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re: Millenial homeowners "get real" about their success
Posted on 6/6/19 at 12:01 pm to lsupride87
Posted on 6/6/19 at 12:01 pm to lsupride87
Hmmm. I thought you were E. Rubin's age. Guess I was wrong. Carry on.
1
Posted on 6/6/19 at 12:03 pm to Janky
Nah. We knew each other but Ed (RIP) was on the team before me.
This post was edited on 6/6/19 at 12:04 pm
Posted on 6/6/19 at 12:04 pm to lsupride87
Gotcha.
Posted on 6/6/19 at 12:27 pm to GreatLakesTiger24
quote:
I’ll pay a premium to not have a commute like that
Idk how people can commute 45+ minutes each way
In my neck of the woods, starter homes are over an hour drive from the city center in the afternoon. At some point, building equity becomes silly when it involves spending 2 hours in your car every day.
That's why it's so frustrating that more affordable property doesn't exist within a more reasonable distance from town. That is a planning problem. It's not an inevitability.
Not everyone wants a flashy urban pad next to a cool bar. Some people just want a modest house with a reasonable commute. And maybe a sidewalk. Maybe a few walkable amenties. You shouldn't have to be a glorified millionaire to afford that lifestyle.
We just built a country biased towards the automobile and the super suburban isolated lifestyle. An older dude in my office actually has an apartment down the street from work so that he doesn't have to drive home every day. I kid you not. He works 4 days a week and sometimes doesn't go home just to avoid the traffic. It's wild.
This post was edited on 6/6/19 at 12:34 pm
Posted on 6/6/19 at 12:42 pm to GreatLakesTiger24
quote:
I’ll pay a premium to not have a commute like that
That’s fine, as long as you understand you are paying a premium and don’t complain as if the world has wronged you because you can’t get ahead (and I mean this broadly not you specifically).
quote:
Idk how people can commute 45+ minutes each way
I do it and don’t really mind it at all, considering a 15-20 minute commute is about as good as you could ask for(or it takes time to get to work either way). However I drive the bridge which is a straight shot with very manageable traffic and wouldn’t like to be much longer. I don’t work downtown and would take a lot more $ to do so because of the commute, so I can completely understand considering paying a premium.
Posted on 6/6/19 at 12:51 pm to pizzatiger
quote:
That's why it's so frustrating that more affordable property doesn't exist within a more reasonable distance from town. That is a planning problem. It's not an inevitability
Lol, this is what I am talking about. Poor planning got us here but if you want centralized business districts, real estate is going to be much less affordable the closer you get to those districts no matter how things were planned. Young people that have just started their careers would always have trouble finding housing in either situation.
And at some point, no matter how things were planned there will be areas reasonably close to the city where people just don’t want to be because of the lack of investment in the area. At the heart of it all, this has always been the “problem” and why urban sprawl occurred.
Posted on 6/6/19 at 12:54 pm to pizzatiger
quote:
In my neck of the woods
Where is your neck of the woods?
Posted on 6/6/19 at 12:58 pm to kingbob
quote:
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?
If I sat there and got mad about all the things the federal government has messed up on I would never leave my house.
Posted on 6/6/19 at 1:17 pm to jchamil
quote:
Where is your neck of the woods?
Austin.
I live in south austin within the city limits. It's not a super urban area. More like suburbs v1.0. My office is in north austin 13.1 miles away and it takes me over an hour to get home most of the time
Laughably bad planning.
There are third world countries with better transportation infrastructure and options. No joke.
This post was edited on 6/6/19 at 1:20 pm
Posted on 6/6/19 at 1:25 pm to pizzatiger
Yep, it is all because of bad planning. Maybe you should tell your company to move offices to the south side since it is all about making pizzatiger happy.
Posted on 6/6/19 at 1:37 pm to Janky
quote:
Yep, it is all because of bad planning. Maybe you should tell your company to move offices to the south side since it is all about making pizzatiger happy.
That's not what I said but Austin has atrocious planning and that is a big part of the problem. I'd love to see you try to actually argue otherwise rather than misconstruing my post
Posted on 6/6/19 at 1:39 pm to pizzatiger
I don't really give a shite, but your constant whining isn't going to change it.
