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Gen Z does not dream of labor

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Re: Gen Z does not dream of labor

#441

Post by marcusverus »

sidewndr46 wrote: post #399
polygamous_bat wrote: post #395

Earlier quoted context omitted.

That is a logical fallacy: owning a home != buying a home, inheritance is a thing.

To reinforce this, if you follow the links it states > The term "home-ownership rate" can also be misleading because it includes households that owe on a mortgage. Depending on your credit score and your down payment, you can wind up functionally renting a home for many years even if you "own" it on paper. It isn't until the final years of a 30 year mortgage that you actually significantly pay down the principal. As…

This doesn't really contradict my point. How do these people have mortgages if they're incapable of affording a down payment?

Re: Gen Z does not dream of labor

#442

Post by [deleted] »

shahbaby wrote: post #134
ozzythecat wrote: post #113

> American workers across various ages, industries, and income brackets have experienced heightened levels of fatigue, burnout, and general dissatisfaction toward their jobs since the pandemic’s start. The difference is, more young people are airing these indignations and jaded attitudes on the internet, often to viral acclaim. I left Amazon after a 10+ year career. I was encouraged to hire foreign nationals from spe…

If anyone is still thinking of joining Amazon, take a close look at your team. If you're the only local at your level and not willing to grind as hard as the Visa holders then you're probably being setup as the sacrificial goat for the PIP gods. In that situation it's not worth joining since within a year you'll probably need to start interviewing again.

[deleted]

Re: Gen Z does not dream of labor

#443

Post by yucky »

HWR_14 wrote: post #439
yucky wrote: post #390

Earlier quoted context omitted.

You would be wrong. I just pulled up Metro Detroit (4.5 million people) on Zillow and set my filter to $200k or less and there are hundreds of homes available within the metro area. Hmmm...maybe that's cheating let's check again with - Cincy, Cleveland, Pittsburgh, St Louis, KC, Dallas, Houston, Atlanta, Albuquerque etc. Working my way down the list of metro areas exceeding a million and there are tons of homes under…

You left out the "within 20-30 minutes of a high paying job" limitation. I looked on Zillow as well, it wasn't uncommon for those houses (if they were within 30 minutes) to be in such disrepair they needed to be leveled and rebuilt. It's disingenuous to look only at a sticker price. But yeah, within the hour and a half commute zone of a metro area, you can find affordable housing.

>You left out the "within 20-30 minutes of a high paying job" limitation.

Nope, again using the Detroit example you have Warren, Oak Park, Southfield etc literally sharing its border and within a 20-30 minute drive of anywhere in downtown Detroit or further out in ritzy Oakland county. Same goes for Arlington, Irving and several other suburbs of Dallas. I'd keep going down the list, but you get the point. Pretty much every major metro areas has housing under $200k with less than a 30-minute drive of downtown or major job centers in suburbs.

I know California is a different world, and that's fine. But the US is quite large with many large cities where you can find good careers and affordable housing. It just may not look as cool to post on Instagram...which I guess is the bigger problem.

Re: Gen Z does not dream of labor

#445

Post by ixtli »

strikelaserclaw wrote: post #425
imtringued wrote: post #400

Earlier quoted context omitted.

This is one of the most interesting aspects of our modern economy. We have rockets that go to space. We have nuclear weapons. We have automated industrial facilities. We have advanced healthcare. We have the internet and computers. We have basically everything, except the basics. The reason for that is the same and will stay the same, for the entirety of humanity. Land is a finite resource that must be shared with ot…

Land is finite but there is more than enough if we fix our stupid policies.

Yes but what about landlord feelings? Have you considered those??

Re: Gen Z does not dream of labor

#446

Post by marcusverus »

polygamous_bat wrote: post #395
marcusverus wrote: post #393

Earlier quoted context omitted.

Sorry to be so blunt, but you have absolutely no idea what you're talking about. The median household income = 67K[0]. >60% of US households own a home.[1] Clearly 80K is more than enough to safe up for a down payment. [0] https://fred.stlouisfed.org/series/MEHOINUSA672N [1] https://en.wikipedia.org/wiki/Home-ownership_in_the_United_S...

That is a logical fallacy: owning a home != buying a home, inheritance is a thing.

Only ~30% of people receive an inheritance, at an average age of ~50. But folks in their 50s already have a homeownership rate of >60%. I doubt inheritance has much of an impact.

