via @kottke ... quick question, gen z: wtf
https://www.axios.com/2024/11/22/boomers-gen-z-millennials-financial-success
i'm choosing to believe this is dominated by the 13-year-olds
@maya @kottke so if you click through the study was only on legal adults (so 18+)
i think whats happening here is these are kids who are in college or just graduated with a large amount of college debt & who grew up being told that to be financially successful is to own your own house, have a decent car, etc. And they’re looking at how much they’d have to earn to pay off their loans and buy a house anytime soon and coming back with 600k which…yeah is still prob higher than it needs to be (esp if you live somewhere with a more moderate CoL) but not as insane as it initially looks?
@Satsuma I guess that I'm stuck on just HOW much higher it is than it needs to be, even from my perspective relatively inured to a HCOL area. like that's so, so, SO high.... there is very little ethical to do with that much money but retire quickly!!!!
@maya well, or support other people financially tho i would be a bit surprised if that was gen z’s reasoning
@maya @kottke my parents bought their current house in their mid thirties, after their second kid and had minimal educational debt to pay off. I’m lucky enough to also have minimal educational debt but I just straight up can’t afford to even rent in some of the neighborhoods my cousins grew up in bc of the way housing prices have skyrocketed locally. I think millennials responded by setting lower goals, and I think gen z prob will too if you give them ten years but also that seems kinda shitty and awful, idk