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Started By
Message
re: Major social unrest is coming
Posted on 4/26/22 at 10:11 am to Eli Goldfinger
Posted on 4/26/22 at 10:11 am to Eli Goldfinger
quote:
The cost barriers to homeownership have prevented younger millennials and zoomers from entering the market and achieving “the American Dream”.
quote:
nd has several younger architects under her supervision. They’re all making around $55K, yet they all rent and have roommates
So did I, when i was starting out. I rented. Are they expecting to have a 3000 sf house 3 years into their career? Get married, have joint income, buy a house. I didn't buy my first home until i was 30.
quote:
No young person starting out in a professional career can afford a $400K home
Nor should they.
quote:
For all the sh!t we give younger folks, I do feel for them.
A lot of "young people" want the blessings of what working for 15-20 years gets you, after only working for 3-5 years. Lower your aim. You'll get there eventually.
0
Posted on 4/26/22 at 10:13 am to weagle99
quote:They don't.
Do you folks believe in Capitalism and the free market or not?
It's an instant gratification culture. No one wants to grind for anything anymore. It's 6 years of undergrad, dicking around, soaking up loans, get some goofy degree and expect 100K out of the gate.
Posted on 4/26/22 at 10:13 am to VoxDawg
quote:
Anyone who buys a house right now at the peak of this insane market is just asking for trouble.
It's a messy situation that I'm glad I'm not in. I was watching a video where this guy was saying that perhaps rates of 8%+ might finally help cool things off. Okay so even if prices do come down, you're paying a rate that we haven' seen since...what...the 90's? I wouldn't want that note.
Posted on 4/26/22 at 10:14 am 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.
The Zoomers can thank cheap money and real estate investment companies for inflated home prices
Posted on 4/26/22 at 10:17 am to Bass Tiger
quote:
The Zoomers can thank cheap money and real estate investment companies for inflated home prices
And this is their fault how?
Oh that is right, they just need to work harder and pull themselves up the bootstraps, eh? lmaoo.
Posted on 4/26/22 at 10:17 am to thunderbird1100
thunderbird, what does it cost to lease in that area?
Also, are there more affordable housing further out in the burbs of ATL?
Rates seem high now, but they certainly aren't historically high:
Historical Rate Chart
Also, are there more affordable housing further out in the burbs of ATL?
Rates seem high now, but they certainly aren't historically high:
Historical Rate Chart
Posted on 4/26/22 at 10:20 am to Eli Goldfinger
All I know is what happened last time this issue happened. Congress stepped in and told banks to start giving folks loans who couldn't afford them ad the market popped.
Posted on 4/26/22 at 10:21 am to jclem11
quote:
Oh that is right, they just need to work harder and pull themselves up the bootstraps, eh?
Ummm....yeah.
Posted on 4/26/22 at 10:21 am to weagle99
quote:
And Millennials could have more money in their checks if they didn’t want employers to provide all sorts of benefits.
What benefits are you referring to?
Posted on 4/26/22 at 10:22 am to WildManGoose
quote:
In the context of what he said? Save and live within your means. What has changed to affect that?
The means part. The cost of things like a home or even utilities are far outpacing wages. As someone mentioned earlier, these "starter homes" are likely in the $300k range right now. So much for a starter home.
Posted on 4/26/22 at 10:23 am to riccoar
quote:
All I know is what happened last time this issue happened. Congress stepped in and told banks to start giving folks loans who couldn't afford them ad the market popped.
And then they bailed out all the too big to fail banks! So nothing changed!
Posted on 4/26/22 at 10:24 am to Eli Goldfinger
Uhhhm . . . I'm 53 and when I first entered the job market, I rented and had roomies. In fact, I can't think of anyone that I know who graduated, started work and bought a house.
Posted on 4/26/22 at 10:25 am to DingLeeBerry
quote:
They should get one of those high paying remote jobs and enjoy the fresh air.
I have one of those.
I live around an hour west of Nashville, our combined income is over $200K, and it would STILL be painful to buy a hone out here if we were just now entering the market.
Posted on 4/26/22 at 10:25 am to Eli Goldfinger
quote:We need you to make this into one of those memes with the sweating guy deciding which cognitive button to push - on the one hand, we have your post. On the other, we have the usual board liturgy of absolutely refusing to recognize that it's harder to do things like own homes for the current generation than it was for boomers and xers.
The cost barriers to homeownership have prevented younger millennials and zoomers from entering the market and achieving “the American Dream”.
My wife is an architect and has several younger architects under her supervision. They’re all making around $55K, yet they all rent and have roommates. Now this is Nashville, so housing costs are REALLY out of control, but it’s everywhere really.
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.
Posted on 4/26/22 at 10:26 am to Gravitiger
quote:
People bitch about liberal arts majors, but this is what architects in an established firm in a booming city are making?
Young architects who aren’t yet licensed, yes.
Posted on 4/26/22 at 10:27 am to Lynxrufus2012
quote:
Hell, I couldn't afford today to buy where I am living.
This....they should buy some thing they can afford; not a difficult concept
Posted on 4/26/22 at 10:29 am to Big Scrub TX
quote:
We need you to make this into one of those memes with the sweating guy deciding which cognitive button to push - on the one hand, we have your post. On the other, we have the usual board liturgy of absolutely refusing to recognize that it's harder to do things like own homes for the current generation than it was for boomers and xers.
Is it really that hard to understand how detrimentally the explosion in growth of government has harmed generations of people?
Posted on 4/26/22 at 10:29 am to Eli Goldfinger
How many square feet? How old is the home?
Planned community?
Planned community?
Posted on 4/26/22 at 10:30 am to Eli Goldfinger
In my area, the average listing price is $925k. That’s not a misprint. It’s absurd.
If anything pops up for less, it’s going to be bulldozed. If we didn’t already live here, we couldn’t live here.
I don’t know what the answer is. One thing I’d love to see is for companies that rely on H1-B visas to be penalized. Jobs that should be available for our younger generation are being filled by cheap imported labor. If $80k jobs paid $80k, that would be at least a starting point.
If anything pops up for less, it’s going to be bulldozed. If we didn’t already live here, we couldn’t live here.
I don’t know what the answer is. One thing I’d love to see is for companies that rely on H1-B visas to be penalized. Jobs that should be available for our younger generation are being filled by cheap imported labor. If $80k jobs paid $80k, that would be at least a starting point.
Posted on 4/26/22 at 10:31 am to BugAC
These threads always go the same way. Oldheads with their heads buried in the sand and their rose tinted glasses blame the younger generations for being rightfully outrageous at the shite sandwich that we have been dealt.
Don't forget millennials have lived through 3 "once in a lifetime" crises and we are just entering middle age for the oldest of the cohort.
Don't forget millennials have lived through 3 "once in a lifetime" crises and we are just entering middle age for the oldest of the cohort.
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