This is the total cop out that gets boomers the bad wrap. This ridiculous comparison right here, as if that high interest rate is ANYWHERE NEAR the equivalent of what cost of living is today. It's facts not opinion. The economy and economic set up was FAR FAR BETTER then, even under Carter and high rates because every single other thing wasn't insainly expensive. This false comparison is boomers telling others "we had it just as rough now buck up" and it's total bs, and all while the rest of us are paying for your social security knowing we won't ever see it because of boomers politicians squandering it. Boomers had it BY FAR the easiest of any generation, and they screwed it up.I bought a small 15 acre piece of land in the mid 80’s financed by double digit interest. Sold it a couple years later for a profit to use as a down payment on our first house. I remember the house was around $130,000 at a 8-9% interest rate.
My in-laws were telling me how a couple decades earlier their first home was less than $30,000 and they had to sacrifice to afford it.
Every generation has seen difficult times. It’s how you respond to difficult times that makes the difference.
I'm a gen X so I don't like either and i saved and have things paid for ect.... I have worked my butt off for 30 years now so I also understand this "I'm entitled to x,y,z" attitude the younger generations have and how impractical and unrealistic it is in the real world too. This thread is Boomers asking why they are looked at the way they are and this is why.