Quote:
Originally Posted by CaramonLS
Bah, rants of lame old men around here.
I'll talk about one reason specifically why the younger generation is pissed off and should be upset about the way things are going:
Entry level salaries for University grads are not rising proportionately to cost of living, while CEO's salaries are increasing exponentially.
Think about the cost of a house. In the 80's, you old farts probably bought your brand new baby for 2-3x your base salary (my father personally made 35K and paid 67K for his house).
Now, us on the other hand are looking at 4x-5x the amount on a normal entry level salary and that's for a ****ty condo. More people than ever are getting stuck in the renter's rut, unless they are married / have generous parents.
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If your dad was making 35k as a newcomer to the workforce in the 80's he was making WAY more than average, I suspect. 35k was an entry level IT salary 15 years ago when houses cost 100-120k (so still at your 3x pricepoint). On top of that, he would have been paying absolutely crippling interest compared to what a first time home owner with limited equity is looking at today.