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A housing market crash would wipe us out faster than everyone else.
We don't have much to lose.
We destroyed the economy and our education system - so the future economy - creating all this inflation, supply chain screwups, and asset insanity in response to a disease that barely affected us. I wish now covid had taken all the old people out. We destroyed our young peoples' lives in order to preserve their short ones. I can't think of any time in history we sacrificed the young for the old this way.
I've been in education 12 years and I have NEVER seen anything like this. I dare you to go into a school. Observe the behavior problems from 2 years of lacking socialization. Observe the learning loss, everyone behind 1-3 grade levels, especially among the lower income families. They will never catch up and always be behind.
Observe the empty seats from kids who just QUIT online school because you can't make a human connection that way. Their whole cohort lost 2-3 years... they won't be as competitive.
Gen Z is now in their 20s...they have no HOPE of ever owning houses at these valuations. And keep in mind they lost 2 years of skill building. They're going to be forever behind in reading and math, etc...
The interest rates are going up but valuations are ALSO going up. Where will they ever get the hundreds of thousands in capital they need to buy in?
I would LOVE to see the Boomers lose all their precious inflated pandemic equity. Yes I would take a hit too and I don't care.
We destroyed the economy and our education system - so the future economy - creating all this inflation, supply chain screwups, and asset insanity in response to a disease that barely affected us. I wish now covid had taken all the old people out. We destroyed our young peoples' lives in order to preserve their short ones. I can't think of any time in history we sacrificed the young for the old this way.
I've been in education 12 years and I have NEVER seen anything like this. I dare you to go into a school. Observe the behavior problems from 2 years of lacking socialization. Observe the learning loss, everyone behind 1-3 grade levels, especially among the lower income families. They will never catch up and always be behind.
Observe the empty seats from kids who just QUIT online school because you can't make a human connection that way. Their whole cohort lost 2-3 years... they won't be as competitive.
Gen Z is now in their 20s...they have no HOPE of ever owning houses at these valuations. And keep in mind they lost 2 years of skill building. They're going to be forever behind in reading and math, etc...
The interest rates are going up but valuations are ALSO going up. Where will they ever get the hundreds of thousands in capital they need to buy in?
I would LOVE to see the Boomers lose all their precious inflated pandemic equity. Yes I would take a hit too and I don't care.
Feel free to destroy yourself by giving away everything you own then.
Don't take the productive millennials down with you. Plenty of millennials and Gen Z are buying houses and building wealth just fine. Just because YOU can't doesn't mean NO ONE can.
Keep blaming boomers for your own incompetence. I'm sure that will do you a whole lot of good.
Feel free to destroy yourself by giving away everything you own then.
Don't take the productive millennials down with you. Plenty of millennials and Gen Z are buying houses and building wealth just fine. Just because YOU can't doesn't mean NO ONE can.
Keep blaming boomers for your own incompetence. I'm sure that will do you a whole lot of good.
LOL are they now? With what 100s of thousands are they buying in?
Nearly two-thirds of millennials find cities unaffordable; 1 in 10 scrapped ownership plans altogether.
Millennials broadly view COVID-19 as the latest obstacle in a “raw deal” on affordable housing.
The cost of renting is so high that homeownership has been put on the back burner.
Among millennials living in suburban areas, 27% completely abandoned their home owning plans due to COVID.
Thirty-six percent of millennials find home ownership hard to afford where they currently live, and an additional 20% find home ownership where they live extremely hard to afford.
Thirty-three percent would move to a smaller town to find more affordable housing.
Oh but I'm just making this all this up and it's my own incompetence, despite me saying I've had a career for 12 years. I would have been fired if I was incompetent? Reading comprehension needs a little work.
I like how you read nothing I said and instead want to dole out personal insults and made assumptions about me. How do you know what my net worth is? You don't.
Last edited by redguard57; 03-27-2022 at 12:45 AM..
Oh but I'm just making this all this up and it's my own incompetence, despite me saying I've had a career for 12 years. I would have been fired if I was incompetent? Reading comprehension needs a little work.
I like how you read nothing I said and instead want to dole out personal insults and made assumptions about me. How do you know what my net worth is? You don't.
From the OCR article: A survey of 900 non-owner millennials conducted last spring shows plenty of millennials are discouraged about the prospects of homeownership.
Of course those 900 who haven't bought a home yet are discouraged. Where's the survey of 900 who did?
Again, this is all location based. i assume you are on the west coast. Our family members in CA, WA & NY haven't bought homes. Everyone else in other states have nice homes.
But I don't understand your hatred against us boomers and why you want us to lose anything.
Oh but I'm just making this all this up and it's my own incompetence, despite me saying I've had a career for 12 years. I would have been fired if I was incompetent? Reading comprehension needs a little work.
I like how you read nothing I said and instead want to dole out personal insults and made assumptions about me. How do you know what my net worth is? You don't.
Homes have never been affordable to first time homebuyers. Get over it.
And if you had a career for 12 years, that you were unable to buy a house is your fault and your fault only. You have no one to blame but yourself. And if you think a housing crash that, in all likelihood, would wipe out your career, would enable you to buy a house, you're delusional.
Homes have never been affordable to first time homebuyers. Get over it.
And if you had a career for 12 years, that you were unable to buy a house is your fault and your fault only. You have no one to blame but yourself. And if you think a housing crash that, in all likelihood, would wipe out your career, would enable you to buy a house, you're delusional.
I bought my first house for 95k 8 years ago. Yeah, they were affordable and it wasn't that long ago.
Wow you really want pull it out and measure don't you? I've owned two houses and made off of them... a lot. Multiple 6 figures. This is not about me. In fact I would give back every dime of gains to have the kind of affordability back that used to exist.
You keep wanting to make this a measurement of me personally and disregarding the actual issues. As if anyone doesn't own a house they are a personal failure and there is nothing wrong with the market now.
Even here in a high cost area like nyc , first time buyers don’t usually jump right in to a house .
Most , including us and all our kids started life buying coops in high rise buildings which are far more affordable and a stepping stone to a house.
So while single family homes may be tough to afford , we have alternatives that are more affordable
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