We compared the finances of 30-year-olds now, to 30-year-olds 30 years ago

Comments

• trk@aussie.zone ⁨6⁩ ⁨months⁩ ago

  "I’ve been saving for a house for about five years. And I’m further away than when I started,” he sighs.

  Literally how we felt, and that was quite a few years back. Can’t imagine how it feels these days.

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• WhatAmLemmy@lemmy.world ⁨6⁩ ⁨months⁩ ago

  When it comes to those in their 30s, Grattan Institute data shows that in 2016, 30-year-olds contributed twice as much to support older Australians’ living standards than Boomers did at 30. And that’s adjusted for inflation. … The data projections expect 30-year-olds in 2041 to be paying nearly four times more.

  Solid data behind the ladder pulling younger generations have been calling out since before the whole “avocado toast” boomer entitlement.

  this generation has contributed more to support older generations … in part, because more well-off, older Australians are paying less tax.

  I guarantee boomers and Gen-X won’t support a rebalancing, especially the type of rebalancing required — where housing being treated as an investment vehicle needs to cease via a dozen extreme regulations, like banning ownership beyond a single investment property, banning of all corporate ownership including SMSF’s, banning of non-resident ownership, extreme taxes for empty property (and most penalties beyond a sensible grace period including outright forfeiture of the entire asset).

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  • xantoxis@lemmy.world ⁨6⁩ ⁨months⁩ ago

    [deleted]

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    • radiohead37@lemmy.world ⁨6⁩ ⁨months⁩ ago

      I never understood why people care so much about their property values. I personally think it makes me worse off when my house goes up in value. Now I have to pay more in property taxes and I can’t move because all other houses are way more expensive too.

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• viking@infosec.pub ⁨6⁩ ⁨months⁩ ago

  “I would love to have a child, but I don’t think I could do it as one person with the costs of childcare and everything … "

  Um, did someone forgot to factor the co-parent in, or is voluntary single parenting en vogue?

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  • stembolts@programming.dev ⁨6⁩ ⁨months⁩ ago

    You read her words, they are clear. Take them at face value. The confusion is coming from your own perception of the situation, so change your perception, perhaps to what she said?

    When I read it, I thought, “Ah, she’s planning for worst case scenario. Smart.” Especially in her generation. They are used to thinking like that because they’ve been fucked at every point in their life.

    Seems like something is wrong with the world when this is the new reality for every generation to come. I remember the joke about capitalism, “You will own nothing, and be happy,” but it’s less funny when you see it happening to everyone.

    At this point we’ve circled back to feudalism, there are a few lords, they control the government as well as production of everything. They are accountable to no one, they own all the land, due to their seizures od the government they can force the government to sell them government land for oil drilling, pipelines, etc.

    We’re in the techno-middle-ages.

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    • Ilandar@aussie.zone ⁨6⁩ ⁨months⁩ ago

      Varoufakis is that you?

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  • BakerBagel@midwest.social ⁨6⁩ ⁨months⁩ ago

    Marriage and long term relationship rates have alao been plummeting along side every other “milestone” indicator. Obviously women have a much easier time becoming a single parent than men do, but single parents exist.

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    • viking@infosec.pub ⁨6⁩ ⁨months⁩ ago

      I’m aware they exist, but the way it was phrased made it sound like that’s the plan all along.

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    • Ilandar@aussie.zone ⁨6⁩ ⁨months⁩ ago

      Why are long-term relationship rates decreasing? Is this another effect of mentally ill Gen Z coming into adulthood?

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    • DancingBear@midwest.social ⁨6⁩ ⁨months⁩ ago

      I mean, for every female single parent there is a male single parent so your logic does not follow

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  • Aussiemandeus@aussie.zone ⁨6⁩ ⁨months⁩ ago

    Did you read the rest?

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    • viking@infosec.pub ⁨6⁩ ⁨months⁩ ago

      Yep. I agree with the other stuff, but that part caught my attention.

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  • exocrinous@startrek.website ⁨6⁩ ⁨months⁩ ago

    Fuck compulsory allosexuality.

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• z00s@lemmy.world ⁨6⁩ ⁨months⁩ ago

  I’ve been saying all this shit for years. Fuck John Howard and fuck greedy boomers.

  Housing is a human right.

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• Aussiemandeus@aussie.zone ⁨6⁩ ⁨months⁩ ago

  So I just read this, having just turned 30 in February and my wife turning 30 in 3 weeks time; it is super depressing.

  We’re not even doing that badly we think, we are paying off two houses live in one rent the other. I’m a qualified tradesmen for the last 9 years my wife is about to finish her apprenticeship after 4 years.

  We’re struggling, we’re not drowning I guess but fuck me we both work flat out 50 plus hours a week each and have no idea how we’re going to have children, pay for them especially while one of us stays home to look after them.

  Obviously we’re doing better then a lot but people should be able to have one home on a single wage and support a family.

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  • Black_Char@kbin.social ⁨6⁩ ⁨months⁩ ago

    Man I have issues with this. Your intentions are right and think you're in the right mind set with trying to sympathize with people, but you own TWO homes and complaining about not having cash. Sell one, don't be a landlord and start investing your money into one property. It's silly to me that you are two people earning money, with two homes financed, one if which is generating extra income, and are talking like you're single struggling to even find a place to live when everywhere is priced out, all because theres people with multiple houses trying to make a living off of the backs of others. I guarantee someone would love to own a first home let alone a second. Sell your second house start living within your means.

    Of course I don't know you, you could be renting it out to a group of homeless aids riddled children, but something tells me that's not the case. There is something that doesn't add up with your situation in why your struggling so much and you should re check your finances and spending habits.

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    • Aussiemandeus@aussie.zone ⁨6⁩ ⁨months⁩ ago

      We own two houses because we bought a house each before we were ever together to live in.

      The house we have rented out doesn’t even cover the mortgage costs of the house. The problem is if it were sold today it’s a 100k loss.

      I’m not saying we’re on full on struggle street but two incomes should be heaps, instead it pays for just enough for a regular life.

      We should be in a way better position.

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    • ComradeBunnie@aussie.zone ⁨6⁩ ⁨months⁩ ago

      Yeah, I’m sorry, I had to stop reading when I read that they own not just one but TWO homes. I saw red.

      Meanwhile, I’m relatively terrified that my retirement will be living in a cardboard box under a bridge after suffering from multiple strokes based on family history.

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  • DavidDoesLemmy@aussie.zone ⁨6⁩ ⁨months⁩ ago

    Yeah we’re similar. We’re 29/28, we own our house outright, and have 9 investment properties. But with interest rates what they are and the Mrs switching to part time work, we don’t know how we’re going to afford to buy our 10th investment property. We might have to compromise and make it an apartment 😭

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• bitchkat@lemmy.world ⁨6⁩ ⁨months⁩ ago

  I totally hit the 30 year olds 30 years ago and my son is in the same age range now. He can’t afford to live on his own and I figured that if I was going to help him, I’d rather buy a condo for him to live in. I plan on putting it in his name when its paid off. Then I know he’ll have stable housing after I die. HOA + property taxes + utilities are way cheaper than rent.

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