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Started By
Message
re: Millenial homeowners "get real" about their success
Posted on 6/6/19 at 10:28 am to pizzatiger
Posted on 6/6/19 at 10:28 am to pizzatiger
quote:
So you think the massive suburban sprawl was a good idea?
I'm neutral. It certainly gave millions of people an opportunity to live in their own homes at affordable prices.
Not everyone wants to be rats in vertical cages.
3
Posted on 6/6/19 at 10:29 am to lsuhunt555
Broke even on the sale. Lost a ton with yearly upkeep.
And I’m actually wrong. We didn’t actually break even. Bought for $179k and sold for $172k so it was a loss. We didn’t owe anything at closing on the sale thanks to equity, so I said “break even.”
That’s not a starter home. That’s a “frick you for trying” deal.
And I’m actually wrong. We didn’t actually break even. Bought for $179k and sold for $172k so it was a loss. We didn’t owe anything at closing on the sale thanks to equity, so I said “break even.”
That’s not a starter home. That’s a “frick you for trying” deal.
This post was edited on 6/6/19 at 10:30 am
Posted on 6/6/19 at 10:30 am to kingbob
In 100 years we’re going to look back at this and think WTF
Posted on 6/6/19 at 10:32 am to RogerTheShrubber
quote:
I'm neutral. It certainly gave millions of people an opportunity to live in their own homes at affordable prices.
Not everyone wants to be rats in vertical cages.
You can build mixed used neighborhoods with sidewalks and standalone homes.
Posted on 6/6/19 at 10:34 am to RogerTheShrubber
quote:
I'm neutral. It certainly gave millions of people an opportunity to live in their own homes at affordable prices.
Not everyone wants to be rats in vertical cages.
But it wouldn't have been THAT much more expensive to lay these neighborhoods out in a grid. The debate isn't between single family homes and apartments/condos, it's neighborhoods that look like this:
verses
Besides, let's not forget that what triggered that mass migration in the 70's-90's to the suburbs wasn't some desire for a "lifestyle" but a response to a massive federal government overreach in the way it handled desegregation of public schools. People were fleeing "bad" school districts and running towards "good" school districts so their children wouldn't get knifed at the bus stop.
This post was edited on 6/6/19 at 10:38 am
Posted on 6/6/19 at 10:34 am to RogerTheShrubber
quote:
I'm neutral. It certainly gave millions of people an opportunity to live in their own homes at affordable prices.
Not everyone wants to be rats in vertical cages.
Clearly not. But we most certainly have the wrong mix. Hence the current supply/demand problems.
Posted on 6/6/19 at 10:38 am to pizzatiger
quote:
But we most certainly have the wrong mix. Hence the current supply/demand problems.
The collapse of the Rust Belt and migration to coastal cities has a lot to do with that.
Also smaller towns/cities out West haven't suffered the same fate as those in the South or Midwest. Demand is still pretty tight.
Posted on 6/6/19 at 11:08 am to GreatLakesTiger24
quote:
These clowns want 23 year olds to buy shitty houses 50 miles from their job. There’s no reasoning with them
I would merely suggest that you become open to this as you advance in your career and family life. Cities are expensive and that isn’t going to change.
Owning a home shouldn’t be a hard and fast priority. It is just a way to store wealth. Do your best to store wealth one way or another, especially if you can’t afford to buy a house right when you start your career. As you advance, diversify your wealth. It’s a process.
Renting a place isn’t the end of the world. Many people do it, especially when they are young because of both lifestyle and liquidity purposes. Both of which are fine, and can be wise decisions.
But it seems like there are people in this thread that just can’t accept that this conversation comes down to sacrifices and trade offs. To be honest, it comes off as whiny and likely why millennials have the reputation that we do. Let’s not act like the main reason city life is desirable, especially for young people, is because there are many things to do, which ultimately separate you from your wealth. For many young people, creating wealth is an uphill battle because they start their careers in debt because of (in hindsight) questionable financial decisions in where they went to school (how much it cost) , the degree they chose (how much you can earn) and how much they had to borrow to make that happen. At some point, convenience and desires have to be balanced with a little discipline by facing the world for what it is and not lamenting for the way it should be.
Lastly for context, as I said earlier in this thread, I would love to live in a big city like NYC. I lived in NOLA for 7 years. I loved it, and I miss at times but ultimately purchasing a home there just wasn’t a great financial decision for me, particularly because of a large down payment that would be required. The reason I share that is because I can see this conversation from both angles and don’t want to condemn anyone for making their life easier, especially when young and wanting to sort things out.
Yeah, that was a rant, and I sound like an old man.
Posted on 6/6/19 at 11:22 am to OceanMan
people mostly live in suburbs for one reason and one reason only:
public schools
Just imagine what our cities and suburbs would look like today if our federal government hadn't ruined urban public schools, effectively forcing the middle class to flee?
public schools
Just imagine what our cities and suburbs would look like today if our federal government hadn't ruined urban public schools, effectively forcing the middle class to flee?
This post was edited on 6/6/19 at 11:23 am
Posted on 6/6/19 at 11:29 am to OceanMan
quote:
OceanMan
Good post.
Posted on 6/6/19 at 11:36 am to Muthsera
When my parents bought a house in 1984, the mortgage rate was 13%. Millenials are soft as Charmin
Posted on 6/6/19 at 11:39 am to Man4others
Yawn
Posted on 6/6/19 at 11:46 am to Man4others
quote:And the median house was $82,000, college tuition was $2800 for the year, and an undergrad degree in any subject held weight
When my parents bought a house in 1984, the mortgage rate was 13%
Posted on 6/6/19 at 11:48 am to lsupride87
quote:
lsupride87
Dang bruh, you just waking up?
Posted on 6/6/19 at 11:50 am to Janky
quote:Lunch break
Dang bruh, you just waking up?
Woke up at 6:30 am when the youngest rolled out of bed. Then headed to work
This may sound crazy, but I am a millenial male married to a female who has a job, a home, and kid
According to this board, that seems impossible because millenials are all queer cis people who refuse to move out of moms basement and dont have children
Posted on 6/6/19 at 11:52 am to lsupride87
quote:
but I am a millenial
What are you 38-39?
Posted on 6/6/19 at 11:54 am to OceanMan
quote:I’ll pay a premium to not have a commute like that
would merely suggest that you become open to this as you advance in your career and family life. Cities are expensive and that isn’t going to change.
Idk how people can commute 45+ minutes each way
Posted on 6/6/19 at 11:54 am to Janky
31, almost 32
This post was edited on 6/6/19 at 11:55 am
Posted on 6/6/19 at 11:55 am to lsupride87
I must be thinking of someone else. Did you play tennis?
Posted on 6/6/19 at 11:56 am to Janky
Yep
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