc. No young couple starting out can afford them, even at low interest rates. Not only is the house over-priced, but the taxes and utility costs are higher too. And the houses are so big that there is no back yard for kids to play in. This is not the fault of my generation.

I mean, it kind of is. Because who do you think is buying those starter homes and replacing them with giant mansions that will cost three times as much? Developers, who are mostly Gen X and Boomers.

Also, Boomers have controlled our political structures for decades, and could have instituted policies that would have addressed skyrocketing housing costs. But they were not incentivized to do so because Boomers, who already owned homes, benefitted from rising home values. They had no interest in keeping housing costs down. Well now millennials are mad because they can't afford homes. Boomers could have made choices that would have made it easier for millennials to buy into the housing market, but chose not to in order to enrich themselves.

When millennials get older, they, too, will support policies that help them, and not other generations.

This is fundamentally dysfunctional. Future generations are interrelated with yours. It's weird to view your kids' and grandkids' generations as your adversary. I have an interest in supporting policies that benefit the generations that come after me because (1) those generations include people I personally love and care about and in some cases, sacrificed in order to bring into the world and raise, and (2) those generations will be in charge when I'm really old and I want to have a good relationship with them.

A society in which the generation in power always screws over younger generations to enrich themselves is a society that won't be around much longer.

If this is actually how Boomers think, that's basically evil.