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Old 07-21-2006, 02:55 PM
 
5,265 posts, read 10,407,681 times
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And the irony..... all of those younger people moving here from NY and Fl and CA are doing the same thing to the real estate market here as the generation before them did to the market in their hometowns.
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Old 07-21-2006, 04:40 PM
 
304 posts, read 391,178 times
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Quote:
Originally Posted by i'minformed
And the irony..... all of those younger people moving here from NY and Fl and CA are doing the same thing to the real estate market here as the generation before them did to the market in their hometowns.
Exactly!! Thats what causes the problems....
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Old 07-21-2006, 05:30 PM
 
Location: North Carolina
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Quote:
Originally Posted by lukeb321
Well my wife has connections w/ wake schools and we actualy found out with the supplement we would make close to 35k each, so out income is closer to 70k gross.
Check out the First Time Home Buyers program that is still available in NC

http://www.nchfa.com/Homebuyers/HBwhatweoffer.aspx

I didn't even know it was still around; I know some friends utilized it years ago to buy their first home and it helped a great deal. There may be limits as far as gross income, so read the fine print.
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Old 07-21-2006, 10:40 PM
 
Location: Charlotte,NC, US, North America, Earth, Alpha Quadrant,Milky Way Galaxy
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Quote:
Originally Posted by enlightenme
And the irony..... all of those younger people moving here from NY and Fl and CA are doing the same thing to the real estate market here as the generation before them did to the market in their hometowns.



So, what is the younger generation suppose to do then??? Stay in their hometowns and rent the rest of their lives? Where I am from, it is mainly the second time homeowners driving up the housing prices by cashing out and buying bigger with their equity. They are the only ones who can afford the down payment. I really don't think the first time, younger homeowner are causing problems, but people who already own and make a killing when they sell their house. They are now able to either pay for a house in cash or have a huge down payment driving up housing costs in other areas.

Interesting, the younger generation has access to more education, makes more than their parents, BUT largely find that they can't afford to own anything. I'm going to offer my fabulous opinion (which is worth about 2 cents ), the "older" generation was far more thrifty, budget, and savings conscience than the younger generation (I'm 36 so I think I still squeak in that category ). I've had this conversation with my father many times, and he often remarked "if I made the money you make now..." the things he could do. A few years back my wife and I did an analysis on the money went spent on eating out- needless to say our jaws hit the floor when we added it all up in a 6 months period.

Anyway just food for thought, I tend to be optimistic and highly believe in where there's a will there's a way...
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Old 07-21-2006, 10:45 PM
 
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It has a lot to do with self discipline amd responsibility (or the lack there of). The younger people, and with no disprespect to anyone.... MANY of the people posting on this forum, are too busy blaiming everyone else.... ESPECIALLY their local government and fellow members of their community...EVERYONE ELSE for their woes in their hometowns; to actually try and make it work. Just pack up and move away and do the same thing to another area's future generations. It's a very sad pattern that I don't see ending any time soon.
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Old 07-21-2006, 10:54 PM
 
Location: NW Phoenix
477 posts, read 1,062,816 times
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Quote:
Originally Posted by Miker2069
Interesting, the younger generation has access to more education, makes more than their parents, BUT largely find that they can't afford to own anything. I'm going to offer my fabulous opinion (which is worth about 2 cents ), the "older" generation was far more thrifty, budget, and savings conscience than the younger generation (I'm 36 so I think I still squeak in that category ). I've had this conversation with my father many times, and he often remarked "if I made the money you make now..." the things he could do. A few years back my wife and I did an analysis on the money went spent on eating out- needless to say our jaws hit the floor when we added it all up in a 6 months period.

Anyway just food for thought, I tend to be optimistic and highly believe in where there's a will there's a way...

