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re: Millennials will spend 45% of income on rent before age 30
Posted on 3/27/18 at 10:27 pm to TDcline
Posted on 3/27/18 at 10:27 pm to TDcline
quote:
In before millennials that don’t actually realize they’re millennials start shitting on themselves
Au contraire
I’m a millennial who realizes he’s a millennial that pays a higher rent to live in a downtown apartment. Worth it
On the plus side, I make a good amount of money and make up for it in other areas.
Also millennials are shite
This post was edited on 3/27/18 at 10:28 pm
1
Posted on 3/27/18 at 10:29 pm to Ryan3232
quote:
yes. Every person who is <29 years of age in america still lives with their parents. Every single one of them...
Add another millennial with no sense of humor to the list
Posted on 3/27/18 at 10:29 pm to fallguy_1978
quote:
That's varies by person/area. I commuted about an hour one way to work for around 7 years. It was still cheaper than living closer to work. Maybe $150 more in gas per month but my house was $600 cheaper per month, property taxes were less etc
Well that's just simply not true for people in cities where, you know, most people live. In any real metro this state isn't shocking at all and to commute you'd come out not that far ahead. You may save $300/month on rent, but you'll spend $200 more on gas and/or tolls. Add that to an hour or more commute and it's easier to just rent.
I honestly just don't really see the point in buying before having a family. In 3-5 years you build what 5-10% equity in that? Just doesn't seem worth that return for me as someone that doesn't have anything holding me back from moving for a better job or whatever.
Posted on 3/27/18 at 10:31 pm to OMLandshark
quote:
Was this thread supposed to be shocking? Almost everyone I graduated with is somewhere within the margin of error in this statistic. I mean, I am.
What are you defining as MoE? I don't think I paid anywhere near 45% of my income, even after taxes, to rent before I turned 30, and I've spent virtually all my post-college life expensive cities. Maybe when I include utilities, cable/internet, and so forth, I might start hitting around 35 - 40%, but 45%? Hell no.
Posted on 3/27/18 at 10:34 pm to GreatLakesTiger24
lulz... Damn, this group, as a whole, makes some really poor decisions.
Posted on 3/27/18 at 10:34 pm to GreatLakesTiger24
I’m exactly in line with this. Of my take home, rent is probably between 35-40%. That’s certainly gone up as I got married, but was always around 30-35%. Have also moved to 3 cities since graduating 5 years ago, so owning was never really an option.
This post was edited on 3/27/18 at 10:40 pm
Posted on 3/27/18 at 10:39 pm to RummelTiger
quote:
lulz... Damn, this group, as a whole, makes some really poor decisions.
This is so ironic considering all the stupid shite the prior generation has done. One of them being buying way more house than they can afford and defaulting on the loans at a ridiculous rate.
Posted on 3/27/18 at 10:41 pm to Mingo Was His NameO
You’re putting that squarely on X’ers? Hmmmm...
Posted on 3/27/18 at 10:43 pm to Weagle25
is this where married 50 year olds tell 24 year old single people to live in suburbs and commute? classic OT
Posted on 3/27/18 at 10:43 pm to RummelTiger
quote:
You’re putting that squarely on X’ers? Hmmmm
Just as your doing with millennials? Hmmmm....
Posted on 3/27/18 at 10:45 pm to Mingo Was His NameO
LOL... The story is ABOUT MILLENNIALS!
Posted on 3/27/18 at 10:48 pm to RummelTiger
quote:
LOL... The story is ABOUT MILLENNIALS!
And you called them all stupid as a group. Objective data tells us X'ers gave been exponentially worse with their money than millennials. Wasting money of "trendy" food is better than getting your house forclosed on. Millennials are saving more for retirement and living more within their means than X'ers ever have, but carry on with your stupid take.
Posted on 3/27/18 at 10:49 pm to fallguy_1978
quote:
They spend 45% of their income on rent because they live in expensive areas by choice when they don't have to. Nobody is forcing this on them. Move somewhere more affordable and commute.
I spent a little more on rent and saved a car note, gas, parking, insurance, etc.... for several years while paying off loans and saving for a mortgage. Could even walk home from work for lunch.
Posted on 3/27/18 at 10:50 pm to Mingo Was His NameO
Awww... Don’t take it personally. Maybe you can be the light your group needs. Tell us all how you’re changing the narrative.
Posted on 3/27/18 at 10:51 pm to NIH
quote:
is this where married 50 year olds tell 24 year old single people to live in suburbs and commute? classic OT
If you are complaining about the cost of renting in an expensive area that you live in by choice than yes, I'll laugh at you. I get being young and single and not wanting to live in the suburbs but it's not like you are forced into it.
Posted on 3/27/18 at 10:51 pm to Mingo Was His NameO
there are a few thing sthe average boomer, xer, and millennial have in common... they're fat, poor, and terrible decision makers.
Posted on 3/27/18 at 10:52 pm to RummelTiger
quote:
Tell us all how you’re changing the narrative.
I don't need to post anecdotal eveidence like you tards. The empirical data tells the story.
Posted on 3/27/18 at 10:52 pm to RummelTiger
I'm a millennial baller. None of these articles apply to me.
Posted on 3/27/18 at 10:54 pm to Mingo Was His NameO
You seem smart, yet resort to name calling, which is a sign of a slow wit... Oh, well. Enjoy renting, Mingo! 
Posted on 3/27/18 at 10:54 pm to NoSaint
quote:
I spent a little more on rent and saved a car note, gas, parking, insurance, etc.... for several years while paying off loans and saving for a mortgage. Could even walk home from work for lunch.
It depends on the area. I live 4-5 miles from work and pay a premium to do so over living in the burbs but I understand why people do it. Complaining about the cost is another matter altogether.
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