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re: Monthly mortgage payment based on a median existing home is now at a record $2,322
Posted on 8/25/23 at 2:14 pm to upgrayedd
Posted on 8/25/23 at 2:14 pm to upgrayedd
A redistribution of wealth is coming… those with the means can either decide to fight it or not… the longer it takes the messier it will be.
2
Posted on 8/25/23 at 2:17 pm to DeafJam73
quote:
For all the things I bitch about with my house, I consider myself so lucky. frick this market.
same. got in with my house in 2018. so dodged some pretty steep price hikes.
Posted on 8/25/23 at 2:19 pm to lowspark12
quote:
A redistribution of wealth is coming…
Big time.
Posted on 8/25/23 at 2:22 pm to lowspark12
quote:
A redistribution of wealth is coming
The only 'redistribution' of wealth that is coming is baby boomers dying off and leaving their homes, 401k's, etc to their children, nephews, etc.
Whole lot of Gen X'ers and Millennials will be buying homes in cash when that happens.
Posted on 8/25/23 at 2:23 pm to armytiger96
I do find it funny that you will deny data from the Fed because it goes against your own personal experience
Yes, the single experience of a high earner in a low cost of living area defines the trend for the entire country
Yes, the single experience of a high earner in a low cost of living area defines the trend for the entire country
Posted on 8/25/23 at 2:24 pm to ronricks
quote:most boomers don't have shite
The only 'redistribution' of wealth that is coming is baby boomers dying off and leaving their homes, 401k's, etc to their children, nephews, etc.
Posted on 8/25/23 at 2:27 pm to Thib-a-doe Tiger
Except the data completely contradicts that opinion piece. The younger generations have put off many of the activities that previous generations participated in at much earlier ages. Marriage, children, home buying etc etc are all happening later and later for millennials and gen Z.
Posted on 8/25/23 at 2:28 pm to Bayou_Tiger_225
quote:
I do find it funny that you will deny data from the Fed because it goes against your own personal experience
That’s called critical thinking apparently.
Posted on 8/25/23 at 2:31 pm to ronricks
quote:
The only 'redistribution' of wealth that is coming is baby boomers dying off and leaving their homes, 401k's, etc to their children, nephews, etc. Whole lot of Gen X'ers and Millennials will be buying homes in cash when that happens
That still mostly concentrates wealth within families and does nothing for those struggling.
Posted on 8/25/23 at 2:39 pm to GreatLakesTiger24
quote:
most boomers don't have shite
They hold half the nations 140 trillion in wealth. 78.3 Trillion in assets. You must know the wrong baby boomers. Those greedy fricks are flush with cash and assets.
Posted on 8/25/23 at 2:41 pm to JohnnyKilroy
quote:
Except the data completely contradicts that opinion piece. The younger generations have put off many of the activities that previous generations participated in at much earlier ages. Marriage, children, home buying etc etc are all happening later and later for millennials and gen Z.
Did you skip the part about the girl who got a reality check thinking she should be more advanced in her career when she was an HR manager at 29?
I will admit what you said is right. Marriage is trending downward in general, but younger people are waiting longer to marry if they do so. Same with children. Some of this is a function of career first pursuits, but there is a not-insignificant amount who do it for selfish reasons. A guy a work with doesn't want to marry or have children so he can do whatever he wants whenever he wants.
This post was edited on 8/25/23 at 2:44 pm
Posted on 8/25/23 at 2:45 pm to Thib-a-doe Tiger
Yes. I didn’t really put much weight on the individuals describing their personal anecdotes.
Posted on 8/25/23 at 2:46 pm to JohnnyKilroy
You think she is alone in that mindset?
Posted on 8/25/23 at 2:47 pm to GreatLakesTiger24
quote:
there’s a very good chance that neighborhood is ghetto now
No doubt. That's why it's called a "starter home" and not a "forever home"
Posted on 8/25/23 at 2:51 pm to Thib-a-doe Tiger
Alone? Probably not.
But the numbers show that for a number of reasons, younger people are delaying major purchases and life events versus the older generations at that age.
Not really disputable.
If they were truly the instant gratification whores you believe they would be buying houses, popping out kids and getting into insane levels of consumer debt like boomers and gen x did in the mid 80s to present.
But they aren’t.
But the numbers show that for a number of reasons, younger people are delaying major purchases and life events versus the older generations at that age.
Not really disputable.
If they were truly the instant gratification whores you believe they would be buying houses, popping out kids and getting into insane levels of consumer debt like boomers and gen x did in the mid 80s to present.
But they aren’t.
Posted on 8/25/23 at 2:52 pm to Thib-a-doe Tiger
quote:
I don't have a poor grasp of anything. Are home prices rising faster than ever before? Yes.
Have rising rates exacerbated that issue? Yes.
Are wages growing at the same rate? No.
Do people make life harder on themselves by choosing low(er) paying fields and then compound that with rampant consumerism? Yes.
Are people expecting gratification at a faster pace than ever before? Also yes
All of the above are correct.
But by admitting to all of this you essentially admit that if someone today had the same expectations as another person 20 years ago and made the same decisions in regards to education, they would still be behind and be in a worse position, right?
I'm fortunate, I chose a very solid field of study, I don't have student loans, and I bought my house before the increase in property values and interest rates. Did I create some of that fortune? Yes, but if I had made the same life decisions and was born 10 years later, I would be staring at a mortgage that is $1,200 more per month for the same house that I currently live in.
Posted on 8/26/23 at 10:32 am to ronricks
quote:
They hold half the nations 140 trillion in wealth. 78.3 Trillion in assets. You must know the wrong baby boomers. Those greedy fricks are flush with cash and assets.
i’m sure it’s pretty evenly distributed too.
defenily not like 1000 super rich guys owning 99% of that
Posted on 8/26/23 at 10:47 am to GreatLakesTiger24
quote:
most boomers don't have shite
Some do but to your point it’s not the majority.
Posted on 8/26/23 at 10:48 am to lsupride87
quote:
Can’t afford it, don’t buy it. That simple.
The democrats dream for future America
Government owned everything “leased” back to the people
Sounds like the USSR.
Posted on 9/3/23 at 2:37 pm to StringedInstruments
quote:About 125K remote from Memorial Hermann. $85/hour - full time as Epic consultant remote.
$235k? What the hell is she making now for mortgage rates to be the reason to turn that down?
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