A Boring Dystopia

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‘I cannot afford to live’: Gen Z is full of financial angst despite inheriting a golden job market (www.cnn.com)

submitted 7 months ago by return2ozma to c/aboringdystopia

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[–] SuperSynthia 57 points 7 months ago (2 children)

So this is an editorial with some data cited so I will attack it on those merits.

The job market is largely a dog and pony show. Companies have all the power in the world when it comes to good jobs. The “golden job market” is for low paying jobs that suck to do. Rates need to go up full stop.
They are correct in housing being a huge issue for both Z and Millennials. It missed the shot however for failing to identify corporate inclusion into the housing market driving up costs. Not to mention the parasite class known as landlords which has been a problem since the era of Lords and Serfs.
The inflation argument is a misdirection. Look at corporate profits. The capital class is literally bleeding the worker class dry, while also lowering the quality of service/products.

I could go on but I encourage others to actually read the article and form your own opinions. CNN isn’t as biased as Fox or MSNBC but they ultimately put a liberal (as in liberal markets) spin on the news they choose to report.

[–] T156 14 points 7 months ago

Also that housing is now an investment commodity, like stocks.

Why would anyone sell if they can just hold onto it and basically get free money, with maybe a bit of rent on the side?

Or just using it to store money safely in something that reliably appreciates.

[–] Son_of_dad 11 points 7 months ago

CNN is run by champaigne liberals who have no idea how regular people live