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Message
re: The High Cost of a Home Is Turning American Millennials Into the New Serfs
Posted on 8/21/17 at 7:01 pm to Epic Cajun
Posted on 8/21/17 at 7:01 pm to Epic Cajun
The thing about living in a place like Montana, there are no "mid sized cities" because if you actually live in a city, and there is housing available, the prices are sky high regardless.
And you can forget about trying to buy land and build on.
There is limited availability no matter where you are. And that goes for more than Montana, but Wyoming, Idaho, Oregon, etc.
And you can forget about trying to buy land and build on.
There is limited availability no matter where you are. And that goes for more than Montana, but Wyoming, Idaho, Oregon, etc.
This post was edited on 8/21/17 at 7:01 pm
1
Posted on 8/21/17 at 7:02 pm to DownshiftAndFloorIt
quote:
bought a $175k house, put 10% down, have $20k in student loans. I have two vehicles but both are old and paid for and insurance on them is cheap, and frick I feel like I'm broke even though I'm pumping money into my 401k and company stock benefit shite. All my friends have all this super expensive shite and are steadily buying more of it while simultaneously taking about buying more shite.
It will pay off for you.
You're doing it right.
Posted on 8/21/17 at 7:03 pm to PNW
I think we're all Montana'd out. But thanks for your contributions. I like you.
Posted on 8/21/17 at 7:03 pm to RogerTheShrubber
quote:
Median home value in Kalispell is 180k. Is that what you mean?
Home value is different than what is actually listed for sale.
And link? Last I saw the median VALUE of a home in Kalispell was almost $200k. And median price is $305k...
And Kalispell is our largest, most available marketed city for housing. A whopping 22,000 people.
LINK
This post was edited on 8/21/17 at 7:06 pm
Posted on 8/21/17 at 7:05 pm to DownshiftAndFloorIt
quote:
or they're living check to check on $90k a year.
This is probably the case. I drive a vehicle that is 6 years old, and I make more that most of these baws out here who drive brand new trucks that are 50k+.
Tons of people are horrible with money.
Posted on 8/21/17 at 7:06 pm to deeprig9
quote:
Indians are taking over engineering from a desk job perspective more and more everyday. Yall engineers need to know this. Please understand this is true. Understand that you will be outsourced in the next five years. Unless you are an owner or government, your PE is going to be worthless soon.
Site visits are crucial in the MEP field. We actually have some jobs where some of the architectural work is "outsourced" to a company in NYC, but all of the engineering work is still local. Some outsourcing/H1B's are a concern of mine, but I think I'll be OK for quite a while.
quote:
Please understand that the executives at your company don't really understand what you do.
I'm at a small company. The "executives"/owners are two of the best MEP engineers in the state.
Posted on 8/21/17 at 7:06 pm to PNW
quote:
And link? Last I saw the median VALUE of a home in Kalispell was almost $200k. And median price is $305k...
That's the asking price for homes for sale now. And it's not that expensive.
180k. That's inexpensive
Posted on 8/21/17 at 7:06 pm to RogerTheShrubber
Yea I know. Still a mother fricker to watch all these other people my age who appear to be making twice as much money as me and sometimes I'll subconsciously look anywhere for some justification for what I'm doing, even internet message boards apparently 
Point was though, if you've got income and a half arse credit score the banks will loan you cheap money, at least here they will. That's what's driving the bigger houses and nicer cars. The middle class is struggling because they live what I consider outside their means more than ever.
I mean shite I'm guilty of it too. There's no way a 25 year old guy should be buying a $175k house on a <6 figure income, at least in my opinion. It was the dumbest thing I've ever done.
Point was though, if you've got income and a half arse credit score the banks will loan you cheap money, at least here they will. That's what's driving the bigger houses and nicer cars. The middle class is struggling because they live what I consider outside their means more than ever.
I mean shite I'm guilty of it too. There's no way a 25 year old guy should be buying a $175k house on a <6 figure income, at least in my opinion. It was the dumbest thing I've ever done.
Posted on 8/21/17 at 7:07 pm to RogerTheShrubber
quote:
That means you have a lot of sub 339k homes.
as long as you're willing to gamble to gentrify Antioch and Bordeaux, or buy a fixer upper, you are correct.
