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re: How will young people ever get ahead?
Posted on 5/3/23 at 9:49 am to stout
Posted on 5/3/23 at 9:49 am to stout
quote:Its not hyperbole. The only dirt cheap houses in non Somalia areas are going to be complete tear downs or major renovations. They aren’t going to be minor handyman work
You guys posting this type of hyperbole over and over is not disproving anything.
It’s not going to be changing a tire or the oil, it’s going to be rebuilding the transmission at best type of work
This post was edited on 5/3/23 at 9:50 am
1
Posted on 5/3/23 at 9:50 am to stout
quote:Now we're going into debt with no experience in what we're using the money for?
For the money part, there are renovation loans available tailored to this very thing.
quote:The problem is you are suggesting that folks start a career in construction in order to buy an affordable starter home.
Where do people begin to build that background? How did people build that background before the internet? It's been done for decades so why is it a problem suddenly?
Posted on 5/3/23 at 9:51 am to stout
quote:
You guys posting this type of hyperbole over and over is not disproving anything.
No bro, your point is just a bad one. On the one hand you claim young people (who don't have much money btw) need to buy shitshacks and renovate them themselves. When presented with the holes in that philosophy, you retort that they just subcontract the major work which of course costs additional money. So I'll buy a 150k house that needs 100k in revonavation work (which I'll have to take loans to pay for) to avoid buying a 250k home that is ready made. You keep contradicting yourself when confronted with reality.
This post was edited on 5/3/23 at 9:54 am
Posted on 5/3/23 at 9:51 am to Korkstand
quote:
The problem is you are suggesting that folks start a career in construction
That's some drama queen stuff man..
This post was edited on 5/3/23 at 9:52 am
Posted on 5/3/23 at 9:52 am to lsupride87
quote:
Its not hyperbole. The only dirt cheap houses in non Somalia areas are going to be complete tear downs or major renovations. They aren’t going to be minor handyman work
To make matters worse, the growth of the "flipper" industry puts all buyers into competition with people who are now doing it professionally. This has helped artificially inflate prices. There have always been flip guys, but never even close to this extent.
Posted on 5/3/23 at 9:52 am to Korkstand
quote:
Yeah a lot of us can watch a 10 minute youtube video and learn something "completely new", but we have to realize that it's not really completely new to us. There is a whole lot of background knowledge and experience required to build new knowledge.
and to be fair. another entry boundary into doing a lot of renovation projects is not only experience, but owning the tools to do these projects.
i appreciate a good reno project as much as anyone, because i will not only improve my equity, but i also learn a valuable skill along the way. one problem i often have is i don’t have a shop or shed full of tools for a lot of these projects.
This post was edited on 5/3/23 at 9:54 am
Posted on 5/3/23 at 9:53 am to RogerTheShrubber
quote:
I built in the country.
Most people have jobs/careers that require them to be in or near a big city. A lot of people in this thread say stuff like "well, just move a little farther away" as if 2-3 hour commutes are normal things.
A lot of white collar jobs are being consolidated into 10-12 big blue metro areas and people have to go where the jobs are. This is something that does not get mentioned a lot in these threads.
I'm sure the response to this will be something like "well, get a different job" as if mid-career switches are feasible when money is already a little tight.
Posted on 5/3/23 at 9:54 am to Klark Kent
Roger only needs a tape measure, hand saw, and a good pair of boots
Posted on 5/3/23 at 9:54 am to UtahCajun
quote:
puts all buyers into competition with people who are now doing it professionally. This has helped artificially inflate prices. There have always been flip guys, but never even close to this extent.
yep, when there are reality shows about house flipping you are probably late to the game
doesn't mean it's impossible though, got to buy at the right price, stay within your plan and budget
Posted on 5/3/23 at 9:54 am to wadewilson
quote:
In a couple generations the 99 percent will write a new constitution in the blood of the 1 percent
It will not take near that long. It is much closer than most think. Glad I am old
Posted on 5/3/23 at 9:55 am to Sun God
quote:
Roger only needs a tape measure, hand saw, and a good pair of boots
Didn't you know? Roger coulda marched to Berlin solo and came back with hitlers luger if only he was born a few years earlier.
