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Started By
Message
re: How will young people ever get ahead?
Posted on 5/3/23 at 8:04 am to stout
Posted on 5/3/23 at 8:04 am to stout
I still don’t know how people on here argue this. It’s fascinating 
The price of goods, especially houses, is at the worst ratio ever in comparison to income. Young people have it worst and are fricked. It’s ok to just admit the giant fact staring you in the face
The price of goods, especially houses, is at the worst ratio ever in comparison to income. Young people have it worst and are fricked. It’s ok to just admit the giant fact staring you in the face
This post was edited on 5/3/23 at 8:05 am
4
Posted on 5/3/23 at 8:05 am to VADawg
quote:
The only places homes like that still exist are in places where you have to dodge gunfire walking to the mailbox.
I guess it depends on the city but this is not 100% true for every area.
Posted on 5/3/23 at 8:05 am to SquatchDawg
quote:
Well then get the frick out of Silicon Valley.
They do. They work remote from lower COL areas then get shite on by the people who live in the COL areas and/or their old-timey bosses who are screaming for "back to office" directives.
Posted on 5/3/23 at 8:06 am to Joshjrn
quote:
You know what my parents didn't have to do in the 90's? Literally anything you just described. Now, did they buy into a "nice" neighborhood? Nope. But it was a firmly lower-middle class neighborhood in the middle of Lafayette that had been developed in the last decade and a half. Houses were still all new-ish, nothing run down.
The fact that my parents could acquire a reasonably new 3/2 (albeit quite small) in town in Lafayette with zero needed renovations for the equivalent of $80k is the entire point. Saying that, well, young adults can move into an older house that needs renovations outside of the city for $200k isn't exactly the counter argument that people seem to think it is
But why were your parents able to do that, in Lafayette, in the 90's?
I was there at that time. It was the perfect time to be there. Just a few years before the bottom had fallen out and prices were way down. The boom of the late 90's/early 2000's and the resulting equity it brought me, is helping even to this day.
Posted on 5/3/23 at 8:07 am to Cosmo
quote:
You think these people are gonna renovate the houses themselves? Ha
That's the problem I am describing. No one wants to do the work.
Also, permitting has made it hard for a lot of them to do their own work in many areas which is bureaucratic BS.
Posted on 5/3/23 at 8:08 am to lsupride87
quote:
is at the worst ratio ever in comparison to income.
I didn't say it wasn't
I am arguing that, despite what you say, there are ways to still reach your goals without buying that newly built tract home and going into massive debt.
Posted on 5/3/23 at 8:08 am to SquatchDawg
So here are some statistics to go along with your 1996 $30,000 salary:
$30,000 in 1996 is equal to $57,822 as of March 2023.
The average cost of a new home in Louisiana in 1996 was $88,000.
The MSRP on a new F-150 in 1996 was $14,190.
Today the median home price in Louisiana is $266,000.
The MSRP of that F150 is $43,318.
So the as a ratio to income, the house in 1996 was 2.93 years salary. The truck was less than 6 months salary.
In 2023 that breakdown is 4.6 years salary and the truck is 9 months salary.
Housing is ridiculous. Inflation is 7 times higher. The overall cost of goods is much higher. But yeah, you just have to do what you did.
$30,000 in 1996 is equal to $57,822 as of March 2023.
The average cost of a new home in Louisiana in 1996 was $88,000.
The MSRP on a new F-150 in 1996 was $14,190.
Today the median home price in Louisiana is $266,000.
The MSRP of that F150 is $43,318.
So the as a ratio to income, the house in 1996 was 2.93 years salary. The truck was less than 6 months salary.
In 2023 that breakdown is 4.6 years salary and the truck is 9 months salary.
Housing is ridiculous. Inflation is 7 times higher. The overall cost of goods is much higher. But yeah, you just have to do what you did.
Posted on 5/3/23 at 8:09 am to SquatchDawg
quote:
The same way everyone did…by working their way up.
My first job out of college was $30k back in 1996. A kid bagging groceries at Publix makes $15/hr now. Do the math.
Don’t buy a new car. Buy used and reliable.
Rent and live with roommates. You don’t need a house starting out.
The issue is kids think they should live and have what their parents do right out of the gate. It doesn’t work that way. I’m not saying it’s easy…but it’s never been easy.
Wage stagnation and inflation make overcoming those hurdles far more difficult than the previous few generations. There's also a corporate culture that gatekeeps hoards resources in the upper levels and creates a 2 tiered system. You're either in the little club or you're not.
Posted on 5/3/23 at 8:09 am to tiggerthetooth
quote:
Collapsing population--->fewer workers--->less consumption---->less production--->smaller economies.
