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Posted: 8/4/2023 7:45:34 AM EDT
[#1]
Quote HistoryQuoted: Lol. Bad at math boomers. The house my parents bought for 36k in 1977 sold last year for around 300k. Can you do the math to figure out if 36k at 20% is more desirable or not than 300k at 7%? Because I can. Let's make no mistake, housing costs have inflated considerably faster than wages. Quote HistoryQuoted: Quoted: If these entitled brats think 7% interest is high, they would not have liked the Carter years. Or the early Reagan years. Back in the 60s, houses were much, much smaller than they are now. They were about the size of large apartments. With interest rates so high, no one could afford the McMansions that most Karens live in today. Didn't interest rates at one point get as high as 20%? Makes you wonder how anyone was able to finance anything back then. By comparison, 7% is dreamy. Lol. Bad at math boomers. The house my parents bought for 36k in 1977 sold last year for around 300k. Can you do the math to figure out if 36k at 20% is more desirable or not than 300k at 7%? Because I can. Let's make no mistake, housing costs have inflated considerably faster than wages. My parent's house in 1979 was $48,000.00. That's pretty much the price of the family vehicle of choice today, a half-ton crew cab pickup truck. Of course, interest rates were far higher in 1979; I think it was 10% my parent's paid and they probably felt lucky given where interest rates were about to go in the early 1980s. Much of that had to do with Nixon Shock and the US's actions to decouple the dollar from the gold standard or really the Bretton Woods agreement. Of course, our elstwhere "allies" were pushing that issue because the US was now the western superpower and could give them orders. Japan, West Germany, and France were the ones more upset with our control and actions than the damn Soviets leading to a monumentally flawed decision IMO. Hence the 1970s stagflation which really kicked in during Carter's admin and the realignment of the 1980s into the King Dollar actions as well as the US's deindustrialization. |
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Posted: 8/4/2023 7:46:24 AM EDT
[#2]
Quote HistoryQuoted: Lol. Bad at math boomers. The house my parents bought for 36k in 1977 sold last year for around 300k. Can you do the math to figure out if 36k at 20% is more desirable or not than 300k at 7%? Because I can. Let's make no mistake, housing costs have inflated considerably faster than wages. Lots of things were cheaper in 1977 than they are now. What were wages like in 1977? I doubt McDonald's burger flippers were making $20 a hour. From your whining, it sounds like you will have better luck living in an apartment. Life is hard, bubbie. No one promised you a rose garden. Build a bridge and get over yourself. |
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Posted: 8/4/2023 7:47:31 AM EDT
[#3]
Quote HistoryQuoted: 1/2 mil ain’t getting ‘cribs’ type house. Thats like THE first NEW house a family will/ can purchase Quote HistoryQuoted: 1/2 mil ain’t getting ‘cribs’ type house. Thats like THE first NEW house a family will/ can purchase Exactly. Quoted: The entitled generation doesn't need a $500k starter home. They need an actual starter home. They only think they need a home straight out of MTV's Cribs. You can't get a small(850sqft) one bed apartment in my area for less than $1500/m. $1500 x 12 = $18,000 x 15yr = $270k and at 30yrs = $540k.. Good luck finding a 2500sqft 1 family "starter" home in which you can actually raise a family in for less than $500k. $500k these days for a "starter" home is nothing and almost a requirement. ETA: Unless, of course, you want to live in the ghetto with the animals. Where you have zero peace of mind. |
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Posted: 8/4/2023 7:48:11 AM EDT
[#4]
Quote HistoryQuoted: Get both. Kids today are entitled, and back in the day a home could be afforded with just a high school education and one spouse staying home to raise the kids. So yeah, kids are entitled. But also, things are harder. How big were the houses? Did they have central air? Were they paying for things like cellphones and subscriptions to streaming services? How often were they going out to eat or paying someone to bring them their food? How many TVs did they have? What was their car like? If you wanna live like the 50s then you need to live like the 50s. It’s not like feminism where you can just go down the buffet line and pick the things you like… ignore the things you don’t like… and keep what is good about your current situation. Gen X (few years from being a millennial) checking in. |
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Posted: 8/4/2023 7:48:43 AM EDT
[#5]
Quote HistoryQuoted: This is an ignorant take. Are there those who overspend? Sure. But this is impacting young Americans who have done all of the right things. Quote HistoryQuoted: Quoted: In the 70s and 80s, we didn't have anywhere NEAR the creature comforts that we do now. A family of four had to struggle by with no internet and no cable TV; they didn't have a half dozen streaming services that cost ten to twenty bucks a month each. They didn't have four cell phone plans for four new phones. Sure, people could do without those creature comforts, but they CHOOSE to have them. They CHOOSE those extra expenses, and then bitch about how much it costs to live these days. This is an ignorant take. Are there those who overspend? Sure. But this is impacting young Americans who have done all of the right things. Well, that's just... like... your opinion man. The thread is about younger folks who feel entitled to things that aren't realistic, not about "young Americans who have done all of the right things." Your point is moot. |
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Posted: 8/4/2023 7:54:32 AM EDT
[#6]
Quote HistoryQuoted:. So yeah, kids are entitled. But also, things are harder. 
