Wells Fargo to pay $3.7B settling charges it wrongfully seized homes and cars

Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by sweezyjeezy on Tuesday December 20, 2022 @08:33PM (#34075564)

OK well tech comp is very much not that high in the UK, so I won't speak to that, but the fact remains that things are objectively, numerically harder for us, and getting a lesson in life from those who had it easier is not very convincing.

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Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by xyzelement on Tuesday December 20, 2022 @09:37PM (#34076030)

// But the fact remains that things are objectively, numerically harder for us

So I never dug into this before but I found this interesting chart from the US government [1]

It does seem like a relatively smaller percentage of young people own homes today vs 40 years ago - but not as shocking as you'd imply:

Percentage of people <35 who own a home: 1982: 41% 2021: 38.5%

Percentage of 35-40 who own a home: 1982: 70% 2021: 62%

So while the trend is down - it still seems like over a third of people under 35 own a home, and over 60% of those 35-40 do.

That sounds very far from impossible.

[1] https://www.census.gov/housing/hvs/data/charts/fig07.pdf

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Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by TylerE on Tuesday December 20, 2022 @10:14PM (#34076234)

Small sample size, but many of the people that I know that are that age and own a home inherited it, they didn’t buy it.

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Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by ipaddr on Wednesday December 21, 2022 @02:18AM (#34077624)

This happens in each generation

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Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by jackpirate on Tuesday December 20, 2022 @10:59PM (#34076475)

I suspect the numbers would be worse if you looked at households instead of individuals due to declining marriage rates (but I'm not willing to put in the effort to find numbers).

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Re:Wells Fargo to pay $3.7B settling charges it wrongfully s... by xyzelement on Wednesday December 21, 2022 @12:07AM (#34076886)

I don't understand what you're saying. To me, if the rate stays flat but represents fewer married couple, then this same rate actually means more homes are owned by people of that age.

Meaning - if guy and girl are married and own a house together, that counts as 2 people towards home owner bucket.

If they are not married, they'd need to each own a house for the same rate to hold.

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