Millionare: Millenials can't buy houses because they spend too much money on Avocados
05-16-2017, 05:38 PM
Crazy high housing and stock markets are really skewing the return on capital Vs return on labour for people under 40.
A 35 year old doctor who went to school for 8 years, spent a few years paying off student loans, and bought a modest house in early 30s because he's not financially reckless, is worse off than a 35 year old government employee who bought the biggest house he could at age 23, upgraded to a bigger house at age 27 and kept the first house after performing a detailed cashflow analysis of "muh rental income".
This lopsidedness​ of success can't last forever, and I think is an indication that something is very out of whack with asset prices in the economy.
A 35 year old doctor who went to school for 8 years, spent a few years paying off student loans, and bought a modest house in early 30s because he's not financially reckless, is worse off than a 35 year old government employee who bought the biggest house he could at age 23, upgraded to a bigger house at age 27 and kept the first house after performing a detailed cashflow analysis of "muh rental income".
This lopsidedness​ of success can't last forever, and I think is an indication that something is very out of whack with asset prices in the economy.