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Posted: 8/4/2023 7:55:36 AM EDT
[#7]
Quote HistoryQuoted: Lol, I'm not a boomer, scrote. Lots of things were cheaper in 1977 than they are now. What were wages like in 1977? I doubt McDonald's burger flippers were making $20 a hour. From your whining, it sounds like you will have better luck living in an apartment. Life is hard, bubbie. No one promised you a rose garden. Build a bridge and get over yourself. Quote HistoryQuoted: Quoted: Lol. Bad at math boomers. The house my parents bought for 36k in 1977 sold last year for around 300k. Can you do the math to figure out if 36k at 20% is more desirable or not than 300k at 7%? Because I can. Let's make no mistake, housing costs have inflated considerably faster than wages. Lots of things were cheaper in 1977 than they are now. What were wages like in 1977? I doubt McDonald's burger flippers were making $20 a hour. From your whining, it sounds like you will have better luck living in an apartment. Life is hard, bubbie. No one promised you a rose garden. Build a bridge and get over yourself. I hate to break this to you, but the ability to do basic math isn’t whining…scrote. You’re the one that tried to say that 7% today is “dreamy” compared to 20% then. Basic math says otherwise. Don’t get pissy because you’re wrong, just go figure out what numbers are and how they work together. |
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Posted: 8/4/2023 7:55:49 AM EDT
[#8]
Quote HistoryQuoted: Homes around here have doubled or tripled in price because of out of staters - and just since Covid. I don't care how old they are - stay the Hell away.  It's insane! My ex-neighbors bought there little place six years ago for $116,000. It sold three months ago for $238,000. First person that looked at it offered $5K over the asking price. How does that many any sense at all? |
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Posted: 8/4/2023 8:00:38 AM EDT
[#9]
My kids managed to buy their own homes by the time they were 20. They work their asses off, spend smartly, and save all they can. I am proud of them.
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Posted: 8/4/2023 8:01:29 AM EDT
[#10]
Times are hard now, no one is debating this unless they are delusional. I was born in the late 70’s so so I’m Gen X, I do remember very well the days of just the man working and the wife staying home and raising the kids, and they seemed to have plenty of money for everything even though the man just worked at a factory or something.
That is not possible in 2023, and hasn’t been possible for a long time now. Buying a house in 2023 is a luxury, it just is. Houses are now luxury items. My wife and I live in a very spacious and modern 3 bedroom condo, we both make over 100k per year and only have one child. We want a home, but between setting aside money for a down payment and the interest rates, we are waiting for the FL market to come down some more, and even then we aren’t going to strap ourselves. We are on the bougie side and expect the best so that’s a “us” problem admittedly. If I was in my 20ms now I would agree with the 20 years olds of today. Buying a home is a luxury now |
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Posted: 8/4/2023 8:03:22 AM EDT
[#11]
Quote HistoryQuoted: Get both. Kids today are entitled, and back in the day a home could be afforded with just a high school education and one spouse staying home to raise the kids. So yeah, kids are entitled. But also, things are harder. Not if, one doesnt blow their money on: Starbucks Video games $1000 cell phones Financed cars 3 square meals out $100 TV package 2 vacations per year Etc. I'm not saying it's easy, but I am saying it's not has hard as they make it out to be... |
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Posted: 8/4/2023 8:03:37 AM EDT
[#12]
GOT
DAYUM MILLENNIALS @Agilt @The_Master_Shake @TheWhitePill @Geralt55 @beitodesstrafe |
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Posted: 8/4/2023 8:08:46 AM EDT
[#13]
that entitlement generation generally doesnt know how to do anything hands on either. so they get that house and have to pay everyone to fix it.
