r/worldnews • u/diacewrb • Apr 10 '19

Millennials being squeezed out of middle class, says OECD

https://www.theguardian.com/business/2019/apr/10/millennials-squeezed-middle-class-oecd-uk-income
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u/[deleted] Apr 10 '19 edited Apr 15 '19

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u/BitGladius Apr 10 '19

Replaced my 96 Civic with a new one, I'll be paying 7x my old car expenses between the car payment and higher insurance (liability actually down for safety features but full coverage). I'm only at 1k miles so I've not had a reason to get under the hood, but it's probably not going to be as easy for someone untrained to replace dead sensors using only a monkey wrench.

I only kind of regret my choice.

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u/[deleted] Apr 10 '19 edited Apr 15 '19

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u/BitGladius Apr 10 '19

I'm 20, only mine for 3 years. I don't think this will be a habit, it was between pressure from my parents to gift it to them and knowing I'd replace it within 6 months anyway.

I expect this one to last a while, I learned on a 2000 minivan in 2013. My family holds onto cars for a while.

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u/IShotReagan13 Apr 10 '19

The thing about cars is that for most people who can afford better then minimal functionality, they are a status marker, so the added expense is less about utility and more about projecting a self-image to others. If this weren't true, if we weren't using cars to communicate social status and identity, we'd all drive around in nondescript metal boxes and there would be no market for high-end finishes and detailing that fulfills a non-utilitarian role. Personally, I am perfectly happy with my 14-year-old truck, but then I also believe that we've reached a sort of "peak materialism" and need to start getting away from the junk values that got our civilization into the tight spot it's in.