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Message
re: The High Cost of a Home Is Turning American Millennials Into the New Serfs
Posted on 8/23/17 at 4:04 pm to Clames
Posted on 8/23/17 at 4:04 pm to Clames
quote:
Your problem is you only have your data and zero context to go with it. I can read the same data and also apply personal experience of having worked on homes and residential remodels in those areas. Someday when you really grow up and stop being the usual idiotic Google-has-all-my-answers millennial you'll understand why just citing data you had no hand in compiling and no real experience to interpret in depth is never going to make an intelligent argument.
This might be my favorite post in this thread.
When faced with objective data that refutes your point, you seamlessly transitioned to the "real world experience" argument. Bravo, you've done your generation proud.
Posted on 8/23/17 at 4:05 pm to GFunk
quote:
he article quoted earlier does not at any point mention that 40-50% higher income is experienced in urban areas versus rural.
I meant of the extra money you make, could be $1,000 or $5,000 or $10,000, you are still keeping 40-50% after COL adjustments, so while yes, you are spending more you are not outspending the increase in pay.
quote:
LP, AP and Tangi have grown like weeds EXACTLY because of this program and programs like it.
I'm not saying they haven't. You can still take advantage of those programs in mid sized cities in Baton Rouge, but what about large urban areas like Dallas or Houston or Atlanta? I'm guessing (and you may know, I certainty do not) the commute would be around 2 hours to qualify for rural development loans.
That's what I meant. Jobs and opportunities are leaving small cities and towns and moving to the metroplexes. You can't expect people to commute 2 hours to finance their house.
So, it's harder to get a job where using the rural development loan is an option and using it in large metro's is not an option. That's my point. I agree if you want to own a home, don't have 20% for a DP, but won't move 20 minutes outside BR to get the RD loan, then, yeah that's on you.
Posted on 8/23/17 at 4:14 pm to slackster
It's a nice variant of the ole "my feelings are as important as your facts" argument.
Posted on 8/23/17 at 4:14 pm to GreatLakesTiger24
quote:
Who said they are spoiled?
quote:
As more millennials overcome this, many want the life of their baby-boomer parents -- the kids, the house in the ’burbs and the beefy SUV.
Your own article alluded to it.
Posted on 8/23/17 at 4:18 pm to GeorgeTheGreek
quote:
Your own article alluded to it.
Wanting what your parents have/had does not necessarily equate to being "spoiled," it is natural.
Every generation has wanted what their parents had or better. I assume pretty much everyone certainly didn't want less.
TV? I say no, I want to live outside, in the woods, on a bed of leaves. That'll show everyone I'm not spoiled.
This post was edited on 8/23/17 at 4:20 pm
Posted on 8/23/17 at 4:27 pm to GeorgeTheGreek
That's a bit of a reach
Posted on 8/23/17 at 4:37 pm to Mingo Was His NameO
quote:
Mingo Was His NameO
quote:
I'm not saying they haven't. You can still take advantage of those programs in mid sized cities in Baton Rouge, but what about large urban areas like Dallas or Houston or Atlanta? I'm guessing (and you may know, I certainty do not) the commute would be around 2 hours to qualify for rural development loans.
That's what I meant. Jobs and opportunities are leaving small cities and towns and moving to the metroplexes. You can't expect people to commute 2 hours to finance their house.
Your entire point was that it was a bonus and that people aren't actually making decisions on where they lived based on factors like the cost of owning a home, which the Section 502/538 Loans are huge parts and factors of for millions of people.
You don't seriously think that $25,000,000,000.00USD is being lent each year through this program strictly in the 5 Parish Metro BR area, do you? GMFS is one of the larger in-state lenders in LA and last year they were/are proud to say they lent a billion. But they work outside of LA also.
Now imagine TWENTY-FIVE TIMES THAT AMOUNT. These are conventional mortgages from a Max Purchase Price amount also...We're talking under $417K in each instance. So there aren't a bunch of McMansion Ranches being bought in rural areas per se. It's people who are living in "rural," suburbs who are commuting it for those opportunities and-by virtue of building the tax base up there-slowly building the cities and the opportunities out.
quote:
So, it's harder to get a job where using the rural development loan is an option and using it in large metro's is not an option. That's my point. I agree if you want to own a home, don't have 20% for a DP, but won't move 20 minutes outside BR to get the RD loan, then, yeah that's on you.
Okay, so let's unpack this with a little real world research:
I just did a basic search for, "The 10 Best Dallas Suburbs for Families," on Google and that link came back.
60% of the Top 5 including 100% of the Top 2 are both USDA RD eligible.
Let's go to Houston next...
The Woodlands were RD Eligible until they grew so much I believe they're considered a "transitional," area now. It may have actually recently considered urban. But for years the flock of people there-in part fueled by getting more home for your money with products like the ones I'm talking about-shows people will commute.
I'm leaving for the day but I think I'll leave Atlanta for now. Your entire point earlier was that people don't buy their home based on what you considered a "bonus," and I think the statistics I'm referencing and research I'm doing prove they'll do EXACTLY that. Which basically negates the point you're driving at.
Posted on 8/23/17 at 4:38 pm to GFunk
FHA was 3.5% down. Now I believe it's even less.
Posted on 8/23/17 at 4:44 pm to CorporateTiger
quote:
It's a nice variant of the ole "my feelings are as important as your facts" argument.
This thread has been a shite show from the start. Facts be damned, no one is changing anyone's mind.
I'm not sure about other millennials, but I'm not looking for pity from anyone. I simply find it comical that people think a millenial has it so much better than other generations with respect to the economy. That is objectively false.
Posted on 8/23/17 at 4:47 pm to slackster
Oh yeah. I'm a milennial doing perfectly fine. I don't need a bailout or anything.
Posted on 8/23/17 at 4:50 pm to CorporateTiger
quote:
's a nice variant of the ole "my feelings are as important as your facts" argument.
Would you rather buy a house in 1981 or 2017?
Posted on 8/23/17 at 4:58 pm to slackster
quote:
That is objectively false.
Its actually not, you're just picking and choosing.
I'd say objectively today's young people have it worse than people in the 60s (if you remove quality of life factors) and objectively better than late 70s and early 80s.
My age group had nothing in common with those born 10 years before or after.
This post was edited on 8/23/17 at 5:00 pm
Posted on 8/23/17 at 5:06 pm to RogerTheShrubber
quote:
I'd say
quote:
objectively
Does not compute.
Posted on 8/23/17 at 5:08 pm to Mingo Was His NameO
quote:
Does not compute.
You never say anything objectively? I can believe that
Posted on 8/23/17 at 5:54 pm to slackster
quote:posting facts and data is clearly begging for sympathy and the sure sign of a loser
but I'm not looking for pity from anyone.
Posted on 8/23/17 at 6:47 pm to GreatLakesTiger24
This idea that they can't afford a house is ridiculous. Pre-fabricated homes are very affordable for all income groups.
Posted on 8/23/17 at 9:29 pm to Champagne
Yeah, so ridiculous in spite of all the factual evidence posted in this thread.
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