I think the issue is the numbers don't look at roommate situations. People really shouldn't be paying for anything over $1000 by themselves unless they have the cash for it. Humans used to live in pairs and groups not meant to live alone!
@@EsotericDichotomy So why didn't we have a 1$ minimum wage so our boomer parents had to live with roommates too? The concept of a bachelor pad is dead. You should question why twenty somethings never live alone now.
The sneaky thing about income taxes is you see what is on your check but tend to forget how much the government took from that. Another thing is people celebrating a tax refund after giving the government an interest free loan through the year. People tend to overlook how much they pay in taxes as long as there is a refund.
2% tax started a global revolution for the greatest country on earth, that same country is now being taxed at nearly 40% by the federal government. No one gives a crap in DC…
although tax is just one of your bills they take out for you. Its like saying your electricity is taken out before you get it into your account, so therefore its money you didnt get paid.
If you took the $243 rent from 1980, that would be an inflation-adjusted $963 in 2024. But you said that average rent in 2024 is $1747. A big piece of the problem is that the average rent has gone up WAY more than inflation.
Amen. I had to start renting about 5 years ago after losing my house. I hadn’t rented since the mid 80s and I had a nice roomy apartment (800 sq ft) for $345 a month which was less than 30% of my monthly income. Now I’m making $30,000 more a year and the cheapest apartment I could find is 600 sq ft and is 46% of my income. And they say rent should be no more than 30% of your income. I feel ya!
Don't forget that in 1980 they didn't have the same bills as us. Rent isn't the only thing we have to pay. In 1980 they didn't have to worry about paying for the internet, they didn't have to worry about having a smartphone plan, they didn't have to worry about falling into the subscription nightmare. Like in the 90's you wanted to see a brand new movie that just came out after its theater run ended? Go to blockbuster, pick it and any other AAA videogame you want to try for like $5 then watch it. Nowadays, you want to do the same thing? Better sign up to Amazon, Hulu, Netflix, HBO Max, Peacock, Paramount+, etc etc etc etc. Even if you limit yourself to only two or three monthly services that's more money I'd spend in one month than I'd ever need to rent in a month at blockbuster. Also shrinkflation. Everything back in the 80's and 90's was a much better value. It was big. It didn't have as many seed oils in it. It tasted better. The products didn't get thinned out and stuffed with filler and put into a smaller package. The dream is over everyone. Unless you're rich you get to enjoy barely struggling to live in a wretched state of almost but not yet. Die with thousands of dollars in debt. Only the wealthy get to have things like a home and afford vacations, you just make sure you show up to work and don't miss any days otherwise you fall behind in paying a major bill you can't afford to miss.
It's kind of both. What I mean is true inflation is higher than stated inflation. And housing has gone up even higher than that. Compare it to gold and housing looks fairly normal. Our money is just fancy toilet paper now in comparison
The average rent is more like 1657+60 bucks for parking and it does not include dishwasher nor dryer inside of the apartment plus it’s a super old apartment with a lot of issues
I remember being in high school early 2000s and my mom is a doctor. Her neighbor could afford a similar house to her and he worked overnights warehouse packing. Granted my mom is a penny pincher, but this would be completely impossible right now.
Just sent this to my boss who fired me for “bashing “ the company i worked for , for asking for a raise. 12$ an hour isn’t even close to a livable wage.
Which generation taught your generation what a percentage is? You’re saying that the people born between 1946 and 1964 don’t know what a percentage is, making you look ridiculous. People like you also like to say boomers don’t know how to use technology. Which generation developed that technology. Steve Jobs and his team were boomers. Bill Gates and his team were boomers. Don’t be ridiculous. You know what else boomers can do? They can manage with or without technology, GPS or map, social media and text or face to face conversation. They can tell time. I’m a 1961 boomer with a BS in engineering and a 20-course MBA that included IT, finance, accounting, statistics, economics… I don’t know why you thing an entire generation before you are idiots, but you are mistaken.
I earn the same today as 2010 but my money is worth 27% less than 2010. Meanwhile corporations keep posting record profits. They just don't pay their staff.
@@racoming1035 wtf is wrong with you? Your wages have stayed stagnant for the last 14 years? And you've done absolutely nothing about it? After college I worked at 3 different companies in a 5 year span. The third company paid around 70% more than the first company. You have to learn how to leverage your experience and negotiate for better pay. You have a serious 'skill issue' that needs to be addressed.
@@bladeofSteele You don't really need a degree to be a retail supervisor. How long have you been at the job? Why are you only making 20$ starting wage in my area is 20
Let's not forget most people want you to prove you make triple the rent monthly so you wouldn't be in that rental in the first place even as a college grad.
It's insane the measures apartment management is putting on the public to rent. People say "it's cheaper to buy a house" problem is you have to have great credit & a large down payment. Either way you're screwed.
Or quit making excuses and go buy an acre of land and build a house, or buy mobile home new/used, or buy a pre made cabin, or put a camper new/used on your very own acre/acres of land. But I guess buying an acre or so in the country is just too hard to understand.
