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re: New York Times: Gen Z can't afford the rent

Posted on 8/18/23 at 2:39 pm to
Posted by Vacherie Saint
Member since Aug 2015
47575 posts
Posted on 8/18/23 at 2:39 pm to
quote:

they are clueless on their spending habits.


Yep. But it shouldn’t be a surprise when they have no financial competency and are propped up by student loans, revolving credit, and parents who won’t cut the cord.
This post was edited on 8/18/23 at 2:40 pm
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
41091 posts
Posted on 8/18/23 at 2:47 pm to
quote:

I’m curious to where the Houston guy’s kid bought. Of the people I know that can afford to buy in the city, most are double income professionals or if single in big law/finance. I’d say that’s probably the norm for most big cities right now.


It’s probably deep in the burbs.

I look at houston real estate every few weeks and it fricking sucks. It’s all fricking townhomes and them bitches are still 800k+ unless you’re looking in the ghetto or FAR out in suburbia

This post was edited on 8/18/23 at 2:49 pm
Posted by GreatLakesTiger24
Member since May 2012
60676 posts
Posted on 8/18/23 at 2:52 pm to
I’m assuming by “in Houston” he meant “not in Houston”

Posted by THRILLHO
Old Metairie near Cleary
Member since Apr 2006
50399 posts
Posted on 8/18/23 at 2:54 pm to
quote:

My point is the article is sensationalized with the retards they used as examples, but the overall point is sound. If you need to be in the 90th percentile of mechanical engineers (151k) to afford a median house, that’s not great.


Not disagreeing with you or anything, just spouting off, but engineering salaries (especially in MEP) are TERRIBLE when it comes to cost of living adjustments. The salary differences between an engineer (with equal experience, in the same field, etc) in NYC and an engineer in Wyoming aren't THAT significant. Engineers need to consider cost of living more than other professions. I don't know why it be that way, but it do.
Posted by GreatLakesTiger24
Member since May 2012
60676 posts
Posted on 8/18/23 at 2:58 pm to
I guess that makes sense

I had something written about that general idea but deleted it. Everyone is quick to say “move somewhere” cheaper, that that will almost always be accurate when it comes to nyc, la, Bay Area, dc, Boston, and maybe a few others, but in general your salary will be in line with where you are.

It really doesn’t help that good jobs are increasingly condensed in those metros, Dallas, Houston, Atlanta, Nashville, and south Florida. If you’re an ambitious professional, you’re probably going to have to live in one of those areas… at least starting our
Posted by bad93ex
Walnut Cove
Member since Sep 2018
36125 posts
Posted on 8/18/23 at 3:00 pm to
quote:

It really doesn’t help that good jobs are increasingly condensed in those metros, Dallas, Houston, Atlanta, Nashville, and south Florida.


One of the reasons that there is a massive population shift to the South.
Posted by CaptainBrannigan
Good Ole Rocky Top Tennessee
Member since Jan 2010
21644 posts
Posted on 8/18/23 at 3:03 pm to
quote:

The trades are paying better than ever because we’ve told an entire generation that a women’s studies degree is more important than electricians


You really belive that don't you? Less than 25% of American have a college education. Yet it is some kind of anchor on the trades?
Posted by PsychTiger
Member since Jul 2004
109275 posts
Posted on 8/18/23 at 3:03 pm to
quote:

Even as social inclusion for young L.G.B.T.Q. people has grown, large health disparities between them and their non-L.G.B.T.Q. peers have not shrunk.


Mental health disparities
Posted by Mushroom1968
Shreveport
Member since Jun 2023
6303 posts
Posted on 8/18/23 at 3:05 pm to
quote:

I’m curious to where the Houston guy’s kid bought. Of the people I know that can afford to buy in the city, most are double income professionals or if single in big law/finance. I’d say that’s probably the norm for most big cities right now.


They are right in or near downtown. 2 person income, but their vehicles are paid off. They live in a small 2 bedroom and 1.5 bath. I’ll ask her how to best describe her area of Houston, I just remember big buildings and being terrified of driving
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
41091 posts
Posted on 8/18/23 at 3:05 pm to
And the cost of living in those places has skyrocketed.

