U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 06-15-2018, 05:25 PM
 
2,360 posts, read 1,034,056 times
Reputation: 2071

Advertisements

Quote:
Originally Posted by aslowdodge View Post
Still have the "woe is me" outlook I see.
I know someone who retired at age 33 because he worked 2 jobs (something you have refused to do to get ahead)
His first job was a full time job. On the side he did real estate investing weekends and evenings. That took money he didn't have so he did all the legwork and partnered with people who put up the money because he did all the work in exchange for them loaning him money for his share. His net worth is about 1.5 million now.
He also hustled to put together an Airbnb business and grosses about $350K a year off of that.
Sure he has to pay back the loans, but his real estate less his loan balances leaves him with 1.5 million.

The difference between him and others with your outlook is drive and desire. It can be done, but you have to put in the time.
So he retire by using other people money, but it still require him to take money to make money. Where would he be if he didnt take the money? Working that full time job.

Im not arguing with that if you want to get ahead, you have to work 20 jobs to do it, but nobody should have to do that to get basic needs in life this news report stated.

Should be simple as -work 40 hours, here is your shelter i use this word loosely free of charge just as long as you are working. You pay the maintenance, and other things you need to survive on. If you want bigger place, then work extra 10 hours and $500 a month. (just throwing something out here, so just go with it). You still get a house just as long as you have a job, no job no house. Todays standard, is job, blood,loans, debt just to get the foot in the door.

 
Old 06-15-2018, 05:28 PM
 
2,360 posts, read 1,034,056 times
Reputation: 2071
Quote:
Originally Posted by jm1982 View Post
Ok so if you have zero money but you do a deal with someone to put up the money for the deal and you do the work and split profit 50/50 you wouldn’t do it ?

If someone loaned you $1,000,000 and charged you 12 percent interest per year and you took that $1 million and made 50% return with it in real estate .. So your profit would be $300,000 for the year would you be better taking the loan or not taking the loan ?
NO matter how you word it.. its money to make money.. its getting the money part of it. Hard to get money when nobody is willing to pay you money to make money.
 
Old 06-15-2018, 05:31 PM
KCZ
 
1,558 posts, read 771,142 times
Reputation: 4364
Quote:
Originally Posted by hitpausebutton2 View Post
Good post.. and add that you need money to make money, more like you need money to go to school to make money. Wait. now you just put your self in more debt to pay for school. Now you need more money to pay for school debt and housing and to do better. Rinse and repeat.
Quote:
Originally Posted by hitpausebutton2 View Post
I didnt say its impossible to do better, but the path that makes it impossible is the issue. so much BS to get where you want to be in life and the course to get their. Not expecting a hand out but shouldnt take 10 years to get what you want to work for as well.



How exactly DO you think people like engineers and neurosurgeons get ahead? Students loans and years of training. If you're not willing to work for it, you're not going to get anywhere.
 
Old 06-15-2018, 05:31 PM
 
Location: Los Angeles (Native)
24,250 posts, read 13,734,429 times
Reputation: 11417
Quote:
Originally Posted by 2sleepy View Post
California property taxes, even those on investment property remain virtually the same over time, at most they go up a small amount every year but in some areas rent has been going up 10 or 15% a year, yet you feel compelled to defend landlords? Yes it's supply and demand, and landlords have a right to suck every last penny from their tenants but it is pure greed. But, in the long run it doesn't really matter because they aren't breaking the law..but the consequences will have a long term impact on society.

I'm not talking about a 19 year old who can rent a room, but this is resulting in large numbers of homeless families. In East Palo Alto 1/3 of the kids in the local school district are homeless. https://www.theguardian.com/society/...fornia-schools

A homeless family of four in Southern California died in their van from carbon monoxide poisoning
https://www.ocregister.com/2018/03/1...-garden-grove/

This will not turn out well, and I see nothing being done to turn things around. Every year fewer jobs are full time with benefits and more are hourly part time or contracted positions.
Not every landlord is raising rents 10-15 percent a year .
Believe It or not most want to keep their tenants long term because turnover is very costly .

