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re: Quiet Quitting? Well that a new term.
Posted on 8/20/22 at 3:16 pm to RogerTheShrubber
Posted on 8/20/22 at 3:16 pm to RogerTheShrubber
quote:
So, making an average of 12k per year, and having house notes in the 1000-2000 range doesn't seem out of whack to you?
What seems out of whack is your range of 1k-2k. That's quite a margin of error for 40 years ago. Almost as if you're just making shite up and have no idea what you're talking about.
This post was edited on 8/20/22 at 3:17 pm
0
Posted on 8/20/22 at 3:16 pm to RogerTheShrubber
quote:
So, making an average of 12k per year, and having house notes in the 1000-2000 range doesn't seem out of whack to you?
Rent seemed reasonable.
quote:
Average rent prices have increased at a rate of 8.86% per year since 1980, consistently outpacing wage inflation by a significant margin
Posted on 8/20/22 at 3:17 pm to RogerTheShrubber
quote:
So, making an average of 12k per year, and having house notes in the 1000-2000 range doesn't seem out of whack to you?
In 1982 the avg home cost 69k, the avg down payment was 20%, the average house payment was dollars 726 (P&I). The average family income was 23,400.
This post was edited on 8/20/22 at 3:26 pm
Posted on 8/20/22 at 3:18 pm to Dawgfanman
quote:
In 1982 the avg home cost 69k, the avg down payment was 20%, the average house payment was 834 dollars (P&I). The average family income was 23,400.
That is fricking amazing.
~$14k down
$834 per month (less than half of monthly income)
Talk about a breeze right there.
Such a tough situation to be in.
Hell, can we include car prices now too? Both used and new?
This post was edited on 8/20/22 at 3:21 pm
Posted on 8/20/22 at 3:21 pm to Scruffy
quote:
Relative to modern society, frick no
Strangely people in modern society were still buying at super inflated prices. I guess they were still affordable.
Until interest rates started to rise again..
Posted on 8/20/22 at 3:22 pm to RogerTheShrubber
quote:It isn’t the millennials and younger generations buying those homes, which is the point.
Strangely people in modern society were still buying at super inflated prices. I guess they were still affordable.
Breaking the homeownership rate down by age offers a more nuanced view of the situation in the U.S. The homeownership rate for most Millennials, generally defined as people born between 1981 and 1996, is less than half of the rate for people age 65 and older.
This post was edited on 8/20/22 at 3:24 pm
Posted on 8/20/22 at 3:27 pm to Scruffy
quote:
(less than half of monthly income)
Over 40% of gross is still pretty brutal. Not that it's easier to avoid these days, but I wouldn't call that a good situation.
Posted on 8/20/22 at 3:27 pm to Scruffy
That also doesn't factor in investors offering over asking in order to try and corner the rent market.
If one thing's clear in this thread, it's that Roger is absolutely clueless about life in the 21st century.
Which circles back to the original point of, "gee, I just don't get why these young kids don't care."
If one thing's clear in this thread, it's that Roger is absolutely clueless about life in the 21st century.
Which circles back to the original point of, "gee, I just don't get why these young kids don't care."
This post was edited on 8/20/22 at 3:29 pm
Posted on 8/20/22 at 3:27 pm to RogerTheShrubber
quote:
So, making an average of 12k per year, and having house notes in the 1000-2000 range doesn't seem out of whack to you?
Why is the average person in your scenario buying a house that's over twice as much as the average house cost during that time?
This post was edited on 8/20/22 at 3:28 pm
Posted on 8/20/22 at 3:28 pm to Scruffy
Which is changing, which one would expect as Millennials age.
LINK
tldr: the last three generations experienced declining home ownership, Millennials will reverse the trend.
quote:
Homeownership in general has been on the decline for at least the last three generations. After adjusting for age, millennials, gen Xers, and baby boomers have all purchased homes at a slower rate than the generation that preceded them.
Millennials are often thought of as a generation of renters, but their homeownership rate is catching up to generation X. In the coming years, they may become the first generation since World War II to reverse the trend in declining homeownership.
LINK
quote:
For a long time, millennial homeownership lagged behind that of their elders. In some markets, the gap was extremely wide and highly concerning. However, a recent spate of buying has started to close the gap between millennials and other generations in terms of homeownership.
tldr: the last three generations experienced declining home ownership, Millennials will reverse the trend.
Posted on 8/20/22 at 3:28 pm to Scruffy
quote:
Breaking the homeownership rate down by age offers a more nuanced view of the situation in the U.S. The homeownership rate for most Millennials, generally defined as people born between 1981 and 1996, is less than half of the rate for people age 65 and older.
And shrubbery loses again.
Posted on 8/20/22 at 3:29 pm to Scruffy
quote:
That is fricking amazing. ~$14k down $834 per month (less than half of monthly income) Talk about a breeze right there. Such a tough situation to be in. Hell, can we include car prices now too? Both used and new?
I corrected my math on the house payment. I wouldn’t call it amazing (16% interest rate) but it is still more affordable than today. Of course no one is looking for a 1300 sq ft house with no central AC. All generations have their struggles. I’m not sure how this debate became to be about boomers vs millennials? Boomers and Gen X people also “quietly quit”
Posted on 8/20/22 at 3:30 pm to Scruffy
quote:let's factor in the rapid free fall of public education (makes fewer areas livable), increase in auto prices, increase in college cost, and healthcare as well. oh and internet and cell phones.
Breaking the homeownership rate down by age offers a more nuanced view of the situation in the U.S. The homeownership rate for most Millennials, generally defined as people born between 1981 and 1996, is less than half of the rate for people age 65 and older.
i didn't even come to this thread to do the "millennials have it harder thing" but the blatant ignorance of the situation is annoying
Posted on 8/20/22 at 3:31 pm to RogerTheShrubber
Oh how generous, they get to reach what you had in your 20s in their 40s.
And you think that is a good thing.
And you think that is a good thing.
Posted on 8/20/22 at 3:31 pm to Dawgfanman
quote:Because boomers are unable to accept the fact that they were “born on 3rd base”, as some other people stated, and they believe the same actions they survived with back then are still applicable to modern society, like paying for full time tuition with a full time job, or homeownership.
I’m not sure how this debate became to be about boomers vs millennials?
Posted on 8/20/22 at 3:32 pm to MrSpock
quote:
You should have just worked harder.
We did. I think that’s the point.
Posted on 8/20/22 at 3:32 pm to JohnnyKilroy
quote:
Why is the average person in your scenario buying a house that's over twice as much as the average house cost during that time?
they didn't, which is why home sales fell during that period.
Gen X was the first to experience lower rates of home ownership as a result of the 80s market.
This post was edited on 8/20/22 at 3:33 pm
Posted on 8/20/22 at 3:33 pm to Dawgfanman
quote:
I’m not sure how this debate became to be about boomers vs millennials?
A handful of boomers went hard at the beginning of the thread about how it's the youths of today who don't work.
You could probably find a "no one wants to work these days" quote in print media from some business exec for every single year since the inception of this country.
I'm sure millienials will be saying it too in about 20 or 30 years.
Posted on 8/20/22 at 3:33 pm to JudgeHolden
quote:
We did. I think that’s the point.
A can do, vs can't do attitude.
Posted on 8/20/22 at 3:35 pm to JudgeHolden
quote:
We did. I think that’s the point.
If gutting the economy by printing money, outsourcing everything possible in order to lower wages and raising the bar to entry behind you is working harder; then yes, you sure did.
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