The great American boom is finally running out of steam, leaving mountains of debt
www.telegraph.co.uk
High borrowing and low personal savings are dashing hopes of an economic soft landing
  • invo_rt [he/him]
    ·
    6 months ago

    I haven't gotten a raise in two years (despite getting a promotion) and my rent has gone up 70% in the past 4 years. I've been effectively priced out of ever owning a home where I live. All this to say my partner's chud dad is old and my partner has to manage some of his finances occasionally. Just one of his accounts made $500K so far this year. Our only chance at owning a home is to bank on a generational wealth transfer that could take a decade or more. It's a fucking joke.

    • SuperZutsuki [they/them]
      ·
      6 months ago

      It's nuts to me that parents making that kind of money don't just buy houses for their kids. Like how fucking cruel can you be?

      • umbrella@lemmy.ml
        ·
        6 months ago

        expected coming from the country that kicks out 18yr olds from home like sacks of shit and insist on driving huge suvs to the detriment of their kids

      • Yiazmat@lemmygrad.ml
        ·
        6 months ago

        this was always so weird to me. My parents at least have an excuse that they're as broke as I am so I don't expect it from them lol but I have a friend whose parents are retired and have like, literally millions spread across different accounts and they refuse to help him out with anything. it's not like they have a bad relationship either, it's just a "pull yourself up by the bootstraps, kiddo" kinda thing.