<story><title>Fed Says Millennials Are Just Like Their Parents, Only Poorer</title><url>https://www.bloomberg.com/news/articles/2018-11-29/fed-says-millennials-are-just-like-their-parents-only-poorer</url></story><parent_chain></parent_chain><comment><author>iagooar</author><text>It&amp;#x27;s funny how this &amp;quot;generation&amp;quot; thing only quite exists (as far as I know) in the English-speaking world. There is no such idea of generations of people where I come from. It&amp;#x27;s hard for me to even grasp the idea of it. Who draws a line between generations and why? People do not stop being born, nor do they magically change because they supposedly belong to an imaginary generation.&lt;p&gt;Am I missing something?</text></comment>
<story><title>Fed Says Millennials Are Just Like Their Parents, Only Poorer</title><url>https://www.bloomberg.com/news/articles/2018-11-29/fed-says-millennials-are-just-like-their-parents-only-poorer</url></story><parent_chain></parent_chain><comment><author>esotericn</author><text>I think the term &amp;quot;poorer&amp;quot;, and the monetary analysis done here, is too high level to extract real meaning.&lt;p&gt;The average young person&amp;#x2F;couple that I know are able to do and buy far more than their parents (e.g. eat out, order takeaway, take holidays, go to bars, buy things for hobbies, buy clothes, ...).&lt;p&gt;They just don&amp;#x27;t own property and have no path that leads there.&lt;p&gt;In some sense you could say that they have higher incomes whilst having lower wealth, but that doesn&amp;#x27;t really capture it.&lt;p&gt;Housing just went bonkers which makes retirement impossible.</text></comment>