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Message

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

Posted on 12/21/23 at 9:20 am to
Posted by meansonny
ATL
Member since Sep 2012
26028 posts
Posted on 12/21/23 at 9:20 am to
quote:

quote:
There are families making $30k/yr who get by. Making $40k/yr who get by. Making $55k/yr who get by.

These families are literally in poverty dude


I know. And they get by.
But someone making near double can't get ahead?

Is someone making $35k/yr smarter than someone making $75k/yr?
Because they manage to get by at that $35k.
Yet people on here can't fathom someone making near double finding any way to get ahead in life.
"It's so hard".
Posted by GetCocky11
Calgary, AB
Member since Oct 2012
53509 posts
Posted on 12/21/23 at 9:21 am to
quote:

Because they manage to get by at that $35k.


So I'm guessing you're cool with all the government assistance they're on?
Posted by Warfox
B.R. Native (now in MA)
Member since Apr 2017
3734 posts
Posted on 12/21/23 at 9:22 am to
quote:

It was commonplace to raise 4+ kids in 1200 Sq ft houses not long ago. The basic white woman has nuked the housing market from orbit. There isn't enough room for them and all their shite in a 1200 sqft house anymore, much less kids. You could easily build a raised 1200sqft house for $100k. No self respecting Starbucks drinking white Yukon driving Pensacola going basic white chick would be caught dead living in such squalor in 2023.


Sure, but you have to admit that returning to those days is regressing; therefore, it is an acceptable gripe of the younger generation to have LESS than the priors.

Not to mention that that 1200 sq. foot home was, adjusted for inflation, MUCH cheaper than the 1200sq. foot home of today.

The current generation is getting hosed from both ends.
Posted by DownshiftAndFloorIt
Here
Member since Jan 2011
70856 posts
Posted on 12/21/23 at 9:23 am to
quote:

The current generation is getting hosed from both ends.


Yes
Posted by JohnnyKilroy
Cajun Navy Vice Admiral
Member since Oct 2012
40080 posts
Posted on 12/21/23 at 9:24 am to
quote:

I love it when people act like this is the first generation who had to struggle. Guess what, nobody gives a shite. The world owes you nothing and will give you nothing. Whining and bitching about it won’t fix a damn thing except make others look at you as a whiny bitch. Suck it up and get on with your life. No one is going to do it for you.


This post brought to you by someone who has bitched every day about Joe Biden, Barack Obama and Nancy Pelosi and all the GOPe RINOs for the past 20 years.
Posted by Dire Wolf
bawcomville
Member since Sep 2008
39788 posts
Posted on 12/21/23 at 9:25 am to
quote:


Perhaps it's because we have the hindsight of actually experiencing the exact same thing and know it's happened over and over throughout history. But we didn't bitch this much.


quote:

But we didn't bitch this much.


all yall do is bitch about how shite this country is

see the poli talk for the past two decades
Posted by Chucktown_Badger
The banks of the Ashley River
Member since May 2013
35731 posts
Posted on 12/21/23 at 9:25 am to
I grew up in one of those homes. Shared a bedroom with my older brother until I was 10, my mom still lives in it today. The price was cheap but I believe the interest rate was around 18%.

This thread is an interesting example of the YOLO generation, who eschews traditional hard work and savings for satisfaction and more "fun" now, also being the entitlement generation who thinks they deserve all the things now, despite their YOLO tendencies. Can't have both folks
Posted by Dawgfanman
Member since Jun 2015
25710 posts
Posted on 12/21/23 at 9:25 am to
quote:

Is someone making $35k/yr smarter than someone making $75k/yr? Because they manage to get by at that $35k.


A family making 35k gets enough govt subsidies that they really make closer to 50k. Probably get damn near 10k at tax time.
Posted by Chucktown_Badger
The banks of the Ashley River
Member since May 2013
35731 posts
Posted on 12/21/23 at 9:27 am to
quote:

all yall do is bitch about how shite this country is

see the poli talk for the past two decades


Lamenting people who are working to actively destroy this country isn't bitching about our lot in life, it's calling out people who hate this country.