they dont want that. they want soy latte's and video games and weed |
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Posted: 8/4/2023 8:08:49 AM EDT
[#14]
Quote HistoryQuoted: Not if, one doesnt blow their money on: Starbucks Video games $1000 cell phones Financed cars 3 square meals out $100 TV package 2 vacations per year Etc. I'm not saying it's easy, but I am saying it's not has hard as they make it out to be... Quote HistoryQuoted: Quoted: Get both. Kids today are entitled, and back in the day a home could be afforded with just a high school education and one spouse staying home to raise the kids. So yeah, kids are entitled. But also, things are harder. Not if, one doesnt blow their money on: Starbucks Video games $1000 cell phones Financed cars 3 square meals out $100 TV package 2 vacations per year Etc. I'm not saying it's easy, but I am saying it's not has hard as they make it out to be... All those things you listed are necessities, then add in ammo, range fees……it’s a never ending cycle of emptying the wallet |
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Posted: 8/4/2023 8:10:44 AM EDT
[#15]
Quote HistoryQuoted: Am I really in on this thread before anyone mentions WHY interest rates are so high now?? These kids should get that lecture too… Bidenomics baby ! You reap what you sow. Elections have consequences! How ever you want to phrase it. Four more years, four more years. 
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Posted: 8/4/2023 8:10:46 AM EDT
[#16]
Quote HistoryQuoted: Between inflation and fuck-fuck games by the Fed, yes, it’s harder to buy a home now than it was even 5 years ago. If you disagree you need to stop being an old man yelling at clouds and acknowledge that a starter home shouldn’t be $400k. This. Im glad I bought my house 7 years ago (refinanced in 2020) because I would struggle to pay it @ 7% and $120k more than I paid. |
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Posted: 8/4/2023 8:11:03 AM EDT
[#17]
Quote HistoryQuoted: What is a discord server?... im guessing something to do w gaming. serious stuff. |
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Posted: 8/4/2023 8:12:23 AM EDT
[#18]
If you think about it, the “intolerance” angle is written into our Constitution.
It’s the second thing. 
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Posted: 8/4/2023 8:13:16 AM EDT
[#19]
Gen Z is the most entitled, lazy, and unskilled generation to date. The worst trainees at work are of this generation.
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Posted: 8/4/2023 8:14:31 AM EDT
[#20]
Mortgages were at 13% in the 70’s.
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Posted: 8/4/2023 8:15:24 AM EDT
[#21]
Quote HistoryQuoted: This! Agree 100%. It wasn't that long ago that a guy with a high school education working full time as a janitor (supporting a wife and two kids) could still own his own home and a decent car or two. It was the American dream. I believe that this is no longer obtainable for many people in similar socio-economic situations now. I also don't know what the overall solution is.  I agree as well. The thing is the longer we go on without a solution the more disenfranchised younger generations will become. This is only going to push more of them to believing socialism is the way to go. |
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Posted: 8/4/2023 8:16:08 AM EDT
[#22]
Quote HistoryQuoted: Lol. Bad at math boomers. The house my parents bought for 36k in 1977 sold last year for around 300k. Can you do the math to figure out if 36k at 20% is more desirable or not than 300k at 7%? Because I can. Let’s make no mistake, housing costs have inflated considerably faster than wages. Minimum wage didn’t break $5 an hour til 1999… |
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Posted: 8/4/2023 8:17:28 AM EDT
[#23]
Quoted: The argument was made that many millions of people purchased homes for a long time at rates such as 7% and they made it work..so why was it so difficult now all the sudden. |
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Posted: 8/4/2023 8:19:02 AM EDT
[#24]
Quote HistoryQuoted: Get both. Kids today are entitled, and back in the day a home could be afforded with just a high school education and one spouse staying home to raise the kids. So yeah, kids are entitled. But also, things are harder. I mean…yes and no. Even back in the 70s many women worked. As well those hoses everyone could afford were nothing as far as materials or size compared to todays homes on average. It was a hell of a lot cheaper to build a house back then as well and I do mean after adjusting for inflation. Codes and energy BS have pushed home prices to the moon. No one carried $1500 phones. A $500 pair of shoes made in China would have been scoffed at. Fancy coffee wasn’t a normal thing like now. Going out to eat was a rare treat for most. It’s not as easy as just talking wages. Our expectations of lifestyle has changed as well. |
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Posted: 8/4/2023 8:20:20 AM EDT
