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Posted: 2/5/2022 10:01:47 PM EDT
[#1]
Quote HistoryQuoted: get another job or start your own business. If you are worth the pay another firm will hire you. Biden administration wants to cap nursing pay. |
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Posted: 2/5/2022 10:02:55 PM EDT
[#2]
Maybe smoking that "legalized" marijuana made millennials lazy asses.
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Posted: 2/5/2022 10:06:10 PM EDT
[#3]
Quote HistoryQuoted: because they are lazy bums. They want EVERYTHING now and without having to work for things they value fun experiences and vacations but DO NOT value work and OTJ training I only work to pay the bills. I have fucking hated every job I ever had, and resent the loss of years of my life spent making someone else wealthy while I get shit for compensation. That said, I am good at what I do, and I show up and get shit done. My supervisors are happy with my productivity and regularly thank me for doing a good job. But work is just a necessity to fund my lifestyle. If I didn't have to, I wouldn't do it. Work in and of itself isn't something to "value". The value is in the paycheck. |
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Posted: 2/5/2022 10:06:19 PM EDT
[#4]
Quote HistoryQuoted: Maybe smoking that "legalized" marijuana made millennials lazy asses. Rate of drug use is higher for boomers and X-ers than millennials. |
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Posted: 2/5/2022 10:06:20 PM EDT
[#5]
Quote HistoryQuoted: 1. Blanket statements about an entire generation are ignorant, at best. 2. The goal post keeps moving, faster and faster, for financial success. This isn’t hidden. Just a quick search on the terrible arfcom search engine pulls up 4 active threads in the last week, in GD about rapid inflation. Why would Millennials feel comfortable with financials right now? Why would anyone, actually feel comfortable with financials right now? It doesn’t matter if it’s a $1000 iPhone, $8 coffee, and $200 shoes. In 10 years how much have things gone up in price? Financially speaking, if you think you’re comfortable, you’re probably not. Even if you’re in the 7 figure range. Economic policy in the US right now is depressing at best. That is literally the more ignorant response that could possibly be posted. Fitting for arfcom I guess. 7 figure salary is not confortable? LOFL  
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Posted: 2/5/2022 10:09:45 PM EDT
[#6]
Quote HistoryQuoted: That is literally the more ignorant response that could possibly be posted. Fitting for arfcom I guess. 7 figure salary is not confortable? LOFL No shit. If I made 7 figures, I'd work maybe another 8 years and then buy a bunch of rental houses and some very stable stocks that pay good dividends and just live off the rent revenue. I wouldn't be making much more than I am right now, but it would be sustainable and free me up to pursue things I actually care about. |
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Posted: 2/5/2022 10:10:28 PM EDT
[#7]
Quote HistoryQuoted: Americans with a job are the richest 1% on the planet and some of the richest people in human history. Not being able to afford quite as much as the other guy down the street is relatively meaningless. True but Their boomer parents were able to easily buy a house with jobs that only required a HS diploma. The millennials have $50k+ in student loan debt and houses cost well north of $300k in a decent neighborhood in big cities. I see both sides of the argument. And I generally despise boomers and their spoiled, greedy entitlement attitude. *jaded Gen Xer who doesn't give a fuck either way. It's all going to burn* |
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Posted: 2/5/2022 10:11:18 PM EDT
[#8]
Quote HistoryQuoted: Lulz News flash. I don’t need a pension or a program. Shut the shit off all you want. Quote HistoryQuoted: Quoted: Reading the comments from boomers, you would never suspect that they are the ones primarily benefitting from entitlement spending in the form of medicare, public and private pensions and social securtiy. If the only thing you offer the younger generation is talk about bootstraps and toughen up buttercup, don't be suprised when the upcoming voting block(s) side with the people supporting wealth taxes and cutting off your pensions and entitlement programs. Lulz News flash. I don’t need a pension or a program. Shut the shit off all you want. Thats where that wealth tax I mentioned is going to suck. |
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Posted: 2/5/2022 10:13:18 PM EDT
[#9]
I live 65 miles from the big city. The down payment in the median house is 1.5 times the median household income. So if a median married couple wants to buy a median house and can save 10% of their income and not lose any to inflation, they have to save for 15 years for a down payment.
