Boomers Vs Millennials

In a ritual as old as time, Boomers say the young generation are unmotivated and stupid, the Millennials say the old are blind and tech-illiterate.

These kinds of words have happened in every generation. The adults were squares and the children were reckless.

However, this time, maybe we should listen to the complaints. It is probably already too late, however we should make an attempt.

The young generation says, "We will never be able to afford a house".
Boomers say, "I was able to buy a house by working really hard, you are just lazy".

Unfortunately, evil things are afoot, and it is much more than simple laziness that is the problem

Boomers vs Boomers

What a difference a few years make.

The Boomer generation is not really one cohesive group. The early boomer got in on the ground floor of "asset inflation". The later boomers missed that opportunity.

In other words, if you bought a house early, and started collecting assets, you are one of the richest generations ever. If you didn't get into a house early, or lost it, then you are one of the poorest of the "richest generation.

It really was a window of opportunity that was slammed shut right as the later boomers were coming of age.

Early boomers own 25% of all houses. Many of them own two houses. (yes, they own two houses while many are homeless, but that is the homeless' problem for not hustling.)

The later boomers missed out, and have basically been treading water all their lives. And retirement eludes them.

And we just ignored the next generations having less and less people with homes.

The banks are to blame

This all started with money printing.

A bank should not be able to lend more for an apartment building than 25% * Average local income per apartment. That should be maximum rent an apartment owner should believe they can get. So, how does the bank ever think that it is appropriate to lend more than that? (well, it is because they are greedy)

If one apartment buyer says to the bank, these are going to be high end apartments, so give me more money, then there has to be an apartment owner that agrees to charge less. But there isn't any of these. We just have people trying to make money, and that is done by raising apartment rents. And so, the more people that say they are building/buying luxury apartments, the higher the rent becomes in the whole area.

And this really isn't about profit. All the money is going to the banks, who just loaned all this money into existence. In other words, higher rents make higher rents. The banksters and the flippers are in league together. Making everything cost more.

Also, since there isn't enough money to ever pay back the mortgages, the money gets sucked out of the economy, and people are paid less and less (relatively).

Millennials Complaints Fall on Deaf Ears

The young people complain that they will never be able to afford a house.
The boomers just yell at them saying, "When i was your age, i took on two jobs to buy a house"

The defeatist attitude will make it so you will never get a house, but when is it appropriate to just not even try?

If you are 5'-6" and in your 40s, becoming an NBA superstar is probably, 99.9999%, not something you will ever be able to accomplish.

If your life earning prospect is $999,999, and houses cost $1,000,000, is it better to just give up on that dream? Or do you find that extra $1? Or do you realize that you entire life will be wasted on a house. A mere house. So, why even try?

If the youth's minimum wage kept up with house prices from the boomer's time, the minimum wage would be $40 an hour, however, our economy couldn't support that. Even in CA where they moved fast food worker minimum wages to $20 an hour, well McDs costs $20 a meal. They didn't make it better, they just made everything cost a lot more. The real problem is the money printing sucking our purchasing power out the economy.

So, how soon do we recognize the young generation's plight?

An even worse problem is that the old generation has not turned over the reigns to the younger generation. As generations advance, the older generation is supposed to retire out, and make room for the younger generation to move up. The boomers, in a large part, are not. (Just look at our presidential race.) The younger generations are being told to pull themselves up by their boot-straps, while they have no real control, they are not giving any control over their lives.

Basically they are being told to grow up, while never being allowed to be an adult.

This ends in one of two ways.

1. All the old generation just dies
2. The young generation burns it all down.

The young generation are realizing that no matter how hard they work, everything they do is for not.
It is like paying rent. You work two jobs to pay the rent on a crappy apartment. In ten years, you are tired, worn out, and have nothing to show for your life.

This is the average. This is the norm. You have to be exceptional (or lucky) to get out of this cycle.

So, what do you do if the best you can do is suck?
That the average person, working an average job, cannot afford a house. What do you do?

Well, you check out of society. Become a N.E.A.T., or Lay Flat, or…

If a youth isn't allowed to be part of society, they will burn it down to feel its warmth.

All images in this post are my own original creations.