As they’re living with their parents because they can’t afford an apartment of their own.
This is a serious point. I couldn’t afford a place until I was in a relationship. And that was a long time ago. I can’t imagine how difficult it would be with today’s rent.
For one city in Germany there was an article reporting that moving in together became the new marriage, because giving up your previous accommodation means to be stuck together in the same place for six months or longer after a breakup.
Having a roommate turned an apartment from unaffordable luxury to merely 25% of my paycheck.
I honestly think having roommates is fun, particularly if you’re old friends anyway. But its crazy that a spot at the ass end of town was eating so much of my take home pay even after we cut the bill in half.
Yup. Rent and then food right now.
Do we REALLY need to quiz people to know this? Ffs.
I assumed it was housing.
If we could afford housing, then that would be it.
https://www.economist.com/finance-and-economics/2024/04/16/generation-z-is-unprecedentedly-rich
Y’all are buying homes just fine compared to the last few generations.
Y’all
Rich = Full Time Employed?
You seem to mistake having a salary for having money.
America now has more than 6,000 Zoomer chief executives and 1,000 Zoomer politicians.
Also, what if you’re not a CEO or a politician? Also, plus, too, how on earth is “small town city councilman” or “part-time New Hampshire legislator” a sign of wealth?
That was one single indicator. I agree it’s not the best, to your point, unemployment, homeownership, and salary averages are the ones that show middle class wealth.
I don’t see any of that in the article. Is it hidden behind the paywall?
I don’t get the point you’re trying to make with your graph. Obviously there wouldn’t be many Zoomers working full time; most are still in school.
Zoomers born after 2006 haven’t graduated high-school, and those born between 2002-2006 are in college. That’s leaves only a 5 year window of people you’d expect to be employed full time.
The line for millenials looks about the same as Zoomers.
The line for millenials looks about the same as Zoomers.
shrug
Take that up with the Economist, its their claim and their chart.
I’m trying to understand your argument against the article and what point you’re trying to make by using their chart.
I mean, you’re not wrong there either.
People really love quizzes.
I’m food insecure and a hufflepuff! /s
I was a bit surprised rent wasn’t higher, but I wonder how many of the respondents haven’t moved and have rent control, so they aren’t affected by rent hikes.
Rent and health insurance definitely for me unfortunately
That’s why revolution starts with the bread
Don’t worry though we solved inflation. We just removed it from our calculations. If we don’t count it: it’s not there!
Investment funds stocking up on US farmland in safe-haven bet
Investment funds have become voracious buyers of U.S. farmland, amassing over a million acres as they seek a hedge against inflation and aim to benefit from the growing global demand for food, according to data reviewed by Reuters and interviews with fund executives.
The trend worries some U.S. lawmakers who fear corporate interest will make agricultural land unaffordable for the next generation of farmers. Those lawmakers are floating a bill in Congress that would impose restrictions on the industry’s purchases.
Though their acreage is a small slice of the nearly 900 million acres of U.S. farmland, the pace of acquisitions by investment firms like Manulife Investment Management and Nuveen has quickened since the 2008 global financial crisis drove firms to seek new investment vehicles, according to Reuters interviews with fund managers and an analysis of data from the National Council of Real Estate Investment Fiduciaries (NCREIF).
The number of properties owned by such firms increased 231% between 2008 and the second quarter of 2023, and the value of those holdings rose more than 800% to around $16.2 billion, according to NCREIF’s quarterly farmland index, which tracks the holdings of the seven largest firms in farmland investment.
Farmland offers steady returns even in periods of high inflation, and firms hope crop demand will remain steady as the United Nations predicts the world will need 60% more food by 2050 due to population growth.
You don’t want to confuse “inflation” with “economic growth”. One makes prices go up because the evil bad salaries are increasing. But the other makes profits go up because of the smart efficient business net revenues are increasing.
