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re: Major social unrest is coming
Posted on 4/26/22 at 10:00 pm to TigerOnTheMountain
Posted on 4/26/22 at 10:00 pm to TigerOnTheMountain
quote:
quote:
What does dramatically lower sperm counts and testosterone levels of millennials/Gen-Zs compared to Gen-X/Boomers have to do with home prices?
You are not a serious person. That much is obvious.
Well, I didn’t intend to make anybody cry. Was trying to be a little humorous with a little dig. Apologies if it hit a sensitive spot for you.
0
Posted on 4/26/22 at 10:05 pm to Eli Goldfinger
quote:
No young person starting out in a professional career can afford a $400K home without serious help from their family. I bought my first home at 26, but there is no way I could do that today. For all the sh!t we give younger folks, I do feel for them.
Oh, baloney. I have four kids, and they have three houses. All three of them had houses by the time they were 29. The one who doesn’t have a house could easily afford one but not where she lives in L.A.
What they have in common is that they’re not lazy fricks. The young people who make the poor-me case live like kings, so they don’t have money to buy houses. Quit going on bachelor trips to The Dominican Republic, buying designer shite, paying for streaming services, etc. Take all that money you save and buy a house like a grownup.
Posted on 4/26/22 at 10:05 pm to LSUAlum2001
quote:
You know what prior generations did? Bought in the suburbs and made the long drive to work.
Where do you suppose they go? Just did a quick search and the average home prices of most of the parishes surrounding BR and NOLA is about $250k. And that’s probably really offset by some shitty areas. A mortgage on a house that much should run you about $1400/month. Who can afford that on about $700/wk take home?
I’m not insinuating you are somehow entitled to own a house, but the boomer view that you should be about to get a job and buy a home is very antiquated at this point.
Posted on 4/26/22 at 10:06 pm to VoxDawg
quote:
Anyone who buys a house right now at the peak of this insane market is just asking for trouble
Here! My wife and I have been lucky on the market timing on our previous homes, but we’re making up for that by building now. I can’t believe what this is costing!
Posted on 4/26/22 at 10:11 pm to Eli Goldfinger
When you’re single, rent. If you get married, rent until you save up enough to buy your first house. It’s not going to be in the swank downtown area.
My wife and I rented and commuted into Charlotte for two years…45 mins each way if your lucky.
Sounds to me like they’re bitching because they can’t afford what they want rather than trying to focus on what they can afford.
My wife and I rented and commuted into Charlotte for two years…45 mins each way if your lucky.
Sounds to me like they’re bitching because they can’t afford what they want rather than trying to focus on what they can afford.
Posted on 4/26/22 at 10:25 pm to elprez00
quote:
I’m not insinuating you are somehow entitled to own a house, but the boomer view that you should be about to get a job and buy a home is very antiquated at this point.
That’s not a boomer view. I don’t think anybody has believed it’s automatic and easy. Maybe that’s the problem - young people didn’t grow up in homes where dad bitched all night about how hard shite was. I didn’t, and my kids didn’t, that’s for sure.
In these kinds of threads the last few months we’ve seen millennials argue it was more expensive to feed yourself today (it’s not) and drive a car (it’s not). Offline I actually had a fun discussion with a millennial who made the argument that it was easier when boomers were kids and raising their families to have the family dog. Boomers could just go to the pen, grab a mutt, feed it from a 50 lb bag of cheap food, and use a garden hose and old towel to wash it. But today you have buy the family dog for a few thousand dollars, the puppy spa is $80 per month, blah, blah, blah. And as I think about it, this “discussion” is exactly like the housing discussion in this thread. It’s all about feelings rather than an understanding of the real estate market and economics, and wants are consistently confused for needs.
Posted on 4/26/22 at 10:32 pm to LSUAlum2001
quote:
You know what prior generations did? Bought in the suburbs and made the long drive to work.
Suburbs aren’t that much cheaper. Especially if you have kids in the mix and want to live in a decent school district. Also living outside the city means you pretty much have to have a reliable vehicle since mass trans isn’t an option. Adding a car payment plus gas would eat up any savings you might have pretty quick.
Posted on 4/26/22 at 10:39 pm to SquatchDawg
quote:
Sounds to me like they’re bitching because they can’t afford what they want rather than trying to focus on what they can afford.
Instagram says hello to what it created.
Posted on 4/26/22 at 10:42 pm to Gorlock
quote:
B: I want my parent's house, not a starter home
My wife and I bought a house in 2013 for 155k. It was the very definition of a starter home. We sold it last year for 270k. The only improvement we made to the house was new landscaping.
