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If America's so rich, how'd it get so sad?

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Re: If America's so rich, how'd it get so sad?

#711

Post by ElProlactin »

freetime2 wrote: post #663
tempaccount5050 wrote: post #649

Earlier quoted context omitted.

From what I understand, yes. My 24 year old coworker makes $65k/year and has a $2200/mo mortgage. It's an old starter home in the Midwest, nothing fancy. It stresses him out to the point of not going to a happy hour once in a while unless there's a buy one get one deal or something or I offer to buy (which I do happily). No vacations, no eating out, no fun. It's super sad to see. He talks about being in his prime but…

For what it's worth, when I was 24 I was only really focused on my career and didn't really have much of a social life. It wasn't until my late 20s and 30s that I started being able to comfortably afford drinks with coworkers after work, travel, etc. A $2200/mo mortgage on a $65k salary does indeed sound like a stretch. But even having a mortgage at all at 24 is pretty impressive, and he's probably still a ways off f…

> But even having a mortgage at all at 24 is pretty impressive...

Impressive in what way?

> ...and he's probably still a ways off from his peak earning potential.

That's an assumption, but even if it's probably true, to what end? The issue most working Americans face is that the cost of living rises faster than their wages.

> Then he might have a bit more income for discretional spending.

So...earn more so that you can spend more. This, in a nutshell, is the insanity of America's consumer culture.

> In short - yeah it's a grind, but it sounds like he's making responsible decisions and hopefully they will start to pay dividends in another 5-10 years.

Young people who are fortunate enough to be in a position to make "responsible decisions" should obviously do so (within reason) but this "grind for the future" mindset is also part of the insanity of American culture.

There are places in this world where people in their 20s can enjoy their youth without having to worry that doing so could doom them to financial distress for the rest of their lives.

Re: If America's so rich, how'd it get so sad?

#712

Post by hunterpayne »

retired wrote: post #575
jimbokun wrote: post #477

Earlier quoted context omitted.

My one vacation to Paris I was very concerned about the protests/near riots, things being set on fire, and garbage piled high because of strikes I saw on television. But we ended up having a great time. Got used to the piles of garbage, and the fires and protests were scheduled in advance so easily avoided. And I gained an appreciation for the willingness of French workers to stand up for themselves.

> appreciation for the willingness of French workers to stand up for themselves I wonder if you still have that view when your car is one of the hundreds that typically get set on fire during protests. Rioting and the government caving for a minority out of fear of violence is the most undemocratic possible and does not fit in 21th century society. I’m happy to grow up north of France where minorities don’t torch the…

You forgot the part where the French government (who doesn't control their currency) is going bankrupt. Some simple reforms would fix this problem but when they are considered, the crazies start burning down Paris. Its actually amazingly sad to watch.

Re: If America's so rich, how'd it get so sad?

#713

Post by scottyah »

davesque wrote: post #456
yason wrote: post #432

Earlier quoted context omitted.

It's a generational narrative here as well: while it gets applied to X, Y, or Z generations in turn and depending on the context - I think it started with X's - but the gist of it is that young generations couldn't afford the house they themselves grow up in. Even if their parents were basic blue collar families and the new generation are well educated. There's too much truth in that as people look back in the preced…

This wasn't some kind of mansion. It was a 1300 square foot house. I guess I'm aiming too high then while making 4x his salary? And people have been whining about this same problem for decades so nothing to be done about it?

well shoot, his grandpappy just had to roll up and Stake his claim on the land and it was his.

Re: If America's so rich, how'd it get so sad?

#714

Post by Geee »

mvdtnz wrote: post #317
Taikonerd wrote: post #107

The article is smarter than the title makes it sound. He's not seriously proposing that being rich makes you happy. And he notes that there's a big drop around 2020 specifically , which long-term trends don't explain. Just to state the obvious: 2020 was the year of COVID, which played hell with peoples' social lives. And I think it's been pretty well-proven that happiness is largely driven by the strength and quality…

I wonder if COVID revealed to Americans how toxic their individualistic culture is. For a long time it kind of seemed like individualism was working well for you but COVID was the first crisis since WW2 where the country was asked to pull in the same direction together and it really just fell apart. I'd be miderable too if I learned my entire worldview, and that of my countrymen, was dangerously wrong and there's no…

Actually the less collectivist approaches e.g. Sweden caused much less trouble.

