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re: What do you think is causing the housing slump?
Posted on 6/5/19 at 1:22 pm to pizzatiger
Posted on 6/5/19 at 1:22 pm to pizzatiger
quote:Yes.
Is that unique?
quote:
I worked during HS and college, sometimes 20 or 30 hours a week
I didn't say it was unheard of. But, the scale at which young people work prior to adulthood now isn't even in on the same planet as when I was in HS.
quote:
My professional employers have never asked me about any of those jobs.
Never said they would. But, make no mistake, I've seen it in my own life. There is a VERY discernible difference between workers who didn't work a day in their lives until after college, or marginally worked, vs those who did. Yes, it's not universal. But the pattern is unmistakable.
1
Posted on 6/5/19 at 1:23 pm to Loserman
quote:I don't know how my post referencing someone who was 18 in 1928 got converted to "born in 1928".
Someone born in 1928
Posted on 6/5/19 at 1:29 pm to DeltaHog
quote:
I went to college, took loans out and it wasn’t for me. I found a trade and skill, which most you old timers bitch about my generation not doing,
I don't doubt that many "old timers" do this, but frankly, you have such a large chip on your shoulder about it, you assume it's happening even in cases where it isn't.
I will happily regale you with all of the negative attributes of millennials. But ya know who I blame for that shite? MY generation!
You guys didn't pop out of the fricking womb irresponsible, lazy, entitled or any other negative thing.
You guys didn't CREATE the "everyone gets a trophy" paradigm.
That shite was taught to you. And, it was taught to you by people who should have known fricking better.
If you hear me talking to millennials on this subject and really listen, what you'll note is that my bottom line point is a fairly simple advice. And that is:
It really doesn't matter why your generation got taught fricked up values.......the only people who can fix it is...........YOU.
And, my complaint is that quite often, the stupid policies that led to the fricked up values are actually MOST popular today among.................frickin MILLENNIALS!
I mean, I get it. Mommy and Daddy made some poor decisions. But the fricking solution to that isn't to ADD TO the poor decisions!
Posted on 6/5/19 at 1:30 pm to ShortyRob
quote:
There is a VERY discernible difference between workers who didn't work a day in their lives until after college, or marginally worked, vs those who did. Yes, it's not universal. But the pattern is unmistakable.
What is the difference in your view?
Posted on 6/5/19 at 1:40 pm to crazy4lsu
quote:
What is the difference in your view?
Basic work ethic.
I have theories on why that is but, that's what they are, theories.
I just think that work ethic, like virtually any other thing humans do, is habit forming. In addition, I think that it gives one a frame of reference.
If the first real job you ever have is the one where you are hired at some company right out of college, you never experienced being REALLY at the low end of the hierarchy. I think it can almost feel "owed" to you.
Meanwhile, even at my age, every day I don't go home smelling like the fryer and covered in grease........or every day I go home not covered in paint to the point that I can't get it out of my hair, I'm grateful. When shite gets funky at work as is prone to happen, it literally is INCAPABLE of ever getting as funky as I've lived through.
So, the difference shows in work ethic, attitude, gratefulness, and, hell, even in the recognition that you aren't OWED the job. The job doesn't exist so that you may have one. It exists because the employer needs something done.
This post was edited on 6/5/19 at 1:42 pm
Posted on 6/5/19 at 1:46 pm to trinidadtiger
I'm on an MLS list serve for houses in uptown New Orleans between $750k and $1.5m. Obviously, this is highly anecdotal, but if a good house pops up in that range, it's gone in a couple of days. Nothing sits for very long here.
Posted on 6/5/19 at 1:46 pm to ShortyRob
Broadly speaking, it seems like you are talking about an entitled attitude. And I pretty much agree.
Posted on 6/5/19 at 2:35 pm to crazy4lsu
quote:Pretty much.
Broadly speaking, it seems like you are talking about an entitled attitude. And I pretty much agree.
For at least 10 years, I've experienced a LOT of new young employees that think that merely arriving at work without setting the place on fire plus having a degree = "should get promoted".
When I was young, I arrived at work considering the employer to have done ME the favor by hiring me.
People arrive to jobs today as if they did the employer a favor.
Now, OK. If you're a superstar free agent athlete, you can act like you did your pro team a favor by signing with them or a top ranked surgeon, you can act like you did the hospital a favor. For the rest of you. Get a fricking grip.
