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re: Is The Economy really bad?
Posted on 8/25/25 at 1:21 pm to TideCPA
Posted on 8/25/25 at 1:21 pm to TideCPA
quote:
The last 5 years of inflation and specifically two major costs even far outpacing general inflation and wages (education and housing) are enormous impediments to wealth building for young adults. Really at this point unless you have help/inheritance or are an exceptionally high earner, it's almost impossible to save the same as your parents did on a relative basis
This is fact, yet the plight of the people trying to enter the workforce and start families and build wealth gets blamed on consumerism A LOT.
I don't understand it. Yes, there are basic white bitches in white platinum expeditions plugging up the Starbucks lines every day. That doesn't change the above facts nor it is indicative of economics in America in 2025.
2
Posted on 8/25/25 at 1:21 pm to DownshiftAndFloorIt
quote:
300 of them is $2,700 Median home price is $414k ( memory from previous post) It aint the coffee.
But you know what is $2700? A set of Speed Queens. Or, stop drinking take out coffee for 5 years, and put that money in your piggy bank. Boom. $13,500 to put down on a house.
There are tons of precious homes in the BR area for under $250k. That coffee money is more than enough for a down payment.
Posted on 8/25/25 at 1:26 pm to TideCPA
It's almost as if injecting all that Covid money (PPP, Stimulus cks, etc) was a really stupid idea.
Remember when McGovern was going to give everyone $1000 and economists said it would cause inflation?
I was 10 and I remember.
Remember when McGovern was going to give everyone $1000 and economists said it would cause inflation?
I was 10 and I remember.
Posted on 8/25/25 at 1:27 pm to HouseMom
Mam, I understand the point you are trying to make here, but you need to research the statistics that others have cited in this thread.
If somebody had started saving that starbucks money in 2020, the house they were planning to buy would be twice as expensive now as it was in 2020. Housing prices have drastically outstripped salaries over the past decade and have been doing so for a long time now.
The kids these days could be eating rice and beans and drinking water all day every day and it wouldn't make much of a difference. Shits hard on people starting out right now, and it's not because they spend too much money on frivolous shite.
If somebody had started saving that starbucks money in 2020, the house they were planning to buy would be twice as expensive now as it was in 2020. Housing prices have drastically outstripped salaries over the past decade and have been doing so for a long time now.
The kids these days could be eating rice and beans and drinking water all day every day and it wouldn't make much of a difference. Shits hard on people starting out right now, and it's not because they spend too much money on frivolous shite.
Posted on 8/25/25 at 1:28 pm to DownshiftAndFloorIt
quote:
the plight of the people trying to enter the workforce and start families and build wealth gets blamed on consumerism A LOT.
The way young people spend money now is completely different than the way we spent money when I was in my early 20's. It's shocking.
Posted on 8/25/25 at 1:29 pm to DownshiftAndFloorIt
Price tuition and get back to me...
It is ridiculous when a decent undergrad degree is $100k+.
ETA; sorry, meant to reply to House Mom
It is ridiculous when a decent undergrad degree is $100k+.
ETA; sorry, meant to reply to House Mom
This post was edited on 8/25/25 at 1:34 pm
Posted on 8/25/25 at 1:33 pm to greenbean
In 1968 a black unskilled factory worker just starting out life had a better standard of living than young married college graduates today. The young man was paying for a house, two old cars, a stay-at-home wife and two kids. The young man was buying a $25 US Savings Bond every pay period saving for his kids' education I worked with the guy at the Lilliston Implement Company factory..
Posted on 8/25/25 at 1:35 pm to DownshiftAndFloorIt
quote:
If somebody had started saving that starbucks money in 2020, the house they were planning to buy would be twice as expensive now as it was in 2020. Housing prices have drastically outstripped salaries over the past decade and have been doing so for a long time now.
But it doesn't matter. A home's "worth" is only as much as someone is willing to pay for it at one single point in time. Yes, it sucks that buying power declined, but don't throw the baby out with the bath water. Don't just YOLO your life away and spend into oblivion.
Again, go to Zillow right now and search homes in the BR area. Tons of precious, affordable homes are available right now.
Posted on 8/25/25 at 1:36 pm to N2cars
quote:
It is ridiculous when a decent undergrad degree is $100k+.
Only if you fail to qualify for the plethora of ways to help fund your degree.
Posted on 8/25/25 at 1:37 pm to HouseMom
quote:
That coffee money is more than enough for a down payment.
What all is "coffee money" to you. You can't possibly think it's just coffee stopping someone from buying a house
Posted on 8/25/25 at 1:37 pm to HouseMom
quote:
Again, go to Zillow right now and search homes in the BR area. Tons of precious, affordable homes are available right now.
yeah but what's the going rate on home insurance, flood insurance, etc?
