As they’re living with their parents because they can’t afford an apartment of their own.
This is a serious point. I couldn’t afford a place until I was in a relationship. And that was a long time ago. I can’t imagine how difficult it would be with today’s rent.
For one city in Germany there was an article reporting that moving in together became the new marriage, because giving up your previous accommodation means to be stuck together in the same place for six months or longer after a breakup.
Having a roommate turned an apartment from unaffordable luxury to merely 25% of my paycheck.
I honestly think having roommates is fun, particularly if you’re old friends anyway. But its crazy that a spot at the ass end of town was eating so much of my take home pay even after we cut the bill in half.
Yup. Rent and then food right now.
Do we REALLY need to quiz people to know this? Ffs.
I assumed it was housing.
If we could afford housing, then that would be it.
https://www.economist.com/finance-and-economics/2024/04/16/generation-z-is-unprecedentedly-rich
Y’all are buying homes just fine compared to the last few generations.
Y’all
Rich = Full Time Employed?
You seem to mistake having a salary for having money.
America now has more than 6,000 Zoomer chief executives and 1,000 Zoomer politicians.
Also, what if you’re not a CEO or a politician? Also, plus, too, how on earth is “small town city councilman” or “part-time New Hampshire legislator” a sign of wealth?
I don’t get the point you’re trying to make with your graph. Obviously there wouldn’t be many Zoomers working full time; most are still in school.
Zoomers born after 2006 haven’t graduated high-school, and those born between 2002-2006 are in college. That’s leaves only a 5 year window of people you’d expect to be employed full time.
The line for millenials looks about the same as Zoomers.
The line for millenials looks about the same as Zoomers.
shrug
Take that up with the Economist, its their claim and their chart.
I’m trying to understand your argument against the article and what point you’re trying to make by using their chart.
That was one single indicator. I agree it’s not the best, to your point, unemployment, homeownership, and salary averages are the ones that show middle class wealth.
I don’t see any of that in the article. Is it hidden behind the paywall?
You just need an account for the first few articles.
The article doesn’t say that. It says that most arent spending above 43% on housing. It doesn’t dig into that, likely on purpose.
https://archive (dot) is/2024.05.08-164727/https://www.economist.com/finance-and-economics/2024/04/16/generation-z-is-unprecedentedly-rich
I mean, you’re not wrong there either.
People really love quizzes.
I’m food insecure and a hufflepuff! /s
Something tells me that /s should be removed.
I struggle with the addiction, and i’m a Slytherin. 😬
Don’t worry though we solved inflation. We just removed it from our calculations. If we don’t count it: it’s not there!
Investment funds stocking up on US farmland in safe-haven bet
Investment funds have become voracious buyers of U.S. farmland, amassing over a million acres as they seek a hedge against inflation and aim to benefit from the growing global demand for food, according to data reviewed by Reuters and interviews with fund executives.
The trend worries some U.S. lawmakers who fear corporate interest will make agricultural land unaffordable for the next generation of farmers. Those lawmakers are floating a bill in Congress that would impose restrictions on the industry’s purchases.
Though their acreage is a small slice of the nearly 900 million acres of U.S. farmland, the pace of acquisitions by investment firms like Manulife Investment Management and Nuveen has quickened since the 2008 global financial crisis drove firms to seek new investment vehicles, according to Reuters interviews with fund managers and an analysis of data from the National Council of Real Estate Investment Fiduciaries (NCREIF).
The number of properties owned by such firms increased 231% between 2008 and the second quarter of 2023, and the value of those holdings rose more than 800% to around $16.2 billion, according to NCREIF’s quarterly farmland index, which tracks the holdings of the seven largest firms in farmland investment.
Farmland offers steady returns even in periods of high inflation, and firms hope crop demand will remain steady as the United Nations predicts the world will need 60% more food by 2050 due to population growth.
You don’t want to confuse “inflation” with “economic growth”. One makes prices go up because the evil bad salaries are increasing. But the other makes profits go up because of the smart efficient business net revenues are increasing.
A prosperous nation needs big new investments in the future. And that means speculating in our domestic breadbasket, so we can maximize the price of inelastic commodities in an effort to optimize consumption habits. You don’t like waste, do you? Optimizing price reduces waste. Its all right here in the book Basic Economics by totally non-problematic and very smart guy Thomas Sowell.
Let me rephrase it.
54% of young Americans struggle to buy food.
Would help if they learned to cook.
Vast majority of my under 40 peers, do not cook. Almost everything they eat is prepared meals or meal substitutes.
We cook for a family of 4 and grocery prices have still basically doubled in our area. Doing a lot more beans and rice lately.
Look up Justin Wilson’s Louisiana cooking. They make beans and rice tasty AF
A lot of people don’t have the time nor the energy to cook these days. If you work long hours or have multiple jobs to make ends meet, things can and will fall to the wayside. It’s not always a matter of laziness like you’re implying.
The number of young people with no money, but constant deliveries from Ubereats, Deliveroo, etc, astounds me.
Like, my brother in Christ, you are sending most of your food budget to Silicon Valley billionaires. No generation has ever survived entirely on delivered takeaways.
hey rich people, ever heard the stories of what happens when the mass working class gets hungry?
In the US? I think they just die?
They eat cake? /s
I was a bit surprised rent wasn’t higher, but I wonder how many of the respondents haven’t moved and have rent control, so they aren’t affected by rent hikes.
Rent and health insurance definitely for me unfortunately
That’s why revolution starts with the bread
Yeah no shit
Man, I don’t know what I’d do without Aldi. Ironic that the best grocery chain in America is European, when the American Grocery Store used to be such a symbol of U.S. prosperity.
Shit’s bad in Canada, and our grocery store megacorps are taking us for all we’ve got. Five boneless skinless chicken breasts for $28 is insanity. Yet here we are.
I went to get chicken for some meal prep a couple of days ago (Missouri, US) and a 1lb container of just chicken breast tenders costs $13, I figured it was a “labor” cost for cutting the tenders off before the customer buys it, like how a container of diced onion costs an order of magnitude higher than just buying a whole onion, but nope, the pack of 2 breasts right next to it cost basically the same, maybe only 50 cents cheaper, and I wasn’t in anything expensive like a whole foods, just a generic lowcost midwest regional store. It’s absolutely ridiculous. Not to mention 2 orange or red bell peppers costs $5…
Is this Schnucks?
Price Chopper actually
Chicken tenderloins are $3.94/lb at Walmart in Central KY. Where were you shopping?
This was at a Price Chopper in western central MO
Rephrased: 54% of young Americans live with their parents or in large communal housing and still struggle to afford food.
Not really surprising.
yep. to anyone who is paying attention. and lives in a HCOL area.
but a lot of people aren’t/don’t.
This fucking god awful economy is literally built out of strains on millennials finances.
No need for bread lines if you can’t afford bread.
Sounds about right.
