/ Offtopic somewhat
I know the feeling ... just over 40 ( so "technically" just outside the millennials group ) here and saved up some $$$ over the years by being cheap and working hard for it. And its still not possible to buy anything half descent without being forced into a bank loan.
The problem is that a lot of properties are owned by few. I know from my father how collogues of him did the trick of mortgaging their home, buying fix-uppers, renting those out to pay mortgage and repeat the trick. Now people like that own multiple homes and are not interested in selling. Renting is more profitable for them as they keep repeating the same trick ( and are considered good customers by the banks that get easily loans ). This results in more scarcity on the housing market.
When my parents build a house, they did so with a 20 year loan. These days, you can as a young person not buy a house without a 30 a 35 year loan and at minimum 50K down payment. It does not matter that the interests are low, when its a 35 year loan. When i was 20, it was already 27+ years for a half descent bank loan.
But its so fun to hear people in my age group or older talking how millennials and those beyond ( aka anybody younger then them ) are so spoiled and simply do not work as hard as they did. Not seeing how wages have stagnant and how even a 2 working family can barely afford a home.
A home + children? Even harder ( no big surprise that baby birth rates are dropping more as people decided to stay children less )
The property my parents sold 15 years ago at 165K is now a 250k property. The housing market is insane because there is so little available! I sure as hell did not see wages improve by 51% in that time frame! Its the same with building ground!
I know this has nothing to do with computers but it just seems like we millennials are getting the short end of the stick in almost every situation.
Yep! And it does not help that the older generation loves to sit on the money. Here is a nice example: My GM wanted to leave her house to me, my aunt talked her out of it.
After she passed, my mother and aunt took in over 350k from the house sale. Now you may say what has that to do with sitting on money?
Well ... Remember the 20 year bank loan. Those are paid off LONG ago ( 10 a 15 years before their pensions ). They all own houses near extreme good locations and major cities because in those times, there was plenty of ground before they, the baby boomers ended up buying every good spot.
So you have people who do not travel, do not spend money on much because they already have everything, have no bank loans, have no rents to pay, have very GOOD pensions ( and great social security, as its Europe ) but all they do is spew comments like: "Do not have children, work first. Work harder in life. Money, money.". And then they complain that we decided to not have children after their helpful comments and lacking financial support.
We millennials are just not as hard working as they are... I remember them coming home after work with very normal work hours. No emails, no after work tasks, no unpaid overtime, etc. Home, dinner, TV time. But we millennials are so spoiled with our gadgets that result in more work after work. The 24/7 availability for work and bosses.
Sorry for the rant but your comment got to me dealing with the same issues. Even looking for a property in a cheaper country in the EU, is still expensive. The only cheap locations are those that are so badly situated, that you can just as well change your job to farmer. And its such a competition between buyers, that its a sellers market. Your house really needs to have major issues to not sell or sell cheap.
Just tired of the mess and we will probably end up renting ( aka paying a boomer their properties off ). But hey, the owner of the apartment building where we live in just build another nice apartment building right in the garden. Because he has us paying for his original apartment building and that is down paid, so next building. Wealth creates wealth ... But for the rest of us, we are here just to keep feeding those boomers.
Morbid: And with modern medicine by the time our boomers die, we millenniums are in our 60 or 70's, burned out from stress, lots of us without children. Lot of good that 0 interest money does then. Pro future tip: Charities are going to do great business.
Maybe some families are different but from my experience and those around me like collogues, friends, the same stories about parents and their bad relationships with their children keeps showing up. Its like investing in their own "millennial" children is too much and "we whine too much" about how hard it is.
While we all need to work our asses off to pay for their very generous 55 year ( bridge ) to 62 year old pensions. When we can only access pensions at 67 age now and all those bridge pension deals got removed. Hey, what is another 5 to 13 years extra working.
If there is a generation that is spoiled Karen's, its not millennials. The millennials are going to be the generation that worked itself into the grave with massive late pensions, massive long 30 a 35 year loans, while supporting our baby boomer generation ...
But hey, we got tech gadgets for more after-hours work and avocados. :)
And yes, i am sure there are good parents that do help their children but boy do they seem like a treasure compared to the masses.