71–80 of 974 posts
A lot of my friends (and myself) have abusive parents. I seriously consider suicide to be a better option than going home.
But yeah, when I was living with them in my 20s for my Masters? I felt just like you did.
I live downtown in a coastal city. What I’m seeing is a lot of young men living in the streets. This is the other side of this story some young adults don’t have a home to go back to after job loss and eviction. We’re seeing just the tip of the iceberg. I expect a lot more social upheaval in the coming years. Social services are going to get severely strained.
I think people need to start realising just how incredibly much the government is now stepping in at each of these crises to make them as smooth as possible. But there is a downside to this. You are not allowing the normal economic effects to happen because you are wanting to keep everything as it is, but then guess what, the status quo stays, and anyone joining the ladder is finding it increasingly difficult. What's…
Letting banks burn down in 2008 would no doubt have been a cathartic moment, but it would be pragmatically a poor decision. Immediately post-crisis those responsible should be held responsible and actual action should be taken, but we don’t elect governments to lead us and then have them do nothing in a crisis.
Traveling everywhere all year long was amazing before... the current situation.
Earlier quoted context omitted.
Anecdotally at least, all of my friends around my age (32) have by now managed to buy homes at very reasonable rates ( Meanwhile my parents are stuck with their much higher 10% boom years interest rate, even though the absolute amount was much lower initially. Of course this is in Europe, not the states.
Is refinancing not a thing in Europe?
Remortgaging is a normal part of life, but you can imagine that there might be penalty clauses if you've signed up for a 10 year fixed and in year 2/3 you want to remortgage at different terms.
Millennials face a very real risk of being a lost generation financially. They have endured 2 major, years long recessions, and now the Covid pandemic coupled with social isolation and massive unemployment that does not appear to have an end date in sight. Housing is more expensive for them than prior generations, wages are stagnant, school is expensive and social conflict is also currently on deck. WW2 was of course…
"Major, years-long recessions"? In the lives of anyone 25 and under, there have been three recessions, the current 7-month recession, the 2008 recession which lasted 18-months, and the 2001 recession which lasted 8-months. Recessions in the US almost never last more than a year. https://en.wikipedia.org/wiki/List_of_recessions_in_the_Unit...
I think you're mixing up your generational labels. Millennial are pushing 40. Under-25s are typically referred to as "GenZ" or, more colloquially, "zoomers".
> ... 7-month recession [...] lasted 18-months [...] lasted 8-months ...
Those are some... VERY specific timings. For many, the 2008 recession lasted >10 years. Putting a very narrow specific figure on it needs a little bit of perspective. 10 years is obviously ridiculous as it represents the extreme, but the impact of any academically-defined "18-month" recession is always going to be multi-year.
Millennials face a very real risk of being a lost generation financially. They have endured 2 major, years long recessions, and now the Covid pandemic coupled with social isolation and massive unemployment that does not appear to have an end date in sight. Housing is more expensive for them than prior generations, wages are stagnant, school is expensive and social conflict is also currently on deck. WW2 was of course…
Earlier quoted context omitted.
I really don't understand the argument of "time to grow up" if a person lived without parents fine for years. Obviously he/she had already grown up.
I think it’s cultural. American society absolutely looks down on those that live with their parents as failures. If I were to guess, some parents might see their children asking to return home as a reflection on their ability as a parent to prepare for the “real world”, but that’s just my guess.
Its pretty disgraceful that for 99.99% of millennials covid is just a mild disease. We're shutting down everything for the benefit of baby boomers again. When its all over there will be no thank-you. House prices aren't even getting cheaper so young people again be shafted. Its crazy.