Oddbean new post about login | logout @90aca61c A paper released by the U.S. Census Bureau reveals that a smaller share of Millennials are getting married, compared to previous generations at their age, due to economic concerns. Labor force participation, wages, poverty and housing costs and living arrangements are strong factors causing young adults aged 18 to 34 to delay marriage. https://www.nawrb.com/millennials-are-delaying-marriage-because-they-cant-afford-it/
@7502a322 I know millennials and ya theyโll give you every excuse in the book of why they donโt want to marry. Marriage actually makes things financially easier, not more difficult. People still got married during the Great Depression. And people still get married in 3rd world countries where standards of living is much much lower. And they actually have less reason to get married because they canโt survive independently otherwise.
@90aca61c number one reason for divorce? Finances Millenials have lived through two (2) "once in a lifetime" financial crises. Average new car note is 7 years, average new home mortgage is 30 years. Young people are paying more for the same and paying for longer.
@90aca61c also, 50% of marriages end in divorce. Of those divorces, 90% are initiated by college-educated women. As a young man, would you marry a college educated woman with those odds in this economy?
@7502a322 now you are getting closer to my line of thinking. I think divorce numbers being high and marriage rates being lower are a cultural issue and much less a financial issue. Actually I donโt think it is a financial issue at all. Itโs an issue with the new dynamics of finances within a marriage. Even well off married couples are getting divorced at a higher rate over finances.
@90aca61c young American women have, largely, been ruined. They have unrealistic expectations of marriage and life in general. Largely fuelled by social media, IMHO. It's not enough for three months of salary to buy an engagement ring anymore, you also need a high status job, car, home, etc. "What? I'm not living in an apartment, what if my friends/followers/etc. saw me living here?" The country, as a whole, was better when it thought of itself as a Christian nation.
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@7502a322 my folks didnโt wait until they could buy a home. And when they got married they literally put their tv set on cinder blocks and laughed about it. They didnโt put their hand to their forehead โwo is meโ. They actually enjoyed persevering and never feared the fact that they could only own one vehicle at times. They new they could make it and build a life eventually as long as they didnโt mess things up for themselves. They did fear bad luck because thatโs always a factorโฆ
@90aca61c I didn't wait until I could buy a home either, but I do have kids who are going to inherit this shit and I'm not going to sit here and lie to them that the deck isn't stacked unfavorably against them. And it doesn't have to be this way.
@7502a322 I think if your kids have integrity and work hard and provide value and actual profits for companies, they will excel considering their competition. I just think the housing market is scary because I think it is hyper inflated and dangerous for young investors. I have kids too. Iโm extremely concerned about the cultural breakdowns that are occurring and this quiet quitting and passive aggressive nature causing productivity and reliability to plummet.