That’s not sustainable. The median house here isn’t extravagant by the way. |
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Posted: 2/5/2022 10:18:39 PM EDT
[#10]
Quote HistoryQuoted: I wonder if they completed the survey on their $1,000+ IPhone wearing $200 shoes while drinking an $8 Starbucks coffe? You sound silly dude |
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Posted: 2/5/2022 10:20:27 PM EDT
[#11]
Quote HistoryQuoted: I live 65 miles from the big city. The down payment in the median house is 1.5 times the median household income. So if a median married couple wants to buy a median house and can save 10% of their income and not lose any to inflation, they have to save for 15 years for a down payment. That’s not sustainable. The median house here isn’t extravagant by the way. move the market is self correcting. |
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Posted: 2/5/2022 10:22:54 PM EDT
[#12]
Quote HistoryQuoted: 1. Blanket statements about an entire generation are ignorant, at best. 2. The goal post keeps moving, faster and faster, for financial success. This isn’t hidden. Just a quick search on the terrible arfcom search engine pulls up 4 active threads in the last week, in GD about rapid inflation. Why would Millennials feel comfortable with financials right now? Why would anyone, actually feel comfortable with financials right now? It doesn’t matter if it’s a $1000 iPhone, $8 coffee, and $200 shoes. In 10 years how much have things gone up in price? Financially speaking, if you think you’re comfortable, you’re probably not. Even if you’re in the 7 figure range. Economic policy in the US right now is depressing at best. Quote HistoryQuoted: Quoted: Quoted: Quoted: I wonder if they completed the survey on their $1,000+ IPhone wearing $200 shoes while drinking an $8 Starbucks coffe? That is literally the more ignorant response that could possibly be posted. Fitting for arfcom I guess. Why? It's a legitimate question? 1. Blanket statements about an entire generation are ignorant, at best. 2. The goal post keeps moving, faster and faster, for financial success. This isn’t hidden. Just a quick search on the terrible arfcom search engine pulls up 4 active threads in the last week, in GD about rapid inflation. Why would Millennials feel comfortable with financials right now? Why would anyone, actually feel comfortable with financials right now? It doesn’t matter if it’s a $1000 iPhone, $8 coffee, and $200 shoes. In 10 years how much have things gone up in price? Financially speaking, if you think you’re comfortable, you’re probably not. Even if you’re in the 7 figure range. Economic policy in the US right now is depressing at best. My income today is unrealistic in the eyes of my ten-years-ago self. If I told my ten years younger self what I’m making now he would think I was rich! My current house value is double the value of “rich” people I knew twenty years ago, and we’re low- to middle- middle class. Just looking at the M1 money supply is terrifying, over the last ten years you can extrapolate dollar value to be maybe 25% at best now when compared to ten years ago. There are so many stats to choose from and all one has to do is look. So many people want to feel superior to others and they’re not paying attention to what has been lost. |
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Posted: 2/5/2022 10:22:55 PM EDT
[#13]
Quote HistoryQuoted: That is literally the more ignorant response that could possibly be posted. Fitting for arfcom I guess. 7 figure salary is not confortable? LOFL Quote HistoryQuoted: Quoted: 1. Blanket statements about an entire generation are ignorant, at best. 2. The goal post keeps moving, faster and faster, for financial success. This isn’t hidden. Just a quick search on the terrible arfcom search engine pulls up 4 active threads in the last week, in GD about rapid inflation. Why would Millennials feel comfortable with financials right now? Why would anyone, actually feel comfortable with financials right now? It doesn’t matter if it’s a $1000 iPhone, $8 coffee, and $200 shoes. In 10 years how much have things gone up in price? Financially speaking, if you think you’re comfortable, you’re probably not. Even if you’re in the 7 figure range. Economic policy in the US right now is depressing at best. That is literally the more ignorant response that could possibly be posted. Fitting for arfcom I guess. 7 figure salary is not confortable? LOFL He’s not wrong.  Attached File |
