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re: WSJ Piece: Young Americans Are Getting Left Behind by Rising Home Prices, Higher Stocks
Posted on 4/27/24 at 4:52 pm to Limitlesstigers
Posted on 4/27/24 at 4:52 pm to Limitlesstigers
quote:
Because none of those places have jobs, dipshit. The Boomer School of Economics strikes again.
I love that an entire generation views themselves as housing investment geniuses because they were able to buy reasonable starter homes in attractive areas and then got to watch their equity skyrocket over the course of their lives because they kept supporting restrictive NIMBY zoning bullshite. Now that they’ve completely strangled the attractive areas to live, their solution is to tell people to go live where no one in the several hundred year history of this nation has ever wanted to live
4
Posted on 4/27/24 at 4:57 pm to Joshjrn
quote:
I love that an entire generation views themselves as housing investment geniuses because they were able to buy reasonable starter homes in attractive areas and then got to watch their equity skyrocket over the course of their lives because they kept supporting restrictive NIMBY zoning bullshite. Now that they’ve completely strangled the attractive areas to live, their solution is to tell people to go live where no one in the several hundred year history of this nation has ever wanted to live
Posted on 4/27/24 at 5:27 pm to Joshjrn
quote:
love that an entire generation views themselves as housing investment geniuses because they were able to buy reasonable starter homes in attractive areas and then got to watch their equity skyrocket over the course of their lives because they kept supporting restrictive NIMBY zoning bullshite. Now that they’ve completely strangled the attractive areas to live, their solution is to tell people to go live where no one in the several hundred year history of this nation has ever wanted to live ?
I don't know if they're generally this stupid (maybe the leaded gasoline had an effect on their ability to conceptualize things) or they're just coping with the fact that they have made a ton of mistakes running this country and don't want to admit defeat.
Every dumb take online I see on economics is either some blue haired Zoomer or a BoomerCon.
This post was edited on 4/27/24 at 5:30 pm
Posted on 4/27/24 at 5:28 pm to Joshjrn
You can see the absurdly shortsightedness in a few posters here.
The "figure it out like we did" and "just buy a smaller house" type responses.
I have no gripe here as I've secured a home with a 3% interest rate and am actually looking to buy a 2nd house in the next year. Right now is just not comparable to historical markets.
Personally, I think prices will come down a bit in the next couple of years and make things more reasonable but I don't blame any young person right now for renting.
The "figure it out like we did" and "just buy a smaller house" type responses.
I have no gripe here as I've secured a home with a 3% interest rate and am actually looking to buy a 2nd house in the next year. Right now is just not comparable to historical markets.
Personally, I think prices will come down a bit in the next couple of years and make things more reasonable but I don't blame any young person right now for renting.
Posted on 4/28/24 at 9:42 am to Joshjrn
quote:
love that an entire generation views themselves as housing investment geniuses because they were able to buy reasonable starter homes in attractive areas and then got to watch their equity skyrocket over the course of their lives because they kept supporting restrictive NIMBY zoning bullshite
You do realize that they came of age in the 70s when we had stagflation? And had to face double digit interest rates?
Still better than now in terms of housing, since affordability is the worst in history, but that's the fault of Blackrock.
Stocks don't belong in the discussion. There's never a bad time for a young person to jump into the market. If it doesn't grow in the long run they're boned anyway.
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