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re: Millennials make more money than any other gen. did at their age, but are way less wealthy
Posted on 10/12/21 at 12:26 pm to The Third Leg
Posted on 10/12/21 at 12:26 pm to The Third Leg
quote:
You trade lateral and upward labor mobility for those kind of prices in smaller cities. Literally settling into a life with far fewer career options and much lower salary ceilings.
And maybe we need to not shite on that, and sell it as a quality way of living. The more we do, the more likely quality families are going to opt for it, creating communities of substance and character.
But I do question the idea that there are a bunch of viable (decent schools, economies, etc.) cities with sub-300k homes.
2
Posted on 10/12/21 at 12:26 pm to cas4t
quote:
What medium sized city are you referencing that has sub 300k homes available and an economy with job prospects?
My youngest daughter lives in Fort Worth, bought a house on a lake in a nice area for 300k. They were both settled in La, decided they wanted something different and charted a course. Proud of them.
My sister has one in Tulsa, brother in the Tri Cities of Washington...
I think my older bro has three, due to ex wives. He's a CPA with an MBA, but ain't rich.
Posted on 10/12/21 at 12:27 pm to RogerTheShrubber
quote:
My youngest daughter lives in Fort Worth, bought a house on a lake in a nice area for 300k.
When did she do this
Posted on 10/12/21 at 12:27 pm to USMCguy121
quote:
Like i said, its been a shite 20 years and its ONLY going to get worse for the foreseeable future.
It has been a phenomenal last 20 years for me, and I look forward to the next 20 years.
Posted on 10/12/21 at 12:27 pm to fallguy_1978
quote:
Yeah I'm not suggesting it would give people the option to move from Nashville to Bunkie. I just think it would ease some of the housing inflationary pressure in the top 15-20 metros if fewer of the jobs in those markets required you to live in the area. It's a lot cheaper for a family to live in Spartanburg, SC than Franklin, TN.
I couldn’t agree more and I hope companies continue to provide flexibility. We need more young adults in smaller cities and even rural America. The economies could sure use it.
A big issue in Nashville is the influx of Californians. Quite literally this select group of people are at least partially responsible for the inflated real estate market.
But that’s another story
Posted on 10/12/21 at 12:28 pm to GreatLakesTiger24
Well shite 
Posted on 10/12/21 at 12:29 pm to The Third Leg
quote:
You trade lateral and upward labor mobility for those kind of prices in smaller cities. Literally settling into a life with far fewer career options and much lower salary ceilings.
Potentially, though with current trends I see that changing. I don't see that as a bad thing if you find something you are comfortable with and have a nice lifestyle, with ample leisure time.
But this is what people have always done. There are tradeoffs.
Posted on 10/12/21 at 12:29 pm to Pettifogger
quote:
And maybe we need to not shite on that, and sell it as a quality way of living.
To each their own, but tough sell to me if I’m saddled with debt and believe in my ability to be an asset in my profession.
Posted on 10/12/21 at 12:29 pm to El Segundo Guy
quote:
If you were working and hd a decent income, 2007-2008 was the best thing that ever could have happened.
Not for me it wasn't. I bought at the top and needed to sell when prices were still low. I had to write a check at closing to sell my house.
Posted on 10/12/21 at 12:29 pm to RogerTheShrubber
quote:
Fort Worth, bought a house on a lake in a nice area for 300k.
Well this is absurd. Not that I don’t believe you. But good for her. Certainly can’t do that anywhere in middle Tennessee.
Posted on 10/12/21 at 12:31 pm to cas4t
quote:
It took more then a decent income to buy up property in 2008. I assume you had some cash saved.
Exactly.
Again, what millennial would have the opportunity to take advantage of that? The youngest millennials would only be 1-2 years into their careers at that point.
Again, more goal post adjustments.
Posted on 10/12/21 at 12:31 pm to Pettifogger
quote:
My youngest daughter lives in Fort Worth, bought a house on a lake in a nice area for 300k.
--------------------------------------------------------------------------------
When did she do this
She's lived there for three years, just bought the house this year. Shes also still got property in Louisiana she's renting.
She went through school debt free. Got scholarships and worked in the movie industry as an extra/bit actress. Had steady work and left college with no debt.
Posted on 10/12/21 at 12:32 pm to RogerTheShrubber
quote:
lives in Fort Worth
Talks about attainable midsized cities.
Brings up DFW.
This thread in a nutshell.
Posted on 10/12/21 at 12:33 pm to The Third Leg
quote:
To each their own, but tough sell to me if I’m saddled with debt and believe in my ability to be an asset in my profession.
I'm sure it is a tough sell. And obviously it's not an easy fix.
But I do think transitioning away from "make more, be elite in your field, consume more" to "do something productive that provides for your family and genuinely provides something of value to your community even if you don't love it" is the ideal, and it's certainly not a mindset our culture instills.
Posted on 10/12/21 at 12:34 pm to kingbob
quote:
My house is well well well beneath that medium price, I live in a small market, I have roommates, I never take vacations or eat zero avocado toast. I cook the vast majority of my meals, have an advanced degree (one of the good ones, not some lesbian dance therapy) with zero student loan debt, have never driven a car with less than 90k miles on it nor one that retailed new for more than $20k, have zero kids, no car note, no boat, no hunting camp, no f-350, no yeti coolers, no major health problems, etc and am still paycheck to paycheck working a professional job.
Something is not adding up here. You're either spending far more than your claim or you are vastly underemployed or both.
My daughter is a single mother who graduated college 2 years ago with a professional degree. She worked her way through college as a single mother and was able to graduate, get a pretty decent job, buy herself a new car (not anything fancy, but brand new and reliable), buy a house (a starter home/fixer upper she has been working on for the past year), have a retirement account, have a savings account, go on vacation on occasion, etc. She's done all of this while raising an 8 year old, yet you claim you have a professional degree, roommates (plural) and still live a subsistence lifestyle? I'm having trouble believing it.
Posted on 10/12/21 at 12:34 pm to GreatLakesTiger24
quote:
but are way less wealthy
Figures.
Posted on 10/12/21 at 12:34 pm to TheDrunkenTigah
quote:
Talks about attainable midsized cities.
Brings up DFW.
Fort Worth isn't a mid sized city, by American standards. Its in the middle of a megalopolis.
Posted on 10/12/21 at 12:35 pm to GreatLakesTiger24
quote:
The most recent Payscale Index found that wages have increased by 19% in the US since 2006. But when you factor in inflation, "real wages" have declined by 8.8%. That means workers have less purchasing power than they used to.
When inflation outpaces a perceived wage growth, perhaps it is not their salaries that are the problem.
Posted on 10/12/21 at 12:35 pm to RogerTheShrubber
Azle is not a nice area
Posted on 10/12/21 at 12:36 pm to TDTOM
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