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re: The High Cost of a Home Is Turning American Millennials Into the New Serfs
Posted on 8/22/17 at 1:55 pm to Darth_Vader
Posted on 8/22/17 at 1:55 pm to Darth_Vader
quote:
You're missing the point
No I'm not. I get you what you're trying to say. I just don't think it really adds anything to the discussion.
0
Posted on 8/22/17 at 1:56 pm to deeprig9
quote:And realize when I am 50, I will have likely tripled my starting salary minimum, and well, mr plumber wont(unless he opens his own business, which can be said for the degreed individual as well)
Now, take your 65k and subtract your student loan payments and tell me who makes more.
And realize half of the plumbers make more than that.
Posted on 8/22/17 at 1:58 pm to lsupride87
quote:
It is a simple fact to say millenials have it harder
This is where you're wrong kid. Take all your charts and graps you want. But unlike you, I actually lived through the 70s and 80s, and even the shitty economy of the early 90s. AndcI'm here to tell you, comparing them all, including today, the misery of the mid to late 70s and early 80s was far and away worse than anything we as a country have seen since.
Posted on 8/22/17 at 1:58 pm to GreatLakesTiger24
quote:
The High Cost of a Home Is Turning American Millennials Into the New Serfs
Maybe they shouldn't spend $12 on a cup of coffee or spend $250K to get a liberal arts degree.
Posted on 8/22/17 at 1:59 pm to lsupride87
So what is the argument?
Millinials cant find jobs but plumbers are in demand.
Making 100% of 50k+ is better than making 0% of a hypothetical 65k.
Millinials cant find jobs but plumbers are in demand.
Making 100% of 50k+ is better than making 0% of a hypothetical 65k.
Posted on 8/22/17 at 2:00 pm to RogerTheShrubber
quote:
Actually not. Most are awesome compared to the ones who post on the OT.
I've had hundreds work for me, most were amazing people.
I make plenty of money and work hard. Im not describing myself when looking at this data, but that doesn't mean it still doesn't affect me. I could be making more money or I could purchase a house a year and a half after college, but because of the factors we are describing it's harder to do that. I'm fine, I have a professional job with great upward mobility, but that doesn't mean the overall economic conditions don't affect me. Hell, I'm donating money to the feds through my SS payments. I'm never going to see that. The point is, 30 years ago all things being equal I would've been in a better position than I am today. The reason for that is the dumbass decisions the Xers have made/are making while being in the positions of power. Millennials, who you blame for everything, are just now getting old enough to have any control in their own outcomes. The oldest millennials were borderline eligible to run for president in the last election. Now that we will have more say in how things are done maybe we can begin to correct the mistakes y'all have made.
Posted on 8/22/17 at 2:00 pm to Darth_Vader
quote:
This is where you're wrong kid. Take all your charts and graps you want. But unlike you, I actually lived through the 70s and 80s, and even the shitty economy of the early 90s. AndcI'm here to tell you, comparing them all, including today, the misery of the mid to late 70s and early 80s was far and away worse than anything we as a country have seen since.
So disregard facts and only accept anecdotes?
Wow.
Posted on 8/22/17 at 2:01 pm to WeeWee
Give me a fricking break with these examples
Posted on 8/22/17 at 2:02 pm to GreatLakesTiger24
If there was an O-T back in the early to mid 80s, you would have seen this exact same thread with "Gen X" substituted for "millenials". I remember when I was the lazy, complaining piece of shite.
There will always be youngish folks who make bad choices and are somewhat stupid with money (been there, did that), and older folks to offer them truisms or "Richest Man in Babylon" canned advice (been there, did that).
Youngish folks-- don't bitch because no one cares, you sissies.
Older folks -- don't scold because you know your parents thought you were a piece of shite when you were young, you crusty old bastages.
There will always be youngish folks who make bad choices and are somewhat stupid with money (been there, did that), and older folks to offer them truisms or "Richest Man in Babylon" canned advice (been there, did that).
Youngish folks-- don't bitch because no one cares, you sissies.
Older folks -- don't scold because you know your parents thought you were a piece of shite when you were young, you crusty old bastages.
Posted on 8/22/17 at 2:04 pm to Darth_Vader
quote:
This is where you're wrong kid. Take all your charts and graps you want. But unlike you, I actually lived through the 70s and 80s, and even the shitty economy of the early 90s. AndcI'm here to tell you, comparing them all, including today, the misery of the mid to late 70s and early 80s was far and away worse than anything we as a country have seen since.
This is the definition of idiocy. You just said ignore the facts because I know better than them. I mean at least you are willfully admitting you know the facts, you just don't care.
Posted on 8/22/17 at 2:05 pm to RogerTheShrubber
quote:
Manufacturing jobs were disappearing, no one was hiring and your only hope for employment was to get a minimum wage job and work your way up. This was the norm in NW Louisiana, this isn't some anecdotal individual tale.
