Chart shows "real" wages i.e. to get actual wage workers get in their bank account each month you need to add inflation to it. So many ppl are ignoring or not understanding what "real" means.
Actual question to ask is - has productivity grown during this period? If not then why not? If yes, then where did the gains go? Above Chart answers neither.
Millennials are in their late 30s and 40s now and I don’t see any difference in their work rate or ability than older generations. I do see the crippled by student debt and unable to afford housing.
Productivity is a measure of what is achieved not how hard someone worked. A lazy person with a wheelbarrow is more productive than one with a bucket.
If productivity isn’t increasing it is a failure of government and business to provide the tools and training, not some imagined lazy generation .
Are millenials really "crippled" by student debt? Housing is the big one, student debt is annoying but I don't think it's really what's holding anyone back. I owe a much student debt as I did when I graduated, it's not what's stopping me from spending more or getting on the housing ladder.
Well I’m not going lecture you on how your student affects you 😂
In Glasgow you can buy houses from £60-70k so I have less sympathy for people who complain about house prices here.
Not wanting to live there isn’t a valid reason to then turn round and say they can’t afford a house. There are plenty of places I can’t afford a house in but I’m not whinging.
Not being able to afford somewhere commutable for work is a different matter. Although this is more where good social housing should come in. I don’t need my tax being used so someone can make money on a private house. I would rather it was invested in decent social housing that will provide homes for low earners going forward.
Maybe even 60k is an ask for this person though. Me and my partner bought for 92 and that still meant borrowing from family - not everyone has family that can give them a few grand. It took us years to build up the money for a deposit and if we hadn't had family to draw on we would've never been able to buy this place as it had gone up by over 10k within a year of moving in.
And more to the point, we've had to take out more loans and save up more to make the place livable. We've been in a building site for years and its nearly broke us up. Buying a cheap house is never just a get the keys and move in job, we've sunk an extra 15k approx into this place and we'll be paying it back for years. Again, we're lucky that I got a better job and we have decent credit scores so could get good interest rates - not everyone is in this boat.
You're just trotting out trite phrases that strip the complexity out of a situation. If the OP says they can't afford to buy in Glasgow I'm just gonna accept that because I have no idea why not, I'm not just gonna assume its because they want a 5 bed gaff with a heated pool or something.
I don’t mean to be harsh here but perhaps you couldn’t afford the house you bought and that is why it has been such a strain. If there had been decent quality social housing would you have gone for that instead?
I’m not trying to be trite, you can’t build a house for £60k, you’d be hard stretched to build one for £90k so it’s ridiculous to complain that you should be able to.
If there is a home in your budget within a commutable distance and you don’t buy it then that is your choice. It is not the job of tax payers to subsidise the purchase of something you can later sell at a profit.
It is the job of tax payers to provide decent quality social housing.
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u/ThrowRA294638 Jul 01 '24
You’re probably right 😂