Posted on 05/09/2024 11:33:07 AM PDT by ChicagoConservative27
The high interest rates and crippling inflation brought to you by President Joe Biden’s disastrous economic policies mean young people are saddled with more credit card debt than previous generations.
“Housing inflation has proven to be one of the stickiest components to drive up the cost of living, with rents outpacing salaries in all but six of the top 50 metropolitan areas,” reports Yahoo Finance. “Rising food prices and heavy student loan debt also factor in as young Americans are forced to tighten their belt by reducing expenses to their essentials.”
Maybe these idiots should stop moving to metropolitan areas.
(Excerpt) Read more at breitbart.com ...
They learned everything about spending and saving money from watching Congress as they grew up. Uh, oh.
Good! Vote for pain, and get what you voted for.
They’ll be pissed until the DEMs get them their debt bailout.
This is the price you pay for wanting to have no homework.
“They’ll be pissed until the DEMs get them their debt bailout.”
Oh, they’ll be pissed alright, at Republicans. That’s what their newsfeed will tell them.
They learned everything about spending and saving money from watching Congress as they grew up. Uh, oh.
Irresponsible breed’s irresponsible.
I’m “self-made”, never had a W-2 job, paid my own way through university & grad, no inheritance. I have three daughters in this age group, all degreed & employed. I’ve done it and seen it with their generation.
My monthly nut when I was their age was about $1,500.mo. all-in [mort, tax, ins, mainten, etc. for a 3+2 on 7k sqft in a regular, clean neighborhood in an LA suburb]. I was able to cover on my earnings alone, wife was abel to stay-at-home for the 10 years while the kids were little. There was no such thing as a “vacation”, but we did go camping alot.
The sentiment is spot on. There’s no reasonable possibility any of my 3 could buy their first house at 27 in LA, like I did [that same house is now valued at $1million, a 30-yr mort payment would be about $5k assuming a $200k down payment & excluding taxes, ins., maint, etc.]. I could get a 4-door sedan [never had a new one] for more or less a month’s salary. Insurance was an annoyance, but was always available and never broke the bank. Food budget, since we rarely ate out, was easy to control and stretchable [a good, 4-can pasta sauce can last for 3-4 meals, costed about $3-5 per family meal, all in]. Can’t leave a grocery store today under $100. Restaurants? Fuggetaboutit. It’s $200 minimum to take the fam out.
I wouldn’t say it was “easy” when I was starting out, but it definitely was “doable” with consistent work and delayed gratification.
Mine are fortunate. I can afford to subsidize them now & they’ll get something when I’m gone. But I think I’m very rare.
GEN Z HAS TOP SHELF APPETITES
AND BARGAIN BASEMENT INCOME
I never made more that $20 an hour
Never made more than $64,000 in any one year.
OWN ALL MY REAL ESTATE & EVERYTHING ELSE===
5.58 acres house/car/truck/4 horse trailer/horse/dog & a garage full of stuff.
Good job Dad. Mine are better off than we were. We will check out and leave them some..... But I am heartbroken for my nieces and nephews.
The world has changed in front of our eyes. The American dream is no longer attainable at this time, maybe later on, maybe not. The Democrats “And” the UNIPARTY PUB’S own this.
I pray for our future.
Yes sir. I call it Cadillac appetite and a VW income.
The wife and I have a paid off house and no debt.
We raised two kids on the Dave Ramsey plan.
They eventually listened and are doing well.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.