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Young adults are poor despite every metric which suggests otherwise

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Re: Young adults are poor despite every metric which suggests otherwise

#11

Post by watwut »

> Women now substantially outnumber men on university campuses and outpace them in degrees earned, yet the preference for husbands who match or exceed a wife’s income and education has not correspondingly relaxed. The result is a radical market mismatch.

College educated women marry at the same rate they used to. They marry similarly earning men without collage degrees, who exist.

Marriage rates collapsed among non educated women/men. Complete collapse is among previously incarcerated men who are largely out of marriage market. And generally among poor.

But like, college educates women are the demographic that do marry.

Re: Young adults are poor despite every metric which suggests otherwise

#12

Post by flohofwoe »

Avicebron wrote: post #8
al_borland wrote: post #6

> It’s Hard to See My Parents Live So Lavishly While We’re Struggling While I won't deny there are some problems currently, I think people comparing where they start to where others end is a huge mistake and leads to a lot of unnecessary anguish. Someone in their 60s is supposed to be doing better than someone in their 20s. They had 40+ years to work and save. If they did it right, that will put them in a better posi…

Well a lot of those now 60 year olds were buying houses and land in their 20s-30s..

Buying a house in their 20s... are you serious? If true and not just an urban myth, that must have been a US specific thing, maybe caused by the exceptional situation of the US coming out as the biggest winner of WW2. Anywhere else in the world you could be lucky to even move out of your parent's rented flat in your 20s ;)

PS: also, what's the obsession of young people with home ownership

Re: Young adults are poor despite every metric which suggests otherwise

#13

Post by honeycrispy »

Every time I think I have money I get massive insurance bills, massive property tax bills that increase seemingly every year, a fence I had to install so my kids don't get mangled by the pitbull 2 doors down that was $12k that was $4k 10 years ago. I know because my parents installed the same fence at their house. I'm paying a not insignificant portion of my income into a social security program that I'll never see a dime of. And I'm in my 30's. I can't imagine what kids in their 20's are going through.

When I was a kid I used to think that theives would break through my windows and steal my TV. Now that I'm an adult, I realize I'm being robbed daily through legal channels.

Re: Young adults are poor despite every metric which suggests otherwise

#14

Post by singingtoday »

flohofwoe wrote: post #12
Avicebron wrote: post #8

Earlier quoted context omitted.

Well a lot of those now 60 year olds were buying houses and land in their 20s-30s..

Buying a house in their 20s... are you serious? If true and not just an urban myth, that must have been a US specific thing, maybe caused by the exceptional situation of the US coming out as the biggest winner of WW2. Anywhere else in the world you could be lucky to even move out of your parent's rented flat in your 20s ;) PS: also, what's the obsession of young people with home ownership

I don't buy that because China has very high home ownership rates.

So it can be done. Even today.

Re: Young adults are poor despite every metric which suggests otherwise

#15

Post by flohofwoe »

thewebguyd wrote: post #9
al_borland wrote: post #6

> It’s Hard to See My Parents Live So Lavishly While We’re Struggling While I won't deny there are some problems currently, I think people comparing where they start to where others end is a huge mistake and leads to a lot of unnecessary anguish. Someone in their 60s is supposed to be doing better than someone in their 20s. They had 40+ years to work and save. If they did it right, that will put them in a better posi…

It’s not hard to see why people find that unfair or whatever though. It’s complete disillusionment with the “dream.” Why is our society/economy structured in such a way that we spend our youthful years struggling and only get to enjoy the fruits when we are older? It’s why FIRE is so appealing to some, you get to get out early.

> It’s why FIRE is so appealing to some, you get to get out early.

Isn't this exactly "spend the youthful years struggling and get to enjoy the fruits when you are older"? ;)

Re: Young adults are poor despite every metric which suggests otherwise

#16

Post by archonis »

flohofwoe wrote: post #12
Avicebron wrote: post #8

Earlier quoted context omitted.

Well a lot of those now 60 year olds were buying houses and land in their 20s-30s..

Buying a house in their 20s... are you serious? If true and not just an urban myth, that must have been a US specific thing, maybe caused by the exceptional situation of the US coming out as the biggest winner of WW2. Anywhere else in the world you could be lucky to even move out of your parent's rented flat in your 20s ;) PS: also, what's the obsession of young people with home ownership

Working class parents in their 20s in the USA could afford to buy their own homes well into the 2000s. Some got burned by cyclical factors, high interest, etc...; but many still achieved sustained lifetime home ownership.

Re: Young adults are poor despite every metric which suggests otherwise

#17

Post by Aarostotle »

flohofwoe wrote: post #15
thewebguyd wrote: post #9

Earlier quoted context omitted.

It’s not hard to see why people find that unfair or whatever though. It’s complete disillusionment with the “dream.” Why is our society/economy structured in such a way that we spend our youthful years struggling and only get to enjoy the fruits when we are older? It’s why FIRE is so appealing to some, you get to get out early.

> It’s why FIRE is so appealing to some, you get to get out early. Isn't this exactly "spend the youthful years struggling and get to enjoy the fruits when you are older"? ;)

Funny. The FIRE people I’ve spoken to have an attitude of “if I’m going to do it, I may as well go all-in.”

Re: Young adults are poor despite every metric which suggests otherwise

#18

Post by simmerup »

flohofwoe wrote: post #12
Avicebron wrote: post #8

Earlier quoted context omitted.

Well a lot of those now 60 year olds were buying houses and land in their 20s-30s..

Buying a house in their 20s... are you serious? If true and not just an urban myth, that must have been a US specific thing, maybe caused by the exceptional situation of the US coming out as the biggest winner of WW2. Anywhere else in the world you could be lucky to even move out of your parent's rented flat in your 20s ;) PS: also, what's the obsession of young people with home ownership

I guess you’re not British either then?

Re: Young adults are poor despite every metric which suggests otherwise

#19

Post by flohofwoe »

singingtoday wrote: post #14
flohofwoe wrote: post #12

Earlier quoted context omitted.

Buying a house in their 20s... are you serious? If true and not just an urban myth, that must have been a US specific thing, maybe caused by the exceptional situation of the US coming out as the biggest winner of WW2. Anywhere else in the world you could be lucky to even move out of your parent's rented flat in your 20s ;) PS: also, what's the obsession of young people with home ownership

I don't buy that because China has very high home ownership rates. So it can be done. Even today.

China is arguably currently also in an exceptional situation though. The question is how long that lasts. The next generation or the one after will most likely also complain that their parents were much better off when they were young ;)

Re: Young adults are poor despite every metric which suggests otherwise

#20

Post by dyauspitr »

watwut wrote: post #11

> Women now substantially outnumber men on university campuses and outpace them in degrees earned, yet the preference for husbands who match or exceed a wife’s income and education has not correspondingly relaxed. The result is a radical market mismatch. College educated women marry at the same rate they used to. They marry similarly earning men without collage degrees, who exist. Marriage rates collapsed among non e…

In divorces involving college educated women, they initiate 90% of them. It’s bad news all round.
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