Reply to I know why Millenials can't afford houses and pay off their student loans..

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[quote=Anonymous][quote=Anonymous]Millenial family here with SAHP, two kids and plans for 1-2 more, paid off house, no debt, two cars, lots of degrees, etc.

...from our POV, the fundamental issue is how society is structured. [b]Inequality and predation abound[/b]...predatory healthcare, predatory education, predatory housing, income inequality everywhere, consumerism brainwashing you at every turn...it's hard to make the right choices all the time, and you need a lot of luck to not step on any of the mines in the field. [/quote]

Nothing has changed from the old saying that a fool and his money are soon parted.  What has changed is the institutionalization of the predation.  It seems there is no shame or embarrassment anymore.

A couple years ago the banks were getting beat up (rightly) for the way they hit consumers with every imaginable fee.  One thing they did was structure your transactions in such a way as to maximize your overdraft penalties.  Someone sat in a conference room somewhere and created that policy, and no one said 'this is wrong' or 'we shouldn't treat people that way'.

Or the way Fannie and Freddie threw gas on the fire of the liar loans, reverse amortization, etc.  Someone in an office here in DC said 'We need to be in that market' and basically mainstreamed what was until then a very limited market.  [/quote]

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