Young adults didn’t have much assets in the past either. I suspect a strong factor here is rather that due to high rents for apartments in population centers, young adults are forced to stay with their parents which can be quite miserable at that age.
People earn more as they age there’s no doubting that. However young adults now own less assets overall than their parents or grandparents did at their age. It continues that way for every age cohort too.
The baby boomer generation owns and has owned more wealth than any other generation in US history even when accounting for age.
I don’t think that’s it either. Young adults have been living with their parents for generations and in many parts of the world that is still the norm. You just go from dependent, to independent, to caretaker of your parents as they age. My own opinion on this is 1) social media. Before we only compared ourselves to our immediate peers. Now we are exposed to millions of people online. Especially when combined with the insidious algorithms made to keep you on these platforms. 2) The constant feeling of impending doom that makes us feel like we don’t have a future. Makes everything we do feel pointless.
Young adults didn’t have much assets in the past either. I suspect a strong factor here is rather that due to high rents for apartments in population centers, young adults are forced to stay with their parents which can be quite miserable at that age.
People earn more as they age there’s no doubting that. However young adults now own less assets overall than their parents or grandparents did at their age. It continues that way for every age cohort too.
The baby boomer generation owns and has owned more wealth than any other generation in US history even when accounting for age.
Removed by mod
Removed by mod
I don’t think that’s it either. Young adults have been living with their parents for generations and in many parts of the world that is still the norm. You just go from dependent, to independent, to caretaker of your parents as they age. My own opinion on this is 1) social media. Before we only compared ourselves to our immediate peers. Now we are exposed to millions of people online. Especially when combined with the insidious algorithms made to keep you on these platforms. 2) The constant feeling of impending doom that makes us feel like we don’t have a future. Makes everything we do feel pointless.
Removed by mod
Removed by mod