I don't have that much money. I think I'll have to work for 10 years to have enough money to buy a car. It's not worth it. I only have enough money for food and clothes now. I won't save. I don't have enough money to do that.
In America yes because the boomers took everything that wasn't locked down and then pulled up the ladder of opportunity behind them while giving a big double fingered FU to everybody beneath them. The only schadenfreude I take from it is that when the boomers die off it's going to be the largest intergenerational well transfer the world has ever seen!
From what little I remember of Turkey, your demographic is tremendous and because there's so much surplus labor wages are ridiculously low.
Yes, or at least its more difficult to do it compared to the baby boomer generation.
There are plenty of statistics showing how salaries went up due to inflation, but costs for housing, cars and everything else went up much much more.
So every old fart complaining how lazy the young generation is, is just wrong. The young people have to work ten times as hard to earn the bare minimum the old generation had at their age.
I agree with you so much, even a motorcycle dream will not come true for me anymore, this is very humiliating.
Buying a house or car has indeed become challenging for many in Generation Z due to rising costs and economic factors. While it may seem daunting, consider setting small, achievable financial goals and exploring alternative saving strategies. Renting, car sharing or public transportation might be practical options initially. Look for ways to increase income or reduce expenses over time. Building a budget can help you better manage finances and gradually work towards larger financial goals. Remember, progress may be slow, but with careful planning and persistence, it is possible.
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You're only 20. Of course you don't have much money.
(The following is US prices. I have no idea about prices where you live.)
All these people talking about boomers. I see no reason why someone today can't do the same as we did 40-50 years ago. The big difference is that now young people set their sites WAY higher than we did before. They buy all kinds of stuff they don't need, then complain because they don't have any money.
You are way too young to even think about buying a house, let alone actually buying one.
As for a car, go find a car for under a thousand dollars. I assume you are living with your parents. You should be able to save that in a month or two. If you are patient and lucky, you might find one for $500-600.
If you want to get an apartment, you only need the bare basics.
Get some kitchen stuff at the thrift store. You should be able to do it for under $50, $100 tops if you want to splurge. If you really want the bare basics you should be able to do it for under $20.
Get a cheap or free used mattress and throw it on the floor with no box spring or frame. Get a cheap or free chair or couch. Maybe throw in a few other free or cheap pieces of furniture. A cardboard box works perfectly fine for a night stand or end table.
I'm not sure where some people get the idea that people in the past lived in luxury. Young people today live in FAR more luxury than in the past. Off the top of my head I can't think of a single person who bought a house before the age of 30. Most had never bought a new car by that age.
What I described above really is how we did it. And yes those prices are adjusted for inflation and current knowledge of what cheap stuff costs at thrift stores and other places.
You can't expect to be rich and have all kinds of luxuries right out of the gate.
You can't even see how paternalizing that is, can you? Your omissions are ASTOUNDING
The price of a car in Turkey is at least 20 thousand dollars and we work with TL, labor is very cheap, I have to work for years to save.
From what I hear coming from youngsters, and even above, from the early 20-30yo range, the traditional milestones aren't very appealing anymore.
The former plan: study-car-job-marriage-babies-property-retirement sounds mostly off, either because its appeal has been questioned, either because it's not economically viable. Or both.
Since I also questioned this plan early on during adolescence, I can't say it's a bad thing when people adapt to the times they live in. Better that than clinging to impossible or outdated expectations
I can't afford it, it would take me 10 years to save up, so I don't.
But do you even need it?
Yes, there are too many people on the buses, there is a smell of sweat and harassment, I need a motorbike.
hmm I understand the reasons, motorbike isn't cheap indeed, but a motor scooter is much cheaper than a motorbike, what about that?
To me the cost of living is bad (house market is crap as its been since George Bush Jr era), price gouging is rampant (Kroger admitted to raising egg prices independently past inflation rate and won’t stop unless USA approves their company merger to become a bigger more corrupt monopoly induced entity), and it seems like there is pressures on society telling us “Gen Z will never own X & Y & Z” sort of thing…. Social Security cuts thoughts looming over my head, moving the retirement age just out of reach, and attempts to cut Union labor since Reagan…
There is one politician who is actually promises a fix while the other goes on & on with the broken promises of 2016 -> 2020 and delusional ramblings of a senile old out of touch white man. I’m voting for the one promising fixes that actually have substance. Hopefully she’ll make dreams into reality for all Gen Z like expanding Student Loan Debt Forgiveness.
