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Started By
Message
re: The High Cost of a Home Is Turning American Millennials Into the New Serfs
Posted on 8/22/17 at 3:04 pm to Darth_Vader
Posted on 8/22/17 at 3:04 pm to Darth_Vader
quote:take your retarded self somewhere else
you think bitching will get you into that dream house somehow?
1
Posted on 8/22/17 at 3:06 pm to GreatLakesTiger24
quote:
you think bitching will get you into that dream house somehow?
take your retarded self somewhere else
I will. Just as soon as you tell me how a whining pity party will help anyone get into a home.
And also, since when did anyone making minimum wage expect to buy a fricking house?
Posted on 8/22/17 at 3:07 pm to Darth_Vader
quote:
Just as soon as you tell me how a whining pity party will help anyone get into a home.
Can you show me anyone that claimed such a thing?
Posted on 8/22/17 at 3:08 pm to Darth_Vader
quote:
And also, since when did anyone making minimum wage expect to buy a fricking house?
Dude it's not about that. It's showing the relative purchasing power of people today and people back then. You obviously are incapable of understanding that.
Posted on 8/22/17 at 3:11 pm to Mingo Was His NameO
quote:
Dude it's not about that. It's showing the relative purchasing power of people today and people back then. You obviously are incapable of understanding that.
Oh I understand it, Junior. I also understand you're too stupid to listen to anyone and think you know more than those who have a whole lot more life experence than you. That fine, all it means is you'll learn your life lessons the hard way.
Good luck, kid. You're gonna need it.
Posted on 8/22/17 at 3:13 pm to Darth_Vader
quote:
Oh I understand it,
quote:
Junior. I also understand you're too stupid to listen to anyone and think you know more than those who have a whole lot more life experence than you. That fine, all it means is you'll learn your life lessons the hard way.
Good luck, kid. You're gonna need it.
This old-man-yells-at-cloud rant seems like a frustrated backlash to having to admit understanding
Posted on 8/22/17 at 3:13 pm to Darth_Vader
quote:
I also understand you're too stupid to listen to anyone and think you know more than those who have a whole lot more life experence than you
Listening to people with more experience than you is really important, but ignoring statistical facts is idiotic.
Posted on 8/22/17 at 3:14 pm to Darth_Vader
quote:there is no whining pity party. Just a discussion of facts and statistics until you and roger told some personal stories no one cares about.
Just as soon as you tell me how a whining pity party will help anyone get into a home.
quote:no one is saying that.
And also, since when did anyone making minimum wage expect to buy a fricking house?
Posted on 8/22/17 at 3:15 pm to Darth_Vader
Darth, it's pretty obvious to anyone with a brain the economy was rough for young wage earners in 1975-1985 - we're not arguing otherwise.
However, it is an undeniable fact that wage growth for that group has grown slower than inflation during that time. Real interest rates are comparable, and median home prices have grown faster than inflation.
I'm sure there are localized areas where things were worse in 1980 than they are today, but for young wage earners across the US as a whole, things were slightly better then than they are now. Better is a relative term, because neither group had it made.
However, it is an undeniable fact that wage growth for that group has grown slower than inflation during that time. Real interest rates are comparable, and median home prices have grown faster than inflation.
I'm sure there are localized areas where things were worse in 1980 than they are today, but for young wage earners across the US as a whole, things were slightly better then than they are now. Better is a relative term, because neither group had it made.
This post was edited on 8/22/17 at 3:16 pm
Posted on 8/22/17 at 3:15 pm to slackster
quote:
In January of 1975, 30 year conventional mortgages were at 9.43%. You put down 80%, and your principal and interest payment was $248.72/month - 118.4 times the minimum wage of $2.10/hr.
In August 2017, the median home price is $263,800 and 30 year conventional mortgages are at 3.9%. That principal and interest payment is $995.41/month - 137.3 times the minimum wage of $7.25/hr.
Wait. You're putting down 80%?
Posted on 8/22/17 at 3:16 pm to Darth_Vader
quote:
Oh I understand it, Junior. I
quote:
Good luck, kid.
I really hope you don't talk to people like this in real life.
Posted on 8/22/17 at 3:18 pm to RogerTheShrubber
quote:
Wait. You're putting down 80%?
Typo. 20% is what I meant.
Posted on 8/22/17 at 3:19 pm to slackster
It would be irrelevant anyway as long as you put the same percentage down.
Posted on 8/22/17 at 3:28 pm to RogerTheShrubber
quote:
Wait. You're putting down 80%?
Oh, and while you're waiting to save up for that 20% down payment, you're paying roughly 25% more for rent today than you did in the 1980s, and 45% more for rent today than you did in the 1970s, after adjusting for inflation.
Census Rent Info
Posted on 8/22/17 at 3:29 pm to slackster
Jesus.
Posted on 8/22/17 at 3:31 pm to Darth_Vader
quote:
Like I said, there is a reason 20 somethings in the 70s and 80s didn't bitch about how hard it was to buy a house. And that's beacuse back then it wasn't even a realistic option.
That is simply not true about 20 somethings buying a house in the early 80's not being a realistic option
Posted on 8/22/17 at 3:35 pm to slackster
Slackster, you're doing serious work in this thread, but consider posting more personal anecdotes about being broke and working your way into an exclusive north Alabama subdivision in the future 
Posted on 8/22/17 at 3:41 pm to slackster
quote:
you're waiting to save up for that 20% down payment,
Not necessary anymore.
Posted on 8/22/17 at 4:31 pm to slackster
quote:
Oh, and while you're waiting to save up for that 20% down payment, you're paying roughly 25% more for rent today than you did in the 1980s, and 45% more for rent today than you did in the 1970s, after adjusting for inflation.
Census Rent Info
Ouch
That's depressing.
Posted on 8/22/17 at 4:33 pm to GreatLakesTiger24
Darth is just pissed that sabidojo has become the OT's chief biker
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