[#25]
Quote HistoryQuoted: Higher principle amounts need higher down payments, and considering how high rents are, that makes it harder to save enough for a down payment. There are first time home buyer programs and loans out there that require no down payment. |
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Posted: 8/4/2023 8:20:23 AM EDT
[#26]
Rent is too Damn High
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Posted: 8/4/2023 8:20:50 AM EDT
[#27]
Quote HistoryQuoted: Homes "back then" were much more modest. A 1200sqft 3/1, for example. unacceptable now, right? Quote HistoryQuoted: Quoted: Get both. Kids today are entitled, and back in the day a home could be afforded with just a high school education and one spouse staying home to raise the kids. So yeah, kids are entitled. But also, things are harder. unacceptable now, right? This is what staggers me, families are smaller [sometimes MUCH smaller] and yet, houses are three times the size with the associated maintenance cost increases and property taxes. And those houses three times the size are what so many younger people think of as ''starter homes.'' Yeah, daydream away. Also, the younger generation never thinks about how much the tax increases [ALL of them] have taken away money from them if they are in the ''average'' earner area. And many couldn't afford a house even if they could actually pay what they want for it because the property taxes on it would financially destroy them. Of course those would probably be the same people who want the government to ''fix'' all their troubles also. Welcome to 100K a year, 50K in take home pay when ALL taxes are said and done in all aspects of their life. |
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Posted: 8/4/2023 8:22:44 AM EDT
[#28]
Tell them you agree and the only way to stop this is to end the federal reserve, go back on a form of the gold standard, and to have politicians who never vote for spending more than the government brings in
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Posted: 8/4/2023 8:24:01 AM EDT
[#29]
Quote HistoryQuoted: Minimum wage didn’t break $5 an hour til 1999… Quote HistoryQuoted: Quoted: Lol. Bad at math boomers. The house my parents bought for 36k in 1977 sold last year for around 300k. Can you do the math to figure out if 36k at 20% is more desirable or not than 300k at 7%? Because I can. Let’s make no mistake, housing costs have inflated considerably faster than wages. Minimum wage didn’t break $5 an hour til 1999… Cool factoid. I’m sure you think you’re making a point here but minimum wage has always been pretty meaningless when it comes to trying to buy a house. |
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Posted: 8/4/2023 8:24:04 AM EDT
[#30]
At least they're thinking about it and talking about it.
So many just expect things to happen, until they don't. |
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Posted: 8/4/2023 8:26:21 AM EDT
[#31]
It would be a grand day if every generation alive today would gripe at the people that are really screwing them over.
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Posted: 8/4/2023 8:28:38 AM EDT
[#32]
Quote HistoryQuoted: Times are hard now, no one is debating this unless they are delusional. I was born in the late 70’s so so I’m Gen X, I do remember very well the days of just the man working and the wife staying home and raising the kids, and they seemed to have plenty of money for everything even though the man just worked at a factory or something. That is not possible in 2023, and hasn’t been possible for a long time now. That is absolutely bullshit. I know people who do just that, right now. Also, I think you overestimate the "plenty of money" factor. There is a difference between not worrying about paying the bills, and being able to just do whatever you want. The latter mindset is increasingly prevalent - if people can't buy their luxury goods on a whim, they don't think they have enough money. But if you make small sacrifices, buying and using things that are practical instead of insisting on the latest and greatest whatever, you can have enough money to not worry about bills while also not requiring multiple income streams and working oneself to death. The people you know growing up who you think had "plenty of money" were likely making such sacrifices. There is also the possibility that they actually were struggling, but did everything in their power to not show it. It used to be shameful to need to rely on public assistance and such. The vocal segment of the population the OP is discussing very clearly considers making any sacrifices to be unacceptable. |
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Posted: 8/4/2023 8:30:24 AM EDT
[#33]
I know people in their 20's with high school education who have purchased homes in the last couple of years. They learned trades; plumbing, hvac and electrician. They own homes in rural towns, where the property tax is also lower. Ironically they live below their means and are single.
