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re: How can the average person afford to live?
Posted on 9/5/23 at 4:27 pm to wackatimesthree
Posted on 9/5/23 at 4:27 pm to wackatimesthree
No, I know its corporate dairy's putting family owned one's out of business. Mainly just curious what your response would be.
0
Posted on 9/5/23 at 4:32 pm to Zach
quote:frick those young people that voted for Biden. Elections have consequences you socialists morons.
I feel bad for younger people who want to buy a house or car.
No one “deserves” to own a home, especially in your 20’s.
This post was edited on 9/5/23 at 4:34 pm
Posted on 9/5/23 at 4:46 pm to wackatimesthree
quote:
If you take a house for $450,000 at today's interest rates and run the numbers according to average interest rates for the past five years, you get this:
Principal paid: $450,000
Interest paid: $309,469.34
For a total of $759,469.34
Your numbers are way off, you messed up your math somewhere.
Posted on 9/5/23 at 4:58 pm to Stonehog
quote:.... and why Zoomers can ??
Why Millennials Can't Afford Homes
Posted on 9/5/23 at 5:05 pm to NC_Tigah
quote:
and why Zoomers can ??
We went over this yesterday and this is from an article YOU posted. Did you forget already?
quote:
The oldest of Gen Z were buying houses during the purchasing boom in 2020 and 2021, while the oldest Millennials reached age 25 right around the 2008 mortgage crisis.
Posted on 9/5/23 at 6:21 pm to Major Dutch Schaefer
I know I was sent to the store for chips for a get together. I bought a bag of Ruffles and a bag of Tostitos. When checking out I see they are 6.99 per bag. Christ almighty.
Posted on 9/6/23 at 4:35 am to Stonehog
quote:As I pointed out then, and will again, Millennials reached age 25 in 2006 AT THE PEAK OF THE EASY LENDING CYCLE, not in 2008.
We went over this yesterday and this is from an article YOU posted. Did you forget already?
quote:
The oldest of Gen Z were buying houses during the purchasing boom in 2020 and 2021, while the oldest Millennials reached age 25 right around the 2008 mortgage crisis.
So, at a time when a migrant strawberry picker could buy a $750K home w/o so much as a downpayment, Gen-Y still lagged in home purchases. Now you can speculate as to why that was the case. You can make excuses for it. You can try to rationalize it. But you cannot blame it on events which were still >2yrs in the future.
In 2006, Gen-Y disinterest in homeownership had not one damn thing to do with the mortgage crisis.
Contentions to the contrary are akin to blaming a poor 2006 stock portfolio performance on the 2008-2009 crash.
This post was edited on 9/6/23 at 4:37 am
Posted on 9/6/23 at 5:27 am to LARancher1991
quote:
Well hell I hate to say it but ya got me there.
Always good to see the lights come on.
Posted on 9/6/23 at 5:50 am to Stonehog
quote:
Your numbers are way off, you messed up your math somewhere.
I can check using another online mortgage interest calculator, but the only math I personally did was adding the principal and interest numbers together.
What mistake did you see?
Or are you just going by, "It can't be that much?" Yeah, it can. Compound interest is what Albert Einstein called the 8th Wonder of the World because it is so powerful. Even a simple interest loan like a mortgage can add up like that because it's taken over such a long period of time.
That's why you have no business expressing opinions on this topic when you don't even understand why 16.63% interest in 1981 was such a big deal to people buying homes back then, and you DEFINITELY have no business calling other people stupid because they don't just buy into the narrative.
Do your own math if you don't like the calculator I used. When you do what you will see is that all these clickbait articles that you are parroting are manipulating you by cherry picking numbers without the full picture of the cost of home ownership in order to craft a narrative of victimhood for young people today. Things are different, yeah. The houses are more expensive while the interest on the loans isn't as much. The real estate agents and contractors make more and the banks not as much. The houses are bigger but the lots are smaller. But the shell game works out pretty close to even when you consider all the factors.
This post was edited on 9/6/23 at 6:01 am
Posted on 9/6/23 at 6:03 am to Stonehog
quote:
The oldest of Gen Z were buying houses during the purchasing boom in 2020 and 2021, while the oldest Millennials reached age 25 right around the 2008 mortgage crisis.
I'm an older millennial (I turned 25 in 2008, in fact). We purchased our second home in 2009. We now have a handful of properties in three states, and are looking at another in a fourth state.
I can't find the quote in the article you linked, so I don't really know what the context of it is, but if people my age are having problems buying a house it's because of poor decisions.
Posted on 9/6/23 at 6:24 am to wackatimesthree
Wow, this whining thread is still going on?
I see Stone is not giving up...guess he likes sitting in the cuck chair. Rich seems to have bailed or is looking for the holy grail of excuse making to substantiate said whining.
I see Stone is not giving up...guess he likes sitting in the cuck chair. Rich seems to have bailed or is looking for the holy grail of excuse making to substantiate said whining.
Posted on 9/6/23 at 8:20 am to wackatimesthree
quote:
What mistake did you see?
You used 2% interest as “today’s interest rate.”
Posted on 9/6/23 at 8:22 am to DisplacedBuckeye
quote:
I'm an older millennial (I turned 25 in 2008, in fact).
It all makes sense now
Confirmed fraud
Posted on 9/6/23 at 8:35 am to SDVTiger
quote:
It all makes sense now
Confirmed fraud
Explain.
Posted on 9/6/23 at 8:36 am to DisplacedBuckeye
Oh Cuckeye you just keep up your fraudulent persona on here
We will continue to lol
We will continue to lol
Posted on 9/6/23 at 8:37 am to SDVTiger
OK, so you have nothing as always.
Just wanted to be sure.
Just wanted to be sure.
Posted on 9/6/23 at 8:44 am to DisplacedBuckeye
quote:
OK, so you have nothing as always.
Sure dont you fraud
Posted on 9/6/23 at 8:45 am to SDVTiger
K.
Posted on 9/6/23 at 8:47 am to DisplacedBuckeye
Exactly. You should really just stfu moving forward
Posted on 9/6/23 at 8:49 am to SDVTiger
What is your obsession with me, Simp?
You know I'm never going to frick you, right?
You know I'm never going to frick you, right?
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