Gen Z Can’t Afford the Rent

[Cakebatter]

I as a Gen X'er can not honestly hold Gen Z'ers to the same standard that I hold my cohort to. The rules and expectation have changed drastically. I've posted this story before, but I think its appropriate here:

My Step father was born in the mid 1930s. He grew up poor in the south. He dropped out of school after 3rd grade to work and help support his family. He never went back to school, yet grew up moved up north, got a job at a factory to own a house, a boat, and numerous cars. My biological father graduated high school, but he too had a similar outcome to by stepfather who didn't. Here is the difference in requirements for success from his generation (Silent Gen) up to Gen Z

Silent Gen: All you had to do was work hard
Baby Boomers: All you had to do was get a diploma and work hard
Gen X: All you had to do was get a College degree and work hard
Millennials: All you had to do was get a College degree in the right major, and work hard
Gen Z: All you have to do is get a college degree in the right major and work hard, but that scope of what is the right degree is far more narrow

The whole "Right Degree" shyt is ridiculous given how what's hot this year won't be in 5 years. My Brother (Boomer) gradated in 1985 with a Computer Science degree and it was worthless back then. Had he graduated with that degree in 1990, his career would be drastically different. Younger Gen X'ers with electrical engineering degrees had to switch lanes or get left in the dust. Gen Z'ers graduating with Physical Therapy doctorates are realizing the aren't getting what was promised 5 years prior.

 

[Apprentice]

I as a Gen X'er can not honestly hold Gen Z'ers to the same standard that I hold my cohort to. The rules and expectation have changed drastically. I've posted this story before, but I think its appropriate here:

My Step father was born in the mid 1930s. He grew up poor in the south. He dropped out of school after 3rd grade to work and help support his family. He never went back to school, yet grew up moved up north, got a job at a factory to own a house, a boat, and numerous cars. My biological father graduated high school, but he too had a similar outcome to by stepfather who didn't. Here is the difference in requirements for success from his generation (Silent Gen) up to Gen Z

Silent Gen: All you had to do was work hard
Baby Boomers: All you had to do was get a diploma and work hard
Gen X: All you had to do was get a College degree and work hard
Millennials: All you had to do was get a College degree in the right major, and work hard
Gen Z: All you have to do is get a college degree in the right major and work hard, but that scope of what is the right degree is far more narrow

The whole "Right Degree" shyt is ridiculous given how what's hot this year won't be in 5 years. My Brother (Boomer) gradated in 1985 with a Computer Science degree and it was worthless back then. Had he graduated with that degree in 1990, his career would be drastically different. Younger Gen X'ers with electrical engineering degrees had to switch lanes or get left in the dust. Gen Z'ers graduating with Physical Therapy doctorates are realizing the aren't getting what was promised 5 years prior.

I feel this, and this is why I don’t think anyone should go to college unless they are absolute about what they are looking to do career wise

Lots of folks can’t afford a crib rn thrown in wit student loans, car payments etc etc

The doctors, lawyers and engineers will always be fine, it’s everyone else who gets caught in the waves

 

[Json]

30% rule hasn't been realistic since the late 2000's. I think 40-45% will be the new normal, landlords are going to have to loosen their requirements or units will stay empty.

I feel for Gen-Z because they are stuck like millennials were 15 years ago. Its either stay at home and stack mediocre money, go to University and take on debt which is more damaging than ever, or go into the military for an indefinite period of time.

I worked two jobs for 2.5 years to buy my home with 20% down as prices were going up. Now with prices and interest rates way up someone can work 2 jobs pulling 60-70k combined and probably need to work 3-4 years straight saving (while also living at home) to qualify at that income with 20% down for the average home in major southeast cities.

However I have little sympathy for the millennials in their late 30's who wasted 15-20 years renting and now complaining about how expensive everything is. You had your chance unless you live somewhere extremely expensive like NYC/LA. I know one Charlotte Youtuber in particular whose around 40, used to be talking that "I do better off renting from this company because I don't have to fix anything, renting is cheaper than buying" now looking stupid and complaining about the cost of living, talking that "I'mma live in a shed in the country near the water homestead" crap I see alot of Gen-Z/Millennials do even though they wouldn't make it 90 days living like that.

I saw the writing on the wall years ago, I don't know why they didn't. The secret that Real Estate is the key to wealth got out a few years ago once these corporations started getting in. Then you have people wholesaling, pension funds buying into all of these build-to-rent communities.

Whats also crazy is you have vocal people who say governments should do something about it, however homeowners and companies are way more invested in keeping zoning in their favor. Like I said in another thread, alot of liberals on Reddit turn up online but you'll never see them stay consistent showing up to City Council meetings - they barely watch the City Council livestreams spoonfeeding them whats going on.

