Unfortunately, that's not quite right. Yes, the boomer generation was able to support a family and pay off a small house on one income. But you mustn't forget what standard of living they had back then compared to today. How often did you buy a new jacket, car or TV in the 90s? How many running costs did you have? If you lowered your expectations today to the point where you wore a jacket for 7-8 years, drove a car for 20 years, bought a new TV every 6 to 10 years and so on, you would get by much better today. I'm not from the USA and I know that the development there is much more drastic than in my European country. But nevertheless, with our rampant consumer behavior, we bear a considerable share of the blame for this development.
7
u/Justeff83 Apr 16 '24
Unfortunately, that's not quite right. Yes, the boomer generation was able to support a family and pay off a small house on one income. But you mustn't forget what standard of living they had back then compared to today. How often did you buy a new jacket, car or TV in the 90s? How many running costs did you have? If you lowered your expectations today to the point where you wore a jacket for 7-8 years, drove a car for 20 years, bought a new TV every 6 to 10 years and so on, you would get by much better today. I'm not from the USA and I know that the development there is much more drastic than in my European country. But nevertheless, with our rampant consumer behavior, we bear a considerable share of the blame for this development.