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re: Do young people have it harder today? Did Boomers ruin everything?
Posted on 12/4/25 at 4:31 pm to MC5601
Posted on 12/4/25 at 4:31 pm to MC5601
quote:Really? Below is Year, Median Home, Interest Rate that year, Median Family Income, Payment nothing down and Percentage of Family Income
The middle class (those earning $70k) can no longer afford the middle class lifestyle
1981 68900 16.64 22390 962.18 51.57%
2024 400000 6.8 105800 2607.70 29.58%
1
Posted on 12/4/25 at 4:33 pm to el Gaucho
Only thing I fault boomers for is giving their kids too much. Then My generation gave their kids even more. Each generation is more whiny and weaker.
Posted on 12/4/25 at 4:37 pm to MC5601
quote:If you can't afford to buy a home doing your "professional" job where you are MOVE. You're job is not very valuable if it can't provide a home for your family. Find an "unprofessional" job in rural area where you can buy a home.
In any major city, that 1200 square foot house in the ghetto still costs $350k and would be a stretch for most to afford without equity from previous ownership. A decent 2200 square foot house in a good area is $500k+ in most cities.
Posted on 12/4/25 at 4:38 pm to RollTide4547
quote:
Really? Below is Year, Median Home, Interest Rate that year, Median Family Income, Payment nothing down and Percentage of Family Income
1981 68900 16.64 22390 962.18 51.57%
2024 400000 6.8 105800 2607.70 29.58%
Yeah, exactly. You couldn't even qualify for a $435k mortgate (the average sale price in 2025) with $84k median household income
Throw in $5k per year in home insurance, $10k per year in taxes, $7k per year electric, heat and water on top of this as well. One would need to make about $200k household income to afford this home with $0 down and not be house poor
Posted on 12/4/25 at 4:40 pm to RollTide4547
quote:
If you can't afford to buy a home doing your "professional" job where you are MOVE. You're job is not very valuable if it can't provide a home for your family. Find an "unprofessional" job in rural area where you can buy a home.
What are these "unprofessional jobs" in rural areas? Most of those don't exist anymore. All the little mills and factories in the sticks shut down after NAFTA. The farms are a couple rich landowners employing dozens of illegals for slave wages. Outside of that you can maybe get minimum wage at dollar general or a feed store. At least in the city, that unaffordable professional job has a ladder that might lead to something better. People live in the cities because that's where the jobs are.
This post was edited on 12/4/25 at 4:41 pm
Posted on 12/4/25 at 4:44 pm to kingbob
quote:Can you swing a hammer? If so, you can find a job tomorrow. What about run a manual backhoe (aka shovel) and dig a ditch? I my rural area, I'd bet I could find a job before Christmas that will pay $25+ an hour. There is a small starter home down the road for sale. Built in the 50's. Bet it could be bought for 140K. You'd have to do some work and it's far from a mansion, but it would keep you warm, dry and cool.
What are these "unprofessional jobs" in rural areas? Most of those don't exist anymore.
Posted on 12/4/25 at 4:48 pm to MC5601
quote:84K is not the median family income, 100K is. When I bought my home, my payments could be 40% of our gross pay. If you don't have a bunch of other loans, 100K will qualify you for a 4K payment.
You couldn't even qualify for a $435k mortgate (the average sale price in 2025) with $84k median household income
quote:Sounds like you can never make it. Go out back and put yourself out of your misery.
One would need to make about $200k household income to afford this home with $0 down and not be house poor
Posted on 12/4/25 at 4:48 pm to RollTide4547
quote:
Can you swing a hammer? If so, you can find a job tomorrow. What about run a manual backhoe (aka shovel) and dig a ditch? I my rural area, I'd bet I could find a job before Christmas that will pay $25+ an hour.
If you find me that job before Christmas, I'll go up there and work it.
Posted on 12/4/25 at 4:49 pm to RollTide4547
quote:
If you can't afford to buy a home doing your "professional" job where you are MOVE. You're job is not very valuable if it can't provide a home for your family. Find an "unprofessional" job in rural area where you can buy a home.
