I don’t understand this argument. Genuinely. I can name a place just North of Nashville that will hire anybody who can weld (MiG and simple arc) right now at $17 per hour as a starting, probationary wage. Within six months you’ll be made permanent and, if you are willing to take on some of the more difficult jobs, be at $20 an hour. They can’t keep people so getting hired is easy even if you just have very, very basic welding skills which are extremely easy to come by. This isn’t something that requires years of school and a ton of money.Millennials want these cars but unfortunately we're not in the financial state to be able to afford them.
It isn’t just one place. I know of a few places offering similar work in the Cincinnati area and which pay slightly better than the Nashville locale. And this is just in one industry. My experience is that a goodly portion of more recent generations don't like hot or dirty work and they don’t like to work overtime. That doesn’t cover everyone, but you can paint with a much, much broader brush here than in prior generations in my experience.Well if you know of a place looking for good help then everyone making less money than they need is obviously lazy or at fault in some other way.
AndI think this speaks to the same problem. We are encountering younger generations with very different expectations regarding how hard and how much they will be expected to work to achieve a lifestyle similar to what their parents had. In larger numbers than prior generations these people are deciding that they want to work less, and work less strenuously, but they still want what mom and dad had. So, the financial community is adapting to accommodate, and people who are often already choosing to make less money are placing themselves deeper into debt by taking out loans with worse terms buying product that they can’t afford. You can’t expect to achieve more on less effort. It just doesn’t work like that, pun intended.That said, the length of auto loans has grown substantially over the past decade as fewer and fewer buyers are able to make the monthly payments of shorter loans. Well over half of new car buyers are in loans longer than 72 months. When people have to take on that kind of debt to buy a new vehicle then the purchase of a second (new) toy car for weekends isn't a viable option for many buyers.