My very first apartment when I moved out in 2015 was $800. And I thought I was living large. My job at the time was $13 and hour man I thought I was rich. Now I make $16 an hour with great medical care but it’s not enough for rent. Which so depressing. Went from living like a queen to about to pick up a second job just to help me eat
There is something that he's not mentioning as well. Almost all apartments will demand that your gross monthly income be 3 times the rent. Which in 2024 would be $5,241. So even if you knew you could make it work, you STILL wouldn't get it because they would deny you.
Which comes to roughly 32.76/hr if you're working standard work weeks. And that's before taxes, so realistically it's more because that 32.76 is being taxed at 22% then an additional 12% tax on any purchase
@@TheBlackSheepReport Facts! The apartment I moved out of 2 months ago still has a for rent sign up. And I'm still trying to get my deposit and rent back. About to JB weld their office doors shut 🤣
I had a part time job in 1973. Me and three friends rented a four bedroom Victorian in Portland, Oregon for $125.00 a month. I had enough money to buy food, pay bills and party, on a part time job.
I did 2 part time jobs in 2008 while going to college. One was $10/h for 25 hpw the other was $7.50/h for 10-20 hpw. 3 of us rented a 3 bed apartment in Tempe for 1800 total - so $600/m plus some for utilities per person.
Im a newly retired boomer. I cannot even afford a ROOM! Being single is very hard. I was lucky and found a live-in caregiver job for a while, to have a roof over my head and income. Otherwise my life has been reduced to living out of a camperSHELL. There are many like me, especially single older women! So Im right there with you! You can afford more than me!
Sounds about right. My high school Educated mother bought a 4 bedroom house at 35 while my UC Berkeley educated self is 42 and still cannot afford a house in the same neighborhood.
I’m not saying landlords are great, most of them are jerks, but imagine you own an apartment building and you don’t require someone to make 2.5-3x their rent cost. If they lose their job, they can’t pay rent, then you have to go through an eviction process, losing income on those units. It’s not like they do it for no reason.
@@mattelmquist4473 yeah, but housing market is out of control, driven by greed. May not be these small landlords, but these wannabe real estate gurus that are effin it up for everyone. Making the market go insane.
1984---i made $3.64 an hr, 2 bedroom house rent was $225, gas was 99 cents, I budgeted $30 a week for groceries for 2 people, full time was 37.5 hrs. In 1982, my first 2 bedroom apt was $150
Please tell others in your age group that the problem isn’t just lazy and entitled younger people. We are footing the bill for all the subsidized opportunities of generations before us.
@@shauntikayvette oh dude my whole group knows that the situation is fucked, we "calmly" correct 60-70 year olds all the time. "Oh, well back in my day you could buy a house from nothing within a year" yes gramps, but back in your day you could pay with labor. Nowadays 70% of our money is taken by the government to pad the pockets of corrupt politicians and a regular 9-5 can barely cover the cost of a sandwich. I dont know how many times I have to make this exact same argument but I won't stop until they either realize that they fucked everything up for us and fix it or the entire generation is dead. And we all know how much longer that'd going to take
And because the government decided everyone has the right to everything, they started increasing the minimum wage…putting more dollars into circulation and causing prices to rise. Rinse and repeat.
Congressional salaries should be based upon a fixed multiplier and minimum wage. So when Congress wants a raise, they will be forced to raise minimum wage by the same percentage.
They'll just vote to give themselves a raise, and not care about the negative effect that would have for everybody. Go ask california how $20 an hour is working.
@ShortArmOfGod absolutely. It's killing small business owners like myself. My crew is worth every penny, don't get me wrong. But when min wage goes up, so do supply costs. So we're still behind providing the same services!
I told my wife during the first Clinton administration that I think our generation would be the last for a very long time that could reasonably expect to have the same lifestyle as our parents. Years later it seems prophetic. My children are having a much harder time making ends meet than we did!
Well then you didn’t do a very good job as parents if that is true. The main reason younger people are having problems is because they don’t have their priorities straight. First, many choose stupid careers to go into, meaning a lot go to college and choose some stupid major that won’t pay anything. They just figure a college degree will mean they deserve a good salary, even if their skill set is useless. And even those that picked a good field are demanding to get paid far more than that degree entitles them to. No one wants to start at the bottom and work hard, they just want everything right now. And a college degree doesn’t mean you can do a job, or be good at it. There isn’t a single person right out of college that is qualified to a job. A college degree simply means you know the basics, at best. And let me ask you something, do your children have a smart phone and do they upgrade every year or so? How about the internet and streaming services, do they have them. Do they go out to eat or cook at home? How about when they are working, do they go out then or take their lunch. How about their cars, are they new or just a couple years old? Do they take vacations every year? And do they have kids of their own? There are so many people that say they can’t make ends meet but it is a lie. Making ends meet means paying for your housing, transportation, food, utilities, and basic clothing. All of those extras are luxuries and not needed. You live within your means at all times and you get those other luxuries over time when you can afford them. This country is the only country in which “poor people” have so many luxuries. They drive a new car, but they can’t pay their rent. They buy $8 coffees every day, sometimes twice a day, but they can’t afford to buy their groceries. And they spend $300 plus a month on smart phones, internet, and streaming services but they cannot afford to pay their electric bill. They lack priorities and waste money on needless things, many times putting them on credit cards. A good parent will teach their kids about priorities and how not to waste money they don’t have. Most of why a person cannot afford to make “ends meet” is because of their own actions, the rest is because of liberal politicians who don’t understand economics and spend way too much. Biden alone is responsible for a 20% increase in the cost of living since he took office.
