I'd agree with the leveraging. That stuff is dangerous.
Especially the older "Techie-millenial losers" and Techie-GenX that would be loosing both income power and wiht falling assets moving forward.
One counter point would be that if you were making >$250k per year as a "Techie-millenial losers" and lost half of your savings things are looking good compared to your non-techy peers of the same age making <$100k. Even if techies go from $250k to average they will still be better off than their average peers. (it will hurt more because of lost dreams)
Agreed that GenX consistently gets hosed by following the selfish Boomer generation's policies (not talking about individuals).
Ohhh. I think this is where we differ in out words but agree in our thoughts.
"...the more people make, the more debt they have..." This would be what I think of when you earlier said "overlevered". I fully agree with you that anyone making big money but with proportionally large debt payments would be in trouble.
If you make big money with big debts and things get tight, that is bad news.
If you make big money with no debts and things get tight that is good news.
I know tech Millennials that buy Manhattan condos in cash with just their hiring bonus. If the price drops 50% it sucks but is not an issue. Like any group, some are bad with money and some are ok with money.
I'd agree with the leveraging. That stuff is dangerous.
Especially the older "Techie-millenial losers" and Techie-GenX that would be loosing both income power and wiht falling assets moving forward.
One counter point would be that if you were making >$250k per year as a "Techie-millenial losers" and lost half of your savings things are looking good compared to your non-techy peers of the same age making <$100k. Even if techies go from $250k to average they will still be better off than their average peers. (it will hurt more because of lost dreams)
Agreed that GenX consistently gets hosed by following the selfish Boomer generation's policies (not talking about individuals).
Ohhh. I think this is where we differ in out words but agree in our thoughts.
"...the more people make, the more debt they have..." This would be what I think of when you earlier said "overlevered". I fully agree with you that anyone making big money but with proportionally large debt payments would be in trouble.
If you make big money with big debts and things get tight, that is bad news.
If you make big money with no debts and things get tight that is good news.
I know tech Millennials that buy Manhattan condos in cash with just their hiring bonus. If the price drops 50% it sucks but is not an issue. Like any group, some are bad with money and some are ok with money.