Quote:
Originally Posted by westopher
\As usual, the younger generation that wants to live in a city with job prospects to actually afford this, gets fucked by the increases while the older generation profits. There has to be a breaking point as the generation behind us has no chance.
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The only saving grace is that
on average, the older generation has accumulated so much wealth that even by virtue of owning an average house, they are likely to leave something to their kids.
This does no favours to those who that's not true, and it's particularly tough in Western culture where it is not often that wealth is passed down until death. (ie if my parents pass away in their 80s and I am already 60, then the money is pretty incremental at that point whereas if I got less money when I was 40, that would make a bigger difference).
-Mark