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re: Millenial homeowners "get real" about their success

Posted on 6/4/19 at 10:58 pm to
Posted by GreatLakesTiger24
One State Solution
Member since May 2012
55675 posts
Posted on 6/4/19 at 10:58 pm to
quote:

Just curious but what generation are most of the millennials parents from?

boomers
Posted by StringedInstruments
Member since Oct 2013
18422 posts
Posted on 6/4/19 at 11:00 pm to
quote:

You weren't the poster asking about moving to Apache Junction were you?


Nope. Not me. Isn’t Apache Junction the white trash meth part of Phoenix?
Posted by Tigerlaff
FIGHTING out of the Carencro Sonic
Member since Jan 2010
20878 posts
Posted on 6/4/19 at 11:42 pm to
Anyone got cliffs on this thread? I was relaxing in my big arse pool out back.
Posted by Wishnitwas1998
where TN, MS, and AL meet
Member since Oct 2010
58274 posts
Posted on 6/5/19 at 12:05 am to
quote:

House cost: $9,200 Down payment: $9,200 Monthly payment: $350


I’ll admit that I don’t have time to read the link but wtf are these numbers?
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
35354 posts
Posted on 6/5/19 at 12:25 am to
Under 30 homeowner checking in. House appraised for 50k more than the purchase price too #blessed
Posted by drockw1
Member since Jun 2006
9115 posts
Posted on 6/5/19 at 1:20 am to
quote:

“keep up with the Jones'".


Biggest problem among 20-30 yr olds right now and social media is absolutely exacerbating it.

If you scroll through Instagram seven times a day, someone is bound to be having a better day than you. And conversely, you’re not posting what a shitty day you’re having.

This life is simple: find the easiest way to be happy...and it isn’t through people taking goddamn selfies.
Posted by Paul Allen
Montauk, NY
Member since Nov 2007
75219 posts
Posted on 6/5/19 at 1:22 am to
quote:

Biggest problem among 20-50 yr olds right now and social media is absolutely exacerbating it.
Posted by stelly1025
Lafayette
Member since May 2012
8518 posts
Posted on 6/5/19 at 4:43 am to
Buzzfeed and retardation are synonymous...
Posted by SoulGlo
Shinin' Through
Member since Dec 2011
17248 posts
Posted on 6/5/19 at 5:19 am to
quote:

If it’s this bad for us...what will happen with the kids coming of age soon?


Those kids look at millennials and say "what a bunch of pussies. I can take care of myself."

quote:

I don't know what to do about my friends that face structural barriers, like a friend who has a six-digit down payment to buy but needs an accessible building with nearby subway access, and there simply isn't anything like that in our market under $1 million


In my years of experience, I have noticed that the vast majority of limitations people face are self-imposed.

Move.
Posted by civiltiger07
Baton Rouge
Member since Dec 2011
14033 posts
Posted on 6/5/19 at 5:27 am to
quote:

while I do agree that it may be a little harder now than it was when, say my parents were my age


What do you mean? When my parents bought their first house they best interest rate they could get was 15%.
Posted by Barbellthor
Columbia
Member since Aug 2015
8636 posts
Posted on 6/5/19 at 5:30 am to
quote:

Also, we should get rid of local property taxes, ensure all schools are good

Does not compute.

quote:

my friends that face structural barriers, like a friend who has a six-digit down payment to buy but needs an accessible building with nearby subway access, and there simply isn't anything like that in our market under $1 million.

First, that’s not a “structural” barrier, whatever exactly that’s supposed to mean. Second, holy crap these people are doing well for themselves (presumably fairly young) if this is the general cost base they can at least afford to look at. Third, they could move from their expensive Seattles of the world to somewhere with a manageable cost of living.
Posted by NYNolaguy1
Member since May 2011
20900 posts
Posted on 6/5/19 at 5:55 am to
quote:

If you can't afford to come up with the money for and pay an FHA loan on a $150k house, you don't deserve to have a house


I agree, but good luck finding a $150k house within two hours of NYC that you wont share with rats and holes in the roof.

That number is likely closer to $300k and then you get to choose if you want a house or kids, which is essentially another mortgage payment.

Between $1600/month for daycare/kid, and another $1900 for tax/p+i/escrow, most people around here need $3500+ a month in disposable income. And that buys you a 1800 sq ft house 75 miles from the city .

I suspect those numbers are typical of any large city in the US.

