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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 11:23 am to Joshjrn
Posted on 4/27/24 at 11:23 am to Joshjrn
quote:
Trump spent and printed like a drunken sailor and accused anyone who talked about raising interest rates to get in front of inflation of trying to sabotage his presidency
He wanted to spend $5B to build the border wall, he was told that was too expensive. Biden spent $5B to build 7 EV charging stations but promised 500k.
1
Posted on 4/27/24 at 11:30 am to Picayuner
quote:
A bigger problem is people wanting to keep up with the Jones. My parents (WWII) raised 8 kids in an 1100 sq ft. house and it never seemed like it was too small. People have too much JUNK instead of cash. I have a 2600 sq ft home and now that the kids are gone it’s too damn big. I now realize it was all a waste of money even though I dont accumulate JUNK. But of course the wife does as is the norm.
Notice your appeal to a generation that well before now.
Standards of living, minus the various retail luxuries like cell phones and laptops, are falling.
Housing, healthcare, automobiles, food, and energy are up across the board.
Almost everything referenced as "proof" of better economic conditions is in technology (not medical technology) or entertainment. There's no disputing this.
This post was edited on 4/27/24 at 11:31 am
Posted on 4/27/24 at 11:34 am to Bring Da Wood
quote:
The majority of young voters voted for Biden. So basically they’re getting what they voted for. Elections have consequences and now GDP is falling while inflation continues to persist so rates will continue to be high as well.
The majority of young voters DON'T VOTE.
It has always been true that the 18-29 crowd is a low propensity voter. The Hamas supporters and political activist class on college campuses is a LOW PROPENSITY VOTING CLASS.
BY FAR, the largest chunk of votets is the older groups and it's not close.
Posted on 4/27/24 at 11:36 am to ragincajun03
quote:
Anthony and Caitlin Fumo
will own nothing and like it
Posted on 4/27/24 at 11:42 am to el Gaucho
quote:
Boomers voted for inflation and high mortgage rates because they want to make sure millenials never own a home
I’m a boomer. Why would I want millenials not to own a home? None of us are against you owning homes.
The reason a lot of you can’t afford homes is because many of you don’t even start a serious career until you are 30; we started at 23 at the latest. And you would not live in the houses we were cool with as starter houses.
Posted on 4/27/24 at 11:45 am to Penrod
quote:
The reason a lot of you can’t afford homes is because many of you don’t even start a serious career until you are 30; we started at 23 at the latest. And you would not live in the houses we were cool with as starter houses.
This is a good point but the was also a systemic feature wrought by the boomers and a feature of the lifestyles millennials/Z grew up with. Yes, folks could use their time better but boomers added all sorts of ridiculous credentialing and degree-mandates sending the millennials and Z to universities. This not only delayed their productive years, but it also put many of them in debt. None of it was seen as an issue until the student loan debt ballooned.
Also, the boomers voted for government funding of universities. Young voters did not vote for that as they turned out in low numbers which is the historical norm.
Boomers were the largest cohort and most economically powerful globalist generation in human history.
Absolutely everything today should be laid at their feet.
2-3 election cycles of a tiny minority of left wing you g voters doesn't erase decades of boomer voting.
This post was edited on 4/27/24 at 11:47 am
Posted on 4/27/24 at 11:50 am to Bring Da Wood
quote:Democrats generally get half or just under half of the boomer vote in just about every election anyway.
The majority of young voters voted for Biden. So basically they’re getting what they voted for. Elections have consequences and now GDP is falling while inflation continues to persist so rates will continue to be high as well.
40% of the money printed happened during Republican administration's.
Shitty monetary policy is bipartisan. The only people you can't really point the finger at are people who voted for Ron Paul or Libertarian candidates.
Posted on 4/27/24 at 11:57 am to Penrod
quote:
The reason a lot of you can’t afford homes is because many of you don’t even start a serious career until you are 30; we started at 23 at the latest. And you would not live in the houses we were cool with as starter houses.
Out of touch boomer.
