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Some Boomers Think That Netflix Subscriptions And Takeout Are The Main Reasons Why Millennials Can’t Afford Homes, Millennials React (31 Tweets)
When the generation of millennials grew up and became adults, they were almost right away accused of crashing the economy and boomers were very concerned that they were eating too many avocados. So many that if they didn’t buy so many of them, they could have bought a house already.
Now they've found new reasons why millennials can’t afford their own property and that is Netflix and takeaway food. The Times released an article about how baby boomers suggest young people should stop indulging in such life luxuries as Netflix and takeaway coffee and food. A study by researchers at King’s College London showed that half of the population of people born between 1946 and 1964 believe this.
Image source: thetimes
People online were disappointed by the study’s results, but not surprised, as the narrative about millennials being lazy and too wasteful of money is a long-standing one, but that doesn’t mean that they’ll stay silent about it. When The Times shared the article in a Twitter thread, they received quite heated responses, which Bored Panda collected in this list.
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The Times, the British daily national newspaper, recently shared a link on Twitter to an article on a survey demonstrating the attitudes of different generations on housing, and while the tweet didn’t blow up likes-wise, many people came to the comments to say their piece.
According to the research by the Policy Institute and Institute of Gerontology at King's College London, 52 percent of the baby boomer population agrees with the statement that the main reason young people can’t save up for a down payment to get a house is that they spend too much on things like “takeaway coffees and food, mobile phones, subscription services like Netflix and holidays abroad.”
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#2
Stacey Rae 2 years ago
Lol you made me laugh. I'm sorry it's so financially hard. If the billionaires would share the money...
It seems that this view went down a generation as even millennials themselves started to believe in this, and 48 percent of them agreed with baby boomers. The youngest adults, Gen Z, are not far behind, with 43 percent of them thinking that if they want to get a home, they should review their small spendings.
The survey also asked, “To what extent, if at all, do you agree or disagree with the following? The key reasons that young adults today cannot afford to buy their own home are things like the increase in house prices, stricter lending rules and low wage growth,” and surprisingly, 72 percent of boomers acknowledged that the skyrocketing prices are also a contributor to the problem.
#4
Jill Sophia 2 years ago
How many Baby Boomers did the Times interview when they posted those headlines? Because they certainly weren't speaking for all of us! We're Baby Boomers (retired teacher and retired office worker), we often order out food, and yes, we have Netflix; so does our son — a Millennial who works hard at a demanding job — and so does his GF and most of their friends. Their generation, and Gen Z as well, are faced with stresses and demands that Boomers like us didn't have to deal with; it's much harder for them to find decent-paying jobs, and the 2008 recession plus the current pandemic haven't helped either. I will not criticize any hardworking young person for having Netflix, ordering takeout food, or (for that matter) buying avocados — small comforts that we all need to make our lives better in this crazy world. Mstrtheir
#5
Ozacoter 2 years ago (edited)
Exactly. Changes have increased a lot. About 20 years ago my aunts bought a big 3 bedroom appartment (in good condition) in the centrum of our city for what now would be like 140.000 euros. I just checked and there is a similar apartment (but old) in the same street for 800k. How is our fault that we cannot afford houses? I do not earn eight times what they earned.
Even though baby boomers acknowledged that not being able to afford houses is a complex problem consisting of factors that do and don’t depend on younger people, they still have the view that they are less motivated and hardworking than older coworkers. 54 percent of them have formed such an impression about their younger colleagues, although 34 percent didn’t see a difference in motivation and only 4 percent noticed them being more motivated.
It is really annoying for younger people to be blamed for not being able to afford a home because of occasionally spending money on things that bring them happiness and help to cope with stress.
But they should feel a little bit of consolation knowing that 81 percent of boomers, the biggest percentage of all generations questioned, admitted that young adults today have a harder time buying a home compared to their parents.
#7
Rhyme Like A Lime 2 years ago
It's those damned streaming services that cost $10 a month, obviously if we can cancel that we can afford a $350,000 starter home
#8
Mia D 2 years ago
Not forget to mention the average cost of raising a child (0 to 17 y.o) is 233K in the US. My neighbors paid literally 100K for a preschool/kindergarten in 5 years! My other neighbors pay 2900 us dollars a month for Montessori academy (it is sort of preschool-learning kindergarten). So my question to baby boomers- how much did you spend on your kids?