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Posted: 2/5/2022 10:24:37 PM EDT
[#14]
Quote HistoryQuoted: move the market is self correcting. The market would be self correcting, if it was a free market. Instead, Texas is turning purple. |
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Posted: 2/5/2022 10:25:31 PM EDT
[#15]
Quote HistoryQuoted: I don't know about that... I said it in another thread, I've made more money than ever and gotten huge raises under the Biden administration. Even accounting for inflation, I've gotten huge increases. Inflation could be 30% and I would still have gotten bigger pay increases than ever before in my life. Maybe we should be voting for Dems? T$ gave me a few grand in stimmy. It was nice. The Dems got me 10s of thousands in salary increases plus more in bonuses. if you received Trump bucks, you still don't make shit. |
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Posted: 2/5/2022 10:28:44 PM EDT
[#16]
Quote HistoryQuoted: because they are lazy bums. They want EVERYTHING now and without having to work for things they value fun experiences and vacations but DO NOT value work and OTJ training  Attached File |
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Posted: 2/5/2022 10:31:47 PM EDT
[#17]
Quote HistoryQuoted: You sound silly dude Quote HistoryQuoted: Quoted: I wonder if they completed the survey on their $1,000+ IPhone wearing $200 shoes while drinking an $8 Starbucks coffe? You sound silly dude He's not as far off as you think. Look at what the younger generation wants over making a life for themselves. Expensive trips, vacations, exotic places so one can hike up a hill, electronics that have a short lifespan until it's replaced with a new version and are tossed in a drawer, meals out all the time [when I was growing up, a meal at a sit down decent restaurant was a once every couple month thing]. It's a throwaway generation and it has been one for quite awhile. And new cars............I didn't see a new car in our family growing up until Dad hit his 50's, and Mom still drove the old used one. No one middle class had maids that came in weekly to clean, kids mostly did the lawn and helped around the house. We had ONE TV growing up, we NEVER had cable even when it came to be, it cost too much. If we wanted money, we found a way to earn it, I did lawns starting at 9 or 10, later I worked for Gramps who owned a construction business and he actually expected you to work or you were not getting paid. We really never missed it, it was just the way it was, sometimes money was tight and sometimes it wasn't and sometimes it sucked far worse then most people have it today. We survived and grew up and none of us were traumatized by the way it was. None of us waste money on therapists either. |
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Posted: 2/5/2022 10:35:45 PM EDT
[#18]
Quote HistoryQuoted: I wonder if they completed the survey on their $1,000+ IPhone wearing $200 shoes while drinking an $8 Starbucks coffe? I don’t have any of those. Yet I’ll never own a home in the town I was born in despite having at pension at 40. Inflation has outpaced the middle and lower middle class. The only way I could is if my wife worked. Society has left behind the stay at home mom. |
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Posted: 2/5/2022 10:36:22 PM EDT
[#19]
Quote HistoryQuoted: I wonder if they completed the survey on their $1,000+ IPhone wearing $200 shoes while drinking an $8 Starbucks coffe? Hey... I have a $250.00 phone  and don't drink coffee that's not made in my or (someone else's) kitchen.That being said, $200.00 dollars are perfectly reasonable for a quality pair of shoes. European made boots and shoes that cost $150 to $300 dollars are well worth the additional cost. It might even be cheaper than buying multiple Chinese made K-Mart specials.  I do agree with the survey... with inflation and ammo costs it's really hard to justify getting a Wildcat caliber.
