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Started By
Message
1
Posted on 5/7/24 at 8:18 am to poochie
quote:
So again, these places exist, they’re just not what you “want”.
for the 100th time
the point is that previous generations did not have to buy 500 sq ft tiny homes or homes in the ghetto as "starter homes"
my god how do y'all keep missing this
Posted on 5/7/24 at 8:20 am to Salmon
quote:
the point is that previous generations did not have to buy 500 sq ft tiny homes or homes in the ghetto as "starter homes"
i miss the days when we let the gays move into ghettos to gentrify before yuppie couples could come in.
Posted on 5/7/24 at 8:29 am to Salmon
quote:It isn’t even a “starter home”.
the point is that previous generations did not have to buy 500 sq ft tiny homes or homes in the ghetto as "starter homes"
It is a $200k 500 sqft APARTMENT.
Anyone who believes that is a good financial decision should be completely disregarded.
With the likelihood of new construction in the area, no one would make money on a resale.
Insanity.
How could anyone with even a modicum of intelligence believe that is a good idea?
This post was edited on 5/7/24 at 8:33 am
Posted on 5/7/24 at 8:31 am to Scruffy
quote:
With the likelihood of new construction in the area, no one would make money on a resale.
To be fair most people don't "make money" in reall terms on the resale of a primary residence when you account for interest, insurance, taxes, maintenance, inflation, and closing costs.
You simply recoup some of your cost.
But that apartment was a shitty example.
Posted on 5/7/24 at 8:32 am to jclem11
quote:Sure.
You simply recoup some of your cost.
Then let me rephrase.
There is no way you would even recoup cost.
Insane.
Posted on 5/7/24 at 8:34 am to Scruffy
quote:
quote:
You simply recoup some of your cost.
Sure.
Then let me rephrase.
There is no way you would even recoup cost.
Insane.
100%. You will lose your arse on that $200K apartment.
Posted on 5/7/24 at 8:40 am to jclem11
American dream 1982
Buy a house in a charming neighborhood with great schools and build wealth
American dream 2024
Buy an apartment with awful schools and lose your arse when you sell it and go into more debt
Buy a house in a charming neighborhood with great schools and build wealth
American dream 2024
Buy an apartment with awful schools and lose your arse when you sell it and go into more debt
This post was edited on 5/7/24 at 8:41 am
Posted on 5/7/24 at 8:41 am to jclem11
So, to recap this thread, you should:
1. Accept pay that hasn’t even remotely correlated with inflation
2. Accept that you can’t afford a starter home in the same timeframe as your parents or in as safe of neighborhoods
3. Accept that “starter home” now equates to “500 sqft apartment that you’ll lose your shirt on”.
1. Accept pay that hasn’t even remotely correlated with inflation
2. Accept that you can’t afford a starter home in the same timeframe as your parents or in as safe of neighborhoods
3. Accept that “starter home” now equates to “500 sqft apartment that you’ll lose your shirt on”.
Posted on 5/7/24 at 8:52 am to Salmon
quote:
previous generations did not have to buy 500 sq ft tiny homes or homes in the ghetto
Agreed. I know my grandparents and the grandparents of everyone I knew all lived in huge homes in the most desirable areas. Basically palaces. It’s unreal how nice that generation had it.
Posted on 5/7/24 at 8:55 am to Scruffy
quote:
You simply recoup some of your cost.
Sure.
Then let me rephrase.
There is no way you would even recoup cost.
Insane.
the worst part about that is with a $1600 payment, you can't rent it for a passive income because there are brand new complexes with rental rates around that price and other complexes that are renting for 1200-1500
Posted on 5/7/24 at 8:56 am to DrrTiger
quote:Someone who apparently believes that buying a $200k 500 sqft apartment is a wise financial decision.
DrrTiger
The boomers are even dumber than I initially thought.
Posted on 5/7/24 at 8:57 am to Dire Wolf
quote:Exactly.
the worst part about that is with a $1600 payment, you can't rent it for a passive income because there are brand new complexes with rental rates around that price and other complexes that are renting for 1200-1500
And we have boomers on here who believe that is a wise financial decision.
