Boomers can’t downsize

[Anonymous]

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Anonymous wrote:The Boomers paid like $1500 for tuition, $50k for their first home and then when their parents died at normal ages, got inheritances in their 40s. Now they’re super charged with modern medicine, loaded, and aren’t going anywhere. They’re also not maintaining their houses. Just check the market and see all the “as is” $1.2Ms that have fallen into disrepair. These folks need to start riding off into the sunset.

They were also making $40,000 a year with a masters degree. And their parents were primarily blue color workers- no inheritance.

+1 Thank you.

+2. Late boomer here. We graduated into a recession and took whatever job would pay the bills if we didn’t option of going to grad school. I paid 12% on a PLUS loan.

Millennials graduated into a recession too. You didn't have it harder, we all have had it hard. The comparison game doesn't look good on you grannies.

NP. You don’t need to be ageist. You could have left that off and still have been successful in your comeback. Ageism is pernicious.

—genX

Graduated early 80s. Huge recession factories closing, massive inflation , 18 percent interest rates. Billy Joel singing “livin here in Allentown closing all the factories down our teachers lied that an education gets you a job” Springsteen sang The River “isn’t any work on account of the economy”.

All the recessions since have never been bad enough for the most popular artists to write devastating lyrics about the difficulties.

Life is way easier and cushy today but people don’t appreciate it at all and are treading water in a sea of covetousness and envy.

What a strange take re: music.

DP here I think but the point is that older generations also faced hard times. The music is influenced by the widespread economic issues like unemployment.

The point is that life is cushier now but the population is weaker physically and mentally. Results in more covetousness and whining. I think the average boomer can still beat up the average millennial.

Not sure about your last point since our generation is getting up there but the rest is true.

Boomers raised millennials.

Exactly. There are so many millennials because there are so many boomers, which is why the term “echo boom” was created. So if your parents are boomers, and you’re posting broadside attacks on boomers, do you hate your own parents? I think most of this anti-boomer posting is from Gen Z — or from millennials who were abused or who had non-boomer parents.

Nope. Millennial poster here. Both of my parents were boomers. But not Trumpers. Never abused. I just look at the state of the country and realize that their generation contributed to most of the current problems we find ourselves in. Things are unaffordable - healthcare, real estate, education, and a middle class lifestyle largely because of their selfishness and the decisions that they supported. Oh, and our environment has also been wrecked. But thanks for the inheritence, I guess. It's cold comfort given the country you've left to us.

I’m a late boomer of 1963, but I identify as a Gen X. The only thing I know about Vietnam, JFK, space exploration, civil rights movement or Woodstock I learned in a book or movie. I am space challenger crash, BET, AIDS, Reagan/Clinton, Desert Storm, Iranian Hostage takeover, and the CIA drugs for guns Nicaraguan Contra crisis into the African American communities. All that you describe, this Boomer did not receive.

Healthcare has always been unaffordable if you were poor or not in a union. The emergency room was the primary care doctor for the flu. Everyone didn’t automatically get braces like the millennials seem to have received.

Higher Education was also only for the rich before Pell grants and subsidized loans. My student loan was 9%, that I paid off gradually over the years. I wasn’t given the opportunity to do public service in exchange for student payoff. Had the opportunity been available, I would have attended my first choice university and ran up the debt. Instead, I choice a university that 90% of DCUM would scoff. Ouch, and I graduated into a recession as the USA and the USSR entered into an ARMS race.

Millennials have had ridiculous free money or lower than low interest rates for more than twenty-years to purchase homes and cars. In 1990, the mortgage rates were between 13 and 18%. Oh, and I don’t believe we had the special first time home buyers programs that benefit the current new buyers. My money allowed me to purchase what I often called a POS fixer-upper. Today, I understand first time young buyers require 2500+ sq ft, turn-key, spacious state of the art kitchen and baths in the best school districts homes with 3.5 interest rates.

And yes the environment took a hit during white flight when most of your parents and grandparents ran from the cities. How is that different when so many posters in the real estate section of DCUM are looking for big homes away from the cities to WFH while emitting gas and carbon as they drive to conduct all their errands and play. How are you millennials any different from the boomers you despise, especially with your entitlements. If anything, you’re carbon copy’s who have not fully matured into it, but you getting there.