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Posted: 2/5/2022 10:37:22 PM EDT
[#20]
Quote HistoryQuoted: There were a lot of millennials of voting age when the US Nat'l. debt was still at $5.6 trillion. That was 2001, with the commonly held convention that Millennials were born between 1981-1996. It didn't pass $10 trillion until 2008, by which time over 1/2 of Millennials were of voting age. US debt was at $17.8 trillion in 2014, by which time almost all Millennials were of voting age. So, here we are at over $30 trillion, with Millennials being able to vote during the VAST majority of that debt increase. And in 2014, how many Millennials held seats in Congress or held the Presidentcy? How many Millennials voted on that GWoT, DHS or owned underwater homes that needed bailouts? Who was the group refusing to buy Health Insurance thus inspiring the unconstitutional mandate and who came up with that mandate? Were any Millennials on the Supreme Court that upheld the unconstitutional mandate? Was it a Millennial with terminal Brain Cancer who hadn't showed up for work in almost two years that waddle his as into Congress to be the deciding vote to keep the unconstitutional mandate? |
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Posted: 2/5/2022 10:38:19 PM EDT
[#21]
Quote HistoryQuoted: I'm a millennial. Fuck them. Whiny fucks. I started off broke, earned a degree, got a career, paid off all my debts. Married a girl, paid off her debts too. Moved across the country, bought a house. About to have kids and am not worried. How did I get here? Working my ass off. Only losers blame others for their failings. And the nail was hit right on the motherfucking head. I’m a millennial too, but was raised right. |
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Posted: 2/5/2022 10:40:53 PM EDT
[#22]
Quote HistoryQuoted: Hey... I have a $250.00 phone and don't drink coffee that's not made in my or (someone else's) kitchen.That being said, $200.00 dollars are perfectly reasonable for a quality pair of shoes. European made boots and shoes that cost $150 to $300 dollars are well worth the additional cost. It might even be cheaper than buying multiple Chinese made K-Mart specials. I do agree with the survey... with inflation and ammo costs it's really hard to justify getting a Wildcat caliber. Quote HistoryQuoted: Quoted: I wonder if they completed the survey on their $1,000+ IPhone wearing $200 shoes while drinking an $8 Starbucks coffe? Hey... I have a $250.00 phone and don't drink coffee that's not made in my or (someone else's) kitchen.That being said, $200.00 dollars are perfectly reasonable for a quality pair of shoes. European made boots and shoes that cost $150 to $300 dollars are well worth the additional cost. It might even be cheaper than buying multiple Chinese made K-Mart specials. I do agree with the survey... with inflation and ammo costs it's really hard to justify getting a Wildcat caliber. A good pair of $175 to $225 US or Euro shoes will outlast 3-4, $70-$80 Chine shoes. |
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Posted: 2/5/2022 10:49:15 PM EDT
[#23]
Quote HistoryQuoted: I don’t have any of those. Yet I’ll never own a home in the town I was born in despite having at pension at 40. Inflation has outpaced the middle and lower middle class. The only way I could is if my wife worked. Society has left behind the stay at home mom. All you have to do is cancel Netflix and don't buy an avocado toast phone and that somehow makes houses cost less. |
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Posted: 2/5/2022 10:50:40 PM EDT
[#24]
Quote HistoryQuoted: Americans with a job are the richest 1% on the planet and some of the richest people in human history. Not being able to afford quite as much as the other guy down the street is relatively meaningless. I would argue that your first point is the meaningless point and the second point is the one of any value. Wealth is all relative and the closer to "home" you use as a measuring stick, the more meaning it has. |
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Posted: 2/5/2022 11:12:24 PM EDT
[#25]
Quote HistoryQuoted: I live 65 miles from the big city. The down payment in the median house is 1.5 times the median household income. So if a median married couple wants to buy a median house and can save 10% of their income and not lose any to inflation, they have to save for 15 years for a down payment. That’s not sustainable. The median house here isn’t extravagant by the way. Bingo. Money Machine Go Brrrr and " Two Weeks to Flatten the Curve" has fucked everyone...(except Amazon.) My buddy is 32, had a 5 year plan to buy a home. This is year 5. He has $65,000 cash, maybe more, saved up. Problem? He was expecting to buy a home for $300k and those same homes are going for $550k now. Even funnier, rent has skyrocket but I don't think he's wages have gone up much in the last few years. I'm telling him bite the bullet and pay PMI, but he's terrified of another housing bust and getting stuck with +$100k in negative equity. |
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Posted: 2/5/2022 11:13:44 PM EDT
[#26]
Quote HistoryQuoted:...That being said, $200.00 dollars are perfectly reasonable for a quality pair of shoes. I wear 100 dollar Florsheims (once a top US brand) but I don't have any money issues. If I did have money issues, I'd wear 50 buck Dockers and be happy. Wearing high quality clothing is fine, when you reach the financial position to afford the finer things, until then that is money that could be invested to grow wealth. |
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Posted: 2/5/2022 11:19:35 PM EDT
[#27]
We are here to strive for better - if you have everything you want there would be no struggle, hence stagnation.
