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Gen Z is choosing not to drive
(www.newsweek.com)
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this post was submitted on 20 Jan 2024
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It costs about 400K to 500K where I live to buy a house that used to be around 150K 30 years ago. Times are fucked
While wages stagnated
That's not that bad unless that's already adjusted for inflation. If you haven't adjusted it already then 150k would be 310k today. Where I'm at house costs have increased 5x after adjusting for inflation.
This is after inflation has been calculated. I live in the Netherlands atm, you can look up how fucked that market is.
My dad bought a house as the only worker and supported my mom and 2 kids 30 years ago. Now, I cannot buy that house even though I earn more than double than what his job currently pays while I don't have to support other people. It's crazy. The Netherlands as well btw.
When my parents bought my childhood home in the 90's they paid 150k euros for it and when they sold it in 2010 or so they got around 300k I believe. While it's more money it's not worth the double. It pretty much cost that much to buy their 2-room apartment then