@@TheCrazyMoparDude68 I agree a lot with this. I don't know how to get people to focus on what they can do, rather than what they can't or won't do. :C People have a lot of power to change their circumstances if they put their minds to it.
@@TheCrazyMoparDude68not the person you responded to, but as a current young adult, making ends meet is not easy. I have a 5 year old smart phone I was gifted, I pay $35/month on service for it, I don’t pay for any streaming services. I cook at home nearly every time, and when I do go out its a special occasion and still not an expensive place to go. I make a lunch for work and my car is 13 years old. I haven’t been on vacation since I was young enough for my parents to be the ones paying. So no, even without these luxuries, living isn’t affordable. I’m not in the US, but my pay is about 18 USD/hour, and I live in the country, not the city, so things aren’t even as expensive here. Theres basically no chance of me ever having a family of my own at the rate the economy here is going.
My music teacher in high school once told the class "you could make a living off of flipping burgers in the 1980s but the economy is so bad now you can't do shit like that anymore", it wasn't until I saw this video that I realized how fucking right he was.
Alot of restaurants and burger places are starting to go under.even burger King is talking about bankruptcy. Ppl dont eat out when things are expensive. It should tell you something when cookbook sales go way up.
I had to explain to my acting teacher that “starving artist” wasn’t feasible for me. Going hungry or sleeping in my car would be one thing, but my mom’s name is on my student loan, and my payments directly affect her credit. If I defaulted or did poorly financially she would likely lose her nursing license.
The most common boomer or boomer style response to this line of inquiry would be "get a better job" which, among many other things, implies that those who work minimum wage jobs don't deserve even sustenance level living. I don't understand how this kind of disregard is rationalized.
@@somedude7938 Selfishness. Entitlement, they've already got theirs so they don't care about anyone else. Religion is a massive contributor in my opinion.
Stop voting for the people whose policies increase taxes. Stop giving taxpayer money to people who break the law to enter the country. Stop voting for people who install judges & DA's that are soft on crime. Get involved at your local city council meetings. Local elections often matter more than national/federal. Rent goes up when school & firefighter levies are approved because the landlord pays property tax. Even though you don't pay property tax as a renter, you do pay through increased rent.
Here's the reality: since 1970, the Consumer Price Index has risen 500%, but wages have risen only 80%. That means that workers today, at every level of the wage scale, have 6 times less purchasing power than their 1970 equivalents. Put another way, in terms of purchasing power, a worker today earns only 16 cents for every dollar the same worker would have earned in 1970.
Turns out when you allow the government to unmoor the currency so that they can manipulate it in a dozen different ways it sorts of screws wage earners and tanks the power they have over the economy.
I can't help but wonder if doubling the workforce via feminism, and the entire continent of Asia rising out of poverty and undercutting us all on labor might have been a contributing factor
@@theredscourge Yes, those are both major factors. Mass immigration is another. Between women entering the workforce, mass immigration, and outsourcing, the labor supply has massively increased, which has massively decreased the price of labor (wages).
@@theredscourge Supply and demand. Before women entered the workforce, the household had to rely entirely on the income from the man, so he must get paid accordingly otherwise the job positions wouldn't be filled. Now the supply of workers has essentially doubled, companies are under no pressure to raise wages. Household now demand both parents work to sustain a household. And why wouldn't it? They can get away with it now. Meanwhile, companies are moving overseas due to lower taxes and operating costs abroad. And the population only continues to grow. Not only that, but fiat currency isn't pegged to gold anymore, so they can just print more through quantitative easing, adding more dollars into circulation which devalues the dollar and causes more debt. This is a Gordian Knot of epic proportions, and we are only just seeing the consequences of it now. It will get worse. "You will own nothing and you will be happy"
Yeah it’s the same in Australia. A Boomer could save a house deposit in about two years back in the day, now it’s ten. But they still saying “just work harder” 😂
@@MrStredders 100% correct. Aussie Boomers are just as myopic and greedy as American and other foreign Boomers. As an Aussie Gen X I am OK (now at 50), but my kids will struggle ...well, until I shuffle off and they get my assets to help them.
Poland here, the same. You can buy a flat only when your grandma dies. We are still able to rent, but we cannot buy a home as banks denies. The rent is the same as mortgage rate
My parents bought a house in 1973 for $20k… At that time, that was the equivalent of either of my parents’ (both born in 1942) salary (so 40k combined). That means that technically, that house could be bought for a year’s salary of a lower middle income earner. They sold the house in 1978 for $75k, when the boomer buying frenzy had begun. The house had more than tripled in price in 5 years. 4 years later, the house had doubled. That house today (a simple 3 bedroom bungalow with front and back yards and a detached garage) is worth a whopping $425k. Property investing is ruining housing around the world.
America is becoming a poor country. I interviewed for a job in the USA and they were offering less than 60% of the salary I already made in the UK. I am a data scientist and computer security expert.