Most people don't and will never have that kind of cash.
Posted by RealityTiger
Geismar, LA
Member since Jan 2010
20446 posts
Posted on 6/5/19 at 6:10 am to
shite good luck finding a $150k house in Baton Rouge and surrounding suburbs. If you do, I can promise you it'll be in the hood.
Posted by tigertown79
Lafayette
Member since Dec 2007
435 posts
Posted on 6/5/19 at 6:15 am to
The millennial way:
I don’t want the low level starter job that doesn’t pay well, I want the top level job with no experience.

Same application of thought,
I want a nice home in the “trendy” part of town with all the nice amenities but don’t want to pay for it.

I Hate the millennial mindset!
Posted by Muthsera
Member since Jun 2017
7319 posts
Posted on 6/5/19 at 6:20 am to
quote:


I’ll admit that I don’t have time to read the link but wtf are these numbers?


They paid cash for the house on Craigslist, then took out a loan against it to make improvements because it was a complete shithole.
Posted by civiltiger07
Baton Rouge
Member since Dec 2011
14033 posts
Posted on 6/5/19 at 6:48 am to
quote:

shite good luck finding a $150k house in Baton Rouge and surrounding suburbs


I paid 160k for my house in WBR 6 years ago.
Posted by Hammertime
Will trade dowsing rod for titties
Member since Jan 2012
43030 posts
Posted on 6/5/19 at 6:51 am to
So don't live within two hours of NYC if you want a house that badly

You can't expect that bussing tables in the Hamptons will allow you to afford your dream house in the Hamptons. Either make more money, or move
Posted by GetCocky11
Calgary, AB
Member since Oct 2012
51298 posts
Posted on 6/5/19 at 6:54 am to
quote:

The millennial way:
I don’t want the low level starter job that doesn’t pay well, I want the top level job with no experience.

Same application of thought,
I want a nice home in the “trendy” part of town with all the nice amenities but don’t want to pay for it.

I Hate the millennial mindset!


You probably think Buzzfeed articles are an accurate representation of today's 30 year olds (millennials).
This post was edited on 6/5/19 at 6:55 am
Posted by lsu777
Lake Charles
Member since Jan 2004
31207 posts
Posted on 6/5/19 at 7:08 am to
Yep, same dumbass kids that complain on social media and post comments like "must be nice to be able to go on vacation every year" "must be nice to.....fill in the blank"

I want to slap the shite out of them. Mother fricker you knew if you didn't pay attention in school you would end up a ditch digger etc. I know you knew because every damn teacher from first grade on up made comments like..."that's ok baby, you don't have to pay attention, the world needs ditch diggers too"

These are the same people who while other 3rd graders are learning fractions, multiplication, long division etc....they are in the corner picking their nose.

Same thing but opposite side where you have all these adults who's parents told them they must go to college no matter what. Dumbass kids graduating with a general studies degree making 35k as a teacher with 75k in student loan debt then have the nerve to whine about teachers not making any money and how they deserve raises. No, sorry....but there are tons of kids that can go get that degree. Pay is relative to scarcity of personnel to perform the job or the amount of profit you make a company. The good ole simple supply and demand and sorry but there is an over abundance of general studies and lib art grads willing to take the 35k a year teacher job. And teachers don't produce any product or sales that makes money, below the university level at least.

Out of my group of friends of about 15 couples, I don't know a single one that doesn't own. My best friend just closed yesterday, but it's his second home to buy as he had to give the first up in a divorce. Yes I am the oldest millennial, but these idiots act like it's impossible to succeed. Out of my closest longtime friends, I am the only one with a bachelor's, atleast out of the guys. Most are operators. The one who makes by far the most out of all of us, has no degree and is just a hustler. Went from working at a Sprint store to VP of sales for a medium sized company in 8 or so years just by busting arse.


Like others have said, if housing prices are too high, move.

And lsunurse....you sure have turned into a whiny frick lately. You are whining about 150k not buying anything nice in Phoenix, well move to the burbs. Hour commute, oh well. Get a better job if you want something better. Go get your NP or nurse anesthetist, tell your husband to get a better job etc....but for God's sake quit being a whiny arse. Same goes for the other poster agreeing with you.

Posted by Ace Midnight
Between sanity and madness
Member since Dec 2006
89552 posts
Posted on 6/5/19 at 7:16 am to
quote:

I'm 25, while I do agree that it may be a little harder now than it was when, say my parents were my age


I bought my first house at age 30. All of my kids were homeowners before that.

quote:

my generation also sees "luxuries" as needs.


Right - internet and cell phone plans weren't "a thing" when I got out of school and now I spend hundreds of dollars on them.

quote:

there simply isn't anything like that in our market under $1 million.


Yeah, those folks need to move. America is practically empty, yet 40% of the population wants to live RIGHT ON TOP of each other, like they do in Hong Kong.
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