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re: Millenial homeowners "get real" about their success
Posted on 6/5/19 at 1:26 pm to AU_251
Posted on 6/5/19 at 1:26 pm to AU_251
quote:
You don't think you can find a 150k house in rural Indiana, Ohio, Idaho, Kansas, Virginia, etc......
I’m talking about single family detached housing in cities and metro areas outside of the south where most professionals actually want to live at. Not some hillbilly town that gets excited cause they finally now have their own McDonalds or Dollar General.
Of course housing is cheaper in many rural areas.
This post was edited on 6/5/19 at 1:27 pm
4
Posted on 6/5/19 at 1:26 pm to MrJimBeam
quote:
In the burbs? Easily. But if you want to live near work, it's difficult. Traffic absolutely sucks so the prices of homes near any big area is atrocious. I'd like to see some of these 160k homes that you can buy in Baton Rouge that aren't completely outdated or in the ghetto.
My first house was off of Juban way before most of that was developed. I would have preferred to live closer to work but I couldn't afford it so I moved to where I could.
Posted on 6/5/19 at 1:27 pm to lsupride87
quote:
If you are saying paying 90k off in 5 years isnt difficult like that should be expected, I just dont kno what to say
honestly...
Antonio, paying off $90,000 plus interest over 5 years is a huge sum. What was that? roughly $20K/year you put toward those loans? And you act as if that's a normal thing?
Most people take years to obtain the type of salary it requires to pay off a loan of that amount. Because most people don't start off making more than $150K right out of grad school.
Posted on 6/5/19 at 1:27 pm to Janky
quote:
But if you want to live near work
quote:
completely outdated
sigh.
Good luck getting young people to live in BR when they have to spend an hour and a half a day in traffic or live in the ghetto/shithole.
Posted on 6/5/19 at 1:30 pm to fallguy_1978
quote:
My first house was off of Juban way before most of that was developed. I would have preferred to live closer to work but I couldn't afford it so I moved to where I could.
I was under the impression that we were talking about Baton Rouge, not Denham Springs or Walker. You can find very cheap property out there that's of decent value. I just hope you don't have to commute to BR every day because it's a nightmare.
Posted on 6/5/19 at 1:30 pm to lsupride87
quote:
If you are saying paying 90k off in 5 years isnt difficult like that should be expected, I just dont kno what to say
Buy a small home with a low monthly note
Don't spend money on new vehicles
Fund 401K to match but not over
Take all surplus money and save it in a single account - pay off loans in order from highest to lowest interest rate as soon as there is enough in the account.
It started off slow because of the minimums on the loan payments but once they started getting paid off it created a snowball effect. I had eleven loans total. It took three and half years to pay off six of them and only a year and half to pay off the last five.
Posted on 6/5/19 at 1:30 pm to Muthsera
I find it so ironic that these entitled, whiny arse millennials (not that I am saying ALL millennials are entitled and whiny) are seemingly clamoring for some sort of government intervention into the housing market... not realizing that much of the "despair" they currently face is precisely due to government intervention in the housing market - or student loans. 
This post was edited on 6/5/19 at 1:31 pm
Posted on 6/5/19 at 1:31 pm to 50_Tiger
quote:
I dont know too many graduates who have 18k a year after taxes to push toward a loan + other expenses.
You aren't very good at finance.
Posted on 6/5/19 at 1:31 pm to Norbert
Or student loan involvement as well.
ETA: nice edit.
ETA: nice edit.
This post was edited on 6/5/19 at 1:33 pm
Posted on 6/5/19 at 1:32 pm to Antonio Moss
quote:Dude
You aren't very good at finance.
You are in this thread saying a new grad should :
Buy a house and pay off 90k in debt in 5 years
You are completely out of touch with finance of the average grad
Posted on 6/5/19 at 1:34 pm to Uhtred
quote:
honestly...
Antonio, paying off $90,000 plus interest over 5 years is a huge sum. What was that? roughly $20K/year you put toward those loans? And you act as if that's a normal thing?
Again, it wasn't $20K each year. It was more like 10K the first year, 12K the second, 20K the third, 30K the fourth and whatever was left the fifth.
And mine were from grad school so I had an advanced degree in the market.
Posted on 6/5/19 at 1:36 pm to lsupride87
quote:
Dude
You are in this thread saying a new grad should :
Buy a house and pay off 90k in debt in 5 years
You are completely out of touch with finance of the average grad
At 27 years old, how long would it have taken you to save $6,500.00?
Posted on 6/5/19 at 1:36 pm to Antonio Moss
quote:You were making 100-150k then to do this realistically while also buying and owning a home assuming you are telling the truth
Again, it wasn't $20K each year. It was more like 10K the first year, 12K the second, 20K the third, 30K the fourth and whatever was left the fifth.
You are making the top 1% of a new grad. Congrats. Stop trying to equate that to the average. It makes you look foolish or braggadocios, or both
Posted on 6/5/19 at 1:37 pm to Antonio Moss
quote:Around 8-12 months
At 27 years old, how long would it have taken you to save $6,500.00?
Posted on 6/5/19 at 1:37 pm to Antonio Moss
quote:
And mine were from grad school so I had an advanced degree in the market.
So your results aren't typical lol
Posted on 6/5/19 at 1:37 pm to lsunurse
quote:
I’m talking about single family detached housing in cities and metro areas
exactly. Just because you want to live in the shitholes called NYC and LA doesn't mean there isn't affordable housing in 95% of the country. dumbass
Posted on 6/5/19 at 1:37 pm to Antonio Moss
quote:
And mine were from grad school so I had an advanced degree in the market.
Even so. are you really making the argument that the average person should be able to be that aggressive in paying off a student loan of that amount AND save for a home?
Posted on 6/5/19 at 1:38 pm to Uhtred
quote:No. He is saying they should do that while already somehow owning a home
are you really making the argument that the average person should be able to be that aggressive in paying off a student loan of that amount AND save for a home?
Posted on 6/5/19 at 1:38 pm to Antonio Moss
quote:
Antonio Moss
hey lsunurse, if that is your real profession, go look at Antonio's post on the previous page. Your argument is finished. Completely false.
Posted on 6/5/19 at 1:39 pm to MrJimBeam
quote:
Good luck getting young people to live in BR when they have to spend an hour and a half a day in traffic or live in the ghetto/shithole.
I'm looking at ten condos for sale between $112K-$157K in nice complexes right along side Jefferson and Bluebonnet.
But please tell me how there is no affordable housing in good areas of the BR.
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