Good information. Too much tattooing and piercing and not enough going back to their birth hair color, and sex and start acting xx or xy. There are no, and have never been any in betweens. I wrote a Substack yesterday about DEI - Disenfranchised, Endrogynous, and Inept editors mispelling on purpose.
Thank you so much writing this piece, and in so doing for turning me on to Egon von Greyerz. His CATCH THE GOLDWAGON OR LOSE YOUR FORTUNE is a fascinating article!
Sure, the current young people were lied to and taken advantage of. If I go into a casino and gamble away all my money, it isn't fair for me to point at the casino and say it was all their fault. My actions played a role as well.
If you take on debt to leverage a successful personal lifestyle and the gamble that you take doesn't work out it is time for some deep introspection.
I am sympathetic to them, though, because I was one of them. I paid enough just in stupid car purchases to pay cash for a house at today's inflated prices. I came close to that with the interest I paid on my student loans. On top of those, I came close to that house price with what I paid in interest on credit cards when I bought whatever I wanted because "I deserved it."
I spent years working at a relatively low paying job where I was miserable outside my chosen field digging myself out of the hole I dug for myself.
You have to decipher the complaints that they make because there is a lot of half truth involved. When they say that they can't afford to buy a home, the actual translation is that they can't afford to buy the kind of house that they want, in the location that they want, with the income provided by the job that they chose to pursue, without making the sacrifices that it takes.
^This!^ Nicely said @DavidKirtley. We were all one of them out of college. And sacrifice is the operative word in your comment, hence, I don't have sympathy. I skipped the lattes, the avocado toast, the latest $1000 mobile phone, the frivolous travel to far off destinations for likes on my social media, the latest fashion trends, fancy restaurants, the Restoration Hardware sofa and all the other money grabs that are out there waiting to take advantage of those without a modicum of money savvy. There are plenty of really good thrift stores, especially say, in New York City (check out Housing Works, Ms. Melchor) where the well-to-do donate their Tiffany, Gucci and Natuzzi and where, with some careful sleuthing, you too can surround yourself with nice things for pennies on the dollar. Nothing more satisfying than a cab ride home with an incredible score, with plenty left over to pay student loans and even save a bit for a down payment. Can't afford Manhattan? Move to Memphis. Or Little Rock. Or Flint. Or Macon. Or Raleigh. Our birthright as Americans -- at least for now -- is the ability to move freely in pursuit of opportunity. So the question then becomes: what are these whiners waiting for? Get moving!
I agree with you, if you can't afford to live there try it somewhere else. Why they are not moving - in era of social media everyone is top star and to move would mean to lose status. They will stick to this hipster and main places no matter the price or cost, for them it's whole life just status signalling and they are not going to give it up.
Good information. Too much tattooing and piercing and not enough going back to their birth hair color, and sex and start acting xx or xy. There are no, and have never been any in betweens. I wrote a Substack yesterday about DEI - Disenfranchised, Endrogynous, and Inept editors mispelling on purpose.
Thank you so much writing this piece, and in so doing for turning me on to Egon von Greyerz. His CATCH THE GOLDWAGON OR LOSE YOUR FORTUNE is a fascinating article!
Sure, the current young people were lied to and taken advantage of. If I go into a casino and gamble away all my money, it isn't fair for me to point at the casino and say it was all their fault. My actions played a role as well.
If you take on debt to leverage a successful personal lifestyle and the gamble that you take doesn't work out it is time for some deep introspection.
I am sympathetic to them, though, because I was one of them. I paid enough just in stupid car purchases to pay cash for a house at today's inflated prices. I came close to that with the interest I paid on my student loans. On top of those, I came close to that house price with what I paid in interest on credit cards when I bought whatever I wanted because "I deserved it."
I spent years working at a relatively low paying job where I was miserable outside my chosen field digging myself out of the hole I dug for myself.
You have to decipher the complaints that they make because there is a lot of half truth involved. When they say that they can't afford to buy a home, the actual translation is that they can't afford to buy the kind of house that they want, in the location that they want, with the income provided by the job that they chose to pursue, without making the sacrifices that it takes.
^This!^ Nicely said @DavidKirtley. We were all one of them out of college. And sacrifice is the operative word in your comment, hence, I don't have sympathy. I skipped the lattes, the avocado toast, the latest $1000 mobile phone, the frivolous travel to far off destinations for likes on my social media, the latest fashion trends, fancy restaurants, the Restoration Hardware sofa and all the other money grabs that are out there waiting to take advantage of those without a modicum of money savvy. There are plenty of really good thrift stores, especially say, in New York City (check out Housing Works, Ms. Melchor) where the well-to-do donate their Tiffany, Gucci and Natuzzi and where, with some careful sleuthing, you too can surround yourself with nice things for pennies on the dollar. Nothing more satisfying than a cab ride home with an incredible score, with plenty left over to pay student loans and even save a bit for a down payment. Can't afford Manhattan? Move to Memphis. Or Little Rock. Or Flint. Or Macon. Or Raleigh. Our birthright as Americans -- at least for now -- is the ability to move freely in pursuit of opportunity. So the question then becomes: what are these whiners waiting for? Get moving!
I agree with you, if you can't afford to live there try it somewhere else. Why they are not moving - in era of social media everyone is top star and to move would mean to lose status. They will stick to this hipster and main places no matter the price or cost, for them it's whole life just status signalling and they are not going to give it up.