🙌🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻💯
I don't know about the Turkey age pyramid but in the usa boomers are aging out of, to be crude, life. So historic amount of money is going to shake and shift for the foreseeable future.
With As much influence usa economy has globally im optimistic of fundamental factors in favor of everyday people. Probably over optimistic but a step forward is a step forward.
So buying your first property is only worth it if you want to stay put for 20 plus years. Is that what you want to do? Talking out my ass here so sorry if I'm completely off base but Turkey has decent relationship in the E. U so it's possible to say fuck it go anywhere else and lean into a life you want to live. It's scary as fuck but that's what makes it all the rewarding.
I don't see what the issue is. There are subcompact cars for example from Kia with an MSRP of roughly $21 K brand new. With a little negotiation you can easily walk off the lot with that for $19K or less and that's a brand new car. Many people buy used cars for the first car generally for a couple thousand dollars. Minimum wage has gone up significantly over time. What are you at now like $15 an hour. A minimum wage job is grossing $30K a year. If you saved everything you made for 1 year, even after paying taxes/medicare you could get a brand new car with decent fuel economy, pay for your auto insurance for the first year, and probably all of your fuel for that year just for 1 years work at a minimum wage job.
To put that into perspective minimum wage jobs when I was in high school paid $5.25 an hour and a low in car like a Toyota Corolla had an MSRP of about $14-15K. Wages for minimum wage workers have tripled but cost of low end cars have only risen 50%. You have it so much easier today than Millennials when it comes to getting your first car. Housing on the other hand is still ridiculous for most people past Gen X.
The minimum wage in Turkey is 17 thousand TL. We cannot live on dollars. The worst price of a car is 500 thousand TL. It is a piece of cake. Do you think it is worth it to buy a car? If I were to work abroad with dollars, yes, I would save money, but it is not worth saving in Turkey.
The minimum wage in the USA I was talking about is the hourly wage. It's generally something like $15 an hour now, which works out to 513.75 TL per hour, 20,550 TL per week, or roughly 1,027,500 TL per year. You didn't define a time frame for your minimum wage so I'm guessing it's weekly or monthly.
What I have noticed with Generation Z is most of you don’t work full time hours and think working 24 hours a week is enough , so to be able to buy a house or a car , you have to work 40 hours or more and save some money , Sometimes you have to work 2 jobs just to make ends meet , I know it sucks but that’s just the way things are in this fucked up society we live in , unless someone is going to hand you free money then that’s a different story but nothing is for free , you have to work your ass off and save if you want to achieve things. If you are still living with your parents’ take that opportunity to save so you can buy a car or a house one day.
I have a car I'd sell for $1000. looks awful, but runs. but that's USA, and rare. Usually they are $10,000+. I hear people in Europe do the same... buy older cars that were maintained. Otherwise are too expensive. I know Gen Z gthat is doing very well in USA, but don't know that many. Some have hard time.
I think some do/will and some won't. A lot of it is based upon your parents what they could give you and how helped you get started and your environment.
Kids around me are driving cars more expensive than mine.
I do hear the costs of housing are more challenging for those just starting out. Luckily my wife and I are in our 2nd home and are in the process of just paying it all off and being debt free.
We sold our first house for $200,000 in 2019 and bought our current home for $300,000. Our old home is now listed as having a value of 293,000 and our current home is valued at 413,000. All that in just 5 years.
We live in the suburbs of the Midwest. I know the pricing in some big cities is crazy now.
idkk how it is in turkey but in the US it's not a dream to buy a car... a house kinda lol
i worked all of 11th and 12th grade saving up for my car and was working 30 hours a week. could've gotten it sooner, but i help with paying some of the bills and there was other stuff too
A house. Most people get a mortgage they spend 30 years paying off, but the money you spend on a mortgage you will spend on rent anyway.
Often people finance a car. Most people's first cars are 2nd hand or 3rd hand maybe 5-10 years old. Under a 100,000 miles on the speedometer, under 200,000 if its a diesel car. I miss my old diesel vw bora.
Pay yourself first. The first item on your list each week should be to save some money - put aside a few TRY or USD each week. THEN, spend only what you need to live. Don't forget that the "Boomers" were the offspring of a generation that lived through the Great Depression, and we were taught "survival on a shoestring". My grandfather for example, had a curtain store. After the Depression, he started selling greeting cards and penny candy, because that's all that people could afford. The curtains could wait, but people would still get a card for those in their lives.
