Numerous
articles in news and commentary sites lately have reported the difficulties
Millennials and Zoomers are facing in their attempts to establish independent
lives. High rents and college debt are cited as serious drags on them. A
minority is very successful indeed almost directly out of college, but the
majority struggle. I recall similar articles in past decades about Boomers and
Xers, but that is not to deny actual changes in the challenges faced by the
young in the 80 years since World War 2. At this stage in my life, the issue in a personal way is largely academic, but I do see friends and relatives affected by it.
The
immediate post-war period was a remarkable anomaly. After a decade and a half
of desperate times, members of the GI and Silent Generations created for
themselves a civilian economic boom in the US and most of the rest of the West
that set an unprecedented standard of widespread (not universal by any means,
but widespread) middle class prosperity. They started adulting (a word that
didn’t exist at the time) early; it doesn’t seem to have occurred to them to do
anything else. My parents were typical: my dad was discharged from the service
in 1946, he and my mom married at ages 21 and 19 in 1947, and they built their
first house (a suburban ranch) in 1949. A loose regulatory environment for land
development resulted in a construction boom that made housing 1945-65 as
affordable as it ever had been or has been since.
![]() |
| My parents at work on their house. 1949. |
Each generation since then has launched a little later than the one before. (They are Boomers 1946-64, Xers 1965-79, Millennials 1980-94, and Zoomers 1995-2012; the oldest of the upcoming Alphas won’t be legal adults for another 6 years.) Each generation blames the one before for shutting economic doors on them (e.g. through zoning and licensing) and each in turn blames the one after it for being laggards. There always is some truth in both accusations, but just some: the matter looks more complex, unsurprisingly, in detail.
Ray Charles – Busted

.jpg)