This is what happens when you give a private banking cartel control over your currency and then add in absolutely reckless spending by "Representatives" who have been "lobbied"
Minimum wage jobs don’t offer 40 hour weeks due to healthcare reform. Find a non-minimum wage job and stick with it. The company I work for has more than 100 jobs posted right now. The expectation is 40 hours or more. Companies everywhere are hiring.
@@MrTyjnash from my experience companies did this way before health care reform, hell when I first started working some of my jobs giving 7.5 hours a day to keep me from being full-time.
Instead of numbers, I'm going to give an example. In the 1960's, my immigrant sharecropper grandfather with a family of 8 was able to buy a 4 bedroom house in a Bay Area adjacent area. I'm a legal aid attorney. I can't afford a 2 bedroom house in the same area.
That's insane😵💫 I'm in Colorado and in 2005 I turned 18 and moved out of my mom's house and into my first 1 bed apartment. It was $620/ month. I was cleaning houses, a job that paid a couple dollars above min wage. I could afford my apartment + food and utilities and gas. If i lived in that same apartment today and worked that same cleaning job, I'd only be able to cover the cost of my apartment. I did the math and I'd maybe have 1 week's worth of money left to put towards food and utilities. It wouldn't matter though. Because with the income requirements , I wouldn't even qualify to live in that apartment even with the full time cleaning job.
College is hit or miss. For those who finish, in high-yield degree fields, its good. For a lot of others who don't finish or pick low-potential jobs, it's a huge burden.
I don’t, but in California going to community college is free if you graduated after 2019 (~$500 a semester if not depending on course load, as you pay by unit rather than a bulk amount), then each semester at university once I transferred was ~$4500, so x4 that’s $18k over 2 years, not including rent. Things to keep in mind however: I was 21/22 making $56k a year which is higher than most 21/22 yr olds. Also this was a Cal State School, not a UC school, which has an extremely higher tuition rate, even though 99% of employers don’t care where the degree is from, they just care you have the degree.
@@johnathansaegal3156 My cousin earned "free rides" everywhere he went. Schools competed for him. I had an academic scholarship, too (just one). My parents had saved for my education. Within 2 yrs. of completing my formal education, I was able to pay off their mortgage, buy them a new car, etc. Had to just do it because my Father absolutely refused to take money. "I did my duty as a parent."
the reason for college taking all of your money is two fold, dnc policies and greedy teacher unions. so don't take an economics course, just keep repeating Marxist bull shit. you will go far.
@@charlebrownga I've applied for a mortage that would have only been 20% of my income with a great credit score and they still wouldn't give it to me but needing at least a 3 bed is the biggest issue. I could afford the mortage but was still denied
I can't help but wonder if convincing women that having a career then paying $2000 a month on daycare is the way to go, then outsourcing half the jobs to Asia, may have been a factor in wage growth not keeping pace with real estate price growth. And maybe tolerating millions of illegal immigrants per year coming in who need some place to live, while adding more and more bloated regulations which slow down the rate of home construction might have been a factor too.
Maybe it’s because the government used to have regular minimum wage increases every few years and now it’s been more like 16 years without any increases. Maybe it’s because there used to be a 90% corporate tax but now theres a 4.4% corporate tax rate and all the taxes have been shifted onto poor and middle class people. Maybe it’s because the government is bought and paid for so they don’t care about solving these issues with legislation. But nah it’s probably women and immigrants.
@@AstronomyGuru84 No convincing needed, birth rates are falling off a cliff worldwide. Turns out people don't have kids when the government steals over half of what they produce and uses it to pay illegal immigrants to have kids.
Many colleges started programs for careers that aren’t even required (like an optician for example) and slapped a big price tag on them as well. When you’re a kid you don’t realize apprenticeships are even an option to obtain the same exact degree, so you put yourself into debt when you *could* have been making $ instead of wasting it and all while learning the same thing and getting the same exact job at the end of apprenticeship
AI is going to replace you workers as well. Already has begun that. Also it you understand college graduated people that will get replaced by robots first. @@TheMpsmith
Its so much easier to control people when they are in debt and poor though! What better way than to convince the plebs that they can get ahead by spending copious amounts of money just to be employed in an entry level job? And if too many of them are able to access it, we will just increase tuition and loan interest rates! It's genius! How would the system work if we didn't have the backs of the poor to elevate the rich? Like... the Kardashians might have to actually do something productive for once in their lives.
@@augustuslunasol10thapostleUPS was hiring anyone during the pandemic. They pay 180k after about 6 years. Of course you have to work hard, so most don’t do it.
I couldn't afford an apartment on minimum wage either, good thing I was in Highschool and worked that job and learned how to deal with and manage money, and advance in a career. The problem with a minimum wage raise is it hurts the middle class, the rich just raise prices, the poor make more but costs go up so they live about the same and now dont qualify for the assistance they used to, the politicians get more taxes, and the middle class which is barely keeping this country afloat has there cost go up, but get no raise.
Im a boomer and have never once whined about how it was back in my day I know for a fact we had it a lot better financially than kids today politicians have really screwed them over.
@@dupajasio4801 There is always hundreds of people doing well.. That not the problem. The reason the cost of living is so dam high is not due to some rich CEO.. Its the government taxing us to death. Thats it. Its a simple fix. Downsize the government, stop the spending, get out of our dam way and the economy will BOOM
@dupajasio4801 it's because they offer something that's worth 8 million in commerce a week. Can't blame a hustler for hustling and making money with something in demand. My income is less than 5% what I bring in the company I work for. I know that. I also know I didn't come up with the idea for the service we provide.