People shouldn’t move or live in places where housing takes up such a high amount of their income.
I could find cheaper places for those people to live where they can find jobs and not have to live in a van or garage .
But you know what they will say “the weather .. we can’t leave “ or many other excuses .

People move all the time poor , middle class and rich .

If you see an area getting more expensive and you are a renter that’s a sign to start looking for a cheaper area

I wouldn’t wait around for government to step in and help build cheap housing.
 
Old 06-15-2018, 05:34 PM
 
Location: Cebu, Philippines
2,236 posts, read 816,901 times
Reputation: 4442
I understand what two full time jobs are, but I'm having trouble picturing the other .5 full time job.
 
Old 06-15-2018, 05:35 PM
 
Location: Los Angeles (Native)
24,250 posts, read 13,734,429 times
Reputation: 11417
Quote:
Originally Posted by hitpausebutton2 View Post
NO matter how you word it.. its money to make money.. its getting the money part of it. Hard to get money when nobody is willing to pay you money to make money.
Money is a resource like time . Some people don’t have money but they have time and the person with money might not have time . They partner up .
The person with out money has something the person with money needs and vice versa ..

Even if people have made money they still borrow money .

Or here is another one . Someone has a bunch of time and they make a YouTube channel .. they use the phone they already have . YouTube is free .
They spend all day making videos and then earn money from it .

I guess you will find a reason why that doesn’t work too .
 
Old 06-15-2018, 05:41 PM
 
Location: Oregon Coast
4,119 posts, read 1,492,569 times
Reputation: 5541
Quote:
Originally Posted by cebuan View Post
I understand what two full time jobs are, but I'm having trouble picturing the other .5 full time job.
Two full time jobs and one part time job, or some combination of that. Three jobs total.
 
Old 06-15-2018, 05:44 PM
 
Location: Ohio
18,053 posts, read 13,266,597 times
Reputation: 13876
Quote:
Originally Posted by hitpausebutton2 View Post
https://www.yahoo.com/finance/news/m...174600615.html

Many minimum-wage workers can't even afford a modest one-bedroom apartment, according to the National Low Income Housing Coalition's annual report.
The National Low Income Housing Coalition has an agenda, and they cherry-picked their data to skew the report to support their baseless claims.

Quote:
Originally Posted by hitpausebutton2 View Post
The national housing wage for a modest one-bedroom apartment is $17.90, while the federal minimum wage is $7.25.
The US is a federal republic, not a nation-State, so there is no "national housing wage." That's another clue the National Low Income Housing Coalition has an agenda.

If you want to live in a nation, then move to Norway.

Quote:
Originally Posted by hitpausebutton2 View Post
A low-income worker earning the federal minimum wage would need 2.5 jobs to afford a one-bedroom apartment.
Any reputable analysis would exclude Hawaii and Alaska, since the federal government always excludes Hawaii and Alaska in all economic analsysis, since both are statistical outliers.

Even within the contiguous 48 States, a reputable statistical analysis would exclude outliers.

The fact that Hawaii is included in the study, invalidates the "study" (and you'll see Hawaii on page 2).

You'll also see Alaska and Hawaii on page 14, which further invalidates the "study."

The "study" fails to exclude statistical outliers identified on page 14, which means the "study" is useless.

Quote:
Originally Posted by hitpausebutton2 View Post
Always same excuse. Demand in the area.
The Laws of Economics are not excuses, they are the Laws of Economics, and they are inviolable.

Quote:
Originally Posted by hitpausebutton2 View Post
Right owner cant force somebody to rent, but what is forcing you to keep raising the prices?
Federal, State and local government and the inviolable Law of Supply & Demand.

Every time taxes go up, rent goes up. Every time property taxes increase, rent increases. Every time local, State or federal government enacts laws for rental property owners, the rent goes up to pay for the cost of compliance with federal, State and local laws, regulations and ordinances.

Every time the cost of maintenance, materials or supplies increase, the price of rent increases.

The Law of Supply & Demand also plays heavily in the cost of rental housing.

Why should I rent to you at $450/month, when I have 10 people willing to pay $600/month?

