Reply to Why is DCUM SO conservative with housing?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]It is a change of generation. The younger generations don't believe in saving as much as their parents, grandparents, etc. They also haven't lived long enough to see the bottom fall out so they have never been scared senseless. Personally, I think society has gone sideways with the constant upselling on bigger, badder, better houses. It's not sustainable. I have no idea how these 6,000 sq ft homes are going to be maintained over the next 10-20 years. What will we do with them when our young kids and their kids want to bash and build?

Personally, I think we need to stop the perpetually supersizing mentality. But, alas, that is very un-American. [/quote]

Wait, you don’t think young adults the worked between 2008 and today haven’t seen the bottom fall out TWICE??

If anything, this generation understands that much better than the previous. My parent’s generation was super lucky overall, and their wealth was a lot more luck and lot less hard work than my generation or my son’s. [/quote]

I don't know how old you are so I would say that depends. Generations before us had real scares and hardships. If your parents are boomers then maybe they lived through the recessions in the 60s, 70s, 80s and 90s. Perhaps they also went to war in Vietnam and/or Iraq, and/or felt the effects of the Cold War. If they were the Greatest Generation then they lived through some serious warfare via WW2 and maybe Korea. My point is that the current generations haven't really felt threatened in the same way as Boomers or their parents. We've been relatively stable and nothing has scared us into putting our money into our mattresses like in the last century. Because we've been so pampered, relatively, we overspend like the world will always stay the same, peace will remain and life will go on. Maybe COVID will change that. I thought it would but I was floored to see how much people were spending during a time when we were in a worldwide pandemic.

Also, if you are younger, you may not have had any health setbacks. I have. I know that your life can change at the drop of a hat so I like to keep expenses low. The young folks think that they are invincible. So they spend accordingly. At least that's how I see it.

I can invest that savings. I don't rely on the appreciation of a supersized home. [/quote]

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