62% of millennials say they’re living paycheck to paycheck

[Hypertrophy]

Dear God.

If that isn't the fucking missing link, then I don't know what could possibly be.

lol Vince isn’t exactly the poster boy for being fit either.

[Irongrip400]

Actually it is baby boomers and some Gen Xers who are too lazy to realize that housing costs have skyrocketed in the past two decades and wages have remained stagnant! Go try renting an apartment in major metro areas with a job a 20 year can have.

Then they should move to the suburbs where it’s more affordable. You can’t always get everything you want.

[BBSSchlemiel]

Then they should move to the suburbs where it’s more affordable. You can’t always get everything you want.

Haha! I live in a suburb in which the average home costs $525k. My mother’s apartment costs $333k. Things have gone up all over.

[Humble Narcissist]

Haha! I live in a suburb in which the average home costs $525k. My mother’s apartment costs $333k. Things have gone up all over.

Small towns and rural areas are the only cheap (and safe) places now.

[Bevo]

Visit me & eat tons of avocados 4 free 

G4P??

[bigkid]

Actually it is baby boomers and some Gen Xers who are too lazy to realize that housing costs have skyrocketed in the past two decades and wages have remained stagnant! Go try renting an apartment in major metro areas with a job a 20 year can have.

There's plenty of people doing it.  5 of my best guy friends moved to NYC after college.  They all lived in the city, had roommates, made it work like anyone who really wants to make it works does.  Wages have been stagnant for 20 years?  That's not true at all.  This seems to be the new lie being passed around.

[deadz]

There's plenty of people doing it.  5 of my best guy friends moved to NYC after college.  They all lived in the city, had roommates, made it work like anyone who really wants to make it works does.  Wages have been stagnant for 20 years?  That's not true at all.  This seems to be the new lie being passed around.

Wages..just depends..but employers are not kind after the Recession.

[TheGrinch]

Wages have been stagnant for 20 years?  That's not true at all.

Might want to check Federal DOL and BLS statistics before making such a false claim




100% certainty wage growth of the labor force is non-existent when compared to GDP, inflation, and cost of living


https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/

https://hbr.org/2017/10/why-wages-arent-growing-in-america

[BBSSchlemiel]

Might want to check Federal DOL and BLS statistics before making such a false claim




100% certainty wage growth of the labor force is non-existent when compared to GDP, inflation, and cost of living


https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/

https://hbr.org/2017/10/why-wages-arent-growing-in-america

This right here.

The strongman, libertarian, “work hard” narrative runs deep on GB.

Oh, who raised us millennials? Gee. I wonder who.

I’m a millennial, have a wife, kids. I have some debt but I’m alright. I don’t turn a blind eye though.

[bigkid]

Might want to check Federal DOL and BLS statistics before making such a false claim




100% certainty wage growth of the labor force is non-existent when compared to GDP, inflation, and cost of living


https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/

https://hbr.org/2017/10/why-wages-arent-growing-in-america

Whoa whoa whoa.  You're completely changing the argument. His original argument was that housing prices have skyrocketed and wages have remained stagnant in major metro areas the last 20 years.  That's not true at all.  You're changing the argument to "purchasing power"  that was never his contention.   Housing prices have gone up and wages have gone up.  I used NYC as an example.  The median income of a family in NYC has risen roughly (within a few percentage points) as the average apartment rental cost across the city.  They're are small examples like areas in silicon valley or other anomalies like that, but overall wages have kept up with housing, especially considering we live in the most mobile society in the history of the planet.  There's all sorts of propaganda being poured out there, with specially chosen years and areas to try and make a bigger issue of a largely inconsequential problem. Again, skewed data being used by the globalist media to try to create problems that don't exist, and to espouse the solution of more government intervention and regulation.  Which is never the right strategy. 

