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Millennials: Uhm, we've been living that dream for over twenty years now.
I'm over 40 (one of the ancient Millennials) and literally I have only been able to live alone for exactly four years out of the twenty-three years since I moved out of my parents. I currently live with a partner, because, you guessed it, it's about the only way we can afford things now.
20 years ago, I could rent a 1 bedroom small apartment for under $1k. Now you're lucky to find the same for $2.5k. Pay has not more than doubled. They definitely have it worse than us.
Yeah let's not pretend it isn't so much worse now though.
Yes, but it's worse for everybody. Millennials that have been renting for decades... How the hell are they going to get ahead enough to save up for a down payment!? Meanwhile, housing prices keep rising, outpacing even combined incomes. I realize some people are able to make it work, but I don't think it's the majority...
Oh absolutely, didn't mean for that to be a takeaway. These kids have got it way worse than we do, they were fucked right out of the gate even harder than we did. Just had my Gen X "they forgot about us" moment.
Are we pretending that millennials are affording apartments alone? Cause I know very few doing that. Moving back in with your parents, though, that shit's common.
I was gonna say, most of Gen X has had roommates since we graduated college.
The headlines just keep repeating. Insert newest generation and print
It's getting measurably worse at a fairly predictable clip - boomers had it easy, x/y less so, it's dark for milennials, and impossible for zoomers/alpha.
The guardrails were removed and wheels set in motion by the boomers so they could more effectively ransack the economy - everything since then has been a consolidation of wealth and power at the direct expense of workers.
I'm in the Midwest. Most millennials I know are living on their own or with their partner. However, the younger millennials and gen Z I know? Very few I know aren't living with parents.
Landlords dream of a future where they can charge so much for rent that you need 3 generations of people crammed into a tiny apartment to make payments.
Just a reminder.
In 1960, minimum wage was $1.00/hour and the average home was $11,000.
So, national minimum wage is $7 something, so homes should be about $77k, right?
Quick history of inflation in America. President Eisenhower started the US/Vietnam War, and JFK kept it going. Ike and Kennedy both wanted to keep it small, but LBJ made a major commitment of troops and air power to deliver a knockout punch. That turned into a quagmire where the US couldn't pull out without looking like losers. President Johnson [LBJ] started printing money to pay for the War, rather than raise taxes. Nixon was elected as a peace candidate. Nixon's Vietnam policy alone is worth several books, but we'll just talk about the US dollar.
Nixon doubled down on Johnson's bombing policy; the US factories were working 24/7 to make more weapons. Great, except the money was all paper. When the Arab Oil boycott hit the price of everything went through the roof. Suddenly stay at home moms were forced to get jobs to keep the family fed. In 1968 'middle class' was one job to support a family, by 1980, two income families were becoming the norm.
Then came Reagan. Big tax cuts for the rich were supposed to make everything golden again. In 1980, $1 million was considered a vast fortune; by 1992 it was what a really rich guy paid for a party.
You can still buy one for that, as long as you don't mind living in Flint and like the taste of lead.
I got one in a niceish area for that. All you have to do is buy a small foreclosure and then spend literal years renovating while you live somewhere else and run up a bunch of high interest credit card debt paying for those renovations. 🥲
I came in to say something similar. Don’t focus on the price of the rent. The problem is the salary. Rent to salary has been going up and someone is pocketing the difference.
I'm a disabled millennial. I live in a dangerous old house with 5 roommates and I am still spending over half my money on rent.
Well there's you're problem! You're disabled, so therefore unprofitable. It's criminal that you have the ability to live while someone who could make profit for our corporate overlords might not. Shame on you for being a leech on society! (In case it wasn't obvious, /S)
That's the point.
Expect things to continue to get worse as long as most people believe the disparity in wealth should continue to grow.
It blows my mind just how many people support this through their rabid worship of billionaires. Not because they love the billionaires themselves, but that they think in some fevered future they too will be billionaires. Well, guess what? It’s never, ever, ever, ever going to happen and every day that passes the now-billionaires are tirelessly working to consolidate money and power to prevent proles from getting foothold. Stop being morons, and stop working against your own interests unless you’re a masochist then go nuts I guess. Leave the rest of us out of it
I saw a quote that I found 100% applicable and will never forget: "Europeans vote as if they will one day be homeless. Americans vote as if they will one day be billionaires."
US really needs a reality check on which one is more likely.
That's hardly a new situation.
The only people I know that live alone do so in extremely tiny apartments in unpopular areas.
The only real way to buy is as a couple, and has been for decades.
We need a new deal, I mean a new new deal. Because this is getting ridiculous, I'm lying it was ridiculous 20 years ago, now it is just the reason why dystopian fiction is impossible to write, how can you top real life?
What kills me is when you go into the realestate subs and they talk about how they have to constantly increase every year because the cost of everything is going up.
Nah bruh, I've had my house for 4 years and nothing has increased at any noticeable level.
This isn't new. I'm 43 so call me whatever you want, Gen X, Millenial, somewhere in between. I didn't live on my own (meaning without roommates) until about 10 years ago. And even then, I bought a house with my wife. so still kinda roommates.
Completely off topic, but in the article they say some apartment complexes are offering "private liquor lockups." Wtf?
Anecdotal, but when I was looking for my first apartment about ten years ago I toured a building that didn't allow residents to keep alcohol. Unsure if it's even legal (or enforced), but the landlord and property manager were a local pastor and his wife.
I got evicted this year so I feel it
"anymore" implies that until recently that wasn't the case
Meanwhile, in Canada, rent prices are so high that basically nobody lives alone anymore.