Posted on 4/27/24 at 11:59 am to el Gaucho
quote:
Boomers dgaf about inflation and high mortgage rates because they dgaf if millenials never own a home
This post was edited on 4/27/24 at 11:59 am
Posted on 4/27/24 at 12:00 pm to Penrod
quote:stfu Boomer
I’m a boomer. Why would I want millenials not to own a home? None of us are against you owning homes.
The reason a lot of you can’t afford homes is because many of you don’t even start a serious career until you are 30; we started at 23 at the latest. And you would not live in the houses we were cool with as starter houses.
hurry up and retire already and move out that McMansion
Posted on 4/27/24 at 12:03 pm to Penrod
quote:
I’m a boomer. Why would I want millenials not to own a home? None of us are against you owning homes. The reason a lot of you can’t afford homes is because many of you don’t even start a serious career until you are 30; we started at 23 at the latest. And you would not live in the houses we were cool with as starter houses.
Responding to Gaucho…
Posted on 4/27/24 at 12:05 pm to el Gaucho
quote:Your schtick is corny and played out. Find some new material, bromigo...
el Gaucho
Posted on 4/27/24 at 12:07 pm to Penrod
quote:
I’m a boomer. Why would I want millenials not to own a home? None of us are against you owning homes.
Because yall hate us
quote:
The reason a lot of you can’t afford homes is because many of you don’t even start a serious career until you are 30; we started at 23 at the latest. And you would not live in the houses we were cool with as starter houses.
See?
Posted on 4/27/24 at 12:11 pm to Penrod
quote:
I’m a boomer. Why would I want millenials not to own a home? None of us are against you owning homes. The reason a lot of you can’t afford homes is because many of you don’t even start a serious career until you are 30; we started at 23 at the latest. And you would not live in the houses we were cool with as starter houses.
I’m gen X but not sure why posters have a problem with this, it is very true. I also hear from younger folks that “unless we want to live in bad area” excuse. Well, most of us moved to shitty neighborhoods and houses when we moved out. I mean I worked multiple jobs from 1990 all the way to 2017. It’s not as much different now than what it use to be. My rent was $250 in early 90s but I was also making less than $5 an hour. I also didn’t have tv or phone, even back then people said that’s crazy, but I had to eat.
Saying all that I was happy as frick. Can’t imagine laying the blame on prior generations. The opportunities people have now are incredible
Eta: As far as working 2 jobs many of those years was being a firefighter so we all do. I did prior to becoming one also to have spending money for my then gf now wife to take out to eat and trips. I’m not an advocate for working all the time. It just depends on what your goals are. My daughter and son n law work one job, live in Houston, and do great
Eta 2: Daughter is physical therapist and SIL does hvac. They bought a house in Houston proper 3 years ago
This post was edited on 4/27/24 at 12:21 pm
Posted on 4/27/24 at 12:13 pm to LRB1967
quote:
They can always work 3 jobs like I do
The fact that this is the default suggestion says a lot about how sick our society has become.
Posted on 4/27/24 at 12:14 pm to ragincajun03
In 5 to 10 years we’re going to see a housing surplus and price crash.
Boomers (who own the majority of real estate) will start departing the world in greater numbers, downsizing and into retirement homes.
Boomers (who own the majority of real estate) will start departing the world in greater numbers, downsizing and into retirement homes.
This post was edited on 4/27/24 at 12:15 pm
Posted on 4/27/24 at 12:16 pm to Mushroom1968
quote:Look at increase in the prices of houses in demographically favorable neighborhoods since 2019. It's different.
It’s not as much different now than what it use to be.
By way of example, a family member is about to purchase a $1.2 M home in NC burbs that was appraised at $650k in 2020.
This is ludicrous.
Posted on 4/27/24 at 12:16 pm to TejasHorn
quote:It's about fricking time.
Boomers (who own the majority of real estate) will start departing the world in greater numbers, downsizing and into retirement homes.
Posted on 4/27/24 at 12:17 pm to LRB1967
quote:So stupid
They can always work 3 jobs like I do
Posted on 4/27/24 at 12:17 pm to ragincajun03
Fiance and I figured this out a couple of years ago. World is about to be has and has nots, and we are busting out asses to be part of the has crowd. If you're making less than 150k as a house hold in most places, you're gonna be lower class sooner than later.
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