A prosperous nation needs big new investments in the future. And that means speculating in our domestic breadbasket, so we can maximize the price of inelastic commodities in an effort to optimize consumption habits. You don’t like waste, do you? Optimizing price reduces waste. Its all right here in the book Basic Economics by totally non-problematic and very smart guy Thomas Sowell.
Sounds about right.
No need for bread lines if you can’t afford bread.
shocked pikachu
Yeah no shit
Let me rephrase it.
54% of young Americans struggle to buy food.
Would help if they learned to cook.
Vast majority of my under 40 peers, do not cook. Almost everything they eat is prepared meals or meal substitutes.
We cook for a family of 4 and grocery prices have still basically doubled in our area. Doing a lot more beans and rice lately.
Look up Justin Wilson’s Louisiana cooking. They make beans and rice tasty AF
A lot of people don’t have the time nor the energy to cook these days. If you work long hours or have multiple jobs to make ends meet, things can and will fall to the wayside. It’s not always a matter of laziness like you’re implying.
Considering only 30% of the people in this survey from ages 18-34 are working full time, i’m going to go ahead and say this isn’t an accurate representation of independent young adults.
26% are in school and 16% are unemployed for a total of 42% not really making money / are using loans for housing or are living at home.
28% are working part time and are unlikely to be living on their own - it’s rare to find a part time gig that can afford housing.
So 22% think housing is the highest cost issue… and only 30% are employed full time… sounds about right to me! I’m guessing it’s not 30% because those 8% got mortgages during the 4% or lower interest rate era.
What do you mean by independent young adult. Is that even possible to be any more? Without being born wealthy or making a huge gamble in health and safey or finances or both?
Sure, get a job working in a construction trade, IT, sales (if you are good) and you are easily making 90-110k a year not long after. Independence isn’t difficult with 100k/year and not many obligations.
While I like gardening, unironically advising people to grow their own food to cut costs is just bonkers.
It takes months to grow anything, and given the limited space, you can’t grow much anyway. You’ll be lucky to grow 20€ worth of food on your balcony while spending hours doing the gardening. That’s not cost effective.
Yeah, sorry, no. Even if I had the space, when I get home from work at 1900 the last thing I want to do is more work. It’s not like you can just plop some seeds into soil and do nothing until the harvest is ripe—I know, we had a decent family garden when I was a wee lad. Took a lot of work to keep it going.
If I worked 4 or even 6 hours a day—sure, I could add some homework to my day. But not when working 8 hours+commuting. And many people are working even longer days.
Gardening has its own associated costs with supplies and requires space
It’s the cost of supplies and garden maintenance and see requirement vs the cost of food at the supermarket
It needs to cost less than the growable food you can buy at the store
You can get away with very little supplies, actually. Basically just a small shovel, the rest be salvaged.
Pots can be made from old plastic bins/containers, soil/fertilizer can be made from food waste using worms, seeds can be made from surprisingly many fruits/vegetables. Pumpkin seeds are right inside the pumpkin, potatoes and beans can be put right into the soil, even tomatoes can be grown from store bought ones.
And while it’s a really cool hobby: you’re right regarding the cost effectiveness. Unless you happen to have a significant plot of land, it won’t make a dent in your grocery bill.
Plastic can leech plastic into your food, I know this personally from getting headaches from using soda bottles as water bottles
And my aunt gets headaches from 5G.
You’re not getting headaches from water bottles. It’s placebo (or nocebo, in this case).
