this post was submitted on 20 Jul 2023
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Asklemmy
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I know a lot of young people these days that have to live in crowded share houses because there's nothing else they can afford in the area where they work, and still 70%+ of their income goes towards rent and board.
Where I'm from, the cost of living has skyrocketed compared to when I was starting out, but the wages haven't changed. I've benefited greatly from that due to capital gains, but it makes it a lot harder for Gen Z to achieve the same thing, even if they do scrimp and save. I can understand people being demoralised and living for today instead, as it seems impossible to improve your position by much.
Population has also exploded. Maybe not so much in US but Asia for sure.