Posted on 6/5/19 at 7:08 pm to trinidadtiger
quote:
What do you think is causing the housing slump?
College loans.
Posted on 6/5/19 at 7:10 pm to trinidadtiger
Is there a housing slump?
My house sold on the first day it was listed in Pennsylvania. The house I bought in Illinois was on the market for 5 days.
Is this thread wishful thinking on the part of the OP or is my experience entirely anecdotal?
My house sold on the first day it was listed in Pennsylvania. The house I bought in Illinois was on the market for 5 days.
Is this thread wishful thinking on the part of the OP or is my experience entirely anecdotal?
This post was edited on 6/5/19 at 7:12 pm
Posted on 6/6/19 at 8:57 am to theOG
quote:I wonder who's buying them
Obviously, this is highly anecdotal, but if a good house pops up in that range, it's gone in a couple of days. Nothing sits for very long here.
Posted on 6/6/19 at 9:08 am to DeltaHog
quote:Certainly not the ones that are not the fault of the kids. My daughter just got out of college. Debt free, earned scholarships, kept them and got out as an engineer. Just getting loans for meaningless degrees with zero earning potential is the fault of the parent?
The first time in this country’s history your kids won’t live as prosperous or more than you. Now who’s fault is that?
quote:I don't have an issue with anyone moving back home to get a start. The problem is the kids have set themselves up where there is no other choice.
I don’t think anyone’s parent instilled upon them to move back home and become a failure.
quote:Ok, this is just laughable.
It has been a lot harder for my generation to get a solid foundation economically than any other.
Just like you saying you can't find an affordable home in NOLA. You may not be able to buy a home WHERE you want it in NOLA...but guess what chap, NO ONE I know bought their starter home in an area they planned on...they took what they could get, paid their notes, improved the property and stair stepped their way to the home they wanted.
By no means is it easy, but it was never easy for any one aside from trust fund kids.
Posted on 6/6/19 at 9:09 am to dewster
quote:I don't think your experience is that common, but I live in Alexandria. We are as stagnant as any place in the world.
Is this thread wishful thinking on the part of the OP or is my experience entirely anecdotal?
Posted on 6/6/19 at 9:12 am to trinidadtiger
what housing slump?
a damn house went on the market up the street and was off 3 days later.
another took a whole 5 days.
I may have to sell just to enjoy the ride.
a damn house went on the market up the street and was off 3 days later.
another took a whole 5 days.
I may have to sell just to enjoy the ride.
Posted on 6/6/19 at 9:15 am to bmy
quote:
Boomers arent retiring and millenials are making less because of it.
Big issue... maybe less of an impact to the housing market; but an issue none the less
Posted on 6/6/19 at 9:19 am to trinidadtiger
quote:
slowdown in foreign capital flow into US real estate, and a topping out of demand for higher priced homes. There’s a price point that people can’t pay, no matter how much they want to.
This is true. It has another cultural side as well.
Back when the OP was younger people had the concept of living one place your entire career (typically in the same city you came from).
This trend has shifted as more young adults want to move closer to urban areas. And to be fair, many of the starter homes people lived in that were once good communities have become bad neighborhoods over decades.
So the good jobs your parents had may no longer exist in your hometown or your career is not matched in you location ( like me).
This post was edited on 6/6/19 at 9:22 am
Posted on 6/6/19 at 9:52 am to tigerfoot
quote:
don't think your experience is that common, but I live in Alexandria. We are as stagnant as any place in the world.
My hometown was in Leesville. You guys are stagnant, but we are cinderblocks.
Posted on 6/6/19 at 11:18 am to volod
quote:i generally try to point out the good qualities of towns.
My hometown was in Leesville. You guys are stagnant, but we are cinderblocks.
With Leesville all I can think of is it is not Ferriday
Posted on 6/6/19 at 11:23 am to Bulldogblitz
quote:
what housing slump?
A healthy national average is 6 months inventory. We currently have about 4.2 months, which is up from previous, but still not what would even be considered healthy inventory.
In some worlds, that is considered a housing slump.
Posted on 6/6/19 at 11:48 am to trinidadtiger
quote:
My point is, maybe it has as much to do with culture as it does affordability, and the fed reducing rates isnt going to fix it.
nailed it. surplus in supply as a result is hurting values in many markets
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