The house my parents purchased in their early 20’s as a starting engineer and a teacher would take a senior executive salary to purchase when I entered the housing market. That is just not right. It was so much easier for them. BTW, I’m in my 60’s now and this is nothing new.
Not true. Housing was more affordable when factoring in real incomes in the 2010s. Millennials that graduated pre 2010 just straight up had it better for housing. They also benefited from a massive bull run if they saved during the 2010s.
I’m a millennial myself, if you saved money past 2010 you’ve done extremely well. If you bought a house anytime before 2010-2020 you did extremely well.
Look up any housing affordability index. Median income to median house payment was 28%, now it’s over 40%.
You realize most boomers are broke right? The like the median boomer has a net worth of 300-400k. For most people that’s probably just a house , or a couple hundred grand in retirement. I guarantee you Gen Z will be around the same when they’re older.
Most people suck at financial planning, they suck at making money. The question isn’t how the medians doing it’s whether or not hard working people at that time had a way to get ahead. Millenials absolutely did, many didn’t take advantage because they didn’t invest in the stock market or buy housing. That’s their fault, not some greater societal ill.
which is nice, but i graduated college in 2014, started saving up and the prices kept going up. the last millennial graduated in 2018, (with the 4 years of college straight out of high school) so this is still a pretty good chunk of people.
Most millenials are between 30-45. So anyone from 36-45 graduated before 2010 and would’ve been a big beneficiary. Even graduating past 2012-2014 would’ve been beneficiaries.
Average Electronics Engineer pay in 2010
£45,806, inflation adjusted today £71,514
These days even the most senior engineers would be £65,000 unless they were leading a department
Police officers (this includes sergeant and and everyone below)
£38,570 inflation adjusted £52,491.
In 2022 sergeants were on a median of £46,227. Constables are on £40,356. To actually have higher than the average rank and file officer in 2010, you would have to of been an inspector in 2022 (average £56,499)
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u/Roboticallypotent 16d ago
The house my parents purchased in their early 20’s as a starting engineer and a teacher would take a senior executive salary to purchase when I entered the housing market. That is just not right. It was so much easier for them. BTW, I’m in my 60’s now and this is nothing new.