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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]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.[/quote]

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

+1 Thank you.[/quote]

+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. [/quote]

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 [b]grannies[/b].[/quote]

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 [/quote]

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.[/quote]

What a strange take re: music. [/quote]

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.[/quote]

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.[/quote]

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

Boomers raised millennials. [/quote]

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.[/quote]

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.[/quote]

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.

[b]Millennials have had ridiculous free money or lower than low interest rates for more than twenty-years to purchase homes and cars. [/b][b]In 1990, the mortgage rates were between 13 and 18%. [/b]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. [/quote]

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. [b]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.[/b] 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.  [/quote]

I think you don't understand how this works yourself.  cheap financing absolutely gives you leg up in being able to purchase a home even if the home is more expensive. It's how the whole thing started with the housing boom of subprime zero downpayment and zero interest loans, and subsequent predictable bust of 2008 when these loans repriced and ppl who could afford monthlies before had to default.  Ppl think in terms of Monthly costs, not in terms of the overall costs or even DP costs, because DP is only 20% and in some cases 10%.  If property is 50% more expensive that's 50% or 20% that you need to pay more to own it and then your monthlies are affordable due to low rates.

We are younger GenX and bought our first property in early 2000s, and then again in mid 2000s at the height of the market, and then our suburban home in premium suburbs in 2012 when rates were 4-5%.  Because interest rate environment was so buyer friendly we were able to invest in RE, not because we had paid cash for our home upgrades. We didn't have cash to pay. One of them was a rental, so it paid for itself.  So could millenials, they were absolutely able to and many did take advantage of the low interest rate environment of the recent decade.  If they didn't, then it's on them, nobody's fault.  Progressive dem GenZ are more interested in commie and trans propaganda because they just don't want to work altogether or have kids due to Climate change and hormones/meds they take.  Urban GenZ is a lost generation and also not super interested in suburban lifestyle or mcMansions.  Next generation will be born to MAGA GenZ  (pivoting in the opposite direction of nuclear family, "trad wives" , "manly men") and migrants kids.  :lol:  That's your new buyers.   For everyone else the train has departed if they missed that train and didn't get on it when prices were cheap (boomers, oldest GenX) or rates low (Younger GenX and Millenials)[/quote]

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