The note would be higher than the rent in other locations AND there are HOA fees.
This post was edited on 5/7/24 at 8:59 am
Posted on 5/7/24 at 9:00 am to jclem11
quote:Of course the data lies, because it’s a conclusion that in search of justification instead of examining the factors. Does it cost more? Sure. Is it harder to do? If you don’t make good decisions it’s a LOT harder.
The kids coming up can make all the "correct" or "good" decisions and it is still harder for them financially to get where you were at the same age. Keep coping and seething but the data does not lie.
Why is it harder? Seriously. You’re not thinking about why. Take 5 minutes and look at your monthly bills, then realize how much you have going out that simply didn’t exist for someone raised in the 60’s or 70’s.
People eat out constantly, didn’t do that then. People used to put that $15 a month into savings they now spend on Netflix, MAX or something similar. Probably both and some others as well.
You’re trying to compare two different things, ignoring that reality.
Posted on 5/7/24 at 9:05 am to llfshoals
quote:
People eat out constantly, didn’t do that then.
You expect these snowflakes to cook their own food?
Posted on 5/7/24 at 9:08 am to llfshoals
quote:
Why is it harder? Seriously. You’re not thinking about why. Take 5 minutes and look at your monthly bills, then realize how much you have going out that simply didn’t exist for someone raised in the 60’s or 70’s.
Bro, this discussion is not about me. I'm a top 15% income earner and 95th percentile in wealth.
quote:
People eat out constantly, didn’t do that then. People used to put that $15 a month into savings they now spend on Netflix, MAX or something similar. Probably both and some others as well.
It doesn't matter how much frickin avocado toast is consumed when 75% of the population does not earn a high enough wage to afford the median price house in most areas of this country.
quote:
You’re trying to compare two different things, ignoring that reality.
Rich coming from the person who is burying their head in the sand and denying reality.
Posted on 5/7/24 at 9:13 am to DrrTiger
quote:
You expect these snowflakes to cook their own food?
The generation of shitty health crippling fast food chains that made many in your generation millionaires is shittong on the younger generation for eatingout.
Again, boomers are the first generation in American history to take on a complete adversarial position with respect to younger generations. You guys hate young people and you seemingly have no interest in their health or prosperity and you can't even bring yourself to try and understand their objectively real issues.
Enjoy your last years in the old folks home with the millennial caretakers beating your old arse when you shite yourself.
Keep up your mockery. It's so indicative of what your generation is, the childishness, shortsightedness, the total disconnection from laying down any legacy to follow.
Posted on 5/7/24 at 9:15 am to llfshoals
quote:
Why is it harder? Seriously. You’re not thinking about why. Take 5 minutes and look at your monthly bills, then realize how much you have going out that simply didn’t exist for someone raised in the 60’s or 70’s.
People eat out constantly, didn’t do that then. People used to put that $15 a month into savings they now spend on Netflix, MAX or something similar. Probably both and some others as well.
we subbed cigs and crippling alcoholism with netflix and uber eats.
Posted on 5/7/24 at 9:15 am to tiggerthetooth
quote:we need a young people awareness rally. Or some govt programs.
You guys hate young people and you seemingly have no interest in their health or prosperity and you can't even bring yourself to try and understand their objectively real issues.
Posted on 5/7/24 at 9:16 am to tiggerthetooth
Pretty much the only culture shifting from the age old principle of leaving wealth and life better for your children is white western citizens
Muslims, Asians, eastern whites etc still beleive in it. Something happened with the older white western civilIed society where they beleive you should spend it all and the children are to fend for themselves
Good news is Millenials with all their faults have pivoted from that selfishness. They spend more time and money on their kids than their parents generation
Muslims, Asians, eastern whites etc still beleive in it. Something happened with the older white western civilIed society where they beleive you should spend it all and the children are to fend for themselves
Good news is Millenials with all their faults have pivoted from that selfishness. They spend more time and money on their kids than their parents generation
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