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

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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Not only were mortgage rates extremely low until recently, some of us boomers were at home buying age when mortgages were at 18%. I remember being ecstatic to refinance at 7%. [/quote]

Gen-X immigrant here.  Yes, our home too was purchased at 18%. We were in our early-30s, living in an apartment.  We delayed having a child for 6 years after we got married because we could not afford a kid. The cost of the house was 4x our HHI. This was 26 yrs ago.  We did for years without a fully furnished home.

Our wealth today is a result of years of frugal living and sound economic practices.  Tell the millennial to do the same and they will have a nervous breakdown.   [b]Yes, you can have our kind of wealth if you are willing to live our kind of life. No Starbucks, no processed food, no eating out, no travel, no concerts, no designer anything, no vaping, no pets, no therapy, no electronics, no Netflix, no smartphones.[/b]

Poor babies!!

[/quote]

So you spend your time sitting around in your house hoarding your money and gloating on DCUM?  Sounds like a charmed life...[/quote]

Sounds to me like they enjoy good food and actually spending time together. Sounds lovely. [/quote]

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