You’re missing the forest for the trees.

it’s not the price that’s the problem. 4-5 percent isn’t that high historically

Most of these houses being built people don’t need. Most people don’t live in the same city as long as they used to. What’s the point of a 30 year mortgage? If people are having fewer kids, why are houses getting bigger? So we can have a spare bedroom or home office? The size of housed most Americans need arent being built anymore, not because we can’t, but because builders and realtors make more money selling on a dream we don’t need.


So you have people stressing to fit these ideals they don’t want to be a homeowner.

 

[Mister Terrific]

I planned on moving into a house with the wife.

She passed 3 years ago.

I have NO reason to buy a house.

You can take your foot out of your mouth.​

Sorry for your loss but respectfully you sound like every miserable boomer I’ve ever come across. Nothing about your life or financial situation sounds overly appealing to a generation on IG. Nobody has a dream to make 16.25 an hour living in an apartment alone ranting about trannies on the coli. If you want youngins to take your message seriously do better than being ignorant of economic realities


EDIT: edited out the insult, that’s not cool over a disagreement.

 

[africngiant]

thread turned into some weird conservative nonsense

the weekly excessive pile on gen z for reasons outside of what’s actually written in the article

what does the summary of the article being that the cost of living is going up have to do with “gen z are weirdos” and insert xyz

this thread is flabby asl

 

[DTXwavey_02]

Sorry, all that sounds like excuses.

If one job doesn't pay enough, get another that will, or, get a side-hustle.

That entire paragraph is nothing more than....

The 'realities' haven't changed, but Gen-Z thinks they should be treated different and are more concerned with what bathrooms they can/can't use.​

We shouldn’t have to work another job just to survive old ass nikka

 

[DTXwavey_02]

nikkas joking on our generation don’t realize how fukked everything is for us. nikkas was paying 500 dollars a month for rent back in the day and calling us lazy 20 an hour an shyt if you got your own spot

You need to have a roommate just to barely stay afloat if you want to live on your own. Or live with your mom till your fukking 30 at this rate

 

[Dafunkdoc_Unlimited]

Sorry for your loss but respectfully you sound like every miserable boomer I’ve ever come across. Nothing about your life or financial situation sounds overly appealing. Nobody has a dream to make 16.25 an hour living in an apartment alone ranting about trannies on the coli. If you want youngins to take your message seriously do better than being an old dusty low iq moron.

I don't make $16.25/hr.

I'm not miserable.

I don't rant about trannies.

My finances are fine since I can get a house through the VA and am debt-free.

You can stop trying to 'stunt'. It ain't working......and neither is Gen-Z​

 

[Cakebatter]

I feel this, and this is why I don’t think anyone should go to college unless they are absolute about what they are looking to do career wise

Lots of folks can’t afford a crib rn thrown in wit student loans, car payments etc etc

The doctors, lawyers and engineers will always be fine, it’s everyone else who gets caught in the waves

I hear you, but we have to acknowledge the ever shrinking number of viable career paths. Very few exist without a degree, and now many of the degrees lack a solid career path. "Learn a Trade" is just "Learn to Code 2.0".

 

[Dafunkdoc_Unlimited]

We shouldn’t have to work another job just to survive old ass nikka

Further showing that your generation CAN'T EVEN READ.......

No wonder y'all broke.​

 

[Rekkapryde]

This is in every industry and been going on for over 20 years.

truck drivers, teachers, vets, morticians, repairmen,


I don’t know what’s going on.

Wait till all of those jobs have high demand due to them becoming scarce with supply forcing the salaries to go up even higher.

You gonna be able to take these Gen Z'ers to the cleaners since they don't wanna do these jobs.


Older Millennials and Xers about to

 

[DTXwavey_02]

Further showing that your generation CAN'T EVEN READ.......

No wonder y'all broke.​

At least I ain’t an ignorant old bitter fakkitworking my ass off at this job and college but unless something drastic happens, I probably can’t even enjoy the money I’ll make from my career once I graduate smh.

Flabby ass nikka one foot from the grave so I understand why you mad old breh

 

[Wild self]

its true fam

i be giving dudes actual financial models and investment memos i've built...telling them to use them s guides and to come at me with their ideas so that if i intro them to people in my firm they can show their skills. unfortunately nobody's done it

i used to sit in my bed room in hot ass summer days without AC teaching myself how to do financial models, research stocks, and shyt; it led me to where i'm at today

these young bucks just aint hungry enough and entitled a lot of the time

Bootstraps ain't gonna prevent America into becoming a 3rd world Banana Republic. Its numerically impossible.

 

[Wild self]

@Kyle C. Barker @Rhakim @ignorethis

This is what TLR been reduced to: victim blaming and poor shaming.

 

[Deafheaven]

I'm so confused why is there so much hatred for the youth? Numbers have been provided that show things are rough out here and yet the Coli being out of touch and miserable as always is have a bootstraps jamboree in here. terrible.