How long do those people stay poor? What’s their age group?
Multiple jobs, as opposed to how people lived in the past, long back breaking hours, fighting off wild beasts.
Sharing with roommates is a non issue. That’s why we have a housing shortage in the first place even though we have plenty of housing space. People living alone getting places made for more then 1. Much more rent pay forces you to get a roommate in housing scarcity, it’s just supply and demand.
You must have lived behind a rock, or gotten all your information from youtube so far..
(Trolling a bit, stay calm rest of the thread will be friendly.
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How long do those people stay poor? What’s their age group?
Age group is hard to tell, but in most nations around the world people were kept at the income levels of the 1990s (if you adjust for inflation), that means that they did not participate in economic growth in any way since then.
See:
https://economia.icaew.com/opinion/january-2019/ending-austerity-give-everyone-a-pay-rise (Just first google result. It also states that till 2008 they still were growing - but that might be britain only? Look for better sources. (Some UN organization preferably))
Multiple jobs, as opposed to how people lived in the past, long back breaking hours, fighting off wild beasts.
Grow up to be an educated human being, would you? At least in europe your parents generation usually had one job, they held for life, and better social care systems to compliment it. You dont compare using the stone ages.
Sharing with roommates is a non issue. That’s why we have a housing shortage in the first place even though we have plenty of housing space. People living alone getting places made for more then 1.
While this has some logic to it, because in the past people lived in flats as families of ten, on less space - looking at you parents generation again - you are at a disadvantage.
Also - usually peoples attitudes change, when they get married and have children.
But just tell your room mate not to have an affair with your guy/gal every day - and it all will turn out fine living in the same space.
Just dont forget to do it after you've had your third child - those are the hard years..
Much more rent pay forces you to get a roommate in housing scarcity, it’s just supply and demand.
Thats entirely wrong - because the housing market was coopted for financial investment strategies. When the financial crisis hit, and interest rates on savings where fixed at 0% (with inflation thats negative, so normal people payed for the crisis), wealthier people went into real estate big time. Maybe less so in the US, where people either live in cardboard shacks (drywall), or skyscrapers (limited real estate) but in Europe this has become a massive problem. Our cities are old. The houses there are built well. People rent. "Owning and renting out living space" for 20 years is something with a fixed cost ceiling - and a crisis proof annual return. Because our cities are still growing, and there is no fixed price housing market, and stable annual return on investment is a rare commodiy - prices exploded. (Investors wanted higher returns.)
@how long: Millennials in most of the world are a "lost generation", economic growth is not supposed to get back up to the levels your parents enjoyed. With your incomes you can't save up to own property anymore - you basically will be milked until you are dead.
In the US the economic recovery after the crisis went a bit faster than in the rest of the world - so currently most millennials there are happy spenders of disposable income (they keep the economy afloat), but in terms of savings or investments they are living hand to mouth. And again, will do so until they are dead. The generation after them should enjoy some modest growth (that wont be eaten up by inflation and 0% interest rates) again - but not anywhere at the levels seen in the 1980s.