Triple Whammy

20 04 2017

USA

The concept of moral adulthood is discrete from the concepts of legal, biological, ethical or political adulthood.  Made simple, it’s when you both can afford to live on your own, and actually do so.

More and more millennials are finding it harder to achieve moral adulthood.

Why?

Triple whammy, not Failure to Launch, por favor.

Housing crunch, wage and salary equilibrium depression, and the higher education bubble, are simultaneously converging on millennials.

Don’t worry, though, those might be bugs to millennials, but they’re features to the top several percent.

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9 responses

20 04 2017
jb

And immigration.

20 04 2017
countenance

Immigration fuels both the housing price spike and the wage depression.

20 04 2017
Cranmer

I actually have a fourth whammy of protective/permissive parents, and fifth whammy of high expectations.
When I moved out in 1996(!), I moved into a crappy 2 bed with two other guys in UCity on the corner of east gate and Vernon. Steam heat and no a/c. Sketchy area, 3rd floor walk up, brick oven building. It was paradise because I could wake up and smoke in bed (tobacco) and have a beer and fall asleep on the couch. I could have whatever girl I wanted spend the night (if I could convince them). Bottom line, I was out from my parents rules. Kids today have no rules, so what is the motivating factor for leaving? Couple that with parents willing to subsidize their kids lives and kids never need to leave.

With high expectations, kids don’t want to move into a crap apartment anymore. It’s got to be a cool loft with hip bars and restaurants within stumbling distance. No a/c wifi or garage parking, they don’t want it. Better to live with the parents beachside why not?

PS my rent in 96 was $300/3, and I lived with no ac for two summers. Those were the days

20 04 2017
AnAnon

You had hope for the future though, what with the unprecedented tech and stock boom ongoing at the time. We’re in more of a great depression now. When that changes parents will be more willing to kick kids out of the nest.

20 04 2017
Cranmer

Actually, we had no idea of the tech boom coming. My friend still laments that in one of our apartments someone had left an amazon magnet on the fridge, and neither one of us thought to invest. We had sound financial advice staring us in the face every time we got a beer.

20 04 2017
countenance

Netscape’s IPO in 1995 was a sign, but it wasn’t well understood at the time.

20 04 2017
AnAnon

“Netscape’s IPO in 1995 was a sign, but it wasn’t well understood at the time.” – regardless of whether it was understood at the time Americans had jobs and money, people can and do see that.

Back to the original post, another thing harming young workers has been the obliteration of youth employment social networks. Its difficult to get your foot in the door when immigrant adults have taken basically everything. That is going to be pretty painful, for them, to fix, tough shit I say.

20 04 2017
Alex the Goon

You can kick yourself over any missed stock opportunity, but in theory you were right to pass on Amazon. It never made sense for the masses to do their primary shopping online, and have small batches of stuff (even single items) delivered hundreds of miles by the UPS guy. You couldn’t have predicted, 20 years ago, that TPTB would allow the undertow to effectively ruin malls and B&M shopping in general. The primary reason their stock is soaring now, is the same reason for the Tech Boom — there’s too much damn money seeking too few places to invest.

20 04 2017
Barnard

I have seen a lot of the high expectations group. If an apartment is not as nice or nicer than their parents house, they don’t want to live there. The video game playing failure to launch group is also bigger than most people think. If the parents were less permissive it would help, but they also need to offer better guidance as they enter adulthood. Convince them they may need to move somewhere they don’t really want to live, take a job they won’t find fulfilling in order to get established, etc.




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