Within the millennial generation, a rift appears

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The younger half: “WE ARE STRUGGLING” as they have Uber eats three meals a day, go on six vacations a year and buy the latest iPhone as soon as it comes out

R1 here

Duh. A 27-year-old is leading a very different lifestyle than a 43-year-old.

The younger millennials need to be patient.

I don't know quite how but the early millennials have somehow managed to reach the level of Boomers and Gen X in this very shitty economy.

[quote] In 2019, those older millennials along with cohorts born in the 1950s, 1960s and 1970s had roughly the net worth one would expect for their age, based on historical averages.

Oh goody! I was concerned that there weren't nearly enough divisions in America today.

[quote]in this very shitty economy

R6? Get thee hence, you Repuke asshole.

Older Millennials are buying houses on their credit cards. What could possibly go wrong?

There will always be divides of all sorts among generations. Nothing new about that. And yet monolithic thinking still seems to be prevalent.

[quote]The younger half: “WE ARE STRUGGLING” as they have Uber eats three meals a day, go on six vacations a year and buy the latest iPhone as soon as it comes out

Not to mention $7.00 coffee daily.

The older millennials (or is it Xennials) made out like bandits because of the pandemic and WFH. But shhhhhhhhh, don't give it away, nobody is supposed to know!

I know a few people who were able to purchase homes during the pandemic. The people purchasing homes are probably double income or make more.

Every generation has its Haves and Have Nots.

[quote]The younger millennials need to be patient.

And it helps to have broader frames of reference than tweets and Reddit posts. The more you learn about financial history, the harder it is to get caught up in envy and FOMO and defeatist attitudes. Phrases like "This time it's different!" lose their power once you understand that's rarely the case for long.

Elder millennials are the more successful, less woke millennials

I am a millenial and I don't want to own a home. I love apartments and my xbox.

I'm a Millennial in the middle of these two cohorts, and I'll be able to buy a home in a few years, once my student loans are forgiven and the housing market comes back to reality.

But do I want to buy a house in my current city? And pay these outrageous property taxes? And have to hire mowers? Screw that, Jack! I'd rather sock away savings and travel the world.

R12 Work from home really did allow people to move around and buy starter homes in cheaper neighborhoods. The pandemic also really prompted a lot of retirements finally, moving younger workers into management and higher salaries.

Well many of those that were able to buy homes did so only thru help from the VA. Something most of the younger will never be able to do.

How do you figure, R20?

It's a dirty job but somebody has to be the new Baby Boomers.

Why not their direct children?

The older millennials are making a move because they don't want to be lumped in with the whiny crybaby children of Gen Z and younger millennials.

R21

There is only one way to get a VA loan. You have to have an honorable DD214. Hardly anyone relative to years ago has one of those any more, so they can’t get that type of assistance and loan,

They could but they don’t.

I’m so fucking sick of the over- use of “inequality” and “equity”. The press and media have used it to death and seem to manufacture “issues” in order to run to presses with the latest news on “equity justice”. Enough already

I can't imagine older millennials putting up with the bullshit of Zillennials.

I'm an older Millennial but I am nowhere near having the capital to buy a house. I'm "doing fine," putting money in a 401k and also investing on my own. I have a decent job that just paid for me to take a vacation with accrued PTO. After I inherit my parents' house, I may sell it and buy elsewhere.

Much hated Boomer here. When I bought my house in '95 or '96 (too old to remember), my mortgage rate was over 9%. But I sensed that real estate would be a good investment over time, and that tax deductions for interest and property taxes would eventually make it cheaper than paying rent, which it did. I was young and my income would grow, I was told, and it did. Also, interest rates eventually did come down, so I refinanced, at least 3 times over the past 30 years.

From my perspective at the time, older Boomers seemed to have everything and I had no hope.

Someone upthread posted that they'd rather just pay rent, save up, and see the world. I say, try to do both. I've done both, but over the years. For me, it took patience and lowered expectations. I bought a tiny house in a slightly shitty neighborhood that got gentrified. It can happen. Well into my 50's, I still traveled like a backpacker (when it was on my dime - employers sent me to places I'd never expected to visit - Business Class) and "saw the world," 33 countries, so far.

Be patient, empathetic, kind towards your colleagues at work, and productive and valuable for your employer, and you'll go far, whether for home ownership or travel. Manage your expectations and keep your entitlement attitude in check.

Am retiring soon. I supervise six staff, all Millennials, or Gen X,Y,Z, whatever. Some, not all, are lazy, entitled, spoiled brats.

My biggest worry for the younger generations is world overpopulation, climate change, and the rise of fascism. But that's no excuse to stare into your iPhones all day at work and not participate as you earn your 6-fugure salaries and sulk because you aren't promoted every 5 minutes.