In 1969 I worked at a gas station. Premium gas was 39.9 cents per gallon and minimum wage was $1.25. $1.25÷.40=3 gallons of gas. Today- $ 7.25÷$ 3.25= 2 1/4 gallons of gas. Gas is close, but rents are way off. I made $345 a month reading gas meters before SS and taxes. Drove a car I bought for $55 with a bad tranny and carburator. A friend pushed me to the junkyard where we got a used trans and changed it out on the gravel parking lot. Then drove it to the parts store and swaped the carb for a rebuilt one. Rent on a dumpy little house in the poorest part of town was $50 a month. That and utilities took all my 1st ceck of the month, $110. The 2nd bought food, gas, insurance, etc. I was better off then than I am now in retirement. So, yeah, it sucks today. Meanwhile taxes, at all levels, have increased about 500%. So don't blame your employers for the problem. Blame the politicians that spend your tax money like drunken sailors on shore leave. 😮😢
"Saying that politicians spend like drunken sailors is an insult to sailors, who at least have the decency of spending their own money" - Ronald Reagan.
@@NLJeffEU Regan OK'd that tax increase and amnesty for the illegals at that time on a demoncrat promise to use some of the money to seal the southern border. They didn't and never have. Both parties are to blame for the mess we're in. So don't blame one side or the other. I will say though, the demoncrats had total control of congress and senate for over 40 years. The years when most of the crap causing today's problems were made law. And when the Social Security fund was drained/ stolen.
This is exactly what the older generations don't understand, it doesn't matter how much you made, what matters is purchasing power. If you make a million dollars a day, and a loaf of bread costs a million dollars, you're poor!
My dad used to show me pictures like "These were my two cars, my three bikes, and my jeep I kept for leisure", and I was like "Weren't you a roofer's apprentice?"
Right? My dad was a alcoholic and drug addict who built houses sometimes and we lived in a 4 bedroom two bathroom 3200sq ft custom house he built on 7 acres outside dc for $30,000 and he and my mom had multiple cars and trucks and my mom didn’t work til we were older and then as a librarian. lol boomers have no idea. My mom sends us 600k home listings for a two bedroom house, I’m like woman did you forget your grandkids?
My father was a career drug addict alcoholic, he ALWAYS had multiple vehicles, trucks cars, beaters, jeeps even a convertible at one time. He probably went through 30 vehicles in his life it was like everytime he picked me up as a kid he was in something different. He also always lived on his own in random apartments in random cities. He was a under the table carpenter and spent like half of his money on drugs and alcohol, atleast. I am a sober hard working Man and I couldn't afford another car if my life depended upon it, used car that's 12 years old and barely runs. It's the Only vehicle I have Ever owned. Our quality of life has been DEMOLISHED by our Government.
It’s not that the minimum wage needs to be raised, it’s that the government needs to stop fucking taxing us to death. If you added up all the different ways they tax us, I’d be willing to bet that they steal at LEAST 2/3 of the average person‘s total income.
@@segganew voting for their raises makes people working for minimun wage even more fucked because it makes way less money circle in the market. this is a L to L situation
I'm Gen X. My parents bought their 1st house for 12 blueberries and sold it in 2016 for 2.1 million dollars. They don't understand why my 25 year old college grad son works 2 jobs
@@EsmeraldaTOPeAutista I mean. Gen X was left to fend for themselves, plenty of youtube shorts on Gen X sharing their I dont give a shit mentality bc they were left to fend for themselves. @fatlary1184 just confirmed it
So glad I did an economics lesson with my son. In 1999 I had an early career job paying 31k. I got an apartment for 700 a month, no problem. I was a very high qualifier. In 2023 the same job in the same company, salary is 44-46k. Same exact apartment is 1561/month. Called the complex, explained to the manager what I was doing. She said no way on that salary alone even without other debt. Would need a roommate w additional income (it was 1 BR apt). She also said their evictions are 3x what they were 10 years ago with much looser policies for doing it. Huge lesson for my son and an eye opener for me. Salaries except at the very top don't keep pace. Minimum wage was not designed to be a living wage, it was designed for high school kids summer jobs and people looking for extra cash. Starting with the early 90s recession it became a way of life.
I'm from California. My parents bought their brand new house in 1979 for $125k, sold it for $800k and of course bought a house in Texas because they knew they couldn't find anything they wanted or where they wanted under a million. It's crazy.
My grandma died and I offered my aunts and uncles and my mom to be able to live there if I paid enough rent to cover the taxes. I'm in a one bedroom with my daughter because of housing costs. My mom and my aunts and uncles all own a house. They didn't need the money because my grandma had quite a bit. Well they sold the house and are now pissed the guy who bought it renovated it and turned it into a section 8 house.
A Coworker here west of PDX bought his first place for $98K in ~01, sold it ($110K)when he transferred to Austin in ~05, bought a beautiful home there with stonework walls, 3 car garage for $165K...
"because they knew they couldn't find anything they wanted or where they wanted under a million" Or they could have rolled that equity forward into the new house and have only had a $200-300K mortgage.
MAGA boomer uncle got their house for 150k, it's 1.4mill now and cherry on top, they only pay 6k in property tax as well, so they have no reason to ever sell it, and can just live on the rent (4k+) it can generate for their retirement if they wanted to, but you know they made a crap ton everywhere else as well, without trying at all..
1984 after HS I went to Earth Moving Equipment training. Paid 5k for the school. Got hired before I actually graduated. The company that hired me paid off my loan and started paying me $50 an hour. After 60 days, I went up to $75 an hour. After 7 years, I started my own company, eventually earning 750k a year. Sold my company 5 years ago for over 10 million. Trade schools are much better.
Ah, but you don't understand. We simply MUST spend our tax dollars on funding foreign wars and building our transportation system around the most expensive and least efficient way to move people around.
My parents bought their home in 1981 for 79,000 in San Diego California. My dad was the breadwinner making 350 a week while my mom stayed home. Those days are long gone.
Here in Nashville this is accurate. I live in a two bedroom apt which is 1800. And I live 30 min from the city. Rent for a 1 bedroom in Nashville is almost 2000
As a University of Texas student in 2001 Austin, my share of rent in a brand new built 3br apartment (community pool, weight room, BBQ, landscaped) was $325. I was waiting tables and bartending at the time, I could make my month's rent in two, sometimes even a SINGLE shift. Those were the good ol days!
@DC9Douglas why's that? Can you point to anything he's actually done to cause this? Like not just parroting bs examples not backed by any facts but an actual piece of legislation , regulation, or anything at all verifiable, that you believe is causing the issue?
So why are you whining?? Inflation is high because YOUR generation demanded all those “free” things from government, protections from their own negligence and refusal to pay your rent, over bidding on homes by tens and even 100s of thousands, minimum wages of $20+ for 0 skill jobs…. You created the mess - deal with it.
Theses Einstein’s always trying to lie about reality. Everything is up so even with 24.00 you can’t survive. Ask him what everything besides rent adds up to? I’m sure his 48% would jump once he adds the water bill the trash the electric bill the health insurance the car insurance the high grocery bill. A 135K home now 480k is no problem? This dip sh*t is high on drugs.
@@Max-ki6dfIt's also bad for parents who see their kids struggling and can't help (and who have such a thing as empathy). The only people it's good for, are the ones owning the investment properties. Some of whom may be parents, who may or may not be helping their kids....
@@br3669 My point is that the system is completely rigged, against people from poor backrounds, and if not changed more and more people will fall out. From an empathy stand point it's bad for everyone ofc
This channel is making all of the points I’ve been trying to tell everyone in my social groups. Another point: Stop thinking $100K/year is a good salary, etc. as companies have been milking that illusion for far too long. “6 figures oh boy! We’re sure paying you a lot!” Anyway, keep em coming man. People need to hear these things more.
But 100k a year IS a good salary, and that's not even debatable. It's well above the average in any age group. Just because people want to live in a city and pay 2500 a month for rent and massacre their earnings doesn't mean it isn't a good salary. If you make 100k and are living paycheck to paycheck it's a you problem. I am gen X and I'm tired of all this bullshit surrounding salary and cost of living. You have so many options, more than ever, to improve your cost of living and work remote that if you are struggling it's your fault. Like the other guy said, learn a trade. Be an electrician or a plumber and make good money. You guys believe everything is so bad because morons like this guy keep saying it's bad and none of you do anything to improve your own situation. Are things too expensive? Yes, they are. But it doesn't mean you can't live a good life. Stop complaining and make your life better.
@@georgen5882 like you said, you’re GenX. Try coming out of school trying to make ends meet with a family, a mortgage, and being on one income. Yes, it’s doable, but barely. And yes, it’s above average, and average is sadly lower than it should be for the reasons this guy talks about.
@@JJ-qo7th And worker scarcity. When I was trying to get into the unions in 2007 - 2012 I was competing with 1000+ applicants for 3 to 5 apprenticeship positions. These days the millwrights, pipefitters, electric brotherhood, etc...take apprentices almost no questions asked and they even lowered the apprenticeship time. Now if suddenly we had hundreds of thousands of potential applicants start applying for the unions I 100% guarantee pay would drop. Perhaps not the actual wage, but the amount you get to work per year. They already cut retirement pension in half for pipefitters & plumbers.
@@samanthafortier1763 Why would they do that? They've just imported approximately 12 million cheap laborers to do those jobs that'll be happy to get $2 an hour once their free ride from the traitors running our government is done.
Minimum wage isn't supposed to be for adults. Minimum wage is supposed to be for entry level teens starting their work life. They get little money because they have no experience. Why would anyone pay someone $10+ an hour to do a job they have literally no experience doing. If you are 25 + years or older and making $7.25 an hour that's on you. You need to learn a skill that makes you and your time more valuable to someone else. It's not the companies responsibility to pay your bills. It's your responsibility to be an asset worth paying more than minimum wage.
A lot depends on where you live. I live in a relatively small town (120k people). Walmart starting wage is $18/hr. 1br apartments are anywhere from 890-1350. Big cities are always way more expensive. If you can, I'd suggest relocating for a more affordable city.
