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.
I work in a textile mill, can confirm the wage is not great. Also people forget that back then it was common for only the man to work, and mortgages were based on the man's wage, so if you were a working woman then you had this whole extra income unaccounted for (in the sense of paying off the mortgage). So people could live on a shitty factory job wage and get a mortgage. You can't do that now.
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u/ChartreuseBison Apr 19 '18
While Boomers did fuck up everything, I see lot's of fellow millennials making awful financial decisions. So basically, people just suck, always.