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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Remember when you took out that HELOC?  When you didn't actually save for your kids' education but instead thought of your house as an ATM? 
As crazy as you may think it, the Millenials did NOT cause the housing crash.  They did not dissolve your retirement funds.  They were too young to buy when all that went down.  
You may be bitter and have a few more years of wear, but you mid-forty somethings and up are not the geniuses you think you are.[/quote]

It took a million pages, but finally someone points this out.

Older Gen Xers and crusty ass Boomers are very judgmental and smug for a group that literally caused one of the greatest financial recessions in our lifetime from being greedy, materialistic and living completely beyond their means.

-Younger Gen Xer[/quote]

We oldsters are not responsible for the ludicrous lending to unqualified borrowers.  That was PC-homes for all.  Don't slam the group that believed in 10-20+% down and fixed rate 30 year mortgages.  No funk.[/quote]

Actually you are. Those bankers and brokers dividing up those bonds and creating the greatest recession and housing slump were not our current 1980+ born generation. That was all you. 
Those younger kids were just beginning to enter and graduate college when you fucked up the entire economy. [/quote]

Different PP here.  You're as bad as the OP.   OP paints an entire generation (Millennials) as irresponsible because they prioritize small luxury items and services over paying down debt and saving for life milestones.  You paint two entire generations (Boomers and Gen-X) for the economic recession that was created by a portion of greedy bankers and brokers and people who bought more than they could afford, or listened to the bankers and brokers who told them they could afford more.  The funny thing is that the victims in both situations (the millennials that OP castigates and the older overspenders that you blame) are the same type of people.  These are people who spend on the present instead of saving for the future.

Essentially both of you are flagging the same type of people, showing that they really do span generations.  There are savers and spenders in all generation.  As I said several pages ago, the only difference I see is that there may be slightly spenders than savers now than there were in prior generations. [/quote]

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