I found an article that says Millennials, such as myself, are actually the unhappiest age group in the UK and Boomers are the happiest...but why is that?
Let's look at the wealth distribution by age group in the UK....*Boomers own approximately 80% of private wealth in the UK, mostly centered in properties and pensions*
80%! Boomers are only about 20% of the population in the UK but hold 80% of private wealth, incredible!
How did the boomers do this? Are they smarter than everyone else?? More hard working?
No, not at all...the boomers actually had it really good and then made sure we didn't.
For example, In 1970, homebuyers could expect to pay £4,975 for a house in the UK and the average weekly wage was about £32. Math tells us that the average person would need 156 weeks of work to buy a house in 1970.
Let's look at 2018. In the UK, average weekly income was about £574 and the average house price was £226,906. Math tells us that the average person would need 395 weeks of work to buy a house, wow that's 2.5 times longer than back in 1970.
So, how did they do it? The most common way is that they bought dirt cheap houses in a time where a family of 4-5 could live comfortably on one moderate income that didn't require a college degree. Then they held on to their property and enjoyed awesome surges in real estate prices, all while telling the younger folks to just work harder.
There's a housing shortage in most western countries, primarily because if you build more houses, demand goes down, and prices go down, which means wealth goes down.
So even though more housing can be built, the people who control things, aka the folks with the money, don't want to build houses because they would get poorer and that's not fair
.
Yet the millennials, who are far more educated than the older cohorts cant afford housing and we get told its because we're not working hard enough!
The birth rates are dropping bc millennials cant afford kids, and what are the boomers saying?? Just do what we did!
Well we can't!
It's like the boomers went to an apple orchard, picked all the apples, cut down the trees, and took all the tools and are now yelling at us to get our own apples.