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Posted on 7/23/19 at 9:26 am to LCA131
quote:
FINE!!!
runs out into the snow storm barefooted and goes to the grocery store where he works.
well played
Posted on 7/23/19 at 9:29 am to GreatLakesTiger24
quote:thats better than the 45% of GenXers.
Gee, thanks Mom and Dad: 35% of millennials still live at home
Its funny people like to talk about Millennials living at home when there was a whole SNL skit and 2 box office movies about the stereotype of GenXers living in parents basements. Party On.
Posted on 7/23/19 at 9:30 am to JudgeHolden
quote:
Bull and shite. Average prices? Maybe. Real prices of starters? No way.
Mortgage loans are what, 5 percent? Mine was 15. That means what would be a 1000 payment today would be 3000 back then. Money is a third of the cost it was.
My first home was 103,000. Your telling me that you can’t find a starter home under 309,000?
There is so much here I don't even know where to start
Posted on 7/23/19 at 9:32 am to JudgeHolden
quote:
Mortgage loans are what, 5 percent? Mine was 15. That means what would be a 1000 payment today would be 3000 back then. Money is a third of the cost it was.
My first home was 103,000. Your telling me that you can’t find a starter home under 309,000?
This math is very wrong
At 5%, you'd need a balance of $187500 to hit $1000 payment. Upping that to 15% only puts you at $2300. We're only focusing on P&I to keep it apples to apples.
Then, you'd need to go back to 1982 to hit that high of a rate on average. So $187500 in 1982 is equivalent to $487000 today.
Posted on 7/23/19 at 9:34 am to JudgeHolden
Read my post again, champ
Posted on 7/23/19 at 9:34 am to LCA131
quote:
Is he is full of shite as you are?
No that’s why he’s still single
Posted on 7/23/19 at 9:38 am to GreatLakesTiger24
quote:I haven't looked at real estate inflation, but overall the real wages have kept up with inflation over the past 40 years. Obviously over that 40 year period there have been years were wage growth outpaced inflation as well as years inflation outpaced wage growth.
Read my post again, champ
Posted on 7/23/19 at 9:41 am to Mingo Was His NameO
quote:
There is so much here I don't even know where to start
Then do a real fricking economic analysis. You are telling me you are living in your basement because homes are too expensive, and not cheap like they were for me.
I'm pointing out that if you are borrowing, the major cost is the interest rate, and your interest rate is far, far fricking lower than mine ever was.
So run the numbers. Tell me what the equivalent price is on a $109k home, and what the real cost is on a monthly basis accounting for interest. Then adjust that number for real wages. Wouldn't that be comparing buying power then to buying power now?
If I'm wrong, I'm wrong. But I think that saying you have significantly less buying power than I did is bullshite.
Posted on 7/23/19 at 9:41 am to PearlJam
quote:
I haven't looked at real estate inflation, but overall the real wages have kept up with inflation over the past 40 years.
You might want to look again
Posted on 7/23/19 at 9:42 am to Mingo Was His NameO
Look at what?
Posted on 7/23/19 at 9:42 am to JudgeHolden
quote:
If I'm wrong, I'm wrong
You are
quote:
But I think that saying you have significantly less buying power than I did is bullshite.
I don't care what you think, I care about what the math says
Posted on 7/23/19 at 9:43 am to PearlJam
quote:
I haven't looked at real estate inflation, but overall the real wages have kept up with inflation over the past 40 years.
Ok, if that is true, then the only remaining factor is cost of money (interest rates). And I know for a fact that they are lower today, much lower, than they were in the day of the millenials' parents.
And if that is true, then this whole "it was so much easier back then" is total horseshite.
Posted on 7/23/19 at 9:43 am to JudgeHolden
quote:You absolutely can, but the rest of your post is bad math.
Your telling me that you can’t find a starter home under 309,000?
This post was edited on 7/23/19 at 9:44 am
Posted on 7/23/19 at 9:44 am to Mingo Was His NameO
quote:From pew research
I don't care what you think, I care about what the math says
quote:
today’s real average wage (that is, the wage after accounting for inflation) has about the same purchasing power it did 40 years ago
Posted on 7/23/19 at 9:48 am to Mingo Was His NameO
quote:
You might want to look again
quote:
I care about what the math says
The Federal Housing Finance Agency says you're wrong.
Perhaps that agency doesn't have the same grasp on the subject that you do.
This post was edited on 7/23/19 at 9:53 am
Posted on 7/23/19 at 9:48 am to GreatLakesTiger24
Need to factor in major metros. Doesn't NYC alone have the equivalent population of the 17 least populated states? Now throw in LA, Sf Bay, Chicago....and you may start to see that the 35% may very well be mostly contained to certain areas where starter homes are half a million.
I bought my first house in Gonzalez in 2015 worth about 105k. I'm house hunting in a major metro now, where I'm looking at 800k-1M for a shitty place in a shitty area of town.
I'm now considering marriage, because I need the 2nd income to buy a home.
I bought my first house in Gonzalez in 2015 worth about 105k. I'm house hunting in a major metro now, where I'm looking at 800k-1M for a shitty place in a shitty area of town.
I'm now considering marriage, because I need the 2nd income to buy a home.
This post was edited on 7/23/19 at 9:50 am
Posted on 7/23/19 at 9:50 am to Scruffy
quote:
but the rest of your post is bad math.
Well ok. But my point is still right!!!!
Posted on 7/23/19 at 9:51 am to JudgeHolden
quote:
Well ok. But my point is still right!!!!
Well, who am I to Judge?
Posted on 7/23/19 at 9:51 am to PearlJam
quote:
today’s real average wage (that is, the wage after accounting for inflation) has about the same purchasing power it did 40 years ago
Which is not good, like at all
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