At 27 I just finished postgrad professional qualifications and share a 2 bed flat with 2 friends. I lose 65% of my income to taxes and rent and have 10sqft personal space.
Avg house prices are 9x salary vs 4.5x in the 70s, so it takes a long time to save up to get started.
Let's talk solutions. 1) Govt needs to stop propping up housing market 2) Govt needs to relax planning and allow more houses to get built 3) NIMBYs must be stopped 4) Workers deserve fairer wages 5) To do that, boomers need to pay more of their costs 6) More social housing
source: https://nitter.net/TypeForVictory/status/1443850540614668299...
https://www.census.gov/library/stories/2017/08/more-adults-l...
Either way, the second half of this century is going to be bleak. That’s the other reason young people aren’t having kids: why bring them into a world that’s likely to be pretty awful?
We cannot continue increasing productivity exponentially forever, and likely not for a whole lot longer. We’re already seeing the system collapsing in on itself — the supply chain woes we’re seeing right now are IMO the result of over-optimization over the last 3 decades. Infinite growth assumes there’s an ample workforce. When birth rates are below replacement levels, that’s not a good assumption.
We need to take a mindset of “what is the most productive way to optimize the limited and shrinking resources we have” rather than “how do we keep productivity growing forever”. Otherwise unrest will grow, and it’s a lot easier to smash a broken system than it is to maintain one.