Minimum wage in 1981 was $3.35. Inflation adjusted equivalent in 2017 is $9.02. Actual minimum wage in 2017 is $7.25.
Yet again we've proven how things were better then than they are now.
ETA: Hell, in 1978 minimum wage was $2.65, an inflation adjusted equivalent of $9.95 today.
This post was edited on 8/22/17 at 2:06 pm
Posted on 8/22/17 at 2:06 pm to GetCocky11
quote:
Wow.
Want some facts? Go look at unemployment rates and home loan interest rates in the 70s and compare them today.
Now tell me who had a harder time buying a house?
The very fact a 20something today is even considering buying a house tells me something. I say that because in the 70s and early 80s, 20somethings didn't even consider buying a house because they knew they had a better chance ar buying the moon. A house wan't even in the discussion.
Posted on 8/22/17 at 2:10 pm to slackster
quote:Facts simply dont matter
Minimum wage in 1981 was $3.35. Inflation adjusted equivalent in 2017 is $9.02. Actual minimum wage in 2017 is $7.25.
Yet again we've proven how things were better then than they are now.
ETA: Hell, in 1978 minimum wage was $2.65, an inflation adjusted equivalent of $9.95 today.
Posted on 8/22/17 at 2:10 pm to Darth_Vader
quote:Well can we look at average house prices too?
Now tell me who had a harder time buying a house?
Posted on 8/22/17 at 2:11 pm to Darth_Vader
quote:
Want some facts? Go look at unemployment rates and home loan interest rates in the 70s and compare them today.
Now tell me who had a harder time buying a house?
Dude, here are some facts
quote:
Let's start by examining the cost of homes from 1975 to 2008. Our statistics are drawn directly from U.S. Census Bureau data. The average house price in 1975 was $39,500. Using the Bureau of Labor Statistics inflation calculator, we find that comes to $158,000 in 2008 dollars.
The average (mean) house price in December 2008 was $301,200 -- almost twice the 1975 cost. To be exact, 90.7% higher.
Posted on 8/22/17 at 2:13 pm to lsupride87
quote:
Well can we look at average house prices too?
LINK
quote:
Here's how much the median home value in the U.S. has changed between 1940 and 2000:
quote:
Here are those values again, adjusted for 2000 dollars:
1940: $30,600
1950: $44,600
1960: $58,600
1970: $65,600
1980: $93,400
1990: $101,100
2000: $119,600
It's natural for prices to rise over time. But the issue here is that home values are outpacing inflation, making it nearly impossible for new and young buyers to enter the market.
Dramatically higher prices are partly why the typical homebuyer is now 44, whereas in 1981, the typical homebuyer was 25-34.
This post was edited on 8/22/17 at 2:14 pm
Posted on 8/22/17 at 2:15 pm to TheCaterpillar
quote:
Travel and new experiences are what we like to spend money on more than anything. And not luxurious travel, just travel in general. Not a lot of people putting down roots.
So are you saying Millennials don't have a money problem?
Posted on 8/22/17 at 2:15 pm to Darth_Vader
quote:
Want some facts? Go look at unemployment rates and home loan interest rates in the 70s and compare them today.
Again, you are only looking at a piece of the puzzle. No one is disputing that there were very lean years during that time, but as a whole, a concept you and Roger seem to struggle with, people during that time saw an increase in wages and quality of life. After 1982 we saw some of the greatest economic times the country has ever seen. So yes, for a 5 year stretch it was not good, but for the next 25 years it was excellent allowing your generation to make great gains as a whole. Then, the tech and housing bubbles along with the recession in 2008. Millennials who are now trying to make strides have not been able to overcome that because the recovery has not been anywhere near what it was in the mid 80s. This has led them to be worse off as a whole than the generation before them. We could see a great boom and this narrative could change 5 to 10 to 20 years from now, but as of this time young people now have it worse off than they did in 1980. That is a fact, not an opinion.
Posted on 8/22/17 at 2:16 pm to RogerTheShrubber
quote:
In addition to econ, you fail to grasp the meaning of simple words.
Roger you disappoint me in these threads. You seem to be ignoring all objective data, arguing using memory (which is extremely suspect) and emotion, then claiming intellectual superiority and insulting others when challenged. This must be a sensitive subject for you.
Also, what are your econ qualifications since you repeatedly resort to that tactic in any variation of this thread? Aren't you a tour guide?
Posted on 8/22/17 at 2:22 pm to MusclesofBrussels
quote:
Roger you disappoint me in these threads. You seem to be ignoring all objective data, arguing using memory (which is extremely suspect) and emotion, then claiming intellectual superiority and insulting others when challenged. This must be a sensitive subject for you.
Yes, Mingos academic knowledge is lacking. Are agreeing with him?
[quote]Also, what are your econ qualifications since you repeatedly resort to that tactic in any variation of this thread? Aren't you a tour guide?[/quote]
Where do you get this?
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