Yeah, the old dogs had it good. Cheap houses with low mortgage rates, high returns on investments, good paying jobs that didn't need an education and job security.
The young generation have it pretty good to now with the internet though. Countless opportunities out there but young people have to be smart and hard working now a days where as the older generations could be dumb, lazy and uneducated and still have a nice house, a cottage, a boat and a good amount in the bank.
LOL. The old dogs had mortgages at 10-15%. In the past 15 years, a typical mortgage is about 3%. Only in the past 6-7 years have real estate prices really shot up. So if someone missed the boat, too bad. But at least the mortgage now are very low.
One reason why old generations seem to have more is because they also they don't go around buying the latest iphone every year, going on annual trips to Mexican resorts, eating out and drinking Starbucks all day. Buying a car was getting an American family sedan which wasn't glamourous, but it was cheap, ugly, but got the job done.
As a kid, most of us growing up MAY have had an annual trip. But that was more like camping or taking a road trip to Montreal or Ottawa. And if your parents had cash, a trip to Florida for Disney World. Hardly any of the old generation took trips every year when they were young. But somehow every 20-30 year old now MUST blow their wad going to Aruba or the Carribean. And some of them twice a year. No wonder you're broke.
Millennials prefer to spend the money they earn buying tons of shit and itching to buy that BMW 3-series car asap. A car they can't afford (yet), but they still got have it and buy it despite crazy car and insurance payments.
Older generation were more about saving, living more modestly and banking money for a rainy day.
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