1w ago

Sure, WSJ. Next do an article on Selection Bias

See! You're not THAT poor. Just give it another few decades!

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Article: https://archive.md/Gr6qG
Basically: got to buy a house early as opposed to most of us ( probably with parents' help), got lucky on the stock market (because he wasn't spending everything on rent), and works as a CFO somewhere.
Definitely not in everyone's reach here.
- But maybe that could happen to YOU, so don't pay too much attention to how much you're getting screwed, because you'll totally be a CFO in just a few more years of work!
  
  Hell, I might be a CFO now and I've failed to notice! Hold on, let me check... No... No, I've just managed to burn a microwave dinner again.
  
  Yup we just need to travel back in time, attend a select private university, have parents who can give us a living space until we save up for a house, and get a job directly into the C-Suite off the networking from that private university. It could totally happen! We don't need any workers, everyone can be in the boardroom!
- and their examples are absurd;
  brent royer got a 40% raise when he left one job for another, which is not a common occurence
  and andy holmes basically moved back home and got a $90,000 home and flipped it to be worth $300,000 while investing in the stock market.
- I bought my house in 2009 and I was really lucky because I wouldn't have been able to afford one precrash. It was actually cheaper to have a mortgage on a house than rent in many 2 bedroom 800 sq. Ft. apartments in my area. Cheaper than some 1 bedrooms in certain areas around here.
  For a few years after 2009 interest rates and prices were low enough much more affordable than now.
  My situation then is not the situation most millennials find themselves in just a few short years after and certainly not now, especially since I'm an old ass millinial.
  I make 6 times what I did when I bought my house and my means is roughly the same plus a car payment basically. My house is worth much much more than what I mortgaged.
  A million back then could have given you a lot, lot more structure and a lot more land. Now it'll get you around a 2700 sq. ft. house on an 4th of an acre in a neighborhood in my area. Less than an hour down the road you'll get a shitbox in the hood.
  This article is just full of so much shit relative to the normal person. But then that's not the target audience. It's just there so Gen Xers and Boomers will continue to subscribe and just drives the "if millinial weren't stupid and lazy they'd have the same opportunities as we did." propaganda.
  
  How are you a millennial? I was barely out of highschool in 2009
  
  If millinial births start in 1980 then a millinial could have been 29 in 2009.
  
  1980 is definitely gen x
  
  I was born after 1980. It isn't definitely generation x because the definition has changed since millennials were called generation y/why. So a person born in 1981 would have been 28 years old in 2009. It doesn't change anything.
  
  Then you maybe aren't one? you're born in the 90s which makes you heavily tail end.
  Edit. Sorry I guess you're millennial out to approx 1996, but still, there are a lot of us born WAY before you. There were millennials in middle school before you were born. Don't be shitty about it.
- I sincerely doubt this asshat is even in the 25% percentile. He's likely closer to the top 10%.
- I mean maybe.
  I went to school through 23rd grade and ran a lab at a university for about 7 years. Then I switched jobs and pastures in industry are much greener.
  I suspect there are a fair amount of us who spent too much time in school and also on donating our time instead of getting paid for it.

85 comments