Nobody's holding a gun to their heads forcing them to borrow every cent they borrow just because they can for school.

Take a look around the roadways today - the vast majority of cars and trucks nicer than yours are driven by millennials. They focus too much on the "cheap" monthly cost rather than the overall cost. This drives up their debt, restraining the majority of their monthly income. Forcing them to rent instead of buy a home.

They rent way more than any other generation does. They're throwing their money away on something they'll never call their own. Many of them are renting because they've made stupid decisions earlier in their life (such as borrowing entirely too much, whether for school, cars, retail stores, etc.). They can't afford to buy a home and start a family in a home of their own.

So many of them are moving back in with their parents as well. This further deteriorates the economy since they're literally contributing nothing to society in many, many of those cases. It's very likely that the reason they moved back in with parents is because they don't have a job, due to their habits. This generation has no job-hunting skills whatsoever. Trust me, I see their resume's and cover letters (if they actually submit one) all the time. It's not hard at all to stick out above the rest in this generation. All they have to do is simply misspell only a few words on their resume and submit a one-paragraph cover letter and they're immediately standing out. It's very pathetic, really.

The millennial generation is truly pathetic. They're doomed later in life.

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Posted by More beer please

Member since Feb 2010

45125 posts

Posted on 8/5/15 at 9:15 am to TDsngumbo

quote:
Many of them are renting because they've made stupid decisions earlier in their life (such as borrowing entirely too much, whether for school

Yeah damn young kids for trying to go through school, better themselves and get an education that used to be dirt cheap for the older generations.

quote:
It's very likely that the reason they moved back in with parents is because they don't have a job, due to their habits.

I don't have a single friend like this.

Why aren't you pointing the finger towards the people that raised such a "terrible" generation?

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Posted by NYNolaguy1

Member since May 2011

20957 posts

Posted on 8/5/15 at 9:44 am to TDsngumbo

quote:
Nobody's holding a gun to their heads forcing them to borrow every cent they borrow just because they can for school.

So you're advocating not going to college, I get it. Plenty of blue collar jobs that pay more than degreed jobs.

quote:
Take a look around the roadways today - the vast majority of cars and trucks nicer than yours are driven by millennials. They focus too much on the "cheap" monthly cost rather than the overall cost. This drives up their debt, restraining the majority of their monthly income. Forcing them to rent instead of buy a home.

That's a big stretch. How much do you think people spend on their car note? How much is rent in BR/NOLA ATM? Maybe 700-1200/month? You really think the car note is displacing that spending?

quote:
They rent way more than any other generation does. They're throwing their money away on something they'll never call their own. Many of them are renting because they've made stupid decisions earlier in their life (such as borrowing entirely too much, whether for school, cars, retail stores, etc.). They can't afford to buy a home and start a family in a home of their own.

First you criticize borrowing too much, then say they aren't borrowing enough... Which is it? Also, millenials didn't set the astronomical tutition prices. Also, how is getting an engineering degree, a medical degree, an accounting degree a 'stupid decision'? I think you could better direct your criticism at what kids are studying, not how much it costs. The ROI is vastly different dependant on degree.

quote:
So many of them are moving back in with their parents as well. This further deteriorates the economy since they're literally contributing nothing to society in many, many of those cases. It's very likely that the reason they moved back in with parents is because they don't have a job, due to their habits. This generation has no job-hunting skills whatsoever. Trust me, I see their resume's and cover letters (if they actually submit one) all the time. It's not hard at all to stick out above the rest in this generation. All they have to do is simply misspell only a few words on their resume and submit a one-paragraph cover letter and they're immediately standing out. It's very pathetic, really.

This is dumb. Working a full time big boy job and living at home can save oodles of money. I know a millenial couple- one an engineer and the other a lawyer living with their parents. They are saving over $4.5k/month to pay off law school loans and save for a very big down payment on a house. According to your rant, they contribute nothing to society and are "doomed". Would it make you happier to pay off someone else's mortgage in rent in the meantime?