I think it’s funny that the same people who bang the “move somewhere cheaper (ie not a city)” people are more often than not vehemently opposed to wfh and practically pee on themselves with joy whenever some ceo or company reduces/ends their wfh set up.
Posted by GreatLakesTiger24
Member since May 2012
60676 posts
Posted on 8/18/23 at 3:08 pm to
is your hvac son in law partner with his dad or something?
This post was edited on 8/18/23 at 3:09 pm
Posted by BugAC
St. George
Member since Oct 2007
57863 posts
Posted on 8/18/23 at 3:10 pm to
Posted by Mushroom1968
Shreveport
Member since Jun 2023
6303 posts
Posted on 8/18/23 at 3:11 pm to
He works for his older brother, about a 10 year age difference. Maybe he gets paid more than I thought, I’m not sure
Posted by BugAC
St. George
Member since Oct 2007
57863 posts
Posted on 8/18/23 at 3:13 pm to
quote:

Let’s say the average engineer makes 100k. He can’t afford the average existing house at about 420k. That’s probably a problem



1) My first home was $290k.
2) Maybe don't buy a home when your starting out and wait until your married (Dual income)?
Posted by SloaneRanger
Upper Hurstville
Member since Jan 2014
13785 posts
Posted on 8/18/23 at 3:14 pm to
That first guy is living on Peaks Island, Maine. Not exactly poverty central. I’ll bet he spends all his money on weed and edibles. And that he is too stoned all the time to get a good job.
This post was edited on 8/18/23 at 3:26 pm
Posted by lsu777
Lake Charles
Member since Jan 2004
38053 posts
Posted on 8/18/23 at 3:16 pm to
quote:

I guess that makes sense

I had something written about that general idea but deleted it. Everyone is quick to say “move somewhere” cheaper, that that will almost always be accurate when it comes to nyc, la, Bay Area, dc, Boston, and maybe a few others, but in general your salary will be in line with where you are.

It really doesn’t help that good jobs are increasingly condensed in those metros, Dallas, Houston, Atlanta, Nashville, and south Florida. If you’re an ambitious professional, you’re probably going to have to live in one of those areas… at least starting our



yea crazy thing about engineering is the salaries in the industrial arena along the gulf coast are as good or better than those in the really high COL places like NYC and Cali. its actually not unheard of for them to be more unless you are at an industrial plant their too. its kind of crazy like that.

Civil is kind of the exception but even then industrial salaries are going to be similar to the higher cities.

example a civil in NYC avg salary is $101k...avg salary for a civil in LC with say 5 years experience would be more.

even on indeed civil in LA is listed as making 6% more than NYC

avg in la is listed as 98, SF..106, SD..98......point is...make more than that in the plants with 5 years experience.

as mentioned..for some reason engineering isnt as valued in high Cost of living places and salaries are not adjusted accordingly.
Posted by BugAC
St. George
Member since Oct 2007
57863 posts
Posted on 8/18/23 at 3:16 pm to
quote:

That first guy is living on Peak’s Island, Maine. Not exactly poverty central. I’ll bet he spends all his money on weed and edibles. And that he is too stoned all the time to get a good job.




I'm astonished that the aspiring rapper can't make ends meet...
Posted by Lsupimp
Ersatz Amerika-97.6% phony & fake
Member since Nov 2003
86171 posts
Posted on 8/18/23 at 3:18 pm to
IMHO, America has basically priced itself out of near- universal middle class prosperity. Sure, women who have spent thousands on tats and eating out aren't the most sympathetic, but the basic point that it's expensive AF to live in this country remains.
Posted by Jcorye1
Tom Brady = GoAT
Member since Dec 2007
76373 posts
Posted on 8/18/23 at 3:21 pm to
Housing is fricked, but these people sound like losers.
Posted by GreatLakesTiger24
Member since May 2012
60676 posts
Posted on 8/18/23 at 3:32 pm to
quote:

1) My first home was $290k.
oh wow that’s interesting and relevant

quote:

Maybe don't buy a home when your starting out and wait until your married (Dual income)?
just lol. Everything is fine when a median engineer can’t afford a median house (and isn’t even close tbh)
This post was edited on 8/18/23 at 3:34 pm
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