Posted on 5/3/23 at 9:55 am to RogerTheShrubber
quote:You're here talking about superpowers and halley's comet and magic.
That's some drama queen stuff man..
I have enough background knowledge to youtube my way through building an entire house from scratch on my own. I also have enough common sense to know that it took a long time to acquire that background knowledge.
Almost zero people straight out of college can buy a fixer-upper and do some fixer-upping. You're going to need either money or knowledge/experience. And if you don't plan to go into construction, then you're better off just buying a house that's ready to move into and start your actual career.
Posted on 5/3/23 at 9:56 am to Allthatfades
You know certain ethnicities really have this figured out.
You may see 3-4 families, all related, living in the same house. We have been conditioned to think it a sign of being poor. But in actuality they save money on the house and pool money for everything else.
Buying rental properties, starting businesses, etc.
This is the way
You may see 3-4 families, all related, living in the same house. We have been conditioned to think it a sign of being poor. But in actuality they save money on the house and pool money for everything else.
Buying rental properties, starting businesses, etc.
This is the way
Posted on 5/3/23 at 9:57 am to UtahCajun
quote:
It will not take near that long. It is much closer than most think. Glad I am old
There's still a lot of generational wealth that will keep the middle class afloat, but the closer we get to the working poor and the richer the elites get, the more appetizing chopping heads off will look.
Posted on 5/3/23 at 9:57 am to Allthatfades
One of the best skills I learned at LSU was the management of my money, I would squeeze a penny until old Abe would cry.
I worked during the summers, Thanksgiving break, Christmas Break, and Spring Break. And sometimes this makes me irrationally angry because I didn't get to 'party' like some others did. I did not go to concerts or get drunk on the weekends, I did go to the home games.
Some folks today do not value money because someone gives it to them, the old adage is if it is free then they don't care about it. Money is time to me , if you try take it from me I will be angry because you are taking MY time.
I bought my wife (no pics) a new car , she took it when she kicked me out of my house. I have never personally owned a new car/truck, I buy used. At one time I owned 3 houses. I sold 2 because I don't have the time to keep up 3.
I worked during the summers, Thanksgiving break, Christmas Break, and Spring Break. And sometimes this makes me irrationally angry because I didn't get to 'party' like some others did. I did not go to concerts or get drunk on the weekends, I did go to the home games.
Some folks today do not value money because someone gives it to them, the old adage is if it is free then they don't care about it. Money is time to me , if you try take it from me I will be angry because you are taking MY time.
I bought my wife (no pics) a new car , she took it when she kicked me out of my house. I have never personally owned a new car/truck, I buy used. At one time I owned 3 houses. I sold 2 because I don't have the time to keep up 3.
Posted on 5/3/23 at 9:57 am to Allthatfades
Learn a trade, work a little ot, and all are paid for, and the unt of a wife gets a credit card or 2 to jack up.
Welcome to 2020's
Welcome to 2020's
Posted on 5/3/23 at 9:57 am to Allthatfades
By avoiding debt where you can, saving money, and not paying too much for things you don’t need, like a $50k brand new car.
Another question: did you teach your children to do these things?
Another question: did you teach your children to do these things?
Posted on 5/3/23 at 9:58 am to Korkstand
quote:
Almost zero people straight out of college can buy a fixer-upper and do some fixer-upping. You're going to need either money or knowledge/experience. And if you don't plan to go into construction, then you're better off just buying a house that's ready to move into and start your actual career.
Keep in mind too the used car market is sky high as well, so vehicles aren't cheap either. Gas is up, materials are up, used cars, rent, interest rates, all up.
But sure, take on a major renovation project with no tools or experience and youtube as your guide. What could possibly go wrong?
This post was edited on 5/3/23 at 9:59 am
Posted on 5/3/23 at 9:59 am to Allthatfades
Exactly. Just taking into account the debt, $31 "T"rillion dollars. Each American has over $90K of debt. As soon as a baby is out of the womb, it needs to find a job to pay its share of the $90K. If you only spread that over "working" Americans, taking into account seasonal workers, etc., it's about $120K of debt per working person. It's my biggest concern. We CANNOT sustain it. It's a locomotive with no breaks.
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