Just a subtle reminder that these ridiculous interest rates we're all talking about are brought to you courtesy of massive government money printing and spending, and incentivized laziness. Vote accordingly.
This post was edited on 12/21/23 at 9:28 am
Posted by GetCocky11
Calgary, AB
Member since Oct 2012
53509 posts
Posted on 12/21/23 at 9:27 am to
Why do yall talk like miliennials are still 20 years old?
Posted by Darth_Vader
A galaxy far, far away
Member since Dec 2011
71790 posts
Posted on 12/21/23 at 9:27 am to
quote:

My 19 year old upgrades his phone every couple of years to the newest phone available


quote:

do too. It’s like 20 bucks a month at 0% interest.


How long is the 0% financing period? I ask because if you’re buying a $1,500 iPhone it would take you 75 months to pay it off. And that’s if it’s 0% interest for the entire six years and three months of the term.
Posted by DownshiftAndFloorIt
Here
Member since Jan 2011
70856 posts
Posted on 12/21/23 at 9:28 am to
I'm telling yall, the only problem here is that people's standards of living when it comes to houses are ridiculous.

A 2000 Sq ft house was considered a mansion as recently as the 90's in SE louisiana. Nobody builds houses even that small anymore and if they do, it's got all top-end finishing done. It's ridiculous.
Posted by Darth_Vader
A galaxy far, far away
Member since Dec 2011
71790 posts
Posted on 12/21/23 at 9:30 am to
quote:

This post brought to you by someone who has bitched every day about Joe Biden, Barack Obama and Nancy Pelosi and all the GOPe RINOs for the past 20 years.


This post brought to you by someone stupid enough to vote for Joe Biden and Barack Obama then whine about how they can’t afford shite and life is unfair.
Posted by GreatLakesTiger24
Member since May 2012
58784 posts
Posted on 12/21/23 at 9:30 am to
quote:

I love it when y'all immediately think that anyone that acknowledges the very real struggle and imbalances of the real estate market on the younger generation must be in that situation

it's bitching when you do it but not bitching when i do it
Posted by GetCocky11
Calgary, AB
Member since Oct 2012
53509 posts
Posted on 12/21/23 at 9:32 am to
quote:

I ask because if you’re buying a $1,500 iPhone


the average new iphone is nowhere near $1,500
Posted by Dawgfanman
Member since Jun 2015
25710 posts
Posted on 12/21/23 at 9:34 am to
quote:

I'm telling yall, the only problem here is that people's standards of living when it comes to houses are ridiculous.


My wife and I make 3 times the median income for our area and live in a house worth 1/2 the median home. It’s old, it needs upgrades (though we have replaced: roof/siding/deck/plumbing/ac and just remodeled the only main level Bathroom). It’s 1200 Sq ft 2 bed 1.5 bath (Jack and Jill bath) on main level with a fully finished basement that has another bed and bath.

People think we are poor. We are able to help our kids pay for college and I will retire in less than 4 years in my mid 50s.
Posted by GreatLakesTiger24
Member since May 2012
58784 posts
Posted on 12/21/23 at 9:35 am to
quote:

I ask because if you’re buying a $1,500 iPhone i
why would you do that? my iphone currently costs less than half of that. it might have been like 800 when i bought it a couple years ago.
This post was edited on 12/21/23 at 9:36 am
Posted by jclem11
Chief Nihilist
Member since Nov 2011
9520 posts
Posted on 12/21/23 at 9:36 am to
quote:

The price was cheap but I believe the interest rate was around 18%.


quote:

The price was cheap


The prices are not cheap any longer dude. Keep coping though.
Posted by GreatLakesTiger24
Member since May 2012
58784 posts
Posted on 12/21/23 at 9:38 am to
quote:

This post brought to you by someone stupid enough to vote for Joe Biden and Barack Obama then whine about how they can’t afford shite and life is unfair.

i'm pretty sure he drives a new 911 lol.

people can look at realties beyond their personal situation. it's really not that difficult of a concept.
Posted by Scuttle But
Member since Nov 2023
1301 posts
Posted on 12/21/23 at 9:38 am to
More young people need to embrace Tiny homes or vanlife lifestyles.
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