Toxic effects of plastic on human health and environment: A consequences of health risk assessment in Bangladesh
Ram Proshad, Tapos Kormoker, Md Saiful Islam, Mohammad Asadul Haque, Md Mahfuzur Rahman, Md Mahabubur Rahman Mithu
International Journal of Health 6 (1), 1-5, 2018
Plastics are used widely everywhere in our life and without plastic, modern civilization would indeed look very diverse. This study focuses on the toxic effects of plastic on human health and environment and possible consequences of health risk assessment in Bangladesh. Plastics are essential materials in modern civilization, and many products manufactured from plastics and in numerous cases, they promote risks to human health and the environment. Plastics are contained many chemical and hazardous substances such as Bisphenol A (BPA), thalates, antiminitroxide, brominated flame retardants, and poly-fluorinated chemicals etc. which are a serious risk factor for human health and environment. Plastics are being used by Bangladeshi people without knowing the toxic effects of plastic on human health and environment. Different human health problems like irritation in the eye, vision failure, breathing difficulties, respiratory problems, liver dysfunction, cancers, skin diseases, lungs problems, headache, dizziness, birth effect, reproductive, cardiovascular, genotoxic, and gastrointestinal causes for using toxic plastics. Plastics occur serious environment pollution such as soil pollution, water pollution, and air pollution. Application of proper rules and regulations for the production and use of plastics can reduce toxic effects of plastics on human health and environment.
This is just a paper citing plastics affects on health in Bangladesh but it does demonstrate that plastic can have these effects
You are wrongly comparing scientifically proven effects of plastic with misinformation
Nope, you’re simply wildly exaggerating the effects of the dosage you’re actually getting.
That’s like saying water causes cancer, because everyone with cancer drank water at some point.
You are not getting the minimum doses needed to get from a water bottle. And again, if you’re getting headaches from a water bottle, that’s your imagination. Period.
Not really surprising.
yep. to anyone who is paying attention. and lives in a HCOL area.
but a lot of people aren’t/don’t.
I remember having to spend $20 a week on groceries 15 years ago. Now I’m spending ~$30. It’s disgusting.
… You’re spending $30 a week on groceries? That’s it? Are you being facetious, or have you been living on ramen, beans and rice for 15 years?
I spend about that if you exclude my splurge on Soylent for breakfast (substitute oatmeal, for example). I eat wraps that are 90% veggies for lunch and the premix Birdseye veggie/chicken dinners where I can get 2 meals per bag.
Probably not buying pre processed garbage. I feed a family of 3, well not some rice and beans every night shit, for about $35 a week and I’m not out looking for ways to stay inexpensive.
wish. : /
Wait, what? If you’re hungry, nutritious food (canned beans and such) will cost less than $5 a day. And that’s without cooking. If you can boil water, you can save some money and increase the variety of food available to you.
When milk of $5+ a gallon in most of the country, the solution isn’t as simple as “cook at home” for those of us with a family to feed. Young Americans don’t mean just 24 year olds.
I have a toddler and cook at home. What exactly is your point here, I don’t understand. Rice, beans, meat, produce call all be had for cheap. Milk IS one of the more expensive foods but it’ll last two weeks, is probably a poor example when you can also buy 2lbs of pork for $6.
Ah yes, surely the issue must be that people aren’t eating enough poverty meals of canned beans and rice. Meat is obviously only for wall street investors
Sardines are a great (and cheap!) source of protein and they’re super nutrient dense. Tons of vitamin d, b, fish oils. This has little to do with the topic at hand, I just got turned onto sardines as someone that wrote them off my entire adult life and they’re awesome!
On topic though, I love threads like these because we get to see all of the middle/upper middle class nepo-babies come out with their advice on how to manage living with a level of poverty they have clearly never experienced. Always such a special time.
they also have a fuckload of sodium
I’m so excited for my new all-canned beans diet.
What if I told you that you don’t need the processed foods you’ve been eating your whole life? Shocking I know.
You “I can’t afford food” Them “here’s food you can” You “no not like that! I need muh Doritos to be happy like the commercials tell me!!”
Most people in Mongolia eat one thing their entire lives and are fine.
I buy vegetables and meat mostly. are those luxury foods now? Last I checked that was just food.
fresh food is a luxury in the usa, yes.
i was grew up in a bottom 50% household. most of my childhood diet was sugary snacks, canned/boxed foodstuffs, and frozen meat/vegetables. fresh food was largely reserved for holidays. my mother used to spend about 60/week to feed a family of four, and this was after coupons and in the 1990s
