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re: Millenial homeowners "get real" about their success
Posted on 6/5/19 at 7:30 am to Hammertime
Posted on 6/5/19 at 7:30 am to Hammertime
quote:
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
If I wanted to live in the Hamptons I would be paying easily a $1MM+, not $300k.
Besides those numbers are not isolated to NYC. Go to any population of size across the country and you will run into the same problem.
I realize this may not be a problem in say back Vacherie, but even for the educated with good jobs its an issue.
2
Posted on 6/5/19 at 7:36 am to joshwj93
Millenials will refuse to give up luxuries to be able to afford a home. Social media has created a sense of keeping up with the joneses and people spend money outside of their class just so they can appear to be wealthier than they actually are.
This post was edited on 6/5/19 at 7:39 am
Posted on 6/5/19 at 7:37 am to NYNolaguy1
quote:
I realize this may not be a problem in say back Vacherie, but even for the educated with good jobs its an issue.
Well, just move out. Buy a smaller house, build equity in it over time. Sell and then buy closer in.
Are do you just want something free? 
Posted on 6/5/19 at 7:38 am to tigertown79
quote:
I don’t want the low level starter job that doesn’t pay well, I want the top level job with no experience.
Maybe you didnt, but I dont mind starting from the bottom.
The hilarious part of this discussion is the social stigma from boomers especially about kids that are working those jobs because theres nothing else theyre qualified for. Meanwhile they complain about kids not wanting to work from the bottom
.Posted on 6/5/19 at 7:39 am to fishfighter
quote:
Are do you just want something free?
?
English, por favor.
Posted on 6/5/19 at 7:40 am to OweO
quote:
My parents bought a 3 bedroom, 1 bathroom home in a nice neighborhood in 1975 for $8,000.00.
The median home price in 1975 was 40k. Your parents must have bought a trailer.
Posted on 6/5/19 at 7:40 am to MrJimBeam
quote:
Millenials will refuse to give up luxuries to be able to afford a home. Social media has created a sense of keeping up with the joneses and people spend money outside of their class just so they can appear to be wealthier than they actually are.
You think this is just a millennial issue that just started when social media was invented?
Posted on 6/5/19 at 7:42 am to NYNolaguy1
quote:Either get a job outside of town, or commute. These solutions are easy to figure out
Go to any population of size across the country and you will run into the same problem
Posted on 6/5/19 at 7:44 am to GetCocky11
quote:
You think this is just a millennial issue that just started when social media was invented?
No but it appears to have accelerated and gotten worse. Maybe it's just because we see it more, who knows.
Posted on 6/5/19 at 7:48 am to MrJimBeam
The fact of today is a combination of multiple things in my opinion. It would seem most people in lower middle and lowest class have the unrealistic expectation that they are entitled to a house(luxury) working a low wage job while not having any technical skills or capabilities. I wish they knew that having technical skills is how you advance in any job or career for that matter. This in turn coupled with social media will have a lasting effect on future generations. This country will turn into Idiocracy sooner than originally thought.
Posted on 6/5/19 at 7:49 am to Hammertime
quote:
Either get a job outside of town, or commute. These solutions are easy to figure out
Not when you want to have kids, which was my original point.
Posted on 6/5/19 at 7:50 am to Muthsera
Can’t wait til us millennials get rid of social security and you boomers beg us for help
Posted on 6/5/19 at 7:50 am to MrJimBeam
quote:
No but it appears to have accelerated and gotten worse. Maybe it's just because we see it more, who knows.
I can't speak for how things used to be because I'm not older.
But hell, the average person seems to think a house less than 2,000 sq ft is "small". Tons of people of all ages refuse to drive anything smaller than a SUV. Priorities these days are fricked.
Posted on 6/5/19 at 7:53 am to el Gaucho
quote:
Can’t wait til us millennials get rid of social security and you boomers beg us for help
Posted on 6/5/19 at 7:53 am to joshwj93
There are a lot of hard working, practical, and responsible ‘millineals’ like you out there. This is another social media issue where a whole group is judged by the 5% of them that use the internet to bitch. It’s not a representative sample.
Posted on 6/5/19 at 8:11 am to PortHudsonPlaya
Look I am not here to complain. I bust my arse at work and so does my wife. The area we live in isn't extravagant but the housing market is unreal. So we have to rent but it is what it is. You can sit here and say that this is all bull crap but the numbers say otherwise. The average value of a house in the 80s was around $50,000 with average household income being around 52k. Now the average home value hovers around 190,000 and household income at 61k.
Posted on 6/5/19 at 8:14 am to J_Hingle
Median home value today os actually closer to 230k in the US
Posted on 6/5/19 at 8:17 am to Muthsera
quote:Someone who’s never stepped foot outside their little bubble in San Francisco
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.
Posted on 6/5/19 at 8:21 am to J_Hingle
quote:bullshite. Median household income in 1985 was in the mid 30’s and median home price was in 90-100k range
The average value of a house in the 80s was around $50,000 with average household income being around 52k.
This post was edited on 6/5/19 at 8:22 am
Posted on 6/5/19 at 8:22 am to J_Hingle
quote:
. The average value of a house in the 80s was around $50,000 with average household income being around 52k.
What?
Median household income in the 80's was in the 20k range. Adjusted for inflation that's around 51k in todays dollars. Regardless of how you look at it, you're making more money today. Median house price in the mid 80's was around 80k
With interest rates as they were, your note on a house that cost 80k would have been around $1,000 in 1984.
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