The Laziest Generation
Ibrahim talks about house prices in the US, how it's only getting worse, and the perception from previous generations that kids today are somehow lazy because they can't afford a house before the age of 40.
Being the father of 2 young people, this worries me too. Despite this post being US-centric, the script is the same here in the UK.
Unless my kids generation come out of school on a 6 figure salary, they don't have a hope in hell of buying a decent house.
To put that in context, here in the UK a £100,000 salary puts you in the top 3% of earners.
In the late 90's a house would cost around 4x a person's salary on average. Today it's 8x. So most can forget about saving for a deposit.
Instead younger generations will have to rely on inheritance, which will only exacerbate the late stages of life in which people are buying houses.
Something has to give.
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