The EU, with the ability for people to cross borders to work, is a huge factor.
What? Take in millions of illegals and the demand for housing goes up? You don’t say!
In 2006, a person earning €30,000 a year could reasonably expect to spend 20%- 25% of their income on rent, so in many cases, one week’s salary covered an entire month’s rent. And this leaves enough room for holidays, savings, and yes, even a social life. Fast-forward to 2025. That €30,000 a year now barely scratches the surface of independent living. Rent nowadays will eat up 40%- 60% of income in many urban centres
Intellectual dishonesty. Citing income of $30K in 2006 and what it could buy, then saying you can’t live on that in 2025. Of course you cant. Who is paying Gen Z $30K/year. Even here in the US, $30K is less than minimum wage for a FT employee. Europe has experienced approx 60% cumulative inflation since 2006.
Gen Z is next in line. No other options.
Gen Z was created by previous generations. The Internet. Smart Phones. Progressives (Obama). COVID. The 22-year-olds didn’t build all of that. They got stuck with all of that.
The world will need to make adjustments. If Gen Z is damaged goods, they are not going to become undamaged.
“On top of all that, the rising inflation, rents, and lifestyle are at an all-time high, so comparing the previous generation to this one is severely understated.”
I guess these people weren’t around in the ‘70s, when I was starting out.
I’ve got a few ideas. Stop flooding European countries with 3rd worlders and housing won’t explode in price.
Stop sacrificing to Gaia and there will be more jobs, jobs will pay better and everything will cost less since energy is a key input into almost everything.
Also, if you quit letting in hordes of 3rd worlders to live on the public dole there would be more money for the public healthcare systems.
Look at all the things that can be made so much better for younger workers by applying a little common sense for a change.