[Henda]

Just actually looked up the age of millennials didn’t realise it was actually people my age was thinking it was those born later, I didn’t think we were as bad as that money wise just based off the people I know (other than the lad I work with) but obviously can only make assumptions based on how they live and don’t know for sure if they live pay to pay but don’t appear too 

[TheGrinch]

Whoa whoa whoa.  You're completely changing the argument. His original argument was that housing prices have skyrocketed and wages have remained stagnant in major metro areas the last 20 years.  That's not true at all.  You're changing the argument to "purchasing power"  that was never his contention.   Housing prices have gone up and wages have gone up.  I used NYC as an example.  The median income of a family in NYC has risen roughly (within a few percentage points) as the average apartment rental cost across the city.  They're are small examples like areas in silicon valley or other anomalies like that, but overall wages have kept up with housing, especially considering we live in the most mobile society in the history of the planet.  There's all sorts of propaganda being poured out there, with specially chosen years and areas to try and make a bigger issue of a largely inconsequential problem. Again, skewed data being used by the globalist media to try to create problems that don't exist, and to espouse the solution of more government intervention and regulation.  Which is never the right strategy.  

um... okay

First off wages have remained stagnant in terms of inflation. So if the cost of anything else goes up housing, food, clothes, transportation...etc... purchasing power has a net decrease. As such wages would therefore NOT be keeping up with rents/housing

Is a home or rental the same price as 1978???

Because wages sure are...


https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/

"After adjusting for inflation, however, today’s average hourly wage has just about the same purchasing power it did in 1978, following a long slide in the 1980s and early 1990s and bumpy, inconsistent growth since then. In fact, in real terms average hourly earnings peaked more than 45 years ago: The $4.03-an-hour rate recorded in January 1973 had the same purchasing power that $23.68 would today."








Wages vs Rents




Home prices are rising faster than American wages

Real estate economist: Home prices are increasing twice as fast as income growth

https://www.msn.com/en-us/money/realestate/home-prices-are-rising-faster-than-american-wages/ar-BBP6kqh
https://www.cnbc.com/2018/03/13/economist-home-prices-are-increasing-twice-as-fast-as-income-growth.html


And they are referring to NOMINAL wages... not inflation adjusted which haven't budged.




HOWEVER the rich are getting richer (MORE purchasing power) while the middle class gets h-o-s-e-d









Someone tell me again how everything is just fine and dandy?

[BBSSchlemiel]

um... okay

First off wages have remained stagnant in terms of inflation. So if the cost of anything else goes up housing, food, clothes, transportation...etc... purchasing power has a net decrease. As such wages would therefore NOT be keeping up with rents/housing

Is a home or rental the same price as 1978???

Because wages sure are...


https://www.pewresearch.org/fact-tank/2018/08/07/for-most-us-workers-real-wages-have-barely-budged-for-decades/

"After adjusting for inflation, however, today’s average hourly wage has just about the same purchasing power it did in 1978, following a long slide in the 1980s and early 1990s and bumpy, inconsistent growth since then. In fact, in real terms average hourly earnings peaked more than 45 years ago: The $4.03-an-hour rate recorded in January 1973 had the same purchasing power that $23.68 would today."








Wages vs Rents




Home prices are rising faster than American wages

Real estate economist: Home prices are increasing twice as fast as income growth

https://www.msn.com/en-us/money/realestate/home-prices-are-rising-faster-than-american-wages/ar-BBP6kqh
https://www.cnbc.com/2018/03/13/economist-home-prices-are-increasing-twice-as-fast-as-income-growth.html


And they are referring to NOMINAL wages... not inflation adjusted which haven't budged.




HOWEVER the rich are getting richer (MORE purchasing power) while the middle class gets h-o-s-e-d









Someone tell me again how everything is just fine and dandy?

I’m unsure how he didn’t get this.

[Hulkotron]

Lots of charts in this thread

[SF1900]

Lots of charts in this thread

Getbiggers only discuss high-end, sophisticated charts.

[Soul Crusher]

to comments.