Except GDP continues to grow (albeit slowly) and GDP per capita increases.
You're leaving out the "corporate profits increase rapidly" portion of your equation.
What day does the money start trickling down?
Posted on 5/3/23 at 8:09 am to lsupride87
quote:
I still don’t know how people on here argue this. It’s fascinating ?
The price of goods, especially houses, is at the worst ratio ever in comparison to income. Young people have it worst and are fricked. It’s ok to just admit the giant fact staring you in the face
This is true and it will soon affect even those of us who have already realized our maximum earning potential. I hope everyone is ready for what comes next.
Posted on 5/3/23 at 8:10 am to stout
quote:
That's the problem I am describing. No one wants to do the work.
You are acting like home renovations are slam dunk affordable ways for everyone. If you don’t know how to do the work yourself, which is perfectly reasonable even for very hard workers, it’s expensive as frick and not really a more economical answer Posted on 5/3/23 at 8:10 am to upgrayedd
While thats true, buy a cheap used car, a condo or mobile home....
Most young people have to live cheaply to get ahead.
Most young people have to live cheaply to get ahead.
Posted on 5/3/23 at 8:11 am to lsupride87
quote:
I still don’t know how people on here argue this. It’s fascinating
The price of goods, especially houses, is at the worst ratio ever in comparison to income. Young people have it worst and are fricked. It’s ok to just admit the giant fact staring you in the face
Couldn't agree more.
Posted on 5/3/23 at 8:12 am to Gifman
quote:
Couldn't agree more.
I would hope kids would become conservative seeing what spending liberally has done to them.
But they're not.
Posted on 5/3/23 at 8:13 am to DeafJam73
quote:
When’s the last time you looked for a job? There are not a ton of high paying jobs being offered out there. And a degree doesn’t really mean anything anymore.
It really doesn’t. When I hire I’m hiring the person. They’re some real entitled turds who have a degree and can’t get out their own way. I have a mix of employees with and without degrees and the paper degree doesn’t make a hill of beans if the work ethic ain’t shite.
Posted on 5/3/23 at 8:13 am to RogerTheShrubber
quote:
a condo or mobile home....
I'm looking to go the mobile home route, idgaf about being looked down by society. Manufactured housing has gotten a lot nicer since my childhood.
Condos have gotten sneaky expensive as well. You have to take the HOA fees into consideration when buying a condo.
This post was edited on 5/3/23 at 8:15 am
Posted on 5/3/23 at 8:14 am to Nelson Biederman IV
quote:
Housing is ridiculous.
While I do not exactly know what is going on with the housing markets outside of my area, I do know there is a shortage where I live. We had a crap ton of west coasters start moving in around late 2018. It benefitted me greatly. Worth of my house rose from $420 to well over $1mil. But more to the point, local governments are not building single family homes. They are building huge apartment complexes instead. It is about "population density" and keeps home prices way higher than they should be.
Posted on 5/3/23 at 8:14 am to VADawg
quote:This is true more times than not. Along with dodging gunfire you have no choice but to spend 5-10K a year on private school also because the schools are full of animals who have no intention of learning. So why would you spend money on a starter to fix up in a shitty neighborhood with shitty neighbors.
The only places homes like that still exist are in places where you have to dodge gunfire walking to the mailbox.
The older generation won’t admit the world has changed drastically from what they grew up in. Probably because they are part of the reason it has changed for the worse.
Posted on 5/3/23 at 8:15 am to Allthatfades
Only fans
Posted on 5/3/23 at 8:15 am to Nelson Biederman IV
quote:
So here are some statistics to go along with your 1996 $30,000 salary:
$30,000 in 1996 is equal to $57,822 as of March 2023.
The average cost of a new home in Louisiana in 1996 was $88,000.
The MSRP on a new F-150 in 1996 was $14,190.
Today the median home price in Louisiana is $266,000.
The MSRP of that F150 is $43,318.
So the as a ratio to income, the house in 1996 was 2.93 years salary. The truck was less than 6 months salary.
In 2023 that breakdown is 4.6 years salary and the truck is 9 months salary.
Housing is ridiculous. Inflation is 7 times higher. The overall cost of goods is much higher. But yeah, you just have to do what you did.
Thank you.
This notion that "kids just don't want to work for it" is, for the most part, bullshite.
These kids are staring down the barrel of a permeant serf class status because our politicians have completely destroyed the currency. It's hard not to be jaded when you see you have very little chance to live even the middle/upper middle class lifestyle your parents had despite having the same credentials.
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