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Posted: 8/4/2023 8:30:33 AM EDT
[#34]
In the communist cesspool known as Reddit, a guy shared his finances and how he couldn’t live on what was left over. Went through car payments, house, etc.
Another poster conveniently reminded the OP about his coin op video game collection and the room he had set up to house them as posted in another sub. The dog piling proceeded forthwith and much downvoting and dragging was enjoyed by all. |
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Posted: 8/4/2023 8:31:53 AM EDT
[#35]
Quote HistoryQuoted: Well, that's just... like... your opinion man. The thread is about younger folks who feel entitled to things that aren't realistic, not about "young Americans who have done all of the right things." Your point is moot. Right, because cancelling Netflix and skipping the extra foam on your latte will equal a mortgage payment. My point is that the entitled kids aren’t wrong, just not for the reason they think. The American system is currently broken and there is a whole generation getting fucked, and a majority can’t just boot strap out of it no matter how hard you work. |
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Posted: 8/4/2023 8:31:59 AM EDT
[#36]
Quote HistoryQuoted: Yeah, those are $400k+ right now in my area. It's wild. I would be thrilled to find a starter home for $250k. Quote HistoryQuoted: Quoted: Quoted: Get both. Kids today are entitled, and back in the day a home could be afforded with just a high school education and one spouse staying home to raise the kids. So yeah, kids are entitled. But also, things are harder. unacceptable now, right? I would be thrilled to find a starter home for $250k. Tell the zoomers all those cheap starter homes are now occupied by 6 illegal families from Honduras |
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Posted: 8/4/2023 8:33:28 AM EDT
[#37]
Quoted: One user said they could afford a house, but only a crap one that needed work and it was an hour from their job. They considered that commute unacceptable. That they expected their first house to be a nice house with a short commute... On the police department, I worked with numerous people who had hour to two hour commutes, and they made that drive 5 times a week. These people wanted certain types of homes, in certain types of neighborhoods, and they lived where they could afford to do that. |
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Posted: 8/4/2023 8:34:39 AM EDT
[#38]
Love threads like this.
All the posters shouting that a cheap starter home is 1200 sq ft with no central air (Like their parents bought back in nineteen tickety six for $20, a mule, and half a reel of bailing wire) are forgetting one crucial thing. BUILDERS AREN'T BUILDING THOSE. They don't want to build those. They make more $$$ on 2200 sq ft houses with more amenities. So thats what they build. And thats pretty much the market for first time home buyers. I bought a home in 2020, and had to build one because I literally could not afford to buy one already standing. And my wife and I were not able to save fast enough, so I was actually losing ground percentage wise on the down payment. So we built a home in a suburb, 2100 sg ft, 2 car garage. And it was about 80k cheaper than buying a similar structure. And for the fixer upper crowd, house flippers have fubared that market. Anything like that almost never makes it to market around here. And those that do are usually complete wrecks that end up costing more to rehabilitate than it would to build new. Hell, a 400 ft shack with no plumbing, no parking and a condemned outhouse sold for 110k...... |
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Posted: 8/4/2023 8:39:48 AM EDT
[#39]
Quote HistoryQuoted: This part doesn't get enough attention. Yeah, kids think the starter home is 2500sq ft with a two car garage, but that's all builders are building because of zoning laws and other regulation. They can't profit making a low cost small house, so they don't. These days 250k would be a great starter home, at least in my area, but the builders build the 400k house because that's what they are driven to thru government interference. Quote HistoryQuoted: Quoted: Quoted: Quoted: Get both. Kids today are entitled, and back in the day a home could be afforded with just a high school education and one spouse staying home to raise the kids. So yeah, kids are entitled. But also, things are harder. unacceptable now, right? The home you are describing costs about a quarter million anywhere within an hour of where I work unless it’s a structurally unsound shack in a ghetto that should probably have been condemned a decade ago. This part doesn't get enough attention. Yeah, kids think the starter home is 2500sq ft with a two car garage, but that's all builders are building because of zoning laws and other regulation. They can't profit making a low cost small house, so they don't. These days 250k would be a great starter home, at least in my area, but the builders build the 400k house because that's what they are driven to thru government interference. What used to be "starter homes" in my area are all walkable to the downtown area so they all cost $500k+ for a small 2 or 3 bedroom. I've been in my house less than 10 years. I couldn't afford the mortgage payment if I had to buy it today. |