This is a real problem though, one of many making regular people unable to imagine the life they were taught we all want. https://www.foxnews.com/media/blackrock-investment-firms-killing-dream-home-ownership And it gets even worse for the "4th branch of government" as they have been called. https://www.nationalreview.com/2022/02/blackrocks-hypocrisy-highlights-esgs-shortcomings/ |
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Posted: 2/5/2022 11:20:34 PM EDT
[#28]
Quote HistoryQuoted: He's not as far off as you think. Look at what the younger generation wants over making a life for themselves. Expensive trips, vacations, exotic places so one can hike up a hill, electronics that have a short lifespan until it's replaced with a new version and are tossed in a drawer, meals out all the time [when I was growing up, a meal at a sit down decent restaurant was a once every couple month thing]. It's a throwaway generation and it has been one for quite awhile. And new cars............I didn't see a new car in our family growing up until Dad hit his 50's, and Mom still drove the old used one. No one middle class had maids that came in weekly to clean, kids mostly did the lawn and helped around the house. We had ONE TV growing up, we NEVER had cable even when it came to be, it cost too much. If we wanted money, we found a way to earn it, I did lawns starting at 9 or 10, later I worked for Gramps who owned a construction business and he actually expected you to work or you were not getting paid. We really never missed it, it was just the way it was, sometimes money was tight and sometimes it wasn't and sometimes it sucked far worse then most people have it today. We survived and grew up and none of us were traumatized by the way it was. None of us waste money on therapists either. There are also a bunch of perverse incentives for my generation that push many toward spending rather than saving. One, with interest rates as low as they have been and inflation being as high as it is... you lose money when you save because your dollars are losing purchasing power. Additionally, you have to look at the very real demoralizing feeling of looking at your debts and coming to the not unreasonable conclusion that you're never going to get out from under them. If you happen to get an extra few hundred dollars here and there, are you going to throw it at a debt when you know it's barely a drop in the ocean in the hopes that someday 20-30 years from now you're in a better spot... or, do you spend it on a little bit of instant gratification? Obviously, the objectively correct decision is to put it toward those debts because even little bits here and there help to knock out some of the principle. But a fair percentage of my generation are on "income based repayment" plans which don't even cover the interest on their outstanding balance, so even that extra few hundred dollars here and there really won't shorten the timeline on their debt. Given that my generation has already been indoctrinated into instant gratification... the decision to blow a few hundred to a thousand dollars on something that can be enjoyed right now versus shoveling it toward a debt that will never go away starts to make a little more sense. Deferring gratification only makes sense if you believe that you'll actually get to experience greater gratification further down the line. But if you've lost hope to the point that you start to think that deferring gratification really means permanent denial of gratification... you start to stop giving a shit about saving because money in hand now is worth a hell of a lot more than more money 20 years from now you don't believe you'll ever see. |
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Posted: 2/5/2022 11:30:21 PM EDT
[#29]
Quote HistoryQuoted: There are also a bunch of perverse incentives for my generation that push many toward spending rather than saving. One, with interest rates as low as they have been and inflation being as high as it is... you lose money when you save because your dollars are losing purchasing power. Additionally, you have to look at the very real demoralizing feeling of looking at your debts and coming to the not unreasonable conclusion that you're never going to get out from under them. If you happen to get an extra few hundred dollars here and there, are you going to throw it at a debt when you know it's barely a drop in the ocean in the hopes that someday 20-30 years from now you're in a better spot... or, do you spend it on a little bit of instant gratification? Obviously, the objectively correct decision is to put it toward those debts because even little bits here and there help to knock out some of the principle. But a fair percentage of my generation are on "income based repayment" plans which don't even cover the interest on their outstanding balance, so even that extra few hundred dollars here and there really won't shorten the timeline on their debt. Given that my generation has already been indoctrinated into instant gratification... the decision to blow a few hundred to a thousand dollars on something that can be enjoyed right now versus shoveling it toward a debt that will never go away starts to make a little more sense. Deferring gratification only makes sense if you believe that you'll actually get to experience greater gratification further down the line. But if you've lost hope to the point that you start to think that deferring gratification really means permanent denial of gratification... you start to stop giving a shit about saving because money in hand now is worth a hell of a lot more than more money 20 years from now you don't believe you'll ever see. Quote HistoryQuoted: Quoted: He's not as far off as you think. Look at what the younger generation wants over making a life for themselves. Expensive trips, vacations, exotic places so one can hike up a hill, electronics that have a short lifespan until it's replaced with a new version