[BrandonM]

Did more millennials also opt to live in city centers, which had hollowed out during the previous generation? You can still buy suburban and rural housing for $1xxK, or even five figures if you’re willing to compromise.

I just looked, and room+board at OSU costs $13,352 per year (http://undergrad.osu.edu/cost-and-aid/basic-costs). Adjusted for inflation, that’s cheaper than it cost 20 years ago. Of course, unsubsidized private or out-of-state schools will cost far more. Many fewer people went to college 40 years ago, too.

The health insurance premiums are higher now, but the coverage is far better. Everyone can have guaranteed health coverage via ACA, subsidized in cases of financial hardship.

Free childcare is still available for many of those who live close to family. Maternity and parental leave and FMLA laws have only improved. Free public schooling generally starts earlier. More wfh jobs are available today than ever before.

My point in all of this, of course, is that I suspect a lot of these differences boil down to optionality and different decision making. I don’t think it’s reasonable for our generation to pursue a more exciting, leisurely, and expensive lifestyle than our parents had (prestigious school, expensive city, travel, white collar job, moving away from a childhood home, delayed commitment), then resent that generation’s boat and lake house.

Can you have it all today? For most, the answer is still no, just like it always was. I suspect that more people than ever before can get pretty close, though, leaving those who can’t even more resentful about it than in the past.

BTW, with one month of SF rent, you can buy yourself a nice used boat. A couple years of that rent will buy you a simple lake house.

[0xB31B1B]

Rents, education, childcare costs, and healthcare costs have been rising everywhere, not just in city centers. OSU is way more expensive than it was 20 years ago. My mom graduated from OSU in the 80s and paid for her self with a summer job working retail, you cannot do that now. Most flagship state universities now cost 35k+ for in state residents, and they used to cost 5-8k for in state residents. They have increased tuition expenses because the state legislatures cut funding during the great recession. Today a much larger portion of the cost of state uni education is borne by the student and less is borne by the state. Maybe 20 year ago, for some people it made financial sense to "opt out" and move back near your parents, and with the rise of remote work, it might make sense today for a small slice of workers. The large majority of millenials do not, and never will work at jobs that can be done remotely. They include huge industries like medical staff, retail, home healthcare, food service, etc.