Ok Boomer, the problem with young people not buying a house is not that they ...

emonseo21

Can't young people buy a home because they spend money on Netflix accounts and iPhones? Many times when young people complain that they cannot afford a home, they receive the response from older people who when they lived in their time did not have smartphones or Netflix, and thanks to that they were able to save enough to buy a home.

Is that the secret of happy owners? Are they entertaining themselves with free programming and a second-hand smartphone while the tenants are watching Netflix on their brand new iPhone? Well, let's say things aren't exactly like that.


There was no Netflix in , but there was something similar
Building Plan
What would be the equivalent of Netflix in ? I think the closest thing would be Canal+. This channel, which broadcast part open and part encrypted, was the largest extension of pay television in Spain. At first it cost , pesetas a month (advertising was for twenty dollars a day) and offered films, documentaries and sports broadcasts not available on open (free) television. Soon the price would rise to , pesetas. That is, from to euros.

The plans to save Martorell by killing Seat
ON THE SALMON BLOG
The plans to save Martorell by killing Seat
The Netflix subscription today is between € and € per month. A subscription to this service for years would be between €, and €, Something that clearly does not allow the purchase of a home. There is a  Mexico Email List  lso the fact that although Netflix does not allow account sharing, it is a very common practice to reduce its cost.



Another alternative to Netflix would be HBO Max, whose price is €/month or €/year (and recently there was an offer for €/month. The monthly price of HBO for years would be , €. I think it is difficult to determine that having contracted a streaming service could entail a higher cost than what Canal+ or renting movies at the video store did in

An iPhone is more expensive, the different Apple models appear in its own store for a price from € for the iPhone SE to €, for the iPhone PRO Max. It is also not a cost that is usually incurred every year, since a Smartphone can last perfectly two years. If we were talking about the € iPhone every two years for years, we would be talking about €, Perhaps here we can pay with this for the parking space of a new construction home in Madrid.

This is how investments are protected against current inflation (and what may come)
ON THE SALMON BLOG
This is how investments are protected against current inflation (and what may come)
That is to say, even renewing the iPhone every two years (and without getting anything for the old one, even though Apple would offer us a discount for it) an iPhone and a Netflix or HBO Max plan does not represent extreme wear and tear on our personal finances that prevent us from buying a home. It is true that in there were no iPhones, but consumer electronics items such as personal computers, televisions, video players or music players had a higher price than now.

Housing and wages in , not what you expected
Room
In , according to this study by the BBVA foundation, the average price per square meter in Spain was € per square meter. That is, a house of square meters had a price of €, All this coming from a period in which between and the price of housing rose by %. In the minimum wage in Spain was € per month . That is, access to said housing with the average salary meant about months, more than ten years.

In , the minimum wage in Spain was set at €/month (which is distributed over payments). In Spain, the average house price in was €,/square meter. That is, the average access to said square meter home requires months of work. Just years. So, do young people have it just as good when it comes to buying a home or even better than in ?

How does it affect your finances if your neighbors are richer or poorer than you?
ON THE SALMON BLOG
How does it affect your finances if your neighbors are richer or poorer than you?
If we look at the unemployment rate , it is not very different, % for those under years of age in December and % for workers between and years of age in December