Do you even know how interest rates work? Guess what happened when interest rates fell? Asset prices for interest rate sensitive assets (e.g., real estate, stocks, etc.) and inequality skyrocketed. That's great for those who already have existing assets. It's terrible for those that don't. Don't confuse "cheap financing" with the benefits of asset ownership, which is out of reach for many of the millennial and Gen-Y generation. Cheap financing benefited private equity firms, real estate investors, and others who were already in a position to invest. Most millennials couldn't afford the downpayment either because of the costs of an education and student loans (https://www.forbes.com/advisor/student-loans/college-tuition-inflation/). Let's not forget the costs of childcare either (https://listwithclever.com/research/cost-of-raising-a-child-over-time/).

You boomers want grandkids, amirite? Well, the next generation can't afford them.

[Anonymous]

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Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The Boomers paid like $1500 for tuition, $50k for their first home and then when their parents died at normal ages, got inheritances in their 40s. Now they’re super charged with modern medicine, loaded, and aren’t going anywhere. They’re also not maintaining their houses. Just check the market and see all the “as is” $1.2Ms that have fallen into disrepair. These folks need to start riding off into the sunset.

They were also making $40,000 a year with a masters degree. And their parents were primarily blue color workers- no inheritance.

+1 Thank you.

+2. Late boomer here. We graduated into a recession and took whatever job would pay the bills if we didn’t option of going to grad school. I paid 12% on a PLUS loan.

Millennials graduated into a recession too. You didn't have it harder, we all have had it hard. The comparison game doesn't look good on you grannies.

NP. You don’t need to be ageist. You could have left that off and still have been successful in your comeback. Ageism is pernicious.

—genX

Graduated early 80s. Huge recession factories closing, massive inflation , 18 percent interest rates. Billy Joel singing “livin here in Allentown closing all the factories down our teachers lied that an education gets you a job” Springsteen sang The River “isn’t any work on account of the economy”.

All the recessions since have never been bad enough for the most popular artists to write devastating lyrics about the difficulties.

Life is way easier and cushy today but people don’t appreciate it at all and are treading water in a sea of covetousness and envy.

What a strange take re: music.

DP here I think but the point is that older generations also faced hard times. The music is influenced by the widespread economic issues like unemployment.

The point is that life is cushier now but the population is weaker physically and mentally. Results in more covetousness and whining. I think the average boomer can still beat up the average millennial.

Not sure about your last point since our generation is getting up there but the rest is true.

Boomers raised millennials.

Exactly. There are so many millennials because there are so many boomers, which is why the term “echo boom” was created. So if your parents are boomers, and you’re posting broadside attacks on boomers, do you hate your own parents? I think most of this anti-boomer posting is from Gen Z — or from millennials who were abused or who had non-boomer parents.

Shouldn’t the same question be asked in reverse of boomers - why are you posting nasty attacks on your kids generation? I see a whole lot of offended boomers on this thread taking offense to every last comment. Shouldn’t the boomer generation be more mature than the millennial generation based on their age?

With age come privileges.

We know. Your generation put into place all the crap policies the rest of us have inherited. You seem so smug and proud of that. You should unpack that in therapy.

[Anonymous]

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The Boomers paid like $1500 for tuition, $50k for their first home and then when their parents died at normal ages, got inheritances in their 40s. Now they’re super charged with modern medicine, loaded, and aren’t going anywhere. They’re also not maintaining their houses. Just check the market and see all the “as is” $1.2Ms that have fallen into disrepair. These folks need to start riding off into the sunset.

They were also making $40,000 a year with a masters degree. And their parents were primarily blue color workers- no inheritance.

+1 Thank you.

+2. Late boomer here. We graduated into a recession and took whatever job would pay the bills if we didn’t option of going to grad school. I paid 12% on a PLUS loan.

Millennials graduated into a recession too. You didn't have it harder, we all have had it hard. The comparison game doesn't look good on you grannies.

NP. You don’t need to be ageist. You could have left that off and still have been successful in your comeback. Ageism is pernicious.

—genX

Graduated early 80s. Huge recession factories closing, massive inflation , 18 percent interest rates. Billy Joel singing “livin here in Allentown closing all the factories down our teachers lied that an education gets you a job” Springsteen sang The River “isn’t any work on account of the economy”.

All the recessions since have never been bad enough for the most popular artists to write devastating lyrics about the difficulties.

Life is way easier and cushy today but people don’t appreciate it at all and are treading water in a sea of covetousness and envy.

What a strange take re: music.

DP here I think but the point is that older generations also faced hard times. The music is influenced by the widespread economic issues like unemployment.

The point is that life is cushier now but the population is weaker physically and mentally. Results in more covetousness and whining. I think the average boomer can still beat up the average millennial.

