The Money with Katie Show A Hard Look at the Economic World Gen Z Inherited
Sep 11, 2024
Dive into a gripping debate between Baby Boomers and Gen Z about economic struggles. Explore how housing, education, and wages have transformed over decades. Discover the staggering rise in housing costs and student debt impacting today’s youth. Delve into the dynamics of child care expenses and the growing wealth gap. Contrast past financial challenges with today’s landscape and find surprising parallels between generations. This thought-provoking discussion sheds light on the new economic realities facing young adults.
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Housing Affordability Comparison
- Servicing a mortgage today is almost as expensive as it was for Boomers in the 1980s.
- Down payments now take 50% longer to save, and houses cost 40% more per square foot.
Evolving Value of Education
- College degrees are more valuable today, income-wise, than for Boomers.
- Those lacking degrees face a steeper job market disadvantage now.
Degree ROI Then vs Now
- College was much cheaper for Boomers, but offered less income gain compared to now.
- Today, one year's median earnings difference can theoretically cover a cheap degree's cost.