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Posted by brodeo

Member since Feb 2013

1850 posts

Posted on 8/5/15 at 11:31 am to TDsngumbo

quote:
Take a look around the roadways today - the vast majority of cars and trucks nicer than yours are driven by millennials.

Where the f&%k are you driving? The only place I ever see millennials driving nice cars are on college campuses where those cars were given to them by their parents. Everywhere else, their cars are generally no more flashy than a gently used camry or some old POS.

quote:
They rent way more than any other generation does.

That's because they are so saddled with debt that they can't afford a down payment or even if they could, their massive levels of debt prevent them from qualifying for loans.

This generation hates sitting in traffic (partially because most of them can't afford cars) so they have to rent close to their work. Where are the jobs? Cities. Where is housing close to jobs? In cities. They rent because they have to or because their economic situation makes it advantageous.

For young workers, employers have no loyalty and demand that employees be able to move across the country at a moment's notice. Renting makes that easier.

quote:
So many of them are moving back in with their parents as well. This further deteriorates the economy since they're literally contributing nothing to society in many, many of those cases.

You have it backwards. They're not causing economic decline because they're living with their parents. They're living with their parents because of economic decline. They live with their parents because housing prices are crazy, they're saddled with tons of debt, and their jobs don't pay enough for them to afford their own places, so they live with their parents until they can get promoted and save up for a down payment on a house. It's responsible financial decision-behavior.

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This generation has no job-hunting skills whatsoever.

False. Job hunting is just more difficult due to our modern HR culture. Those doing the hiring are not the same as those performing the jobs, and not the same as those teaching prospective workers how to work in that industry, causing a massive disconnect between what companies need, what companies look for in applicants, and what applicants actually know. The "experience" gap is real. It's hard to start climbing the ladder when the first rung requires "5 years relevant experience" that can only be gained by already being on that first rung.

quote:
The millennial generation is truly pathetic. They're doomed later in life.

We agree on the latter, but not on the former. Billionaire or Bust, this generation is.

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Posted by OMLandshark

Member since Apr 2009

109706 posts

Posted on 8/5/15 at 12:32 pm to TDsngumbo

quote:
Take a look around the roadways today - the vast majority of cars and trucks nicer than yours are driven by millennials.

That's a complete load of shite. My generation isn't obsessed at all with cars. In fact, the nicer the car, the more we suspect that the driver is clearly trying to make up for massive insecurities.

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They focus too much on the "cheap" monthly cost rather than the overall cost. This drives up their debt, restraining the majority of their monthly income. Forcing them to rent instead of buy a home.

Oh yeah, let's follow your generation's example by taking out mortgages we don't want or can't afford and then let the country spiral out of control. Sorry, but I have no reason to buy a house as a single bachelor in my 20s. That would be an insanely stupid thing for me to do at this age.

quote:
They rent way more than any other generation does. They're throwing their money away on something they'll never call their own. Many of them are renting because they've made stupid decisions earlier in their life (such as borrowing entirely too much, whether for school, cars, retail stores, etc.). They can't afford to buy a home and start a family in a home of their own.

Hate to break it to you, but the 1950s are fricking dead and they're not coming back. Almost everyone who isn't married/doesn't have kids that live in cities don't want to live in a house. They like apartments, and it's not because they made stupid decisions. Less upkeep, and if I want to move to a neighborhood I discover I like more, then it's no big deal and I don't have to go through a major hassle with a mortgage and selling the house. Such a ridiculous argument.

quote:
This generation has no job-hunting skills whatsoever.

Hmmm, can't be because there are a whole lot more people with much less jobs that require ridiculous qualifications to get them, now would it?

quote:
The millennial generation is truly pathetic. They're doomed later in life.

Yeah, frick you. An article came out today that 22% of millenials are aready taking care of their parents (ie: Baby Boomers). We're going to have to clean up your shitty mess and have to suffer the consequences for your generation's mistakes. Hope you enjoy your retirement at the age of 80 and then you complain that people in their 40s aren't qualified for their jobs that you had when you were 30 at their age.