08/08/2026
I am so over the tired narrative that millennials are lazy, entitled, or just struggling because we buy too much takeout and scroll on our phones. I do love Gus’s as much as the next guy, but let's actually look at the math and the economic landscape before pointing fingers at an entire generation.
Every dollar we earn is hit multiple times. We pay income tax on our earnings, sales tax when we spend them, and ongoing property taxes on the assets we work so hard to buy. That kind of robbery is nothing new, but total property tax collections across the nation have climbed by over 300% to 400% since the 1980s, meaning buying a home is no longer just about saving for a down payment—the annual taxes and holding costs alone can feel like a second mortgage payment. Add in vehicle registrations, localized fees, and capital gains, and we are constantly paying taxes on money that was already taxed.
While previous generations point out that nominal wages were lower decades ago, the cost of living was far more manageable relative to income. Today, inflation has completely outpaced wage growth. The house-price-to-income ratio has nearly doubled since 1980. In the 1980s, a single median income could often cover a home mortgage, a dependable family car, and a solid quality of life. Today, even dual-income households with professional degrees struggle to qualify in many markets. On top of housing, practically every essential baseline of living over the last 20 years has skyrocketed—we've watched higher education tuition and student loan debt double, health insurance premiums and out-of-pocket medical costs triple, childcare expenses blow past average monthly rent payments, basic groceries and meat prices climb month after month, auto insurance and homeowners insurance premiums double, electric and heating utility bills surge, used car prices spike, property maintenance and trades labor costs go through the roof, local municipal trash and sewer fees jump, streaming and basic home internet services quietly creep up every year, and even simple routine vet visits for family pets double in cost. It is literally death by a thousand financial cuts every single month.
Millennials aren't lazy. We are working 50-hour weeks, picking up side hustles, and running local businesses in an economy where the goalposts keep getting moved.
Working directly with clients every day, I see this reality firsthand, and my heart honestly goes out to first-time homebuyers right now. I see the sheer grit, stress, and sacrifices it takes just to get to the closing table today. Saving up for years while paying high rent, watching rates and prices shift, and navigating competing offers is exhausting. If you are in that position, please know that your effort isn't unnoticed—it takes incredible discipline to pull it off in this climate, and you should be proud of every step you take toward that goal. But don't let the noise make you feel like it's impossible. With the right strategy, down payment assistance programs, localized grants, and creative planning, people are still breaking through and getting their keys every single day. The path might look different than it did for previous generations, but owning your piece of the market is still completely achievable when you have a solid plan and the right support behind you.
People are working harder than ever just to achieve the same financial baseline that used to be considered standard. Navigating this market isn't easy, but staying educated, transparent, and grounded is how we all keep moving forward.
