I think we often forget that the world we live in changed. My parents bought a house they could afford because it was on the far edge of the city and was 1100 sq ft. The city then had a pop of 300,000, and distances weren't that great in miles or time. Today that starter home on the periphery is many more miles and minutes further out because my city pop is now 1.3 million. Back in my parents day they considered toronto but everything was more expensive there so they chose ottawa as more affordable. Today's children want things for their parents costs but to do that in a city 5 times larger. My teen dreamed of living in NYC but realized she couldn't make a go, there , given the competition from others earning more. So settled on Toronto. When she realized there was still a lot that was unattainable there, she moved to cheaper montreal. How many kids today want their parents costs but in a much larger and more expensive city, even if that city is exactly where they grew up in? The world changes around us, and we must adapt to those changes in economic growth, aging, skills, etc. Migration for economic reasons is the norm. We've brought up a whole generation on the false mantra of have whatever you want, live your dream, pursue your passion, but forgot about being useful to society and earning commensuratly
Mike Moffat, I think you are being too dismissive of Michael Green's 140k poverty line analysis. Calling it goofy without explaining why is insufficient. Green does excellent analysis and MM podcast would benefit from studying how it's done.
I think we often forget that the world we live in changed. My parents bought a house they could afford because it was on the far edge of the city and was 1100 sq ft. The city then had a pop of 300,000, and distances weren't that great in miles or time. Today that starter home on the periphery is many more miles and minutes further out because my city pop is now 1.3 million. Back in my parents day they considered toronto but everything was more expensive there so they chose ottawa as more affordable. Today's children want things for their parents costs but to do that in a city 5 times larger. My teen dreamed of living in NYC but realized she couldn't make a go, there , given the competition from others earning more. So settled on Toronto. When she realized there was still a lot that was unattainable there, she moved to cheaper montreal. How many kids today want their parents costs but in a much larger and more expensive city, even if that city is exactly where they grew up in? The world changes around us, and we must adapt to those changes in economic growth, aging, skills, etc. Migration for economic reasons is the norm. We've brought up a whole generation on the false mantra of have whatever you want, live your dream, pursue your passion, but forgot about being useful to society and earning commensuratly
I loved your discussion. I feel that the element that is missing in your conversation is the impact of aging population in housing, health care and government budgets. I write about achieving the middle class dream. I touch upon all these topics. Please Check my substack https://substack.com/@middleclassdream?r=6417jn&utm_medium=ios&utm_source=profile&shareImageVariant=image
Mike Moffat, I think you are being too dismissive of Michael Green's 140k poverty line analysis. Calling it goofy without explaining why is insufficient. Green does excellent analysis and MM podcast would benefit from studying how it's done.