Unfortunately it’s not about how boomers planned individually for their own well-being long term. In that regard they are probably even better at it than any generation but they were given the tools and opportunity that others have not, no, what is meant by the second bullet is failure to plan long term from a societal perspective and what the political class decided to do.
All of this proves my point.
In one of the tighest real estate markets ever recorded in Canada, Boomers are not letting go of their homes
The reality for a typical young person is they have to go to school longer, land jobs that pay thousands of dollars less and face skyrocketing housing costs, one expert said.
The fact is that it was easier to get into home ownership despite high interest rates of that time also shows that the boomers had several advantages in order to do so.
Also: NIMBY attitudes of Boomers has led to issues in real estate.
In Generation Priced Out, Randy Shaw examines how Boomers have blocked affordable housing in urban neighborhoods, leaving Millennial homebuyers in the lurch.
And no one is expecting you or others to feel any moral blame. Causal blame and recognizing that maybe the way boomers ran things though is another issue. And yes of course it is hindsight. But there was little foresight. I am just stating facts that have led to where millennials are sitting. You did what you did and why not? Those were the rules or opportunities of the time.
But let’s not pretend that millennials were given the same opportunities that Boomers had.
More on some of what I mused about. Like I said it’s well documented. People don’t have to like it but it is what it is. And history is already judging and I suspect when the millennials finally take the lead they won’t be too kind in their assessment of the world that Boomers left them.
Boomers left future generations with debt and a broken economy, billionaire Howard Marks said. It says a lot about millennials' affordability crisis.
This article talks about how millennials never recovered from the Great Recession. We can argue what caused that…it also debunks a bit how millennials spend more than they earn.
Also plenty of literature on it.