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Gen X Hits Another Bump in the Road

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11–14 of 14 posts

Re: Gen X Hits Another Bump in the Road

#11
post #2

Can somebody tell me who is considered "Gen X"? I thought I was, as a kid, but I believe I might even be too young. Kurt Cobain was in Generation X, right? I was 11 when he died. Where does that put me? What about my 5 year old? The whole idea of distinct "generations" seems wacky to me, but it sure does appeal to journalists.

'Generation' overgeneralizing is a cousin to decade overgeneralizing, a handy way to generate trend stories and social pseudo-science out of vague impressions. (The categories and qualities remain fluid enough that, like Astrology, anyone who wants to believe can find some support.)

I find it interesting that the 00's have been less subject to such generalization and nostalgia, and I think it's for no other reason than it's harder to say, with no one clear winning decade moniker, compared to the Nineties, Eighties, Seventies, Sixties, etc.

(The Teens may be a little easier to refer to in casual overgeneralizations, and then the Twenties will come a roarin' back with decade-o-centric thinking.)

Re: Gen X Hits Another Bump in the Road

#12

I've never understood why people think houses should appreciate in value. Houses don't get "nicer" as they get older. Now, I understand that a neighborhood can become more desirable, or the land where the house is becomes more constrained, but that doesn't apply to every house. I feel like most of America (outside the cities) has plenty of room. I guess that's partly why the housing bubble collapsed? It was based on…

They should appreciate simply due to a growing population + currency inflation right? Beyond that I'm wondering if the average homeowner (not a real estate investor) actually sees a high appreciation.

Re: Gen X Hits Another Bump in the Road

#13

I've never understood why people think houses should appreciate in value. Houses don't get "nicer" as they get older. Now, I understand that a neighborhood can become more desirable, or the land where the house is becomes more constrained, but that doesn't apply to every house. I feel like most of America (outside the cities) has plenty of room. I guess that's partly why the housing bubble collapsed? It was based on…

I'm no economist ... I think houses were appreciating while people were upwardly mobile in the economy. So not just more people, but more people with the means to buy a house (or borrow money for same).

Now we're stagnant, and people are talking about the disappearing middle class, and housing prices are flat.

Re: Gen X Hits Another Bump in the Road

#14

I've never understood why people think houses should appreciate in value. Houses don't get "nicer" as they get older. Now, I understand that a neighborhood can become more desirable, or the land where the house is becomes more constrained, but that doesn't apply to every house. I feel like most of America (outside the cities) has plenty of room. I guess that's partly why the housing bubble collapsed? It was based on…

It collapsed because it was a bubble being pumped up by the Federal Reserve and its' "easy money" market manipulations. That is the flawed logic of a Keynesian system, that you can plan and manipulate a world economy. You can't, and thus we ride the roller coaster of boom and bust. It's been happening as long as the unaccountable Federal Reserve has been calling the shots.
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