@Badheart
I don’t blame anyone. I make more money than a good 2/3d’s the people here, and come from a family that started in a trailer, and now live in a 3 story house with a handmade bar in the basement.
We are a walking success story that has come with our share of suffering.
But you know what? The data doesn’t lie. Gen X and Gen Y both were saddled with nearly 14times the debt level above the boomers. Both suffered through two of the worst recessions in US history with the contraction of 1981 and the 2008 financial crisis. Gen X saw most of their savings and investments obliterated in the course of 3 years, only to be smacked down again in 06-08 when many of the 401k’s tanked in the crash.
Gen Y meanwhile inherited the worst economy since the Great Depression. With a job market so contracted that most people hitting their formative age couldn’t find employment. Instead, they were forced into higher education, with a rapidly rising tuition rate requiring them to take huge loans out that they can’t default on.
The housing crash and land price spike hit many X and Y during the time they should have been able to buy their first homes, forcing nearly 30-40% of them to be stuck in a buying limbo, of which many never recovered leading to a glut in house purchases which then deepened the housing crisis.
It was financially runionus for many, many families who honestly never fully recovered. With the econ only shaping back up to some semblance of normality in 2014-2018.
No other generations have ever had as much dept, as few jobs, and as few home buying options as Gen X and Y since the middle of the Great Depression, another time when an entire generation was lost to financial ruin. The Greatest Generation was then forced into the 3 Consecutive Meat-grinders that were WWII, Korea, and Vietnam. With a vast majority of them never gaining financial solvency. Their children, the Baby Boomers, did.
When one lives in a glass house, throwing stones will lead to disaster.
