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Started By
Message
re: Home ownership at 50 year low per ABC 20/20
Posted on 1/14/17 at 12:56 am to HempHead
Posted on 1/14/17 at 12:56 am to HempHead
quote:
But land?
If you live somewhere that jobs are actually plentiful, try buying land. Besides, why would a person buy land in a location, if they can't even commit to buying a home? You can't live in a field.
1
Posted on 1/14/17 at 12:57 am to wmr
quote:
You can't live in a field.
No, but you can live in cheap shelter. But this is kind of a wook thing and I wouldn't expect any woman other than some nasty custy to go along with it.
Posted on 1/14/17 at 12:57 am to HempHead
quote:
shite, man, I've already smoked all the grass. Both sides of the fence.
I've had like 5 gin and tonics tonight and just watched "Bridget Jones's Baby". I'm just glad you understand me
This post was edited on 1/14/17 at 12:58 am
Posted on 1/14/17 at 12:58 am to Teddy Ruxpin
quote:
gin and tonics
quote:
Bridget Jones's Baby
Posted on 1/14/17 at 12:59 am to buckeye_vol
quote:
Is there really that little log security (since we hit bottom)?
It isn't a factor of unemployment necessarily, but the reality that people are likely to have multiple different careers/jobs over their working life than in the past.
It's almost a given. If you knew you had a factory job in northern Indiana, a pension, and that it would be there for 30 years, you'd be more likely to put down roots.
If you're working in the typical corporate environment, where layoffs happen with relative frequency, it's harder to commit. I'm a homeowner, have a great job, and like where I live. I don't think my situation is as common as it used to be.
Posted on 1/14/17 at 12:59 am to HempHead
I know I know. My wife came through in a big way today, so I let her have her day with the TV. Give and take they said, it's a partnership they said.
This post was edited on 1/14/17 at 1:00 am
Posted on 1/14/17 at 1:01 am to Teddy Ruxpin
quote:
"Bridget Jones's Baby".
The only acceptable Bridget Jones movie is the first one.
Posted on 1/14/17 at 1:02 am to Teddy Ruxpin
quote:the part about having just a high school diploma isn't, at least not in your 20s
I'm wondering if this is tongue in cheek or not.
Posted on 1/14/17 at 1:05 am to wmr
quote:
If you're working in the typical corporate environment, where layoffs happen with relative frequency, it's harder to commit. I'm a homeowner, have a great job, and like where I live. I don't think my situation is as common as it used to be.
When they say lowest in 50 years, by how much? Is it 2% or 40%? We may be making a mountain out of a mole hill here. I'm open to the idea that recent history plus the ease of travel has made it easier to move around, and a segment of the population has taken advantage of that, myself included, but I don't think that is the "norm" at all, and I think the status quo is still very much in play.
Then you have professions like lawyers which doesn't have the greatest mobility due to licensing issues between states, real or perceived.
Posted on 1/14/17 at 1:06 am to wmr
quote:
The only acceptable Bridget Jones movie is the first one.
Shocking news, the 2nd one has 27% on Rotten Tomatoes. The 3rd one has 76%. Apparently it is a sleeper pick. Like Fast and Furious 4 rejuvenated the franchise
This post was edited on 1/14/17 at 1:07 am
Posted on 1/14/17 at 1:08 am to HempHead
quote:I want to do this now, but I need to build some capital first. Being a big fish in a small pond is underrated.
makes me want to settle down in my hometown and become a local patriarch.
Posted on 1/14/17 at 1:10 am to GreatLakesTiger24
I don't know why, but I'd like to be patriarch yet George Wendt in Cheers at the same time. Something about Cheers makes me happy.
Posted on 1/14/17 at 1:16 am to GreatLakesTiger24
quote:
the part about having just a high school diploma isn't, at least not in your 20s
But, if we leave out other variables, that's a good thing. We can't stay as a civilization with a certain percentage always having a high school diploma. Either more people have to go to college to get smarter as humanity develops or in the future, high school diplomas are equivalent to Bachelor degrees in educational quality.
I suspect it ends up being a little of both. For example, I took calculus in high school. That shite wasn't even in the ballpark of stuff my mom could take back then.