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Posted: 8/4/2023 8:39:58 AM EDT
[#40]
Quote HistoryQuoted: This! Agree 100%. It wasn't that long ago that a guy with a high school education working full time as a janitor (supporting a wife and two kids) could still own his own home and a decent car or two. It was the American dream. I believe that this is no longer obtainable for many people in similar socio-economic situations now. I also don't know what the overall solution is. It was a 1000 sq ft house. One car No computers, video games, internet, cell phones. Only owned a couple of guns from the Sears catalog. Not nearly as much consumer spending on “toys” and things. Ate at home most meals. That is attainable today. Most people don’t want to live the life people lived 40 years ago. They want all the trappings of modern life. |
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Posted: 8/4/2023 8:40:33 AM EDT
[#41]
Quote HistoryQuoted: Get both. Kids today are entitled, and back in the day a home could be afforded with just a high school education and one spouse staying home to raise the kids. So yeah, kids are entitled. But also, things are harder. This. Interest rates are one thing. But the cost of living and the median home price relative to the median income is a world apart from what it was 40 years ago. |
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Posted: 8/4/2023 8:41:25 AM EDT
[#42]
Quote HistoryQuoted: Right, because cancelling Netflix and skipping the extra foam on your latte will equal a mortgage payment. My point is that the entitled kids aren’t wrong, just not for the reason they think. The American system is currently broken and there is a whole generation getting fucked, and a majority can’t just boot strap out of it no matter how hard you work. Quote HistoryQuoted: Quoted: Well, that's just... like... your opinion man. The thread is about younger folks who feel entitled to things that aren't realistic, not about "young Americans who have done all of the right things." Your point is moot. Right, because cancelling Netflix and skipping the extra foam on your latte will equal a mortgage payment. My point is that the entitled kids aren’t wrong, just not for the reason they think. The American system is currently broken and there is a whole generation getting fucked, and a majority can’t just boot strap out of it no matter how hard you work. Our economy IS fucked, but not for the reasons YOU think. The economy is fucked because those entitled kids vote for more spending, more socialism, and less personal responsibility. They don't want to have to do without those little creature comforts that you're disparaging. They want a cushy life handed to them on a silver platter and don't want to have to work for it. They want to be like those Twitter employees who were earning six figures while working only when they felt like it. Life's not like that. If you're lazy, then you SHOULD have to do without. If you're industrious, then you should be able to afford better things. The current mindset is that you should be able to afford those better things no matter how hard you work. "From each according to his abilities..." |
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Posted: 8/4/2023 8:43:10 AM EDT
[#43]
Quote HistoryQuoted: All the posters shouting that a cheap starter home is 1200 sq ft with no central air (Like their parents bought back in nineteen tickety six for $20, a mule, and half a reel of bailing wire) are forgetting one crucial thing. BUILDERS AREN'T BUILDING THOSE. They don't want to build those. They make more $$$ on 2200 sq ft houses with more amenities. So thats what they build. And thats pretty much the market for first time home buyers. Why do you expect a "starter home" to be brand new? I also think the current/recent builds are a combination of factors, which includes what the market (home buyers) says they want. Go poll the entitled types and see what they think is a proper home size and type. I'm betting that you will get a lot more votes for 2000+ sq ft 2-story than a 1200 sq ft ranch. I would also expect building trends to lag versus consumer demand in terms of size and style. So while some people are realizing they would be better suited to a 1200 sq ft ranch, it will take time for builders to transition to that, especially as the broader mentality needs to gravitate in that direction, not just a small portion. There are also other factors that have been mentioned by other posters, such as available land and zoning restrictions. |
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Posted: 8/4/2023 8:44:23 AM EDT
[#44]
Quote HistoryQuoted: The entitled generation doesn't need a $500k starter home. They need an actual starter home. They only think they need a home straight out of MTV's Cribs. My latest home purchase has appreciated over $100k in less than a year. You show me how young folks just starting out can save enough to keep up with that. |
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Posted: 8/4/2023 8:47:20 AM EDT
[#45]
Well, it is called a discord server, not concurrence server.