Confirmed: Millennial men live with their parents more than other generations
Yahoo ^ | May 17, 2019 | Aarthi Swaminathan
Posted on 5/18/2019, 6:53:35 PM by GuavaCheesePuff

More millennial men are choosing to live with their parents compared to previous generations, according to an analysis by J.P. Morgan.

Using Census microdata, the bank’s researchers found that the millennial generation — which is “far from monolithic” and is broken down into early, middle and late stages — has been “reaching lifecycle milestones later in life than prior generations,” and in particular, has been moving into their own households at a “slower pace than their predecessors.”

The difference in behavior compared to Baby Boomers and Gen Xers is most pronounced with middle millennial men (born between 1986 and 1990) and is deepened with late millennials (born 1991 to 1995).

(Excerpt) Read more at yahoo.com ...

TOPICS:

[el numero uno]

I showed her this picture. In the picture, Vince looks serious, yet playful.

When Vince was born, the Dr told the nurse, "throw him out of the window, if it flies it's a bat."

[tres_taco_combo]

I work with money every day in my profession and my referral partners also work in the money world too. I am proud of myself; I had an amazing speaking engagement in front of several BK attorneys 2 weeks ago about using equity as part of retirement planning and new benefits of the HECM  


remember Money is a tool - it can make you a better or worse person

most who have financial difficulties - it is due to poor choices/low will power.

today's society it is common to live paycheck to paycheck, why so many americans do it. "just the way it is"
 
access to credit is easier than ever - credit is dangerous leverage - be careful

it is key to have a good relationship with money -

good luck
Tres-

[Zero2Hero]

33 here, so a millenial I guess. Living alone in my own place (part mortgage, but a small monthly payment, no big deal at all. Lived at my parents or ex gfs places homes for quite a while, saved and got my own place later on. Bastard eh). Honestly, I have a very, very good life currently, BUT I realize that with a family I'd have to work a lot harder to sustain this lifestyle. Rent prices are high, do not make fun of these people who stay at their parents home, if they are saving - that may be one of the best decisions currently. It's difficult to compare different generations as enviromental factors are NOT the same, at all.

[deadz]

Thanks for the concise and honest reply.
Never having ahd my own children, I can only imagine what it must be like.

I'd estimate it's a lot of long tedious work truncated by moments of great joy or serious stress.

I'll also say that if everyone was like me humannity would quickly die off.

Thanks for not having children, some people should not have them.

[SF1900]

33 here, so a millenial I guess. Living alone in my own place (part mortgage, but a small monthly payment, no big deal at all. Lived at my parents or ex gfs places homes for quite a while, saved and got my own place later on. Bastard eh). Honestly, I have a very, very good life currently, BUT I realize that with a family I'd have to work a lot harder to sustain this lifestyle. Rent prices are high, do not make fun of these people who stay at their parents home, if they are saving - that may be one of the best decisions currently. It's difficult to compare different generations as enviromental factors are NOT the same, at all.

Rollin’ like a getbigger!

[deadz]

I agree and  my mom should have done the same.

So you wish you were never born, says a lot.

[WoogsRaven]

Thanks for not having children, some people should not have them.

That's why I always have sex above the shoulders. 45 and no kids. Always irritates me when people give me a sideways look when I tell people in my age range that I don't have kids. It's a choice, not a birth right.

[Humble Narcissist]

That's why I always have sex above the shoulders. 45 and no kids. Always irritates me when people give me a sideways look when I tell people in my age range that I don't have kids. It's a choice, not a birth right.

It's like people think you have failed for not reproducing but then they are the ones complaining about the cost of raising kids and all the other problems with kids.

[WoogsRaven]

It's like people think you have failed for not reproducing but then they are the ones complaining about the cost of raising kids and all the other problems with kids.

Exactly. I guess I'm wired different than most when it comes to not wanting kids. In my opinion, it raises my stock in the dating/hookup world. I'm used to hooking up with single moms who appreciate not having to work around my kid's schedule.