and are tossed in a drawer, meals out all the time [when I was growing up, a meal at a sit down decent restaurant was a once every couple month thing]. It's a throwaway generation and it has been one for quite awhile. And new cars............I didn't see a new car in our family growing up until Dad hit his 50's, and Mom still drove the old used one. No one middle class had maids that came in weekly to clean, kids mostly did the lawn and helped around the house. We had ONE TV growing up, we NEVER had cable even when it came to be, it cost too much. If we wanted money, we found a way to earn it, I did lawns starting at 9 or 10, later I worked for Gramps who owned a construction business and he actually expected you to work or you were not getting paid. We really never missed it, it was just the way it was, sometimes money was tight and sometimes it wasn't and sometimes it sucked far worse then most people have it today. We survived and grew up and none of us were traumatized by the way it was. None of us waste money on therapists either. There are also a bunch of perverse incentives for my generation that push many toward spending rather than saving. One, with interest rates as low as they have been and inflation being as high as it is... you lose money when you save because your dollars are losing purchasing power. Additionally, you have to look at the very real demoralizing feeling of looking at your debts and coming to the not unreasonable conclusion that you're never going to get out from under them. If you happen to get an extra few hundred dollars here and there, are you going to throw it at a debt when you know it's barely a drop in the ocean in the hopes that someday 20-30 years from now you're in a better spot... or, do you spend it on a little bit of instant gratification? Obviously, the objectively correct decision is to put it toward those debts because even little bits here and there help to knock out some of the principle. But a fair percentage of my generation are on "income based repayment" plans which don't even cover the interest on their outstanding balance, so even that extra few hundred dollars here and there really won't shorten the timeline on their debt. Given that my generation has already been indoctrinated into instant gratification... the decision to blow a few hundred to a thousand dollars on something that can be enjoyed right now versus shoveling it toward a debt that will never go away starts to make a little more sense. Deferring gratification only makes sense if you believe that you'll actually get to experience greater gratification further down the line. But if you've lost hope to the point that you start to think that deferring gratification really means permanent denial of gratification... you start to stop giving a shit about saving because money in hand now is worth a hell of a lot more than more money 20 years from now you don't believe you'll ever see. Yes, you throw it at debt because that debt will hold you back forever. Mom had cancer in the early 70's. No health insurance, Dad finally paid it off in the middle 90's. that is 20 years of paying month in and month out. We had no health insurance because he had been in a bad MC accident that crushed his leg and he was out of work for months. It's one of the reasons we moved back to Michigan from Florida, he had to take an office job [engineer, he had been doing construction during the building boom in florida, that paid well for the time] Took awhile for him to get back on his financial feet but he did, and he retired well. He ALWAYS put something back for retirement even in the bad times. You make do with what you have and you pay your debts. Kids don't learn that from people saying it, they learn from watching the folks DO it. |
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Posted: 2/5/2022 11:34:57 PM EDT
[#30]
Quote HistoryQuoted: if you received Trump bucks, you still don't make shit. I guess that's what millenials are saying. Once upon a time $75k-100k was pretty good money. It's chump change the last 10 years or so. |
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Posted: 2/5/2022 11:39:47 PM EDT
[#31]
Quoted: I live 65 miles from the big city. The down payment in the median house is 1.5 times the median household income. So if a median married couple wants to buy a median house and can save 10% of their income and not lose any to inflation, they have to save for 15 years for a down payment. That’s not sustainable. The median house here isn’t extravagant by the way. Are people really putting 20% down on houses? Zero down payment on the couple I've bought. |
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Posted: 2/5/2022 11:41:03 PM EDT
[#32]
Quote HistoryQuoted: Are people really putting 20% down on houses? Zero down payment on the couple I've bought. I only put down 10%. My PMI is only $29/mo. Cost me about $1400 total before it's gone. |
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Posted: 2/5/2022 11:44:15 PM EDT
[#33]
Quote HistoryQuoted: if you received Trump bucks, you still don't make shit. That is a blanket statement that doesn't account for the area in which people live. For instance 100,000 in California isn't shit. 100,000 in Forest County, Pa is living like like a rock star. The median house hold income in Forest County is 39,000. Yes 39,000. I know a bunch of people that just bought 300,000+ homes while student loans were on deferral and stimulus checks were printing. The day they need to pay them back and the free money officially stops this country is in for a world of hurt. One unexpected car bill is going to crush people. We haven't even accounted for (imo) the amount of forclosures that should have occurred in the original covid shut down. I keep hearing the courts are backed up |
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Posted: 2/5/2022 11:46:27 PM EDT
[#34]
We really need the fed to remove liquidity and raise interest rates.
