1. Healthcare today is leaps better then 30-40 years ago. People want those services. 2. People choose to spend more raising a child. The cost of my childhood was a few toys, some cheap sports equipment, cheap clothes, and food. The price for these is probably less today adjusted for inflation. Parents choose expensive activities. 3. Cars are way safer today. Safety features plus luxury items in cars (electronics etc) are what increases the cost. The same 80s car could be produced today for a similar price but nobody would buy it because it would be the worst and most dangerous new car on the road. 4. Houses have doubled in size, prices have as well. That is a choice. 5. Not sure about rents, never researched it. |
You guys complain now, wait until you youngsters begin to feel life without the massive subsidies you have benefited from.
https://www.nytimes.com/2021/06/08/technology/farewell-millennial-lifestyle-subsidy.html |
Your responses come from a position of UMC privilege 1. There's a difference and a gap between the cadillac healthcare that exists and what people can afford 2. It's not all just choice and many parents don't even have the luxury of "more expensive activities" in the first place 3. The electronics and safety features are valuable but their cost alone does not account for the increased cost of cars 4. Many people live in smaller homes than their parents and grandparents did. There are a lot more people in the US today than there were in the 1950s. Have you seen housing stocks inside DC? |
You are neglecting the large increase in cost of childcare which is for most families not a choice. https://www.theatlantic.com/ideas/archive/2019/11/why-child-care-so-expensive/602599/ The increase in childcare far outweighs the increase in expenditures in more optional things like toys and extracurriculars. Cost of childcare is way above the cost of my PhD program (admittedly at a top 10 state university...) - actually double the current tuition... The rise in housing prices is more complex than that. At least in my area - there is considerable NIMBY to building more concentrated housing - most of the concerted oposition is by homeowners wishing to perserve the character of their neighborhoods - this is one area where primarily boomers are responsible for decreased supply which contributes to the high cost housing. There is also the problem of competition from foreign investors who pay cash crowding out first time home buyers who need to rely on mortgages. "double size houses for double the price" is not the issue here. I live in a considerably smaller square foot space than my parents did at my age. Zero rent control so experienced my rent increasing by $700 or 36% (over 5 years...) |
In the article Going to college was more important for today's 40-year-olds. Millennials with bachelor's degrees or higher earn 113% more than what they would have earned with only a high-school diploma. But college-educated Baby Boomers made only 57% more than their peers with high school degrees. So where did those non-college educated boomers work? Many in manufacturing where they got union wages. example: boomer worked in heavy or light industry or made furniture or textiles in a factory. Those jobs don't exist anymore in the USA so the equivalent non college educated person now might get a job in the expanded restaurant or retail sector in a store or distribution center. Contraction of higher paying jobs and massive expansion of lower paying jobs. There are also categories of expenses that the average boomer entered zero $ from stuff like nail salons to cleaning services to lawn services for small plots. A boomer could scrape their way through college in STEM and get a decent job. Now there are over 500k jobs in the USA really not available to millennials. Globalism didn't work out so well for many. |
Lets assume that all of what you said is true. How are boomers, the wealthy, or anyone demographic group responsible for these conditions. Be specific. For example, your evidence and logic should read something like: according to source ABC, boomers/wealthy does XYZ activity, which results in such-and-such condition. |
Where do you live that you have a 0.1% chance of being struck by lightning? |
We have been sliding back into Feudalism since the 70s. Time for boomers to stop obsessing about their taxes and realize they are leaving their children and grandchildren a regressive political and economic system. The richest country in the world lags other Industrialized nations in just about any measure. |
On an inflation adjusted basis, the average sales price for a new car has barely gone up in 20 years. Add to that the cheap financing costs and in consideration of the improved features (electric windows are standard now), quality and safety makes cars a very bad example to argue. |
The first post in this thread comes from a position of white privilege. College, houses, and cars were simply unattainable for many people of color in the 1950s. |
Black people were often excluded from unions. |
It doesn't help that the average size of a single family home has gone from 1600 sqft to 2600 sqft while the average family size has gone down.
And having dual income families haven't helped prices either. Look at how average HHI has soared. Current US Average Household Income: 83,143.00 US Average Household Income for Dec 2016 Mean: 40,838.92 Median: 38,380.94 Min: 7,989.08 (Dec 1967) Max: 83,143.00 (Dec 2016) https://www.multpl.com/us-average-income |
Innovation and increased productivity have made manufactured goods, historically, cheaper. Have you seen the profit margins of car manufacturers, they are through the roof. Meanwhile, wages have eroded. |
Soon the Boomers will be dead and frankly, I think the Country will be better for it. |
Could not agree more. |