Comments by "donaldlyons17" (@donaldlyons17) on "Why Millennials u0026 Gen Z Are The Poorest Generations" video.

Yep but again the increase of cost without an increase in buying power is enough. I was able to live on $12 an hour better in 2009 than I can every live on $18 an hour now. So $4.00 an hour had more buying power then than now when compared to the dollar amount over the legal minimum in my area!!!
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If they want less physically hard jobs a specialist education in something else beside most trades is better. How many people in the trades don't get old and are too worn out to work past 70?
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No people going to school would not go to school if they wanted to just skip it for construction. They seem to want to skip construction all together.
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Boomers incomes and current incomes for similar jobs are likely similar. About 70% of the current working generation are making within 5K of the previous generations incomes when the younger ones have housing that cost almost 2X the amount.
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Well no I see new housing going up everywhere but those single family homes cost 400K or maybe just shy of that and so many can't afford it making 40K a year.
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@Stevesmusic444 You don't call that a lack of building more homes? If new homes are being built too slowly how is it an overpopulation issue?
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I don't think the tax is more important than the base prices for goods and services. For example tax tends to be percentage based so the more expensive the item the higher the final tax.
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Well how is $15 to $17 an hour that much more when in some places housing prices have doubled?!!!🙄
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No it is way more complex than that. I know because of all my siblings only one of us make equal to my parents current income(s). So even though houses cost almost double from 30 years ago peoples' incomes are not double? As a result housing should be more unaffordable at present.
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@gamewithadam7235 Well no 40K income means a house over 200K will not work..... The most I can afford in housing is around 1K per month for the rent. So no finding a house in that price range means 1 hour minimum from the better locations which then in turns means 15K to 30K cars because a old car with lots of parts to replace just will not work. The situation was often complex but truth is my parents made more than their parents did so I think the future generations need to make more than the previous generation(s) because prices will rise for basic goods. The way loans work is the same way they worked 30 to 40 years ago so no I can't just look for a house. Houses are not cars they don't go do just because they are old with too few new houses being built.
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@gamewithadam7235 Not sure that is a thing in my area. See some places have zoning restrictions and other laws about minimum size dwellings. Then there is the problem that renting a place per month in an ok neighborhood is at minimum about 1K per month per year. The rental situation is even worse in some places with housing cost more than that per month just to rent not even to own. I am sure there are ways but it will cost more in wear and tear cost because the cheapest places tend to have the least job opportunities close by.
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@dawnr6381 The phones only cost $1,500 new so the problem might be an income issue. Not sure 1K should make a huge difference if people are outpacing expenses but huge margins.
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Well but in the past dollars could buy more stuff..... So going without also might have been more temporary vs. now with both high prices and high income because buying power might really be less than before!!
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Well not going to work the same because there are few smaller homes being built as far as I can tell. All the newish houses are starting at 200K everywhere I have looked.
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I thought they were talking about median home prices then and now?
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@gamewithadam7235 The previous generation making 40k to 60K could afford a median house at multiple less than the current generation also making the median.... How much more fair a comparison do you want? Something is not affordable if the median price is higher than a median income can afford when in the past that was not the case.
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@gamewithadam7235 What you sure. My mom and dad both averaged 40K minimum over the last few years AND starting pay for many jobs that required advance education was in that range too. Today people in some jobs only make about 5K more for the same job title than they did 30 year ago. 31K is not plenty if people are looking to buy a house in the 200 to 300K range. And houses of similar size were going for about 100K 30 years ago and I know this because a dude came into my work and told me so.
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