Exactly.....the younger generation, like myself, we want instant gratification. We want the nicest cars and our kids to have the best clothes. I cannot tell you how many big SUV's I see here on the weekends pulling beautiful boats. Im thinking, who the He!! can afford this stuff? I know we can't! What will our kids do in their generaton?
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Old 07-21-2006, 11:04 PM
 
Location: Charlotte,NC, US, North America, Earth, Alpha Quadrant,Milky Way Galaxy
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Quote:
Originally Posted by sassieb75
Exactly.....the younger generation, like myself, we want instant gratification. We want the nicest cars and our kids to have the best clothes. I cannot tell you how many big SUV's I see here on the weekends pulling beautiful boats. Im thinking, who the He!! can afford this stuff? I know we can't! What will our kids do in their generaton?
I remember reading something about the Gen X (I think they are all now late 20's 30 somethings) being the first generation to *not* necessarily do better than their parents. Prior to that, each successive did a little better than the one before.

It is sad, but, I think as I'minformed said is correctable with self-discipline.

I remember 14 years ago when I was talking to a mentor of mine and his wife about buying a home. I was 22, and I was "whining" about how it was so costly to buy a home (I wanted a little pity party). She quickly told me of how "they" bought their first home, while she and her husband were grad students *and* with a new baby. She said the apt they rented was so small the baby slept in a drawer of the chest . Her final statement is that "you can make happen what you *want* to happen..." I never forgot that, and changed my attitude about how to go about getting the down payment.
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Old 07-22-2006, 12:33 AM
 
Location: North Carolina
2,657 posts, read 4,965,924 times
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Quote:
Originally Posted by Grass Is Greener
Actually McMansions usually sit on a 1/3 acre lot, which makes them even more awkward.
Hee

For some reason, many of the McMansion dwellers want to mark their southern lifestyles by having these huge antebellum Taras - massive columns and all - located on an 80x100 foot lot. It doesn't give Miss Scarlett much room to hoist her crinolines and sweep down the lawn, like in "Gone With the Wind", and has to be one of the most absurd things I've ever seen in a homeplace
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Old 07-22-2006, 12:56 AM
 
1,126 posts, read 2,790,101 times
Reputation: 408
Quote:
Originally Posted by Miker2069
Interesting, the younger generation has access to more education, makes more than their parents, BUT largely find that they can't afford to own anything. I'm going to offer my fabulous opinion (which is worth about 2 cents ), the "older" generation was far more thrifty, budget, and savings conscience than the younger generation (I'm 36 so I think I still squeak in that category ). I've had this conversation with my father many times, and he often remarked "if I made the money you make now..." the things he could do. A few years back my wife and I did an analysis on the money went spent on eating out- needless to say our jaws hit the floor when we added it all up in a 6 months period.

Anyway just food for thought, I tend to be optimistic and highly believe in where there's a will there's a way...
I am also near your age and have same conversations too. Dad retired as a deputy. I saw his paycheck in 1980's He made $5hr!

As for eating out. I have quicken and it is scary. Per month I would bet it is $600+ a month. Kids are out on vacation, so eating out with wife at lunch just went up!
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Old 07-22-2006, 12:58 AM
 
1,126 posts, read 2,790,101 times
Reputation: 408
Quote:
Originally Posted by Miker2069
I remember reading something about the Gen X (I think they are all now late 20's 30 somethings) being the first generation to *not* necessarily do better than their parents. Prior to that, each successive did a little better than the one before.

It is sad, but, I think as I'minformed said is correctable with self-discipline.

I remember 14 years ago when I was talking to a mentor of mine and his wife about buying a home. I was 22, and I was "whining" about how it was so costly to buy a home (I wanted a little pity party). She quickly told me of how "they" bought their first home, while she and her husband were grad students *and* with a new baby. She said the apt they rented was so small the baby slept in a drawer of the chest . Her final statement is that "you can make happen what you *want* to happen..." I never forgot that, and changed my attitude about how to go about getting the down payment.
Were the generation no one wanted to spank and wanted us to express ourselfs. How did we work out America? Sounds like we didn't!
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