Posted on 4/26/22 at 10:46 pm to 0
quote:
My wife and I bought a house in 2013 for 155k. It was the very definition of a starter home. We sold it last year for 270k. The only improvement we made to the house was new landscaping.
That’s great. You timed the market perfectly. Bought after the last housing bubble burst, and sold during a white hot market.
Posted on 4/26/22 at 10:48 pm to elprez00
quote:
but the boomer view that you should be about to get a job and buy a home is very antiquated at this point.
My daughter will be fascinated to learn that she’s a boomer at the ripe old age of 25.
Yes, housing sucks right now. Having a mortgage interest rate in the teens sucked in the 70s. Having to sell a house in 2009 sucked. It’s probably not permanent and you’re not the first group of people to face difficulties.
This post was edited on 4/26/22 at 10:53 pm
Posted on 4/26/22 at 10:51 pm to HubbaBubba
Avg architect salary is 96k?
Well that makes me feel better about my college/career path
Well that makes me feel better about my college/career path
Posted on 4/27/22 at 1:53 am to Eli Goldfinger
While I don’t disagree with you that the housing market is really screwed up right now, your example actually illustrates in part how it got that way. You claim how any young person starting their career can afford a 400k home in 55k year salary. Well obviously they can’t but also they shouldn’t expect it. Too many young people over leverage themselves by buying too much house and the shitty lenders don’t help matters by offering loans well over the amounts they should. Whatever happened to buying a modest starter home, living in it for several years and while it builds equity over time, your income level also increases over time as you move up the ladder in your career field . Then down the road you sell, take your equity and your now higher income level and buy the bigger nicer home.
Posted on 4/27/22 at 2:53 am to LSUAlum2001
quote:
You know what prior generations did? Bought in the suburbs and made the long drive to work.
Previous generations could buy a modest starter home close to their workplace with one income. We need to stop pretending something isn’t wrong. I don’t know about you, but I don’t want my kids eating the bug and living in the pod while they chant “You’ll own nothing, and love it”.
Posted on 4/27/22 at 3:07 am to DesScorp
quote:
We need to stop pretending something isn’t wrong.
Something is very wrong. People live well beyond their means. If we want something now we just take out a loan or put it on the ole credit cards. Working construction during the summer breaks……. Nah I’m just going to spend time “finding myself”. The American dream is alive and well. Just check out the kids from India and Vietnam. While little sister is drinking herself three sheets in the wind at the social those kids are studying. I worked summers in the heat. I waited tables during the school year. I graduated from college without owing a dime. I have made over $100K a year since turning 30.
The only note I have now is a house note. I’m looking at retiring at 55. It’s not that difficult.
Posted on 4/27/22 at 6:57 am to elprez00
quote:
Where do you suppose they go? Just did a quick search and the average home prices of most of the parishes surrounding BR and NOLA is about $250k. And that’s probably really offset by some shitty areas. A mortgage on a house that much should run you about $1400/month. Who can afford that on about $700/wk take home?
I’m not insinuating you are somehow entitled to own a house, but the boomer view that you should be about to get a job and buy a home is very antiquated at this point.
The median home price in Baton Rouge is 202K according to the link below. Half of the houses sold were under this amount and half were above this amount.
I'm Gen X, when I got out of college I couldn't afford to buy a house either. Like most of my other friends, I had roommate/s and saved money until I was in a position to buy.
LINK
Posted on 4/27/22 at 7:16 am to cyarrr
We sold our first home in 2020 (bought in 2009) and naturally it sold for near double original price.
One thing that was a bit depressing was watching young couples with solid down-payments get outbid by cash buyers from CA. I really wanted to accept the offers of the young couples, but the cash buyers bidding up just made it easier on us.
One thing that was a bit depressing was watching young couples with solid down-payments get outbid by cash buyers from CA. I really wanted to accept the offers of the young couples, but the cash buyers bidding up just made it easier on us.
Posted on 4/27/22 at 7:23 am to LSUfan20005
quote:a significant # of homeowners couldn't afford to buy the house they own and live in now. that's extremely troubling.
We sold our first home in 2020 (bought in 2009) and naturally it sold for near double original price.
Posted on 4/27/22 at 7:30 am to YumYum Sauce
quote:
The fact that a 20 something thinks they deserve a 400k house is laughable
We bought our first house in 95 (we were both 27). 3br 2.5 bath, new construction for 129k at 6%. We could have bought "more" house, but didn't want to be strapped.
This is not the thinking these days.
Posted on 4/27/22 at 7:31 am to Pookers
quote:
Boomers didn't have to compete against a bunch of foreigners and blackrock capital when purchasing homes.
Elections have consequences
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