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]English
    47•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]English
      37•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.mlEnglish
        20•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

      • YiazmatEnglish
        17•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.