Comments by "" (@ericsaxon5736) on "A Historian Explains Being Gen-Z." video.

  1. I would have added the low interest rates as a major reason for lack of social mobility due to a lack ability to pick up and go somewhere else. Higher interest rates, mean that someone can buy a house and sell it for roughly the same amount, and move somewhere else, relatively easy, in search of better employment. When the interests are low, the house prices are high, trapping the individuals in $500,000 mortgage and since a person with a mortgage can't get out easily, he is unable to relocate for work. Essentially, you will pay the same mortgage whether your interest rate is 5% or 1%, the only difference is how much you owe on the house (principal,) high interest means you can save a few extra dollars and pay off your mortgage (principal) earlier, while a low interest rate traps you since the principal owed is usually astronomical. Low interest rates have turned Americans into serfs tied to the land, with little ability to leave a bad boss or an exploitative company, due to these Federal shenanigans.
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