Inflation is crushing the American dream for a generation. Now, some of that generation are whiny and useless, but that's beside the point. I fall into the millennial category. I have worked hard, saved, gotten useful education, and make way more money than I ever thought I would, but it's becoming more and more meaningless. I doubt I will ever own land, ever feel comfortable buying a high end pickup, and I will probably struggle to retire before 70. I believe profligate spending, credit emission, and resulting inflation are major factors. Shitting on millennials is ignorant. Blaming iphones, shoes, and avocado toast is maximum ignorance. |
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Posted: 2/5/2022 11:47:41 PM EDT
[#35]
Quote HistoryQuoted: Are people really putting 20% down on houses? Zero down payment on the couple I've bought. Average is like 5 or 7% down lately. I like 20%. Much safer. |
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Posted: 2/5/2022 11:48:36 PM EDT
[#36]
Quote HistoryQuoted: The median house hold income in Forest County is 39,000. Yes 39,000. If a man was independently wealthy I’ll bet he could have a harem there. |
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Posted: 2/5/2022 11:56:52 PM EDT
[#37]
Quote HistoryQuoted: We really need the fed to remove liquidity and raise interest rates. |
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Posted: 2/6/2022 12:02:50 AM EDT
[#38]
Quote HistoryQuoted: Average is like 5 or 7% down lately. I like 20%. Much safer. Quote HistoryQuoted: Quoted: Are people really putting 20% down on houses? Zero down payment on the couple I've bought. Average is like 5 or 7% down lately. I like 20%. Much safer. Much safer? You must be a mortgage lender 
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Posted: 2/6/2022 12:06:05 AM EDT
[#39]
Quote HistoryQuoted: It is coming. And going to pop the asset bubble. They painted themselves into a corner. Quote HistoryQuoted: Quoted: We really need the fed to remove liquidity and raise interest rates. I believe you are correct. I would welcome your input and reasoning on roughly when that would begin to transpire and what form it would take. |
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Posted: 2/6/2022 12:06:51 AM EDT
[#40]
Quote HistoryQuoted: I live 65 miles from the big city. The down payment in the median house is 1.5 times the median household income. So if a median married couple wants to buy a median house and can save 10% of their income and not lose any to inflation, they have to save for 15 years for a down payment. That’s not sustainable. The median house here isn’t extravagant by the way. Build your own house, buy lumber every payday and work on it nights and weekends. Instead of the beach or Disney, work on the house instead of costly money wasting vacations. We have built our own houses for generations in my family (not our primary professions either), it ain't rocket science. It's a fun and profitable endeavor for sure. |
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Posted: 2/6/2022 12:06:58 AM EDT
[#41]
Quote HistoryQuoted: Much safer? You must be a mortgage lender Quote HistoryQuoted: Quoted: Quoted: Are people really putting 20% down on houses? Zero down payment on the couple I've bought. Average is like 5 or 7% down lately. I like 20%. Much safer. Much safer? You must be a mortgage lender Were you underwater in 2009? |
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Posted: 2/6/2022 12:08:02 AM EDT
[#42]
Quote HistoryQuoted: Build your own house, buy lumber every payday and work on it nights and weekend. Instead of the beach or Disney, build on the house instead of costly money wasting vacations. We have built our own houses for generations in my family (not our primary professions either), it ain't rocket science. It's a fun and profitable endeavor for sure. I did a $50,000 remodel last year. Did much of the work myself. |
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Posted: 2/6/2022 12:08:15 AM EDT
[#43]
Quote HistoryQuoted: If a man was independently wealthy I’ll bet he could have a harem there. @ryan_scott You could have alot of things there beautiful country but it's mainly a fishing and hunting area not much industry the coldest hospital is 40 mins away. Good place to live if your a doctor or nurse. |
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Posted: 2/6/2022 12:09:16 AM EDT
[#44]