Not sure about your last point since our generation is getting up there but the rest is true.

Boomers raised millennials.

Exactly. There are so many millennials because there are so many boomers, which is why the term “echo boom” was created. So if your parents are boomers, and you’re posting broadside attacks on boomers, do you hate your own parents? I think most of this anti-boomer posting is from Gen Z — or from millennials who were abused or who had non-boomer parents.

Nope. Millennial poster here. Both of my parents were boomers. But not Trumpers. Never abused. I just look at the state of the country and realize that their generation contributed to most of the current problems we find ourselves in. Things are unaffordable - healthcare, real estate, education, and a middle class lifestyle largely because of their selfishness and the decisions that they supported. Oh, and our environment has also been wrecked. But thanks for the inheritence, I guess. It's cold comfort given the country you've left to us.

I’m a late boomer of 1963, but I identify as a Gen X. The only thing I know about Vietnam, JFK, space exploration, civil rights movement or Woodstock I learned in a book or movie. I am space challenger crash, BET, AIDS, Reagan/Clinton, Desert Storm, Iranian Hostage takeover, and the CIA drugs for guns Nicaraguan Contra crisis into the African American communities. All that you describe, this Boomer did not receive.

Healthcare has always been unaffordable if you were poor or not in a union. The emergency room was the primary care doctor for the flu. Everyone didn’t automatically get braces like the millennials seem to have received.

Higher Education was also only for the rich before Pell grants and subsidized loans. My student loan was 9%, that I paid off gradually over the years. I wasn’t given the opportunity to do public service in exchange for student payoff. Had the opportunity been available, I would have attended my first choice university and ran up the debt. Instead, I choice a university that 90% of DCUM would scoff. Ouch, and I graduated into a recession as the USA and the USSR entered into an ARMS race.

Millennials have had ridiculous free money or lower than low interest rates for more than twenty-years to purchase homes and cars. In 1990, the mortgage rates were between 13 and 18%. Oh, and I don’t believe we had the special first time home buyers programs that benefit the current new buyers. My money allowed me to purchase what I often called a POS fixer-upper. Today, I understand first time young buyers require 2500+ sq ft, turn-key, spacious state of the art kitchen and baths in the best school districts homes with 3.5 interest rates.

And yes the environment took a hit during white flight when most of your parents and grandparents ran from the cities. How is that different when so many posters in the real estate section of DCUM are looking for big homes away from the cities to WFH while emitting gas and carbon as they drive to conduct all their errands and play. How are you millennials any different from the boomers you despise, especially with your entitlements. If anything, you’re carbon copy’s who have not fully matured into it, but you getting there.

Do you even know how interest rates work? Guess what happened when interest rates fell? Asset prices for interest rate sensitive assets (e.g., real estate, stocks, etc.) and inequality skyrocketed. That's great for those who already have existing assets. It's terrible for those that don't. Don't confuse "cheap financing" with the benefits of asset ownership, which is out of reach for many of the millennial and Gen-Y generation. Cheap financing benefited private equity firms, real estate investors, and others who were already in a position to invest. Most millennials couldn't afford the downpayment either because of the costs of an education and student loans (https://www.forbes.com/advisor/student-loans/college-tuition-inflation/). Let's not forget the costs of childcare either (https://listwithclever.com/research/cost-of-raising-a-child-over-time/).

You boomers want grandkids, amirite? Well, the next generation can't afford them.

The ones I know can afford them because they are buying condos, townhouses and houses as quick as they come on the market.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The Boomers paid like $1500 for tuition, $50k for their first home and then when their parents died at normal ages, got inheritances in their 40s. Now they’re super charged with modern medicine, loaded, and aren’t going anywhere. They’re also not maintaining their houses. Just check the market and see all the “as is” $1.2Ms that have fallen into disrepair. These folks need to start riding off into the sunset.

They were also making $40,000 a year with a masters degree. And their parents were primarily blue color workers- no inheritance.

+1 Thank you.

+2. Late boomer here. We graduated into a recession and took whatever job would pay the bills if we didn’t option of going to grad school. I paid 12% on a PLUS loan.

Millennials graduated into a recession too. You didn't have it harder, we all have had it hard. The comparison game doesn't look good on you grannies.

NP. You don’t need to be ageist. You could have left that off and still have been successful in your comeback. Ageism is pernicious.

—genX

Graduated early 80s. Huge recession factories closing, massive inflation , 18 percent interest rates. Billy Joel singing “livin here in Allentown closing all the factories down our teachers lied that an education gets you a job” Springsteen sang The River “isn’t any work on account of the economy”.

