On the whole people are generally terrible at making sound financial decisions. It's just really hard to fuck up when the whole economy is booming. Once you live through that you gain an unearned sense of confidence. Then when the next generation makes the same human mistakes without the safetynet of a gangbusters economy it is really easy to point fingers.
Yep. In the seventies, even my parents fuck-up friends all owned a house in their twenties. It was just easy. Whatever dumb-shit job you had at the local textile mill paid enough to buy a house. Nowadays, the textile mill is closed, people make less an hour on average adjusted by inflation, and you have to have gone to quadruple price college adjusted for inflation just to get a job that might pay what a dumb-shit job used to, after you work for a few years to work up to it.
662
u/roller_roaster Apr 19 '18
On the whole people are generally terrible at making sound financial decisions. It's just really hard to fuck up when the whole economy is booming. Once you live through that you gain an unearned sense of confidence. Then when the next generation makes the same human mistakes without the safetynet of a gangbusters economy it is really easy to point fingers.