Re: Gen Z does not dream of labor

#447

Post by ixtli »

chelical wrote: post #435
Clubber wrote: post #408

Earlier quoted context omitted.

Since around the 1960s, we've had large economic forces greatly increasing the supply of labor affecting wages: 1. Women entering the workforce, essentially doubling the labor pool. 2. Immigration - at least a million a year, every year. 3. Globalization - instead of local workforce, many companies can now outsource labor to cheaper countries without regulation. 4. Manufacturing - due to NAFTA, companies who once man…

US benefitted significantly from being the only major power that didn't have its labor pool and industrial base crippled by WWII.

Absolutely correct. And if you look out share of the global GDP has been steadily declining relative to the wealth of other nations since then. The days of American hegemony are numbered, thank god.

Re: Gen Z does not dream of labor

#448

Post by 121789 »

Clubber wrote: post #411
heavyset_go wrote: post #289

Earlier quoted context omitted.

> People who pick just what’s attractive at the moment are pretty short-sighted and I have no sympathy for them. What's attractive and what's viable are often two separate things. NYC is not viable for someone making $40k a year, but neither is moving to the Rust Belt where their "options" are working part-time in department stores or literal crime. Something tells me that this is a situation that can't be won in som…

The most obvious solution is remote work. The main economic reason people even live in large cities is jobs. If the jobs can be done anywhere, that would certainly revitalize a lot of the US to points we haven't seen in decades. I'd much rather live in a quiet rural area than in a city with high traffic, high crime and high costs. Remote work would also have a cascading effect. Say 20 people move to a rural area, wel…

I don't really think remote work will end up in any meaningful rural revitalization. The main urban->other migration I've seen from remote work in my peer group (USA) has been from urban large urban area->smaller urban area or urban area->suburban area. If that holds, we'll have more large cities and bigger suburbs, but I don't know that it helps rural areas at all. I think many people want to be around other people, and if you remove them from other people most of the day (with remote work), they'll want to see people even more after work. Urban/suburban areas are better for this

Re: Gen Z does not dream of labor

#449

Post by ghusto »

civilized wrote: post #306
ghusto wrote: post #277

Earlier quoted context omitted.

Wut? I asked two questions, one of which was me being genuinely interested to see where I missed the assertion that millennials have "4 and 2 times as much wealth as millennials do when they were the same age". I wondered if it was in the article, because I didn't see it. If you want to talk about reasoning though, I actually did give a reason this could be the case (if indeed it really is), by suggesting it could be…

> In 1989, when baby boomers were around the same age as millennials are today, they controlled 21% of the nation's wealth. That's almost five times as much as what millennials own today. > Many previous reports have found that millennials are, on average, worse off financially than their parents and grandparents were at the same age, despite being better educated. https://www.cnbc.com/amp/2020/10/09/millennials-own-…

Interesting! Now I wonder why this is. Could it be age brackets being stretched? That's just off the top of my head, but I'd be very interested to hear people who know about these kinds of things.

EDIT: Probably this:

https://www.businessinsider.com/millennials-highest-earning-...

Re: Gen Z does not dream of labor

#450

Post by cplanas »

spaniard89277 wrote: post #135
eulers_secret wrote: post #90

Earlier quoted context omitted.

This is part of why I left my job. I had the realization that my dream (homeownership/2 kids) was untenable with my income (~$135K TC) in my area. I could certainly get the credit for it, but my life would be one long hardship living under wage slavery, being house-poor, having little free time, paying exorbitantly to watch others raise my kids, and not having the opportunities I currently have... I kinda gave up on…

COL and everything, 135K is like the 1% in Spain. On topic: I have the same feeling. I'm trying to get a dev job, that would be a huge jump of income for me. But I'm 34, how much should I grind just to get "entry-level" stuff? I was pretty unmativated in my job, just coasting by and pretty much doing the bare minimum that allowed me to be in peace with myself. Remote work increased my productivity and my hapiness ove…

Spaniard here. Over 50k is definitely possible, particularly now with so many remote opportunities available. Unfortunately, those positions are highly-coveted, so prepare for long interviews with multiple stages.

I think becoming a software engineer is totally possible for you, you are only in your mid-30s. However, I think you need to like the field, at least a bit. Do you enjoy it?

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