All the recessions since have never been bad enough for the most popular artists to write devastating lyrics about the difficulties.

Life is way easier and cushy today but people don’t appreciate it at all and are treading water in a sea of covetousness and envy.

What a strange take re: music.

DP here I think but the point is that older generations also faced hard times. The music is influenced by the widespread economic issues like unemployment.

The point is that life is cushier now but the population is weaker physically and mentally. Results in more covetousness and whining. I think the average boomer can still beat up the average millennial.

Not sure about your last point since our generation is getting up there but the rest is true.

Boomers raised millennials.

Exactly. There are so many millennials because there are so many boomers, which is why the term “echo boom” was created. So if your parents are boomers, and you’re posting broadside attacks on boomers, do you hate your own parents? I think most of this anti-boomer posting is from Gen Z — or from millennials who were abused or who had non-boomer parents.

Shouldn’t the same question be asked in reverse of boomers - why are you posting nasty attacks on your kids generation? I see a whole lot of offended boomers on this thread taking offense to every last comment. Shouldn’t the boomer generation be more mature than the millennial generation based on their age?

With age come privileges.

We know. Your generation put into place all the crap policies the rest of us have inherited. You seem so smug and proud of that. You should unpack that in therapy.

Boomers learned about the “cry it out” method for dealing with their babies. Rarely has it come in more handy than here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The Boomers paid like $1500 for tuition, $50k for their first home and then when their parents died at normal ages, got inheritances in their 40s. Now they’re super charged with modern medicine, loaded, and aren’t going anywhere. They’re also not maintaining their houses. Just check the market and see all the “as is” $1.2Ms that have fallen into disrepair. These folks need to start riding off into the sunset.

They were also making $40,000 a year with a masters degree. And their parents were primarily blue color workers- no inheritance.

+1 Thank you.

+2. Late boomer here. We graduated into a recession and took whatever job would pay the bills if we didn’t option of going to grad school. I paid 12% on a PLUS loan.

Millennials graduated into a recession too. You didn't have it harder, we all have had it hard. The comparison game doesn't look good on you grannies.

NP. You don’t need to be ageist. You could have left that off and still have been successful in your comeback. Ageism is pernicious.

—genX

Graduated early 80s. Huge recession factories closing, massive inflation , 18 percent interest rates. Billy Joel singing “livin here in Allentown closing all the factories down our teachers lied that an education gets you a job” Springsteen sang The River “isn’t any work on account of the economy”.

All the recessions since have never been bad enough for the most popular artists to write devastating lyrics about the difficulties.

Life is way easier and cushy today but people don’t appreciate it at all and are treading water in a sea of covetousness and envy.

What a strange take re: music.

DP here I think but the point is that older generations also faced hard times. The music is influenced by the widespread economic issues like unemployment.

The point is that life is cushier now but the population is weaker physically and mentally. Results in more covetousness and whining. I think the average boomer can still beat up the average millennial.

Not sure about your last point since our generation is getting up there but the rest is true.

Boomers raised millennials.

Exactly. There are so many millennials because there are so many boomers, which is why the term “echo boom” was created. So if your parents are boomers, and you’re posting broadside attacks on boomers, do you hate your own parents? I think most of this anti-boomer posting is from Gen Z — or from millennials who were abused or who had non-boomer parents.

Shouldn’t the same question be asked in reverse of boomers - why are you posting nasty attacks on your kids generation? I see a whole lot of offended boomers on this thread taking offense to every last comment. Shouldn’t the boomer generation be more mature than the millennial generation based on their age?

With age come privileges.

We know. Your generation put into place all the crap policies the rest of us have inherited. You seem so smug and proud of that. You should unpack that in therapy.

Boomers learned about the “cry it out” method for dealing with their babies. Rarely has it come in more handy than here.

[Anonymous]

Oh my god, yes. Let's let them cry it out. I'm older Gen X with Gen Y kids.

Graduating from college (attended on a merit scholarship) into a recession (1990) where I was grateful to find a job, I made $24,000 out of school, paid 40% of my pitiful after-tax income for my room in a DC apartment, and ate out once a month. I certainly didn't travel and entertainment was renting a VHS movie. Healthcare was too expensive so I didn't see a doctor until I was having kids. My parents took pity on me and helped with some work clothes and a set of tires for my car. At 27, I took a job I hated because they paid me a $20,000 starting bonus and I used that as the downpayment on my first crappy home with a very crappy mortgage. My mortgage payment was 60% of my take-home pay but I made it work because I wanted to build wealth. Over the last 30 years, we have worked 70-80 hours a week and made sacrifices to build our lives and give everything to our kids. I have never had the option to work from home. It has been a hard slog.