That increase in price is also tapping a lot of folks out of the market.
Posted on 8/25/25 at 1:39 pm to cubsfan5150
Tops had good intentions, and my kids used it, but thay just allowed schools to jack up rates, which ultimately, we all ended up paying.
Grad school and doctorates; you're on your own.
Grad school and doctorates; you're on your own.
Posted on 8/25/25 at 1:52 pm to saint tiger225
quote:
It's really wild seeing people cheering on tariffs and thinking that we're not paying for it.
I own a used record shop and the tariffs will mean I cut employee hours and also raise prices.
About 50% of my sales are used records I get from an assortment of shops in Europe and Japan, simply bringing records from places they were pressed back in the 50s-90s and plentiful to where they are hard to find.
The gut punch is coming now since it's been possible to keep a lot of orders under the $800 threshold so far.
Also a lot of shipments held up in limbo right now as delivery services around Europe deal with how to implement the tariff collection (and they'll probably raise prices to compensate for the extra work).
Since the 35% tariff will eat the complete markup margin that made the business model work I plan to cut some staff and then use special price stickers that denote the extra tariff % that will be passed on customers (about 20% higher prices).
I'm sure gigantic corporate businesses have many ways to absorb or hide the costs of the tariffs. But for a small business like mine it's simply try to openly get customers to pay a little more (pray they can and will) and cut back on staff.
Not sure which is more absurd: putting a tariff on a second hand object manufactured in the 1980s or the idea that this isn't horrible for many small business owners and their employees.
This post was edited on 8/25/25 at 5:07 pm
Posted on 8/25/25 at 1:53 pm to HouseMom
quote:That's easy to say for someone whose primary asset appreciated 100% or more in the last 5 years. These days you've got newly minted college grads coming out of school with a higher debt-to-earnings ratio than many of their parents had after securing the mortgage on their first house. Telling them to skip the coffee so they can one day have the pleasure of attempting to service a $3,000+ monthly mortgage payment on top of their student loans doesn't really resonate.
Yes, it sucks that buying power declined, but don't throw the baby out with the bath water. Don't just YOLO your life away and spend into oblivion.
Posted on 8/25/25 at 1:57 pm to HouseMom
I'm working on selling a house right now. The market has basically crashed in south LA but nobody is calling it that for some reason?
But still, I don't see these precious affordable homes in BR. I see clapped out garbage in the hood for under $200k and $400k+ McMansions.
But still, I don't see these precious affordable homes in BR. I see clapped out garbage in the hood for under $200k and $400k+ McMansions.
Posted on 8/25/25 at 2:04 pm to N2cars
quote:
Tops had good intentions, and my kids used it, but thay just allowed schools to jack up rates, which ultimately, we all ended up paying.
I think it's a bit misplaced to blame TOPS for rising costs, given that it has happened nationwide, and TOPS only exists in Louisiana.
Posted on 8/25/25 at 2:10 pm to Galactic Inquisitor
Back to housing costs, the current home price/median income ratio was at an all-time high of 7.37 in February. The 2008 housing bubble reached a peak ratio of 6.81. For reference, that ratio was below 5 from March 1959 until April 2002. It was close to 4 in 1998 before the bubble took over.
We are absolutely in the middle of an underreported housing crisis/bubble. The big issue we are going to have to face is that affordability means that a lot of people who have purchased over the last 20 years are at risk of a major loss of equity.
We are absolutely in the middle of an underreported housing crisis/bubble. The big issue we are going to have to face is that affordability means that a lot of people who have purchased over the last 20 years are at risk of a major loss of equity.
This post was edited on 8/25/25 at 2:16 pm
Posted on 8/25/25 at 2:13 pm to Mingo Was His NameO
quote:
The fact that you wear this like it’s some badge of honor is fricking pathetic
The values and financial discipline drilled into me at an early age have served me well in my adult life. We'd have way fewer entitled brats bitching these days if they had learned them as well.
This post was edited on 8/25/25 at 2:14 pm
Posted on 8/25/25 at 2:13 pm to Galactic Inquisitor
Keep your facts and data
We all know it’s those damn avocado frappe Netflix specials
We all know it’s those damn avocado frappe Netflix specials
Posted on 8/25/25 at 2:19 pm to Dire Wolf
Vehicle prices have gotten absurd. I'm driving my 2018 F150 till the damn wheels fall.
Back in 2019, I bought one of my kids a 2018 Mazda3 with 7k miles on it for about $17k.
Two or three years later, walking around CarMax, the same damn 2018 model with over 20k miles on it had a $20k+ price tag.
Back in 2019, I bought one of my kids a 2018 Mazda3 with 7k miles on it for about $17k.
Two or three years later, walking around CarMax, the same damn 2018 model with over 20k miles on it had a $20k+ price tag.
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