This post was edited on 1/14/17 at 1:17 am
Posted on 1/14/17 at 1:17 am to JohnDeere
quote:
Probably has something to do with all these damn millennials still living at home sucking on their momma's tit
Not necessarily the reason you're thinking, but millennials are contributing to it. These are just two sources, but there are plenty of nonpartisan economic sources that discuss the downward trend in homeownership.
quote:
The drop in homeownership is largely due to a delay in homebuying by the millennials, who have the lowest ownership rate of their age group in history. Millennials are not only burdened by student loan debt, but they have also delayed life choices like marriage and parenthood, which are the primary drivers of homeownership.
CNBC
Also, there's this:
quote:
This uptick in rentals (and drop in homeownership) is often attributed to millennials who are putting off life’s big milestones. The data, however, paints a slightly different picture: Individuals in their mid-30's to mid-40's are more likely to be living in rentals today than they were a decade ago. Homeownership has declined among those aged 35 to 44 from 67% in 2007 to 58% in 2015. That’s the largest decline among all age groups. According to Susan Wachter, Professor of Real Estate and Finance at The Wharton School of the University of Pennsylvania, this group was hit the hardest due to slowing wage growth and foreclosures.
Forbes
So it's a combination of factors and groups.
Posted on 1/14/17 at 1:20 am to GreatLakesTiger24
quote:
I want to do this now, but I need to build some capital first. Being a big fish in a small pond is underrated.
From what I gather, we come from similar situations. Talk to the successful family friends (or family, for that matter). Ask what is lacking, who is involved in X matters with no known inheritor, humbly ask for guidance and offer assistance. Do this, and at least have some kind of marketable skill, and an opportunity for growth will come up.
Posted on 1/14/17 at 1:22 am to TerryDawg03
People bitch about Millennials too much. I have to find the article I read earlier today, but they do that study about who can handle $500 if an emergency occurred every year, and the overall results are usually bad. However, millenials were the best performing saver age group. I might be too far gone to find the link, but the facts, as usual, are more complicated than perceived observations.
Found it
Found it
quote:
Millennials were the most financially prepared to handle monetary headwinds with 47% of those aged 18-29 saying they could dip into savings to cover an unplanned expense, a substantial increase from 33% in 2014.
This post was edited on 1/14/17 at 1:27 am
Posted on 1/14/17 at 1:35 am to McChowder
quote:Part Time Employment Percentages on Page 10
Ahhhh the freedom to work 2-3 part time jobs to makeup for the 1 full time l
Since 1990 part time employment hasn't dipped much below 17% (lowest around 1990 and 2000); it's currently at about 18%.
quote:
job that paid more.
Real Median Household Income
Since 1984, the highest real median household income (1999) was $57,909; it is currently at $56,516 with an upward trend. And it was lower than today from 1984-1996.
quote:
Forward!
Obviously I wish it was the job and wage data were better, and it's obviously not at its peak.
That being said, the data do not support the pessimistic outlook, especially hyperbole. We should always strive for better, but the dot com bubble aside, we are about as well off as were in any other time during the last 30 or so years.
This post was edited on 1/14/17 at 1:36 am
Posted on 1/14/17 at 1:37 am to GreatLakesTiger24
quote:Psychologically it's usually positive. I'm not sure it is necessarily in an objective reality, but I guess that's irrelevant to the subjective happiness that corresponds with it.
Being a big fish in a small pond is underrated.
Posted on 1/14/17 at 1:43 am to wmr
quote:See I don't see that necessarily a negative or positive; it's dependent on the situation. Job burnout is common so multiple jobs is a positive for that. On the other hand, being forced out of a preferred job is a negative.
but the reality that people are likely to have multiple different careers/jobs over their working life than in the past.
quote:And I'm sure that was great for many, but that also sounds somewhat miserable for others (for me it would be the factory job part).
If you knew you had a factory job in northern Indiana, a pension, and that it would be there for 30 years, you'd be more likely to put down roots.
quote:Probably not, but that's also not a negative for many. Some people don't like change; others relish it. Just like changing jobs, the psychological impact of changing locations is probably very specific to an indivdual.
I'm a homeowner, have a great job, and like where I live. I don't think my situation is as common as it used to be.
Posted on 1/14/17 at 3:56 am to funnystuff
quote:
In fairness, that's not particularly surprising coming off the Great Recession
Oh yes it is. That was 8 years ago. Where is the fricking rebound? 50 year low NOW, not in 2010 about a bunch of people lost their houses?
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