I can only imagine my young adult son living like I did. He'll never know because we're easing his journey far more than he or anyone of his generation deserves.

Wake up, you spoiled brats. Your parents had challenges and made contributions to society that are benefitting you. If you're expecting them to go quietly die someplace to get out of your way, I really hope they leave all their money to a worthy nonprofit.

[Anonymous]

Boomers can’t downsize because they own too much crap and are emotionally attached to all of it.

[Anonymous]

Wtf is with all this generational warfare? Don't your parents love you and vice versa? My Boomer parents and us - their millennial children - don't keep score. They are much wealthier than us and have given us free college, down payments, annual cash gifts, etc. I'm glad the Boomers got rich - it's making my life much easier.

[Anonymous]

Anonymous wrote:Wtf is with all this generational warfare? Don't your parents love you and vice versa? My Boomer parents and us - their millennial children - don't keep score. They are much wealthier than us and have given us free college, down payments, annual cash gifts, etc. I'm glad the Boomers got rich - it's making my life much easier.

*we, not us

[Anonymous]

Anonymous wrote:Boomers can’t downsize because they own too much crap and are emotionally attached to all of it.

My Great Depression-raised parents never threw anything away because they worried they might need it someday and not be able to afford it. Trauma is often involved in hoarding behavior.

[Anonymous]

Anonymous wrote:Wtf is with all this generational warfare? Don't your parents love you and vice versa? My Boomer parents and us - their millennial children - don't keep score. They are much wealthier than us and have given us free college, down payments, annual cash gifts, etc. I'm glad the Boomers got rich - it's making my life much easier.

It's stupid. Jeff thinks it's ridiculous and I agree with him.

[Anonymous]

^ I agree. Petty and immature.

[Anonymous]

I think tik tok has played a part in the generational warfare thing.

[Anonymous]

Anonymous wrote:Oh my god, yes. Let's let them cry it out. I'm older Gen X with Gen Y kids.

Graduating from college (attended on a merit scholarship) into a recession (1990) where I was grateful to find a job, I made $24,000 out of school, paid 40% of my pitiful after-tax income for my room in a DC apartment, and ate out once a month. I certainly didn't travel and entertainment was renting a VHS movie. Healthcare was too expensive so I didn't see a doctor until I was having kids. My parents took pity on me and helped with some work clothes and a set of tires for my car. At 27, I took a job I hated because they paid me a $20,000 starting bonus and I used that as the downpayment on my first crappy home with a very crappy mortgage. My mortgage payment was 60% of my take-home pay but I made it work because I wanted to build wealth. Over the last 30 years, we have worked 70-80 hours a week and made sacrifices to build our lives and give everything to our kids. I have never had the option to work from home. It has been a hard slog.

I can only imagine my young adult son living like I did. He'll never know because we're easing his journey far more than he or anyone of his generation deserves.

Wake up, you spoiled brats. Your parents had challenges and made contributions to society that are benefitting you. If you're expecting them to go quietly die someplace to get out of your way, I really hope they leave all their money to a worthy nonprofit.

1990 was not that bad the Fed cut rates in 1993 a lot then from 1995 to 1999 had the Fed induced bull market in stocks. Even 2000/2001 we recovered until the 2008 crash

$20,000 was a massive sign on bonus

[Anonymous]

Anonymous wrote:Wtf is with all this generational warfare? Don't your parents love you and vice versa? My Boomer parents and us - their millennial children - don't keep score. They are much wealthier than us and have given us free college, down payments, annual cash gifts, etc. I'm glad the Boomers got rich - it's making my life much easier.

I haven't participated in this thread much but not everyone has that experience. My parents got rich but I had to take out loans for college, and they didn't help me with a down payment. Their attitude is that I should do it the way they did. But they went to college when it was much less expensive. I've still done okay for myself, but I'll never be as well if as my parents.

I do think my parents are selfish, and fail to understand how the world has changed since they were young. My parents scoff at me for saving money for my kids education. They think I'm spoiling them. Or they roll their eyes when I say we can't make a family reunion or other events because of work, limited vacation time, or wanting to save money.

Anyway, some people might hate on Boomers because the Boomers in their lives are not great. I know Boomers like your parents too, but I hope you understand you're lucky in your parents. I think it's a minority of families who are like yours.