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Started By
Message
Major social unrest is coming
Posted on 4/26/22 at 9:28 am
Posted on 4/26/22 at 9:28 am
The cost barriers to homeownership have prevented younger millennials and zoomers from entering the market and achieving “the American Dream”.
My wife is an architect and has several younger architects under her supervision. They’re all making around $55K, yet they all rent and have roommates. Now this is Nashville, so housing costs are REALLY out of control, but it’s everywhere really.
No young person starting out in a professional career can afford a $400K home without serious help from their family.
I bought my first home at 26, but there is no way I could do that today.
For all the sh!t we give younger folks, I do feel for them.
My wife is an architect and has several younger architects under her supervision. They’re all making around $55K, yet they all rent and have roommates. Now this is Nashville, so housing costs are REALLY out of control, but it’s everywhere really.
No young person starting out in a professional career can afford a $400K home without serious help from their family.
I bought my first home at 26, but there is no way I could do that today.
For all the sh!t we give younger folks, I do feel for them.
92
Posted on 4/26/22 at 9:29 am to Eli Goldfinger
Almost like it is by design.
Posted on 4/26/22 at 9:30 am to Eli Goldfinger
Hell, I couldn't afford today to buy where I am living.
Posted on 4/26/22 at 9:30 am to Eli Goldfinger
quote:
They’re all making around $55K, yet they all rent and have roommates. Now this is Nashville, so housing costs are REALLY out of control, but it’s everywhere really.
Any decent city will have high prices within the city limits.
You know what prior generations did? Bought in the suburbs and made the long drive to work.
This post was edited on 4/26/22 at 9:31 am
Posted on 4/26/22 at 9:31 am to Eli Goldfinger
Anyone who buys a house right now at the peak of this insane market is just asking for trouble.
Posted on 4/26/22 at 9:32 am to Eli Goldfinger
quote:
The cost barriers to homeownership have prevented younger millennials and zoomers from entering the market and achieving “the American Dream”.
Millennials are in their 40's now. Not feeling sorry for anyone who's had 20 years to save a downpayment on a house by then.
quote:
My wife is an architect and has several younger architects under her supervision. They’re all making around $55K, yet they all rent and have roommates. Now this is Nashville, so housing costs are REALLY out of control, but it’s everywhere really.
That's what millennials WANT. Most of them do not want to own anything.
quote:
No young person starting out in a professional career can afford a $400K home without serious help from their family.
Maybe they should consider buying a small "starter" house or even a trailer like all of us previous generations did.
quote:
For all the sh!t we give younger folks, I do feel for them.
They voted for this. I feel NOTHING for them.
Posted on 4/26/22 at 9:33 am to LSUAlum2001
quote:
Any decent city will have high prices within the city limits.
You know what prior generations did? Bought in the suburbs and made the long drive to work.
That's great, should people have to drive 50 - 60 miles one way to get an affordable house? That causes issues as well. Boomers didn't have to compete against a bunch of foreigners and blackrock capital when purchasing homes.
Posted on 4/26/22 at 9:33 am to Eli Goldfinger
They can always rent from Blackrock.
Posted on 4/26/22 at 9:33 am to VoxDawg
Bet you said this in 1986 and in 2008 too.
Posted on 4/26/22 at 9:33 am to Eli Goldfinger
Home ownership isn’t about the American dream. It’s about banks making a buck.
I don’t feel bad for the people moving to Austin or Nashville and bitching about high housing costs. That’s the premium you pay to live in a booming area.
I don’t feel bad for the people moving to Austin or Nashville and bitching about high housing costs. That’s the premium you pay to live in a booming area.
Posted on 4/26/22 at 9:34 am to Bearcat90
quote:
Millennials are in their 40's now.
Some of the far older range millenials are 40-41. Most are not. Some are in their 20s as well. Don't be a dumbass and make general statements.
quote:
They voted for this. I feel NOTHING for them.
Not all of them did. You seem to have very strong opinions about things you aren't really knowledgeable on.
This post was edited on 4/26/22 at 9:37 am
Posted on 4/26/22 at 9:34 am to Eli Goldfinger
The fact that a 20 something thinks they deserve a 400k house is laughable
Posted on 4/26/22 at 9:34 am to Pookers
quote:
That's great, should people have to drive 50 - 60 miles one way to get an affordable house?
TIL all suburbs are over 50 miles from city centers
Posted on 4/26/22 at 9:34 am to LSUAlum2001
quote:The suburbs are where those huge arse prices are. If you go into the cities it’s even worse. I looked at a 3 bed, 2 bath one story house about 20 minutes from downtown where I live at. They were asking for $310,000 and will likely get more than that.
You know what prior generations did? Bought in the suburbs and made the long drive to work.
So don’t act like this is a younger generation thing. The system itself is fricked right now
This post was edited on 4/26/22 at 9:36 am
Posted on 4/26/22 at 9:35 am to Eli Goldfinger
My first housing arrangement was a small house 40 minutes from the city center rented with two other roommates.
Married and wife had student loan debt. Found the cheapest apartment in the safe suburbs of Orlando and paid off her debt and started saving for home down payment.
Worked two jobs. Sometimes three.
My sympathies are few.
Married and wife had student loan debt. Found the cheapest apartment in the safe suburbs of Orlando and paid off her debt and started saving for home down payment.
Worked two jobs. Sometimes three.
My sympathies are few.
Posted on 4/26/22 at 9:35 am to Pookers
quote:
That's great, should people have to drive 50 - 60 miles one way to get an affordable house?
shite, I once drive 180 RT per day for work as an Engineer at Stennis Space Center. No mileage paid.
You can't complain, you just do it, and be on the lookout for a closer job opportunity.
Posted on 4/26/22 at 9:35 am to Eli Goldfinger
quote:
housing costs are REALLY out of control
And how should costs be ‘controlled’ Mr. Free Market Conservative poster?
Posted on 4/26/22 at 9:35 am to Eli Goldfinger
I bought my first house relatively late, in 2003, and got a decent cookie cutter starter home for $123,500.
In 2022, try to find anything decent at that price level to get into the market, in an area where you won’t be murdered.
Posted on 4/26/22 at 9:36 am to Eli Goldfinger
Ask Blackrock what they think about this as they have bought up swaths of neighborhoods so you’re competing not only against other middle income families, but a company with untold billions to spend.
Posted on 4/26/22 at 9:36 am to Lynxrufus2012
quote:
Hell, I couldn't afford today to buy where I am living.
this.
i found a house i could pay cash for using the science fiction price i got for my current house.
i'd rather not have a mortgage and have a more modest house in this crazy environment.
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