Posted on 6/6/19 at 1:40 pm to pizzatiger
quote:
Austin. I live in south austin within the city limits. It's not a super urban area. More like suburbs v1.0. My office is in north austin 13.1 miles away and it takes me over an hour to get home most of the time
Gotcha. I've only been to Austin about 30 years ago when I was 6-7, so I'm not familiar with the sprawl or traffic there
Posted on 6/6/19 at 1:47 pm to Muthsera
I hate the Millennial conversation. My wife and I are millennials and we both started working jobs (not necessarily careers) directly out of college. We moved to Houston, Texas in 2008/2009 during the shite storm of the recession. After paying $1,500 for one bedroom apt we bought a piece of shite just east of downtown in the hood. We worked all week, worked on house on weekends, and barely made ends meet. It took 1.65 paychecks (3 weeks of work) to pay the mortgage @ 23 years old during recession. After 3 years we sold the house for $30k profit (sweat equity) and bought a $180k townhome in Midtown. Sold it a few years later and moved back to Louisiana and put down $40k on the next house. Our parents didn't have it easier they did it the same way.
The PROBLEM is most of us millennials don't start adult"ing" until 28 years old and by then you are ready to start being what you remember your parents as being. BUT you aren't starting that cycle until almost 30 when your parents started at 23yr old. You've got to put in the time to reap the benefits. STFU with this "they had it easier bull shyt." They had their problems, You have yours, Move on and conquer life.
The PROBLEM is most of us millennials don't start adult"ing" until 28 years old and by then you are ready to start being what you remember your parents as being. BUT you aren't starting that cycle until almost 30 when your parents started at 23yr old. You've got to put in the time to reap the benefits. STFU with this "they had it easier bull shyt." They had their problems, You have yours, Move on and conquer life.
Posted on 6/6/19 at 2:13 pm to Auslander
quote:
Not, it's not. Delta slopes downward as you increase commute away from city centers.
The reason why you don't find more affordable property closer to city centers are for:
1. Those who have higher disposable income will naturally compete for the same item, thus increaseing the price of said item.
2. Person who ends up buying said property is not going to build a house that can be affordable for the next person. The builder/owner of the property will try to maximize profitability and pass the cost onto someone else.
The planning component is that cities can decide how much density is allowed in areas, how much parking is required, whether sidewalks and bike lanes are constructed, etc. All of this has an effect.
For example, San Francisco is extremely restrictive. You can't build anything new there. The prices are going to be high, but they are even higher because of poor planning. No new supply to absorb demand.
This post was edited on 6/6/19 at 2:14 pm
Posted on 6/6/19 at 2:18 pm to mthorn2
quote:
The PROBLEM is most of us millennials don't start adult"ing" until 28 years old and by then you are ready to start being what you remember your parents as being. BUT you aren't starting that cycle until almost 30 when your parents started at 23yr old. You've got to put in the time to reap the benefits. STFU with this "they had it easier bull shyt." They had their problems, You have yours, Move on and conquer life.
I think there's a difference between complaining just to complain and advocating for better policy so that we don't make the same mistakes as before.
I know what I have to do. I have saved almost $100k to buy a house. It's been hard work. I just look around and realize that we could do a much better job of housing the population.
Posted on 6/6/19 at 2:19 pm to mthorn2
There is a great divide amongst millennials, older vs younger. The generation is very different when you compare the ones born until late 80s to those born in early to mid 90s that are young (brand new) adults now.
Posted on 6/6/19 at 2:28 pm to OceanMan
quote:
That’s fine, as long as you understand you are paying a premium and don’t complain as if the world has wronged you because you can’t get ahead (and I mean this broadly not you specifically).
This is my biggest problem with this subject. The people who behave as though not having access to a 150k awesome house in a downtown area of a really cool city is a violation of their civil rights. You want to live where the action is? Cool, but you are going to sacrifice things.
Posted on 6/6/19 at 2:30 pm to OceanMan
quote:
There is a great divide amongst millennials, older vs younger. The generation is very different when you compare the ones born until late 80s to those born in early to mid 90s that are young (brand new) adults now.
This. I was born in '82, so by most groupings I've seen I am a millennial. I don't really feel like I have a whole lot in common with my 2 youngest cousins born in the mid 90's who never knew a world without the internet
Posted on 6/6/19 at 2:30 pm to lsuhunt555
quote:literally no one is saying this
This is my biggest problem with this subject. The people who behave as though not having access to a 150k awesome house in a downtown area of a really cool city is a violation of their civil rights. You want to live where the action is? Cool, but you are going to sacrifice things.
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