re: The math for buying a home no longer works, per WSJ

quote:

---

would probably be more expensive to live without a smartphone these days than without one. They're pretty cheap these days. Even Dirt poor eastwards in rural Africa are carrying smart phones these day

---

I mean that’s good. I said earlier, my daughter and SIL live in downtown Houston, own a home. She’s an occupational therapist and he does HVAC. He cut out his CrossFit to help buy it. They don’t have cable or home internet but do have smart phones. They live in a nice area. I have no idea how much he makes or how much their home cost. They have one son, we help out as much as possible with grandson but we live in Shreveport

quote:

---

If 50 is a boomer then you are correct

---

It's the mentality. Like I said, you're only a few years older than me. We should have relatively similar viewpoints about many things. But your description of life in general makes me think that you're 20 years older than you are.

quote:

---

2023 is a completely different world in terms of technology though, and internet access via whatever is a necessity for anyone who’s employed, is looking for employment, or does more than go to the grocery once a week. Also, if you have kids but no internet today, you’re putting them at a major disadvantage to their peers.

---

Since Covid it’s impossible. Prior to Covid a lot of kids schools were going to online grade distribution and assignments. We had to pay $60/year for renweb so we could access my daughter’s grades and reports. Once Covid hit, and especially during, everything was online. They had to sit through webex, do online quizzes, and upload homework and school work. Half the retail establishments were online pickup only.

Going back a few years, but I think 03 was the last time you could phone in the schedule classes at LSU. (Anyone else remember sitting on hold on REGGIE?)

quote:

---

I know it’s difficult, but it’s been difficult in prior years also.

---

And that’s the point some of you people just don’t get, and why I think we’re heading towards a major shakeup in how we do business in general.

First everyone wanted workers to get degrees, so workers got degrees. Then they wanted degree and experience, so you got the degree and you got internships. Then they wanted advanced degrees, so more and more people are getting mbas, etc.

Then the recession hit in 09, and everyone stopped hiring and only wanted people with experience. The future didn’t matter, we just wanted to survive. So, in a lot of industries, young people suddenly found it really difficult to get a job, and one that paid well enough to cover the cost of that education.

Now fast forward a decade later, and all those companies who’ve not really hired in the last ten years are seeing their workforces age out. And there’s a huge experience gap. And they don’t understand why young people come thru the door and can’t replace people that have been there for 30 years on day 1. And there no mentors left as they’ve all noped out and retired. Then add in a lot of these people worked at a time when pensions/ retirement plans existed beyond 401k match, and they don’t understand why these young people want more money and job hop.

Yes times have been hard before, but we’ve never been in a situation where the generation entering the workforce is saddled with so much competitive disadvantage when you factor in all these things. Most are paying on student loans, have the extra monthly expenses like cell phones and internet, and are facing a market where their earning power doesn’t support ever gettin to where they can afford a place of their own. And no guaranteed retirement. So a starting salary today of $60k is not what it was 30 years ago. Salaries have not increased to account for all this extra stuff, so all it does is set them further back.

Why would a young person be looking at a 400,000 house in any normal market?

You need a 5 bedroom house? Or need to live on 2 acres?

Get a starter home and build equity. This acts like that’s not out there.

It is possible to live cheaply if you want to.

Cheap cell phones.
Free internet at the library and hot spots.

Shower and hot water at planet fitness.

If you don't have money for something, you aren't at a disadvantage if you can solve problems.

Are you a problem maker or problem solver?

When my wife and I bought our first home (2003), we didn't have satellite, cable, or internet.

We had internet at work.
We got ABC, CBS, PBS, etc.. on our TV (also had a vcr).
You get by.

quote:

---

Free internet at the library and hot spots.

Shower and hot water at planet fitness.

---

Just be homeless. That's cheap too!

I've had people tell me that they needed to get to McDonald's so they could look something up.

My wife works in a quasi-government agency that helps non-profits.
They assist quite a few people living in cars who can afford the amenities of a $10/month planet fitness membership.

quote:

---

But aren't those people being spendthrifts?

---

Trolling aside, everyone has a different definition of "the basics".

I kind of get disappointed in humanity at how quickly strangers on the internet throw their hands up and say ,"that's not possible. Not probable. Not practicle."

6 million years of human evolution and the internet is filled with a bunch of pussies who get more pleasure out of being trolls and complainers than actually achieving a dream or goal with no excuses.

quote:

---

He cut out his CrossFit to help buy it.

---

and I'm sure he is still telling you all about it