It seems that the majority of older people do realize that the prices have gone up quicker than salaries and the job market is more demanding than ever. However, people online couldn’t get over how many boomers actually think that the amount of money young people spend on takeaway food and Netflix would really make a significant difference in their savings for a down payment.
Only in the last year, house prices in the UK increased by 9.8 percent, while the average salary growth was only half of that. Also, bank rates are going up, so now it’s harder to pay off a loan than ever before.
Young people online tend to see the problems that are out of their control as more contributing to the problem in comparison to their faulty spending habits, and that is why they get so frustrated when older people keep saying it’s their fault. What do you think? Did the survey results surprise you? Do you agree with the opinions in this list? Do you think young people could save more if they adjusted their spending habits? Let us know in the comments!
#11
Nizumi 2 years ago
1970-ish. My dad (engineer) was earning maybe $10,000 a year - maybe a bit less. A modest 3 bedroom house on 1/8 acre was $18,000. Sure - Salaries may have increased 10x over the decades, but the price of a house has gone up 30x or more. It's insane! How is anyone supposed to keep up?
#16
UpQuarkDownQuark 2 years ago
I don’t see a megayacht in the water. It’s because you’re still buying Starbucks, isn’t it? Learn to manage your money!!!
#18
M. William Bell 2 years ago
Jesus works in mysterious ways. As your run-of-the-mill god, he clearly not only invented Netflix but he ALSO made you broke in order to test something that you will never conclusively understand. Religion is amazing (but only if you’re watching it from the outside).
#19
Wilko Lunenburg 2 years ago
No you won't. By that time you'll need to save for 120 years for the same flat.
#21
Deirdre Segraves 2 years ago
I bought my house in Jan 2020 and I desperately want to take the money and run, but no way am I getting stuck in this rental market forever.
#24
albernistuff 4sale 2 years ago
Yeah, the Times has gone from respected journalism to click bait BS
#29
Brian bell 2 years ago
That's easy. Draw a line, representing income over time at about 5 degrees from zero from say 1980 to now. Then draw a line, representing mortgage payments (housing costs overall) from that same zero point at just under an 87 degree angle from 1980 to now. That should give a low rough estimate.
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What do you think ?
Phil Rubin 2 years ago
Short on money? Got the gift of Gabe? Are you really good at lying? Fantastic! Start a religious cult and the money will flow in tax free! Yes, the flock will put you into expensive clothes, cars, planes and a 30,000 square foot mansion. All you have to do is convince ignorant people (and there are LOTS of them) to send you money or gawd won't like them. Very simple.. this is done every day. Never be poor again. You can do it! /s
Xandra 2 years ago
Attributing characteristics or quotes to whole generations (boomers, millennials, gen z...) is kind of stupid ("boomers have some advice..."). I, for one, never heard my parents or their friends say anything close to that, they are quite aware of the much higher prices for everything.
Tams21 2 years ago
I agree, this kind of thing is happening too much. There are enough right-wing news sources peddling the "us versus them" narrative, we don't need it here too.
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Lisa H 2 years ago (edited)
Boomers: "Cancel Netflix and you'll save tons of money!" Also Boomers: *pays $180+/month for cable service*
Kathleen Pearlman 2 years ago
Us Boomers pay over $200 for cable. I try to get the spouse to cut things, but his entertainment is "worth it".
Load More Replies... Phil Rubin 2 years ago
Short on money? Got the gift of Gabe? Are you really good at lying? Fantastic! Start a religious cult and the money will flow in tax free! Yes, the flock will put you into expensive clothes, cars, planes and a 30,000 square foot mansion. All you have to do is convince ignorant people (and there are LOTS of them) to send you money or gawd won't like them. Very simple.. this is done every day. Never be poor again. You can do it! /s
Xandra 2 years ago
Attributing characteristics or quotes to whole generations (boomers, millennials, gen z...) is kind of stupid ("boomers have some advice..."). I, for one, never heard my parents or their friends say anything close to that, they are quite aware of the much higher prices for everything.
Tams21 2 years ago
I agree, this kind of thing is happening too much. There are enough right-wing news sources peddling the "us versus them" narrative, we don't need it here too.
Load More Replies... Lisa H 2 years ago (edited)
Boomers: "Cancel Netflix and you'll save tons of money!" Also Boomers: *pays $180+/month for cable service*
Kathleen Pearlman 2 years ago
Us Boomers pay over $200 for cable. I try to get the spouse to cut things, but his entertainment is "worth it".
Load More Replies...
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