Not that you would paint the entire generation with the same brush, but there are a number of funny things about many boomers when viewed outside of the little world they created. I once had the generational differences described to me in a management seminar (by a boomer no less) in terms related to the Myers-Briggs Type Indicator system. The instructor identified boomers as being more extroverted, sensing, or some such garbage. I honestly lost interest from that point on because it seemed fruitless to try to compartmentalize an entire generation, much less a single person. So, the irony of the situation was not lost on me. A boomer, describing to me, in boomer terms, how they were different from others. How pathogenically self-obsessed.

It is pointless to try to compartmentalize an entire generation, there are too many exceptions. However, it is at least interesting that boomers, not having grown up in a “PC” required environment have learned that one important distinction… generalizations are well, generalizations.

I am sure that lots of X’ers and Y’ers have lots of expectations about life, but that doesn’t necessarily mean that they’re going to cry, whine, or even go bankrupt trying to achieve consumer nirvana (even though they probably will). The comments are better suited to a commentary on human nature more than a specific generation.

It is sad that more older people are going bankrupt faster than younger people (both in numbers, and percentages) especially since their age group should be at both peak earning and wealth years. So much for self-control.

Chuck

As a final note, it sounds like you have escaped the propensity to consume more than the average American. You should be applauded for that. Not being a drain on society is a good thing.

I wanted to comment on the bankruptcy issue. And I’m not talking about the classic boomers with the Mcmansions you mention above. I’m talking about the average folks in their 50s. They file for bankruptcy because they are finding either low paying jobs or no jobs. Companies prefer to hire folks under 40. If you do not believe this is so, then I think you will be in for a big shock when you hit your mid 40s. For the generation before the boomers, it was not usual to start a job at high school and retire for it. I suspect that many boomers expected to do the same.

In addition, demographics are shifting. No longer are we having 3 or 4 kids. Most twenty and thirty somethings are planning on having one or at most two kids. When this occurs, the turnover rate in housing should be 1 to 1. When Social Security started, the rate was roughly one percent per worker. Now we are up to 7.65% with Social Security and Medicare…money many of us will never see in our life.

Is there a generational gap? Absolutely.

Dr. Housing Bubble
http://www.doctorhousingbubble.com

Just like a bunch of his other RE cohorts.

I literally have a higher net worth than him. I save, py my taxes and buy stuff that I can afford with my flawless credit history all the way back to age 18. How others get in so deep, I have no clue.

All I can say is the Boomers look awfully stupid and foolish to Gen X and Y’s. We are much more financially savvy and have access to endless info about finances. I still love the survey that notes Gen X’s don’t want the McMansions and see no need to excess space. What is gonna happen when the Boomers die off? Wooohooo!! Cheap castles!!

“TED LUI (CA assemblyman) and others on the California banking and finance committee passed a proposal Monday to use money from the Affordable Housing Bond to bail out homeowners who were “victims” of “predatory” financing and can’t make their mortgage payments. CALL Ted Lui’s office, talk to Tiffany or Mark, 916-319-2053, and call every assemblyman on the appropriations committee (that’s where it goes to a vote next), and call your local state assemblyman, tell them you don’t want your hard-earned tax dollars going to bail out buyers who overpaid and didn’t read their loan documents, tell them the affordable housing bond money was to be used for affordable housing not for bailouts, call or don’t complain when it happens!”

Here’s a response that one poster received after calling Mark…

“I gave Mark every completely rational argument I could give, not screaming or yelling, just speaking in a controlled, professional voice, against this bailout idea…all he could counter was “that’s your opinion”, “I’m sorry you feel that way”, “we’ll just have to agree to disagree so there’s no point discussing this”, and he just kept going on and on about how many people were “victims” of “predatory” lending and that was what this was trying to correct. No explanation as to how such lending was predatory, why the ADULTS who signed the loan documents were not responsible for their actions, why it is my problem as a taxpayer, nor why we should reward those alleged predators by making payments that didn’t pencil for the borrowers to begin with. I hope every one on this board calls him and every other assemblyman you have time to harrass, I mean contact.”

Sounds like a prick, but I’m going to call him tomorrow. Might not help, but it certainly won’t hurt to give this idiot a call.

Buy now, pay later. What in the world could be wrong and un-American about that idea?

The U.S. dollar has never been weaker, so everyone who were dumb enough to loan our non-manufacturing,unproductive worker economy U.S. dollars years ago are really getting short-changed big time in 2007! And our response? Loan us more money (pretty please with sugar on it)!!!

What? You mean borrowing money won’t be so cheap forever?

Aw come on! That’s not fair! We’re entitled! Sausages! We want our sausages!

Sort of off topic regarding your last clip, but I just loved the way Charlton Heston would keep saying “Dr. Zayusss” all the time in the film.

Since we are surrounded by larger population grouping I get marginalized all the time.

When I went through school they were yanking funding from colleges since boomers were laid off in mass.

Now, buinesses are going to tank and pensions are going to be a big mess. I predict they marginalize the value of working hard by higher and higher tax rates.

Born at a bad time.

The boomers… the sense of entitlement is over whelming. Its disgusting. Anyhow, they made decisions to marginalize the future and will try to use their volume of votes to force solutions. It will be UGLY.

As noted before… working is more and more of a marginal benifit.

For what its worth about us genx geny types. Learning is a function of motivation, effort and information. You can go out on line and do better investment research than you get from going on autopilot with a broker/fund player anytime. if you buy a good flight simulator you can learn a hell of a lot about flying a plane or the space shuttle. Simulators have just become pretty cheap. Its a low cost way of getting information out.

Hence usefuull and wonderfully informative blogs like this one.