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Posted: 8/4/2023 8:48:21 AM EDT
[#46]
Quote HistoryQuoted: Our economy IS fucked, but not for the reasons YOU think. The economy is fucked because those entitled kids vote for more spending, more socialism, and less personal responsibility. They don't want to have to do without those little creature comforts that you're disparaging. They want a cushy life handed to them on a silver platter and don't want to have to work for it. They want to be like those Twitter employees who were earning six figures while working only when they felt like it. Life's not like that. If you're lazy, then you SHOULD have to do without. If you're industrious, then you should be able to afford better things. The current mindset is that you should be able to afford those better things no matter how hard you work. "From each according to his abilities..." I don’t think voting has changed the exponential growth of the US debt or the weakening of the US dollar. Compounded with the Fed printing money likes it’s going out of style and inflation outpacing wage growth by painful percentages are the reason I think the economy is fucked. I’m not trying to be a dick, my opinion is that your view the economy is messed up because kids are die franchised is short-sighted, I think the former causes the latter. |
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Posted: 8/4/2023 8:50:13 AM EDT
[#47]
My first mortgage, in 2000, was just over 7%. I made it work, I didn't eat out of party a whole lot, but I made it work.
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Posted: 8/4/2023 8:51:55 AM EDT
[#48]
Quote HistoryQuoted: The entitlement is real but wages haven’t quite caught up to the spike in home prices. https://www.ar15.com/media/mediaFiles/389528/IMG_4618_png-2907838.JPG Those aren't the facts we mean when we are bitching about kids and how they need to quit talking about feelings and think about facts (the facts are I'm better than they are and I feel special saying this). Get out of here with that shit. |
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Posted: 8/4/2023 8:52:19 AM EDT
[#49]
Quote HistoryQuoted: My latest home purchase has appreciated over $100k in less than a year. You show me how young folks just starting out can save enough to keep up with that. There is a current housing bubble, that is sure. But that is short-term, it is not a broader generational thing. For those who currently rent, it can be reasoned that it would be beneficial to continue to do so for another couple of years before buying a house, in expectation of a correction in the housing market. As I see it, the low rates that people are complaining about no longer having were a huge driving factor in the massive uptick in housing prices. It is similar to how the whole student loan thing has driven up college tuition - if people are easily able to borrow more money, and the people are willing to do so, then of course there are going to be people who raise their prices for no reason, because they can. Cheap money can be good for growth. But making it too cheap just starts inflating prices. |
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Posted: 8/4/2023 8:55:14 AM EDT
[#50]
Quote HistoryQuoted: Love threads like this. All the posters shouting that a cheap starter home is 1200 sq ft with no central air (Like their parents bought back in nineteen tickety six for $20, a mule, and half a reel of bailing wire) are forgetting one crucial thing. BUILDERS AREN'T BUILDING THOSE. They don't want to build those. They make more $$$ on 2200 sq ft houses with more amenities. So thats what they build. And thats pretty much the market for first time home buyers. I bought a home in 2020, and had to build one because I literally could not afford to buy one already standing. And my wife and I were not able to save fast enough, so I was actually losing ground percentage wise on the down payment. So we built a home in a suburb, 2100 sg ft, 2 car garage. And it was about 80k cheaper than buying a similar structure. And for the fixer upper crowd, house flippers have fubared that market. Anything like that almost never makes it to market around here. And those that do are usually complete wrecks that end up costing more to rehabilitate than it would to build new. Hell, a 400 ft shack with no plumbing, no parking and a condemned outhouse sold for 110k...... And that dilapidated shack built in the 1960s with a failing foundation, busted drain lines, aluminum wiring, rusted out plumbing, and a roof in need of replacement, and 30+ year old fixtures is sitting on a very valuable quarter acre of land and is $250,000. Or you buy farther out, get something that isn’t about to fall over on itself, but since it is newer and a bit bigger you’re looking at $300,000. If you go farther out then that you can pay somewhere around that same price for a small house and a few acres… and enjoy your hour and a half commute to work. Hope you aren’t on 12 hour shifts. The cheap starter home these folks think exists does not exist in any areas that aren’t economically dead. |
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