“By many metrics, Gen Z is doing better than past generations“
….
According to an analysis from the US Federal Reserve, the median 25-year-old zoomer made over $40,000 a year in 2022, after inflation, taxes, and transfers are taken into account. That is 50 percent more than the typical boomer earned at the same age.
Wealth data tells a similar story. As of 2023, Americans born between 1990 and 1999 — in other words, young millennials and older zoomers — had a median net worth that was 39 percent higher (in inflation-adjusted terms) than previous generations boasted at the same age.
Likewise, the median wealth of Americans under 35 in 2022 was the highest on record.
Generation Z is doing well economically. AI could change that. | Vox
Gen Z influencers often have little or no grasp of history: How to show you know nothing of history without saying you know nothing of history – Social Panic
As I have noted on this blog – with many more posts already in the upcoming queue over the next six weeks – many people compare today to an imaginary past.
A simple illustration – in the 1960s and 1970s, new homes were, on average, half the size of today’s homes, and had 1/3d the square footage per occupant as today’s homes have. In the 1950s and 1960s, not only were homes small, but the typical home had 1 bathroom and a single car garage and was poorly insulated if insulated at all.
When they compare home costs from the 1960s to today, they leave out that the homes back then have little in common with today’s homes.
Today’s expectation is they should be able to buy today’s average 2400 sq ft home with a 2-car garage, 2.5 to 3 baths, insulated 2×6 wall construction and triple paned windows – for the same price/income ratio of the 1960s or 1970s that bought a 1200 sq ft, 1 car garage, 1 bath home.
This has warped entire generations into believing falsehoods and using those falsehoods to launch intergenerational attacks.
Social media becomes an amplifier as those who know nothing of history then share this nonsense widely on TikTok, IG and X.