Re: If America's so rich, how'd it get so sad?

#715

Post by cucumber3732842 »

sidewndr46 wrote: post #609
tzs wrote: post #454

Earlier quoted context omitted.

In constant dollars cars are actually pretty much the same as they were 40+ years ago when you compare similar types and trim levels. A new Honda Civic for example costs about the same when you take into account inflation as the Civic I bought in 1989. The average price people are paying for a new car now is (in constant dollars) about twice what it was back when I got that '89 Civic, but that is because a larger per…

You've got the cause and effect backwards here. The average purchase price of a car in constant dollars is about double now because those are the only cars to purchase and the only group that can afford those cars are those who are affluent. In general the people who purchase new vehicles ironically are not the ones who own them. They consistently purchase new vehicles at a regular cadence. The existence of some base…

>The existence of some base model Honda Civic or similar doesn't imply you or anyone can actually buy one.

There's a regulatory required number (it's not many) of those supper stripped down below the base model cars they have to make to advertise the "starting at price" so you can find them if you really try.

I know this because I know an old lady who (close to 20yr ago now) sought out the super base model of the.... wait for it.... first year of the CVT Nissan Altima! It didn't even have a radio.

It proved to be really reliable because it was well cared for and not driven hard, she gave it away to a nephew a year or so ago.

Re: If America's so rich, how'd it get so sad?

#716

Post by hunterpayne »

bryanlarsen wrote: post #513
bdangubic wrote: post #340

Earlier quoted context omitted.

I want all social media to be banned. Until that happens - nothing else matters... What I am doing about it - I do not use social media apps of any kind (since 2017), do not allow my offspring to be on social media, trying to convince my wife she should do the same (she is on facebook still because of marketplace), and absolutely ridicule anyone that uses social media (in a fun way)...

Is Hacker News not social media?

Its not, its a forum. The distinction is if there is an algorithm picking what you see (social media) verses everyone seeing the same thing (a forum).

Re: If America's so rich, how'd it get so sad?

#717

Post by [deleted] »

bontaq wrote: post #409

My mom said, "whatever we built isn't working anymore," and I think that captures most of the sentiment. It's also funny to see the "the economy is roaring!" "incomes are up!". Great, have they increased by as much as inflation? Can I afford a home? Work has if anything gotten worse in general. Remote's gone. Pay's less. ADHD maximum AI use required. Nobody can take a break. Pressure's on. 1.5 trillion more to the mi…

[deleted]

Re: If America's so rich, how'd it get so sad?

#719

Post by arkis22 »

Aurornis wrote: post #618
bontaq wrote: post #409

My mom said, "whatever we built isn't working anymore," and I think that captures most of the sentiment. It's also funny to see the "the economy is roaring!" "incomes are up!". Great, have they increased by as much as inflation? Can I afford a home? Work has if anything gotten worse in general. Remote's gone. Pay's less. ADHD maximum AI use required. Nobody can take a break. Pressure's on. 1.5 trillion more to the mi…

> It's also funny to see the "the economy is roaring!" "incomes are up!". Great, have they increased by as much as inflation? Can I afford a home? Gen Z home ownership is outpacing millenial home ownership at the same age. There's a lot of denial around this topic because everywhere you turn there's a Reddit post or news headline about how housing is impossible to afford. > Pay's less. Less than the narrow window of…

one thing to also consider is that maybe the younger kids who are capable of buying houses may be getting their down payment from the bank of mom and dad. not good for people thinking things are fair

Re: If America's so rich, how'd it get so sad?

#720

Post by corysama »

RickS wrote: post #639
whatisthiseven wrote: post #634

Earlier quoted context omitted.

Can you link a source for gen z with higher homeowner rates than millennial, st the same age? Because redfin shows that just is very clearly not true https://www.redfin.com/news/homeownership-rate-by-generation...

That chart is comparing point in present time, not point in generation-relative time. IE zoomers at ~25 mills at ~40. If you were to approximately age sync the red and yellow lines on that chart, by moving their start dates to the same point, the red line is higher.

> If you were to approximately age sync the red and yellow lines on that chart, by moving their start dates to the same point, the red line is higher.

Like this: https://imgur.com/a/d7stXVN

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