Baby Boomers will own 45% of the nation's wealth when they reach their 80s (generation, cost)

[KonaldDuth]

I made a thread a couple months ago about how the younger generation is not on track to build any real wealth: //www.city-data.com/forum/polit...y-boomers.html

Turns out that exactly what I was trying to express was covered in an article that come out today: The High Cost of a Home Is Turning American Millennials Into the New Serfs - The Daily Beast

We are entering a new feudal system where Millennials are the serfs and Boomers are the lords.

[JGMotorsport64]

THey took it for everything it's worth, lived incredibly unsustainably, and tossed us the bill.

[AnesthesiaMD]

Originally Posted by JGMotorsport64

THey took it for everything it's worth, lived incredibly unsustainably, and tossed us the bill.

The housing market is back. The auto industry is back. Wall Street is back.

The Baby Boomers didn't have globalism to deal with. As a Gen Xer, I'm glad I was established before globalism really had a foothold.

[whogo]

Originally Posted by JGMotorsport64

THey took it for everything it's worth, lived incredibly unsustainably, and tossed us the bill.

We might leave ya a bit when we die.
From the link:

Those born in 1980, in contrast, have just a 46 percent chance.

46% chance of earning what your parents did is pretty close to 50% and the labor tends to be easier.

[Timmyy]

Originally Posted by KonaldDuth

I made a thread a couple months ago about how the younger generation is not on track to build any real wealth: //www.city-data.com/forum/polit...y-boomers.html

Turns out that exactly what I was trying to express was covered in an article that come out today: The High Cost of a Home Is Turning American Millennials Into the New Serfs - The Daily Beast

We are entering a new feudal system where Millennials are the serfs and Boomers are the lords.

Wow, the daily beast. Please post something that is relevant and not a B.S. site.

[KonaldDuth]

Originally Posted by AnesthesiaMD

The housing market is back. The auto industry is back. Wall Street is back.

Translation:

Incomes are stagnant, meanwhile housing prices are skyrocketing and Millennials can only "afford" new cars because there's an auto loan bubble.

[whogo]

Originally Posted by KonaldDuth

Translation:

Incomes are stagnant, meanwhile housing prices are skyrocketing and Millennials can only "afford" new cars because there's an auto loan bubble.

If you actually read your article there are cities, such as Houston, with affordable housing.

Used car loans, with decent credit, are 3-4%.

[AnesthesiaMD]

Originally Posted by KonaldDuth

Translation:

Incomes are stagnant, meanwhile housing prices are skyrocketing and Millennials can only "afford" new cars because there's an auto loan bubble.

Pretty much. Only I don't think you can say that auto loans are a bubble. I mean, how underwater could you possibly get on a car? Unless you own a Bugatti or something. Certainly not enough to declare bankruptcy.

[MetroWord]

Originally Posted by KonaldDuth

I made a thread a couple months ago about how the younger generation is not on track to build any real wealth: //www.city-data.com/forum/polit...y-boomers.html

Turns out that exactly what I was trying to express was covered in an article that come out today: The High Cost of a Home Is Turning American Millennials Into the New Serfs - The Daily Beast

We are entering a new feudal system where Millennials are the serfs and Boomers are the lords.

Speaking as a millennial, have you ever heard of compounded interest?

The boomers worked their entire lives and saved. Of course they got all that wealth.

[Mircea]

Originally Posted by KonaldDuth

I made a thread a couple months ago about how the younger generation is not on track to build any real wealth

And it would appear most of your claims were debunked.

Originally Posted by KonaldDuth

Turns out that exactly what I was trying to express was covered in an article that come out today: The High Cost of a Home Is Turning American Millennials Into the New Serfs - The Daily Beast

We are entering a new feudal system where Millennials are the serfs and Boomers are the lords.

In theory, the "insane wealth" of the Boomers will be passed onto the Millennials via inheritance.

Great wealth transfer will be $30 trillion—yes, that's trillion with a T

Great wealth transfer will be $30 trillion

If the Millennials squander that Wealth, then that's on them.