Now imagine that among all of the developed countries the US is now No1 and suffers from the economic crisis LESS than any other countries. The whole world is completely screwed right now compared to 80s.
That's because they have 11 Mexicans living in them all sharing the same social and rent costs, while not paying tax. I am literally a house cleaner and if I had a penny for every Mexican nest I've seen on the job, I'd probably be able to afford a house lol
That only means that a large number of people are willing to pay 30% of their salary to live there. A genuine question I have, is this like this in all cities or only in the most populated ones?
my house is made of chinese wood and built by a group of nice hispanics. I also live 30 minutes outside of the city limit. I dont understand how the bill came out to 500,000$?
@@chefaku You mean to Sleep in for about 8 hours MAYBE. Most people, if not via Online, still leave home to go to work. Most people don't spend most of their times at home, except the "Weekends", maybe. A Home is a nice Box to Collect our Materialistic Goods in and hope it stays in there while away moreso than for Living in.
And in 1980 we didn't have to pay the internet bill or the cell phone bill. Just a landline. And the average student loan debt was, adjusted for inflation, $12,800.
We do not NEED to pay the internet or cell phone bill today either. The student loan was not adjusted for inflation, the student debt/Government guarantee and greedy colleges caused it to go up.
@@jmackinjersey1Jesus Christ.... How can you be an adult and be so clueless about how the world works? Do you know what email is? Do you know that literally millions of people have jobs BECAUSE of the internet? The fact that you think someone can live nowadays without the internet proves you've never set foot in a university in your entire life so how can you even presume to know how much money a student needs?
@@jmackinjersey1 Most jobs require you to be able to be reached via telephone. In case your boss needs to call you or HR or someone else. I'm just a cook and I have to be able to be reached. ESPECIALLY if I want to be in any position of management/head chef.... Good luck trying to get an executive chef job without a cell phone lol ...
Weird how he doesn’t mention within five years of 1980 prices doubled and not salaries, oh but that wouldn’t fit his narrative. Unfortunately every generation has dealt with this 🤦♂️
If you had a brain jack raising minium wage was the start of inflation..companies has to raise prices to make their wages so company stays in business...
@@johnpalumbo6408 Inflation happens anyway, is the government supposed to let companies pay people less and less while giving their upper management more raises
@@ExcavationNationtaxes vary widely by state. He would have to do a national average and that would be confusing to most of the people watching this because their income tax could be much lower or higher than the average. He chose not to use taxes to simplify his point for a short.
@@bigfeesh5152 that's not true, take the federal tax rate, simple. I get state taxes are variable but federal is the same for everyone at their pay bracket. Cute try tho.
While wages haven't kept up with costs, my 18 year old son got a welding job immediately out of high school, making $32/hr. The trades are so short on staff, you can make a very good living, with no school loans. If you're going to go to college, you had better make sure you study something that makes financial sense once you get your degree!
Yes, getting a trade is probably the best thing to choose to do cus any trade certificates a person gets will always have them employed in some form because those jobs are in demand. However, most young adults are not going to choose to obtain a trade because it is not the cool job that they can't post about on social media to get likes and attention.
28 here trades are the way but it's not really an option to work really anything else I mean unless you have a trust fund, or some other kinda generational wealth.. I'm a 5th year apprentice and studying for my journeymans exam and even with that I still won't be able to live without roommates. I make 18 and hour and work 50-70 hours a week and man are taxes eating my ass up. I end up with like 6-7 hundred a week and that really doesn't make it far with how much it costs for tools in my trade, and when I've done my taxes I've never received anything over $300 when that's what they take from me every week because overtime puts me in a different tax bracket fucked if I do fucked if I don't. Then when I hear the older generations talk about how soft millennials and gen z are. We're out here making America work and y'all are out here are the actual cause. Think about it. This didn't start with the last 3 generations I'm not going to baby you though by giving you examples I'm to tired from overworking myself, learn how to use a keyboard and the Internet and do some research also fact check yourself before you get on my reply talking out your ass because I'm not the only one that feels this way. 👍
And how long will that last? Everyone and their mother is going into the trades. The massive influx of labor will create a bubble, then their wages will start to drop again. The same thing happened to truckers during covid when everyone thought it would be the new gold rush. Now truckers aren't getting paid the same.
@@RabidDisposition That was the case in Poland 25 years ago. Everyone was going to trade school, not enough went to college. But then most of trade people went to other countries and the rest started studies. Millenials were told to get a university degree no matter what. So now we have people with masters degree going back to trade, but it's so much harder to learn manual work than study at the university, people cannot keep up. So there's still a shortage of skill workers and people with masters don't want to "downgrade" even if that means low wages. There's so many lawyers, that after my studies I was working minimum wage and after couple of years I switched to programming, but then again there's too many programmers XD
Too Big Too Fail bankster bailouts was the start of the worst of it. Remember all the ownership society bs spewed by politicians and liars loans. We're living under the rule of wreckless conniving greedy tyrants.
It's *kind of* inflation. Inflation is unavoidable, and in a healthy economy it is proportional to growth and doesn't devalue the currency. The problem is that US inflation isn't coupled to economic growth, it's coupled to how much money billionaires disappear into offshore tax havens. Every time the government prints a new dollar, it just disappears into a billionaire's hoard, and everyone else's money is worth less, which makes everything more expensive.
