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Started By
Message
re: Millennials being squeezed out of middle class, says OECD
Posted on 4/11/19 at 4:51 pm to thesoccerfanjax
Posted on 4/11/19 at 4:51 pm to thesoccerfanjax
quote:
What compounded the 2008 crash was the fact that many people moved to BFE suburbs in order to live the American dream of owning more house than they could afford and making absurd commutes, often in old beater cars or new ones they also couldn’t afford
I think lending to anyone with a functional heart and set of lungs was a bigger part, but what do I know?
1
Posted on 4/11/19 at 4:53 pm to TH03
Well no shite. But houses were going up in areas that had literally no jobs or industry in the middle of nowhere. But hey, they were new and affordable so people bought them. Now you have ghost subdivisions all over SW FL.
Posted on 4/11/19 at 4:56 pm to thesoccerfanjax
Those people shouldn't have been able to buy any house period. The location of their house doesn't change anything.
It didn't blow up because people bought too much house in the middle of nowhere. It was because those people were able to buy any house period.
It didn't blow up because people bought too much house in the middle of nowhere. It was because those people were able to buy any house period.
Posted on 4/11/19 at 5:02 pm to TH03
I’m not explaining myself well. You’re right they couldn’t afford or could barely afford the mortgage and didn’t stop to think, “hey if my car breaks down I’m gonna have to pick between fixing my transportation to work so I can pay my mortgage or I can not pay my mortgage this month so I can fix my car in hopes of catching back up”.
It was a real thing and very well documented here in FL where land grab schemes are practically tradition. It was the cherry on top of an already existing problem and part of what started mass defaults. In no way am I saying it wasn’t the borrowers fault.
It was a real thing and very well documented here in FL where land grab schemes are practically tradition. It was the cherry on top of an already existing problem and part of what started mass defaults. In no way am I saying it wasn’t the borrowers fault.
This post was edited on 4/11/19 at 5:06 pm
Posted on 4/11/19 at 5:09 pm to thesoccerfanjax
That makes more sense. What a mess that was.
Posted on 4/11/19 at 5:15 pm to thesoccerfanjax
quote:
Well no shite. But houses were going up in areas that had literally no jobs or industry in the middle of nowhere. But hey, they were new and affordable so people bought them. Now you have ghost subdivisions all over SW FL
Like an hour away or what? There are plenty of people that make a commute that far or further
Posted on 4/11/19 at 5:17 pm to Areddishfish
quote:
What overpriced area in the country do you live where you can't?
Newsflash....unless you want to live in some small town with no professional jobs nearby in a Southern state......170k isn’t buying a decent home.
Most decent, thriving places in the U.S. would not be able to buy a decent home for 170k.
Posted on 4/11/19 at 5:29 pm to fallguy_1978
Yes like an hour away.
That’s unreasonable to me but I’ve always managed to work no more than a mile or two from my house.
That’s unreasonable to me but I’ve always managed to work no more than a mile or two from my house.
Posted on 4/11/19 at 6:43 pm to CoeJ
quote:
You mean to be able to owe a bank $170k plus interest for the next 30 years?
That's being poor.
Posted on 4/11/19 at 7:50 pm to el Gaucho
Posted on 4/11/19 at 7:52 pm to SEClint
Someone said that millennials are ages 25-40. Is that accurate? Seems like a wide range.
Posted on 4/11/19 at 7:54 pm to Paul Allen
I think they are 1981-1996 so I guess the oldest are 38.
Posted on 4/11/19 at 8:14 pm to fallguy_1978
Generations are always funny. I'm 1988 and have few things in common with someone in 1996, much less 1981 to 1996. 
Posted on 4/11/19 at 8:21 pm to thesoccerfanjax
quote:No it's not. I make a little above that before OT and bonuses, and I get like $1k/wk after taxes and all that jazz. Subtract $1500 for bills, and it isn't that good really
$70k young single guy in the South is ballin and very easily upper middle class
Posted on 4/11/19 at 8:24 pm to Hammertime
quote:
No it's not. I make a little above that before OT and bonuses, and I get like $1k/wk after taxes and all that jazz. Subtract $1500 for bills, and it isn't that good really
You clear $2500/month to play and have fun and you don't call that ballin?
Posted on 4/11/19 at 8:24 pm to Hammertime
quote:
No it's not. I make a little above that before OT and bonuses, and I get like $1k/wk after taxes and all that jazz. Subtract $1500 for bills, and it isn't that good really
Your monthly bills are only $1500?
Posted on 4/11/19 at 8:25 pm to Hammertime
Like I said, look at the stats. It’s pretty damn good. If it feels tight it’s because you are over extending yourself.
Also your math seems off but I don’t know what you do or where you live.
Also your math seems off but I don’t know what you do or where you live.
This post was edited on 4/11/19 at 8:27 pm
Posted on 4/11/19 at 8:30 pm to meansonny
quote:
You clear $2500/month to play and have fun and you don't call that ballin?
He can burn a $100 bill every single day, just whip it out, catch it on fire, and watch it burn. Every day. Wake up, take a piss, brush teeth, burn $100 bill.
And still pay his bills.
And he says he isn't middle class, he still has struggles.
These fricking millenials.
Posted on 4/11/19 at 8:31 pm to meansonny
Not at all. I'd like a nice boat, some property and a camp, a fast car, etc
quote:Cheap house note. Paid off truck
Your monthly bills are only $1500?
quote:I said it wasn't balling, which it definitely is not. Maybe we have different ideas of balling
And he says he isn't middle class, he still has struggles
This post was edited on 4/11/19 at 8:35 pm
Posted on 4/11/19 at 8:33 pm to fallguy_1978
quote:
Your monthly bills are only $1500?
Yeah Jesus, how can I sign up for this?
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