Our family ranch is in a rural town (Coleman, TX) where industry left about 30 years ago. The average wage for unskilled labor is about $10 per hour and skilled gets about $20 per hour. They just built a new subdivision of 1600 square foot houses and are asking $300k for them. Can find older houses for less but they require a ton of work and still wouldn't be able to afford that on $40k per year
LINK
Posted on 12/4/25 at 4:51 pm to MC5601
I bought a fixer upper in the city 5 years ago. Sank everything I had into it. The roof still f&%king leaks, and I can barely afford the note with roommates. However, still cheaper than what most of my peers are paying for apartments so...hurray me.
Posted on 12/4/25 at 4:52 pm to Penrod
Cop out. Everyone’s had it hard one way or another. Stop being soft bytches
Posted on 12/4/25 at 4:54 pm to MC5601
quote:Anything worth having is worth working for. 2 people working would be 80K and you can afford it. Will it be hard YES. But then life is HARD.
Can find older houses for less but they require a ton of work and still wouldn't be able to afford that on $40k per year
LINK
Posted on 12/4/25 at 4:59 pm to el Gaucho
quote:Not true of course. However, if it were true, the justified response would be ....
Millennials will never have power in this country
In 20 years there will be 90 year old boomer senators still in power
Posted on 12/4/25 at 5:04 pm to Penrod
Our home was built in 1958 as a 3 br 1 bath, 1200 sq ft for the refinery plant manager for Exxon, Baton Rouge. Central AC was added years later. My guess is that they had boy and girl otherwise it would have been 2 Br.
That was a very high salary compared to even lawyers back then.
That was a very high salary compared to even lawyers back then.
Posted on 12/4/25 at 5:05 pm to RollTide4547
quote:No need. It was sarcastic. The post did not address your income. It addressed your taxes ...
If so, then he gets a heartfelt apology from me.
quote:
You're taking away the rights of others to pay those taxes.
The folks you're responding to aren't greedy like that.
Posted on 12/4/25 at 5:06 pm to kingbob
quote:
Often times, younger people just want older folks to acknowledge that the game has changed.
Spot on here. Just that acknowledgement would go a long way. Im a millennial and I fully accept that the youth I had and the opportunities I had for dating and work were far better than gen Z and gen alpha will have.
Posted on 12/4/25 at 5:10 pm to CitizenK
quote:
Our home was built in 1958 as a 3 br 1 bath, 1200 sq ft for the refinery plant manager for Exxon, Baton Rouge. Central AC was added years later. My guess is that they had boy and girl otherwise it would have been 2 Br.
That was a very high salary compared to even lawyers back then.
We aren't comparing things to the 50's, we are comparing things to the 90's and 2000's when we grew up.
At the end of the day, the frustration lies with the fact that we are the first generation in American history to have it harder than their parents with less purchasing power and lower quality of life. It's a tough pill to swallow but the only redeeming element is the $90 trillion millennials are set to inherit from their parents which is by far the most ever for a single generation.
This post was edited on 12/4/25 at 5:12 pm
Posted on 12/4/25 at 5:11 pm to Penrod
quote:
Do young people have it harder today? Did Boomers ruin everything?
Young people and Somalians complain about everything.
Posted on 12/4/25 at 5:11 pm to RollTide4547
quote:
Anything worth having is worth working for. 2 people working would be 80K and you can afford it. Will it be hard YES. But then life is HARD.
The boomer parents need to give them some of their inheritance upfront. You can give 19 grand to child and spouse. Do it every year. In fact you can give 76 grand to the same kids again by flipping the giving from me to my wife. In a few years maybe the Gen whatever won't feel so bad. If you have millions, the boomer can pay the taxes and give the kid 250 grand. I'm all for passing it to them when they need it.
Posted on 12/4/25 at 5:11 pm to RollTide4547
quote:
What conventional wisdom would that be? 1) Being thankful for what you have? 2)Spending less than you make 3) Saving for a rainy day 4) Work hard each day to be a little better tomorrow than you were today?
These are universal ideas and most definitely not just a boomer thing. The conventional wisdom that is boomer specific is 1) go to college 2) Make a nice resume, take an entry level job and work your way up 3) any boomer dating advice
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