Quote HistoryQuoted: No shit. If I made 7 figures, I'd work maybe another 8 years and then buy a bunch of rental houses and some very stable stocks that pay good dividends and just live off the rent revenue. I wouldn't be making much more than I am right now, but it would be sustainable and free me up to pursue things I actually care about. Quote HistoryQuoted: Quoted: That is literally the more ignorant response that could possibly be posted. Fitting for arfcom I guess. 7 figure salary is not confortable? LOFL No shit. If I made 7 figures, I'd work maybe another 8 years and then buy a bunch of rental houses and some very stable stocks that pay good dividends and just live off the rent revenue. I wouldn't be making much more than I am right now, but it would be sustainable and free me up to pursue things I actually care about. Net worth isn’t income. People who have a million or two in net worth will be in trouble with the inflation. Especially in retirement. |
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Posted: 2/6/2022 12:17:55 AM EDT
[#45]
Quote HistoryQuoted: Net worth isn’t income. People who have a million or two in net worth will be in trouble with the inflation. Especially in retirement. Quote HistoryQuoted: Quoted: Quoted: That is literally the more ignorant response that could possibly be posted. Fitting for arfcom I guess. 7 figure salary is not confortable? LOFL No shit. If I made 7 figures, I'd work maybe another 8 years and then buy a bunch of rental houses and some very stable stocks that pay good dividends and just live off the rent revenue. I wouldn't be making much more than I am right now, but it would be sustainable and free me up to pursue things I actually care about. Net worth isn’t income. People who have a million or two in net worth will be in trouble with the inflation. Especially in retirement. Holy fuck, no wonder you don’t understand money. Wealth IS income. It fucking prints it. |
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Posted: 2/6/2022 12:20:37 AM EDT
[#46]
Quote HistoryQuoted: Holy fuck, no wonder you don’t understand money. Wealth IS income. It fucking prints it. LOL no. That’s an inaccurate statement. |
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Posted: 2/6/2022 12:23:45 AM EDT
[#47]
Quote HistoryQuoted: Yes and no. As a "millennial" I do see your point about wasting money on stupid expensive shit, which I avoid (except guns/ammo). But also the price of other things is killing us too. Year over year inflation goes up, but my paycheck has not. Alot of my coworkers (older and on 2nd jobs) hassle me for not having bought a house yet (trust me, we are trying). But when I finally show them the market, the lack of homes for sale, and the ridiculously high prices for a house that's not completely trashed they start to get it. I don't want much at this point in my life. I'd like a reasonable house in an acre or 2, and a 4dr truck that has under 100K miles. I looked at a truck the other day for $30k. It had 100K miles and wholes I'm the body from rust. The reality is we (millennials) cannot afford to live the same life styles that our parents lived (assuming same income levels adjusted for inflation). That's just my thoughts on. The average American treats moving like some unobtainable or impossible task. Move somewhere more affordable. |
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Posted: 2/6/2022 12:24:28 AM EDT
[#48]
My home has appreciated $110,000 in less than 4 years. That's a 50% increase. I live in a bland postage stamp lot line cookie cutter subdivision with horrible traffic near a highway and two railroad tracks. I thought I got raped when I bought it. If I would've waited a few more years, I'd be searching for a double wide I guess.
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Posted: 2/6/2022 12:25:00 AM EDT
[#49]
Quote HistoryQuoted: The average American treats moving like some unobtainable or impossible task. Move somewhere more affordable. Usually the jobs there pay less or you spend all your money commuting. |
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Posted: 2/6/2022 12:25:14 AM EDT
[#50]
Quote HistoryQuoted: Yes and no. As a "millennial" I do see your point about wasting money on stupid expensive shit, which I avoid (except guns/ammo). But also the price of other things is killing us too. Year over year inflation goes up, but my paycheck has not. Alot of my coworkers (older and on 2nd jobs) hassle me for not having bought a house yet (trust me, we are trying). But when I finally show them the market, the lack of homes for sale, and the ridiculously high prices for a house that's not completely trashed they start to get it. I don't want much at this point in my life. I'd like a reasonable house in an acre or 2, and a 4dr truck that has under 100K miles. I looked at a truck the other day for $30k. It had 100K miles and wholes I'm the body from rust. The reality is we (millennials) cannot afford to live the same life styles that our parents lived (assuming same income levels adjusted for inflation). That's just my thoughts on. 100%. Our dollar buys less now, than at any other point in our lifetime... and these old fucks keep saying it's because we're lazy. |
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