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Notes -
I believe there is truth in this. But I do wonder, regarding their ability to live an economically successful life, why is it that most millennials are not doing well financially? Is it a lack of going to college? Or is it majoring in a useless degree that (they probably even knew beforehand) can't land you a job that pays anything? Or is it something else? Most of the people I know who complain about millennials' lack of earning ability fall very clearly into the useless degree category, and also knew very well beforehand that their degree was useless. But I probably am in a very strong filter bubble.
Housing prices seem to be a major factor. Adjusting for inflation, my sister and brother-in-law are each earning more than both of my parents combined were when they bought a house, but ended up paying more for a smaller house in a worse neighborhood.
And this isn't even in one of the cities that's known for having ridiculous real estate price increases.
Edit to add: Career-wise, both my father (at that point in his life) and my sibling + in-law would be considered very successful. I'm not at the same level, but still above the curve. Also worth noting that my mother was able to quit her job shortly after the purchase of the house, so my father alone was able to support them + later on kids.
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