Generation Y and Debt

[Glacier]

http://www.trishwise.com/kelowna-market-jan-apr12.html Average house prices

http://www.city-data.com/canada/Kelowna ... ncome.html Average wages.

The average house is around $415,000. Median income is around $25,000, before tax.

Median income is a useless term because it includes all the students,retirees, and self-employed in the calculation. Anyone working for $1.75 over minimum wage can easily make $25,000/year. It's disingenuous to compare individual median income today with family income from the past.

[UnknownResident]

Median income is a useless term because it includes all the students,retirees, and self-employed in the calculation. Anyone working for $1.75 over minimum wage can easily make $25,000/year. It's disingenuous to compare individual median income today with family income from the past.

Fine. Say the average income is $50,000 (which it's not but for arguments sake...) that means a family with two working people are bring in $100,000 pre tax dollars. Owning on average a $415,000 house. It is still undebatable that in 1975 it was much easier owning a home because the average income was a lot closer to the price of an average home.

I don't expect anything on a silver platter, but all the holier than thou baby boomers need to come off their high horses for a minute and take a look around.

Yeah, you're right. I was expecting some intelligence and shrewd planning from Gen Y when I posted that. I completely forgot they lack that - as well as any skills to fix anything - including their own lives. It's all somebody else's fault they can't live like millionaires on their beer budgets at age 20. (except they don't budget, they just blow their money servicing debt).

This is just idiotic stereotyping of an entire generation, and it just further proves that the baby boomers seem to think they had it so hard and had to work for every scrap of food, and today the younger working generation doesn't realize how easy it is. Well, actually it's much more difficult financially today than it was for the baby boomers.

And the irony is, GF has said in the past that she has financial issues due to circumstances beyond her control. If that's not saying it's somebody else's fault I don't know what is. What's the old saying, "pot calling the kettle black"?

[NAB]

Sorry Unknown, but "circumstances beyond one's control" DOES NOT EQUAL "someone elses fault", .......or anyone's "fault" for that matter. And by taking that interpretation I think you just added credibility to gramma's point :127: Gen X and Y seem to be always blaming their situation on someone else IMO. You should try living in current times as so many of the Pre-Boomer generation have to then you might have good reason to whine.

One thing seems sure, gen X (and moreso gen y) don't face the major competition for jobs that the boomers and pre boomers had to face. And they have far more lucrative government provided social benefits to tap into than many of the boomers and pre boomers had. And who do you think is now paying for that? Not gen y fer sure.

Nab

[UnknownResident]

Sorry Unknown, but "circumstances beyond one's control" DOES NOT EQUAL "someone elses fault", .......or anyone's "fault" for that matter. And by taking that interpretation I think you just added credibility to gramma's point :127: Gen X and Y seem to be always blaming their situation on someone else IMO. You should try living in current times as so many of the Pre-Boomer generation have to then you might have good reason to whine.

Nab

Who's doing the whining? I've done pretty well for myself. Flourished in tough times, with tough circumstances. I've outworked the older generations to get where I am. The whining as you put it, is coming from the boomers side of the table. It appears Gen Y has gotten under the skin of the boomers, which I've struggled to find out why. Perhaps in modern times the boomers are struggling to adapt, and have to rely on petty name calling and ridiculous stereotyping, which only furthers the divide. Perhaps Gen Y enter stage left, boomers exit stage right, makes the boomers a little uncomfortable with reality, thus resulting in a need to point out any "faults" they can find. In reality, just as all generations, Gen Y is a product of the generations before them. If there is something terribly wrong with them, perhaps the boomers have played a crucial role in developing them to be this way.

Whatever the case, the way that the boomers, particularly here on castanet (although it's also seen in the workplace), handle themselves is childish, insecure, a bit insulting, and at times quite assuming. So say what you may, Nab, it appears to me as though one generation has taken the high road, while the older generation has caused a divide. But continue on stereotyping all of Gen Y, cause hey, you boomers obviously know what's best, I mean look around. :127:

[Glacier]

The great irony here is that when (or if) house prices plummet, everyone will be crying about the middle class' wealth been wiped out. If they remain high, everyone will be whining about how the average person can no longer afford a house today.

One thing we can always bank on is that there will always be something to complain about.

[Captain Awesome]

One thing we can always bank on is that there will always be something to complain about.

Stop complaining, Glacier.

[NAB]

So say what you may, Nab, it appears to me as though one generation has taken the high road, while the older generation has caused a divide. But continue on stereotyping all of Gen Y, cause hey, you boomers obviously know what's best, I mean look around. :127:

Well, other than the fact that I am not a member of the boomer generation, carry on blaming all your problems on others from previous generations. It ain't gonna change anything you have to deal with because you cannot unring a bell. And history is just that - history.

Nab

[grammafreddy]

Talk tot he Baby Boomers. Gramma is aperfect example. She has no idea of what is going on outside her world. She wouldn't last 5 minutes in todays environment, much like most Baby Boomers Ihave worked with or talk to.

Ummmmmmmmm ... just how old do ya think I am?

Don't let the avatar fool ya, kiddo.

[NAB]

Who's doing the whining? I've done pretty well for myself. Flourished in tough times, with tough circumstances. I've outworked the older generations to get where I am.

I suspect you don't have a clue what really tough times, tough circumstances, or even what really hard work even looks like compared to what previous generations have faced and lived through.

Nab

[dumbandhappy]

I went for my ride. I see it has been busy here.

:rate10: to the first one who knows what this song means.

http://www.youtube.com/watch?v=MtSzpKiARrI

tired

be sunny.

:sunshine:

[dumbandhappy]

I hope no one is mad at me here. I hope no one gets mad at me because it is Prime Minister Trudeau. But I am reading his memories that I bought at the library for a dollar.

"Canoing forces you to make a distinction between your needs and wants. When you are canooing, you have to deal with your needs: survival food, sleep, protection from the weather. These are things that you tend to take for granted in so-called cifilization, with its constant pressures on you to do this or that for social reasons created by others, or to satisfy artifical wants created by advertising. Canoeing gets you back close to nature, using a method of travel that does not even call for roads or paths."

Is there a lake here where I can rent a canoe? I like to do that but i rented a canoe at Lake Louise when I came across and it was expensive.

It's sunny, be sunny.

:sunshine:

[Glacier]

The following article pretty much sums up what's wrong with Gen Y...

Why are American kids so spoiled?

[dumbandhappy]

Thanks glacier. I read the article and my dad used to say there's no success like falure and maybe that's what's going to happen when the government stops acting like everybody is being a kid with the intrest rates like they are and starts to love us more.

:sunshine: