Britain’s oldest national daily newspaper, The Times, recently posted an article that received an immense public backlash online. “Baby boomers have some advice for millennials struggling to buy a home: cancel the Netflix subscription and stop ordering takeaways,” states the passage from the article. The article, which was later shared on The Times Twitter account, attracted much attention from millennials who believe that being unable to afford a house has nothing to do with Netflix or takeaways.
Image source: thetimes
According to a study published in the article, more than half of baby boomers born between 1946 and 1964 believe that young people’s “luxury” lifestyle choices (takeaway coffees, food, expensive mobile phones, Netflix, and foreign holidays) are to blame for millennials’ inability to afford real estate.
But that’s far from the truth. Most millennials are renters, and nearly half of those aged 18 to 34 are rent-burdened, meaning their rent takes up 30% or more of their income. Because their rent burden is higher than that of previous generations of the same age, millennials have less money left to save for a down payment. That’s around 63% of millennials who have no savings for a home down payment. This indicates that the rent burden slows the transition to homeownership.
People online were disappointed by a relatively misleading article and statements far from reality. Below, look at some of the most accurate replies people tweeted back to the national daily newspaper. What’s your opinion on this?
More info: Twitter
#1
Image source: jkass99
#2
Image source: FiascoNo42
#3
Image source: ljmontello
#4
Image source: LaurenWalshArt
#5
Image source: harlequinxgirl
#6
Image source: tonyposnanski
#7
Image source: no_goblins
#8
Image source: cherrizard
#9
Image source: femmissgeek
#10
Image source: KarlreMarks
#11
Image source: WillumG
#12
Image source: mrsslippy
#13
Image source: thekaraverse
#14
Image source: skyblue1967
#15
Image source: everysongsung
#16
Image source: AnandWrites
#17
Image source: Snorkyno4
#18
Image source: AlsoKnowAsRed
#19
Image source: inobscurity
#20
Image source: cress_cd