This post was edited on 8/21/17 at 7:11 pm
Posted on 8/21/17 at 7:08 pm to DownshiftAndFloorIt
quote:
Yea I know. Still a mother fricker to watch all these other people my age who appear to be making twice as much money as me and sometimes I'll subconsciously look anywhere for some justification for what I'm doing, even internet message boards apparently
Wait til the next economic downturn, they'll be cursing their debt
Posted on 8/21/17 at 7:08 pm to Epic Cajun
I am well off. I own a house in LA county and a house and farm acreage in Oklahoma. I didn't buy a brand new vehicle for the first time until I was 41. I would rather save money and retire before 50.
Posted on 8/21/17 at 7:08 pm to DownshiftAndFloorIt
quote:
There's no way a 25 year old guy should be buying a $175k house on a <6 figure income, at least in my opinion. It was the dumbest thing I've ever done
A good friend of mine bought a 240k house when he was 24, making less than 75k. He did have a couple roommates his first year in the house.
It's worked out well for him, though. He's now married and doing well for himself.
Posted on 8/21/17 at 7:09 pm to GreatLakesTiger24
quote:
I know that I was a bit of an outlier with the long wait to get a job, but I think that STEM = easy to get a great paying job is overblown.
quote:
'retweet
Hey, I was just telling my story to get some facts out there. I didn't intend for it to be appropriated by anti-engineerite shitlords.
Posted on 8/21/17 at 7:09 pm to GreatLakesTiger24
quote:
quote: The problems facing millennials include an economy where job growth has been largely in service and part-time employment, producing lower incomes; the Census bureau estimates they earn, even with a full-time job, $2,000 less in real dollars than the same age group made in 1980. More millennials, notes a recent White House report, face far longer period of unemployment and suffer low rates of labor participation. More than 20 percent of people 18 to 34 live in poverty, up from 14 percent in 1980. quote: Downward mobility, for now at least, is increasingly rife. Stanford economist Raj Chatty finds that someone born in 1940 had a 92 percent chance of earning more than their parents; a boomer born in 1950 had a 79 percent chance of earning more than their parents. Those born in 1980, in contrast, have just a 46 percent chance. quote: Overall, more than 80 percent of millennials already live in suburbs and exurbs, and they are, if anything, moving away from the dense, expensive cities. Since 2010 millennial population trends rank New York, Chicago, Washington, and Portland in the bottom half of major metropolitan areas while the young head out to less expensive, highly suburbanized areas such as Orlando, Austin, and San Antonio.
You know what? frick all this. The American dream is alive and well. I literally know of kids that graduated from the high school where I teach and with only a high school diploma and a learned trade are making well north of 100k a year at 20 years old. Yea, sometimes they have to travel and yes they put in some long days but the opportunty is still there if you have a work ethic and have a little financial smarts.
Posted on 8/21/17 at 7:11 pm to Epic Cajun
frick that. I almost fall on the floor every month when I get my statement in. I'm terrified of the debt I've got right now and it really pisses me off that I can't pay it off because circumstances keep fricking it up.
ETA: and by circumstances, I mean me being an idiot with money
ETA: and by circumstances, I mean me being an idiot with money
This post was edited on 8/21/17 at 7:12 pm
Posted on 8/21/17 at 7:14 pm to Epic Cajun
quote:
good friend of mine bought a 240k house when he was 24, making less than 75k. He did have a couple roommates his first year in the house.
I wouldn't buy another house here. I've got a condo now and it's too expensive. I just can't justify paying over 300k for a fixer upper. I'm cheap
Posted on 8/21/17 at 7:15 pm to RogerTheShrubber
Good lord I thought ak was cheap
Posted on 8/21/17 at 7:19 pm to FlagLake
quote:
You know what? frick all this. The American dream is alive and well. I literally know of kids that graduated from the high school where I teach and with only a high school diploma and a learned trade are making well north of 100k a year at 20 years old. Yea, sometimes they have to travel and yes they put in some long days but the opportunty is still there if you have a work ethic and have a little financial smarts.
Some long days? More like almost always working long days.
People on this board really are too rosy when discussing trades .
Posted on 8/21/17 at 7:19 pm to DownshiftAndFloorIt
quote:
Good lord I thought ak was cheap
Matsu and Fairbanks are cheaper but Juneau is terribly expensive. It's also home to more people worth at least a million than any other small city though. LINK
Posted on 8/21/17 at 7:21 pm to GetCocky11
Yea my friends who are doing that kind of thing are never off. They work like dogs.
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