Quote:
Originally Posted by rodentraiser View Post
FDR makes the case for the minimum wage:

https://takingnote.blogs.nytimes.com...mum-wage/?_r=0

“By living wages, I mean more than a bare subsistence level — I mean the wages of a decent living.” (1933, Statement on National Industrial Recovery Act)
The phrase "decent living" is highly subjective.

Can you define "decent living" objectively in no uncertain terms?

Quote:
Originally Posted by rodentraiser View Post
Minimum wage is worth $2 less today than it was in 1968:

https://www.huffingtonpost.com/2013/...n_3461568.html
That only proves that you can re-post cherry-picked data from propagandists and disinformation artists.

Why don't you tell us about minimum wage in 1964?

Is there something wrong with the year 1964?

Quote:
Originally Posted by rodentraiser View Post
A minimum-wage worker can't afford a 2-bedroom apartment anywhere in the US:

https://www.msn.com/en-us/news/us/a-...-us/ar-AAyAJxs
They can afford a 2-bedroom apartment in Cincinnati.

2-bedroom apartments start at $367/month.

These are nice 2-bedrooms costing only $495/month:





That totally refutes your baseless claim.



Quote:
Originally Posted by hitpausebutton2 View Post
From my prospective, goods needs to be base on the average salary in the area, not base on the top 10 high paying jobs end of the spectrum.
The price of goods and services is based largely on Supply & Demand, and any attempt to coerce the price to less than market rates results in the creation of Black Markets, and numerous other methods and means to defeat interference in the market.

One of the functions of Demand-pull Inflation is to preserve, conserve and prevent the depletion of resources, goods and services.

Idiotic suggestions like tying minimum wage to the rate of Inflation only serves to deplete resources, goods and services faster, and always results in increased prices.

Quote:
Originally Posted by hitpausebutton2 View Post
Need.. better wage.

If a CEO cant live off 5 mill bring home but votes NO on the window washer asking for a bump in wage to pay for the higher rent fee or cost of food then that is the issue needs to be looked at. Mean while he votes yes for another 5mil so he can buy another summer house in the villas. That being greedy.
There's nothing wrong with being rewarded for your efforts.

The average CEO wage in the US is $231,080 annually.

Quote:
Originally Posted by hitpausebutton2 View Post
Not sure were you got your CEO math.
From the Bureau of Labor Statistics, instead of from a "news" organization that cherry-picks a minuscule number of CEOs to statistically skew the results for slanted reporting.

https://www.bls.gov/oes/current/oes111011.htm

Only 3% of all US companies are publicly-traded corporations, and even of those, only small percentage are compensated in the $Millions.
 
Old 06-15-2018, 05:48 PM
 
Location: Los Angeles (Native)
24,250 posts, read 13,734,429 times
Reputation: 11417
Quote:
Originally Posted by hitpausebutton2 View Post
So he retire by using other people money, but it still require him to take money to make money. Where would he be if he didnt take the money? Working that full time job.

Im not arguing with that if you want to get ahead, you have to work 20 jobs to do it, but nobody should have to do that to get basic needs in life this news report stated.

Should be simple as -work 40 hours, here is your shelter i use this word loosely free of charge just as long as you are working. You pay the maintenance, and other things you need to survive on. If you want bigger place, then work extra 10 hours and $500 a month. (just throwing something out here, so just go with it). You still get a house just as long as you have a job, no job no house. Todays standard, is job, blood,loans, debt just to get the foot in the door.
What’s your point though ? Like several of us said who cares if you have to pay back money if you are making a lot of money off the money you borrow ?

Who cares if you split a deal with someone 50/50 , if it means you couldn’t do the deal otherwise?

The point is that this guy thought outside of the trading time for money mindset. He took a different path and that means he retired like 30 or 40 years before “retirement age “
Also a lot of people are doing similar things without a degree.

He wanted more out of life and did things to achieve a better life instead of saying he deserves more .

Shelter for free? And who is going to pay for it ?
 
Old 06-15-2018, 05:57 PM
 
Location: Florida
4,397 posts, read 2,441,720 times
Reputation: 7793
It should be called starting wage, not minimum wage.

To earn more it is incumbent on you to enhance your skills to make you more valuable to your employer.

My granddaughter has room mates and she earns far more than starting wage.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Closed Thread

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top