Why is life so much harder then it was 20-25 years ago??? (real estate, condo)

[EEEPNJ]

Originally Posted by EB2

This is exactly right. Unfortunately, your description is now a "Starter Home" for many.

Well, so long as everything is well, Luke!

LOL EB, when I bought my first home (my current home) everyone said "Well, it's a nice starter..." I said "As long as the town stays good and the taxes are reasonable, you can bury me in the back yard!" My home is fine. It has more than enough room for all in it and storage to boot. Having to have MORE MORE MORE is a big problem in todays society. I live better than MOST of the world and I never loose sight of that.

[EEEPNJ]

Originally Posted by wileynj

Exactly! I remember my parents saving up to buy a car... none of this new car every 2 yr crap! And dad was out every weekend washing, polishing, shining up the white walls.... now, if it gets dirty, we just trade it in. We're a "spoiled" generation... we have to have all the gadgets and all the designer labels. Well at least we did..or I did but this recession has taught me some very valuable lessons - it's been a very humbling experience to say the least!

AGREED! I remember a friend showing me an article in Bride's magazine when she got married about 6 yrs ago. It said the average bride in the US gets an engagement ring of 1/2 carat. She couldn't beleive it because everyone we knew was getting 2 carat diamonds, 1 carat was considered "small". I said "THIS IS BERGEN COUNTY. Everyone here is a freaking snob....what do you expect?" Funny how in the old days marriages lasted longer and often there was NO engagement ring or a tiny one.

What about purses? Growing up in the 70's my Mom got a "special" pocketbook from "Bambergers" for a wedding. I remember it cost $35 and she was just so besides herself for spending that much on a purse. It was leather, well made, practical and I swear she still uses it..but she always lamented spending $35 on this purse. Now a days we pay thousands for VYNIL bag by LV or a microfiber Kate Spade....

Truth is...we're a bunch of idiots.

[EEEPNJ]

Originally Posted by VeradoDan

It seems, however, that salaries (in the private sector, at least) have not kept up with the modern cost of living. I have some friends who graduated college in the past couple of years and they can't find a job anywhere that pays above $40K. My mother, without a college degree, was making that at AT&T in 1985! Yes, we might spend a couple hundred more per month on cell phones and cable, but in the grand scheme of things it just seems that people are swamped because their jobs simply don't cover the cost of living adequately.

I think "society" as a whole is more difficult because salaries haven't kept up with increases in the cost of living but people have, in some cases, artificially inflated their cost of living beyond what is reasonable.

THIS is also true. And like I said, we've devalued the American worker. We have a glut of College grads and one of the reasons for that it the manufacturing sector in our country is destroyed. The service sector, which tends to be more low-paying, is also going the way of the wind due to outsourcing. Companies don't want to pay and they are more than happy to send jobs to India/Phillipines...wherever... if it will mean more capital for the CEO and sharholders...to hell w/ everyone else. The US worker is no longer cometing w/ other US workers, but with workers from every country in the world.

[colleeng47]

Someone on one of the Business/Finance forum posted a link to a video of a woman who gave a speech on the middle class. She said in 1970 a woman with a 16 year old child was less likely to be in the work force than a woman with a 6 month old child today. So between 1970 and today, moms all went back to the workforce, which raised the family income. Also, in 1970 personal savings rate was ~11%. Additionally, there was no credit card debt. Today, we have two paychecks, 0% savings, and (in most cases) credit card debt. So is the middle class being maintained? Doesn't seem likely. Who's going out to the work force next, the family dog?

[elflord1973]

Originally Posted by Alex07860

Well, I also think that Mom & Pop's when they bought their home, they got something modest & decent, not a McMansion w/ 10 bedrooms and 5 bathrooms w/ a rec room, a family room, an entertainment room, a formal dining room a breakfast nook, a finished basement, a pool, a guest house, a dog house, a tree house....etc...etc...etc...you catch my drift LOL

I've been around, spent the w/e with DW and son enjoying a good MD. But don't worry PL, the force is strong in me, I'm still around.

You pretty much need to be a wall st employee just to get into a middle class neighhorhood in NJ. I doubt those McMansions that go for close to a million are being sold to 20-somethings. Most of the people who can afford them are cashing in on equity obtained by buying before the bubble.

[dhanu86]

These days everyone in a household needs a job to pay the house,each person's car,insurance, cable, electric, phone, college loans since college has become an essential to our culture etc. If somebody isn't verry educated/ skilled or employed in a safe industry,they're likely to join the desperate military and be sent to Iraq, Kabul or Korea and for what?

[nowitsshowtime]

I was going to write a big paragraph on this, but it comes down to, people are idiots nowadays. I'll speak mostly on behalf of the younger generation that I am familiar with.

Marketing, credit cards, weak values and being financially retarded are big factors.

[Irish Eyes]

Originally Posted by colleeng47

Today, we have two paychecks, 0% savings, and (in most cases) credit card debt. So is the middle class being maintained? Doesn't seem likely. Who's going out to the work force next, the family dog?

It doesn't matter if the dog goes to work. As long as they keep spending more than they make they will stay right where they are. And have a grumpy dog on top of it all.

[Shet]

Originally Posted by Alex07860

reality is that they didn't have to HAVE 4 TV's w/ Cable/Satellite, 4 cars in the drive way, cell phones, 2 PC's or 2 Laptops w/ wifi, XBOX or PS2 or 3 or 4. Or they didn't need to go on vacation to Europe or Mexico or some exotic places

Also, how about medical insurance then versus now?

[CaptainNJ]

i bet people 20-25 years ago complained about their hard lives. good luck trying to find a woman who grew up at that time who says it was easy back then. no women ever wants you to believe she had it easy (no matter how easy she had it).