The younger generations have had much of what they need and want handed to them for little effort. This just won't work. Saving requires planning and dedication to your own cause.
It’s an attainable dream, but it takes careful planning and discipline. You must work full time and invest in a cautious and intelligent way for years. I just turned 30 and I have a lovely lexus, and within 3 years, even if my income does not increase, I will be ready to purchase a single family house. Not in my city, because foreign investors have destroyed that option, but an hour or so drive from here is very doable.
People just need to be more frugal. You don’t need a new car, it’s a waste of money, research a reliable model and get a used one. My car is over a decade old and she’s absolutely beautiful. Less than 70k on the odo, properly maintained she’ll run for another 20 years easy.
I live in a very small house now so that I can save money and buy the one I want in 3 years. It’s so tiny, I don’t even have a dinner table, but it’s a functional office and living space. We must make sacrifices now to ensure the future we desire
Believe it or not, everyone starts out the same way you are. You have to work hard and move forward in life. Hard work pays off. Giving up is where you will never get ahead.
Yes it sucks right now, just never give up.
You'll see...
No. Most just want to live on Mars...
It's better to have good friends, than just "things". A car and house are good only if you have a good network to enjoy them with. Being single, with no friends you're going to kill yourself long before you get to enjoy your car or house.
Sure it might be tough now, but if you keep yourself honest and positive, then things will open up for you.
But even rent is getting expensive AF that it's becoming hard to even live by yourself. Doesn't seem like a bright future ahead for many people starting out.
That's how things are more and more in the US as well. More and more expensive. So yes it is becoming more and more of a dream to to be able to buy a house for sure. Hell even renting a house is becoming too expensive. A car might be more doable even though that also is becoming too pricey.
No. You just got to work at it. I wasn't able to get my first loan till I was 27. Now I got net worth of a half million.
I have no idea how this translates in Turkey.
It is equivalent to 17 million
No idea about gen z since im pretty sure im in the millennial group. But i will be very car poor for the next 7 years as my only option to get a vehicle was to lock in on a new 2024 haul damaged vehicle, but she don’t have to look pretty she just has to drive. Over $1k monthly between car insurance and car payments. You’d think with all the new safety features would mean insurance is cheaper.
It’s hard enough for a lot of millennials like myself. Gen Z might have it worse unless you come from a rich family.
Not car. Not the house itself which can be built even with cheap materials, reused if needed. But the private property, yes.
And fuel, over 200% increase here from less than 10 years ago.
Baby boomers and the silent generation, are going to basically deplete social security. We won't get our own SS, when we get older. I'm a millenial
Another reason to vote for Harris policies!!
@DrPepper12 I mean, I already get SS, since im on disability, but, yeah, sure
Yes… sadly house and cars are unaffordable unless it’s made in china which will kill you when accident. Besides there are tons of plastic garbages floating around the ocean you will become a plastic woman in the near future. Sorry
u I'm not even sure who are the Generation Z... sorry, lol
Watch Dave's show and you will understand that gadgets, cars and stuff isn't even worth it. And please try to avoid using credit card as much as possible. It's an endless pit
I think it is the same everywhere. Everything is expensive. If you want a car, start with a good used one. Check if there are any government programs where you live to help people buy their first house.
I definitely sympathize, I look around even in the United States and I don't know how anyone is able to afford anything.
Economies ebb and flow. Nothing stays the same forever. Do what you can now, and you'll be able to do better later.
Definitely, it's a dream for me it feels so hard to achieve that I can't even be bothered about it anymore. I mean the average house here is £400,000
Depends if bank of mum and dad is paying dividends this year.
No. It just takes a better job these days. We are a service economy not a labor one anymore. So more skills = more $$
I am Millennial and I don't feel comfortable buying a house either on my own.
Well i don't think it's a dream you just have to make a few sound investments. I live in New York city and I own multiple properties. If I can do it you can too
It wouldn't just be a dream if Trump were president
In some areas it is a dream to be able to rent an apartment without a cosigner.
Everybody should already be on their own planet doing their own existences
It's part of the plans of the elites, the pandemic was just a planning stage
Saving money is always worth it. Just when you have good enough you will want to save more.
It’s dream for most generations.
Look like it especially a house in a decent area.
Im in the Z Generation and I don't think so...
A House definitely. I bought a car.
I still want a house
Probably
Unfortunately, yes for too many Gen Zers.
It's a dream for every generation now lol
Too expensive
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