@@NonEuclideanTacoCannon this is nonsense. Inflation ALWAYS devalues the currency, that's literally what it is. That's definitionally what it is. Nothing you've said is correct here.
@@TheRhysStreams But the real question is why is the same work not netting the same value it used to. Where is that value going? It isn't going to the worker and it isn't just magically disappearing. Someone is getting it.
Back in 1958, my late husband was bringing home $48.46 weekly. We found a great upper flat in Detroit for $55 a month. When we moved a mile away to another upper, our rent was only$40 monthly, and the landlady cried because she felt bad that she had to charge "that much"......
Zoomers forget that not nearly as many people went to school or were able to get loans back then. They also forget there weren't phones and barely computers, and those mostly played pong. Take for granted miracles.
@@AverageJoe-12 are you really gonna blame phones that shit is a cliche I see more people age 45 or 50 at my job on their phones then gen z and when they do look it's a message or a phone call
@@AverageJoe-12And how many jobs incorporate technology into the day to day functions and even the application process? Oh that's right! The vast majority do. So because you weren't able to get loans that means we should have to suffer through predatory loan companies that you allowed to take over? Oh right my mistake, I should've been at the polls when I was a child.
@@AverageJoe-12 The stupidity of your argument physically hurts my brain. Boomers who went to college were able to pay tuition by working a summer job at minimum wage. And most jobs at the time didn't require college, so most did not go. Now, the same jobs require a higher level of education simply as a means of weeding out applicants because Boomers allowed the workforce to be flooded with tens of millions of immigrants. And I dare you to hold a good job without a smartphone in this day and age. Your generation has destroyed your grandchildren's ability to afford a family. You have effectively killed off your own bloodline.
I finished college in 1980. My first apartment rent was $400 for a one bedroom in the Chicago suburbs. This year, I was offered a lease renewal at less than $1600 for a two bedroom in Raleigh Durham. I think those averages may be slightly off. Nevertheless, you are right about rents being higher in relation to wages.
I was looking at some studio and man, almost 2k, the cheap one are in the bad neighborhood yet still up there in the thousands, totally a bad time to look for apartment
@@EsotericDichotomy I should learn more about the various regulations, see how much I think that is to blame in the past, the US government helped greatly increase the supply of real estate several times, but we’ve shifted so far right in recent decades that people would scream communism and be angry if that were repeated
Please keep making these because I’m so frustrated with the gaslighting of the previous generation talking about younger people are lazy and entitled when we are burdened by the expense of all of their entitlements
I think the entitlements were a scam all along. I don't want to pay for a Boomer's social security or medicare. I will pay for myself and my family, stop taking my money to pay for strangers who didn't save for themselves!
As a boomer I'm frustrated by being blamed for the cost of housing. I'm a freaking secretary that never made more than $15.45/hr. But yet your problems are all.my fault? I helped my daughter buy her house. Why don't your parents help you?
@@crismcdonough2804It, simply, isnt about you specifically. Its about all the boomers who went into government and passed every law they could get away with to screw up our economy and pad their own pockets. It about all the boomers who went into the the top tiers of companies and made toxic work environments, and then used all the people's effort and exploited them to, once again, screw up the economy and line their own pockets. Its about the advice boomers gave their children, telling them to go put themselves tens of thousands of dollars in debt that they could not ever get out of, and kicking them out of the house at 18. Like, nice for you that you arent the worst person in your generation (maybe; I dont know much about you), but people will generalize based on a percieved majority, and the majority of boomers have had a hand in ruining the country for anyone born more than 20 years after them
@@crismcdonough2804Some people don't have living parents, let alone, parents who can afford to help their child buy a home... especially, if they have more than one child. 🙄
@@crismcdonough2804it’s not specifically *your* fault. You’re one person in a generation that commonly bashes this one, that doesn’t necessarily mean you unless you actually are part of the problem. This isn’t an attack on you
Here's something sure to blow your mind: The minimum wage in Iowa is...$7.25. Most places start at $12. Hey Governor, can YOU live on $12 hour, part-time, with no health insurance, and pay over $1000/month rent!!! No??? RAISE THE MINIMUM WAGE!!!!!
I have an undergrad, and a grad degree, work full time for the state at $29 per hour, and my husband works full time and we still can’t get out of this one bedroom apartment, which is $1650 per month. If I move to a 2 bedroom apartment, it’s $2600 per month. We barely make enough to afford the rent and the food and the bills. California is not an ideal place to live if you want to save money or buy a home.
@@tradconmom92yeah? I mean mine is called something like an amenities fee since I live in an apartment complex but I’m sure landlords who own houses in an HOA will make you pay that HOA fee
@@Yamommasbenis isn't one if the main rules in an HOA that you can't rent the house out? It has to be a primary residence in most HOAs? Or maybe that's just in my state.
@@deeitguy yeah, I looked it up and I guess there have been lawsuits against HOAs for trying to stop people from renting their own property, now owner have laws protecting them from their HOA so they can rent to people. Reguardless I'd never pay to live somewhere that had any right to tell me what to do with my property. That sounds insane
Im so glad i bought so much property when i did. In the 5 years before covid i bought everything i could, i just had a feeling. Mission accomplished Where's my rent?
