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Old 05-20-2015, 08:30 AM
 
5,265 posts, read 6,411,548 times
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I'm just a little bit older than the millenial generation, but every apartment I rented in DFW was in a better location with more amenities and much less work for only a little more money than my home. I'm pretty neutral on home ownership 5 years in, and if I didn't have kids, I'd ditch it in a heartbeat.
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Old 05-20-2015, 08:40 AM
 
1,167 posts, read 1,818,418 times
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Quote:
Originally Posted by RonnieinDallas View Post
I disagree with title. They aren't "balking" at buying, they simply cannot buy even if they want to

Quote:
Originally Posted by Rakin View Post
Many first time homeowners are having trouble getting into homes here in DFW because they 1. lack the cash to compete on offers and 2. Must go FHA with low down payments.
+1

I have many younger friends trying to buy their first home around now. I also actively buy/sell. If you are in the under 300k range, people will struggle cause cash offers are king and plentiful. However, they then simply move to the 400k+ houses and all is okay lol
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Old 05-20-2015, 08:43 AM
 
Location: Dallas, TX
2,825 posts, read 4,465,970 times
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60K average for late 20's early 30's is just crazy talk. The average income in DFW is below that, not to mention people just starting out in their careers. My wife(25 years old) makes low 30's, but her hours are extremely flexible, she has no degree and she gets to bring our kids with her to work. I (29) make considerably more than her with no college degree as well. I only have one other friend (33) that has a higher salary than I do, but I refereed him to his current position. This includes friends working in places like Chicago with a degree in finance, friends with MBAs, etc. I don't have any friends that have children at our age, and a few are married, but not all. We currently rent because our life was changing so rapidly, and we wanted the freedom to move should something come up in another city. Now with kids, we will be buying soon and settling down.

Last edited by bencronin04; 05-20-2015 at 09:17 AM..
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Old 05-20-2015, 08:46 AM
 
1,167 posts, read 1,818,418 times
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Quote:
Originally Posted by bencronin04 View Post
60K average for late 20's early 30's is just crazy talk. The average income in DFW is below that, not to mention people just starting out in their careers.
I disagree. All of my friends that I graduated with, along with family friends, along with my brother's friends graduating this month 2015, have a starting salary age 21/22 of around 70k

As a millennial myself (I guess people would consider me that), the average gross salary of most people I know reach 100k+ by age 30 easily, emphasis on easily
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Old 05-20-2015, 08:50 AM
 
Location: Dallas, TX
2,825 posts, read 4,465,970 times
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Quote:
Originally Posted by unknown00 View Post
I disagree. All of my friends that I graduated with, along with family friends, along with my brother's friends graduating this month 2015, have a starting salary age 21/22 of around 70k

As a millennial myself (I guess people would consider me that), the average gross salary of most people I know reach 100k+ by age 30 easily, emphasis on easily
That's fine, but I'm looking at data as well.

60K puts you in the top 10% of millennial income.

Wealth gap calculator: Are you in the millennial one percent? | Fusion

So either you're in an extraordinary group of people that are doing outstandingly well, or they are lying.
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Old 05-20-2015, 08:52 AM
 
Location: Frisco, TX
459 posts, read 1,745,040 times
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Quote:
Originally Posted by unknown00 View Post
I disagree. All of my friends that I graduated with, along with family friends, along with my brother's friends graduating this month 2015, have a starting salary age 21/22 of around 70k

As a millennial myself (I guess people would consider me that), the average gross salary of most people I know reach 100k+ by age 30 easily, emphasis on easily
As I mentioned in a previous post, I really think that this is dependent on industry. What exactly are these guys doing? Is this with undergraduate degree only, or do they have their masters? I'd venture to say it's more likely they could be in accounting with CPA, engineering, computer sci, etc. that are bringing in those type of salaries immediately upon graduation, which are certainly and likely the minority in terms of how many people go to college for those degrees. Those skills are also very in demand.

Prospects and salaries change dramatically when you consider what exactly the employee is doing. Someone with a masters in accounting with a CPA is going to have a vastly different starting salary than say someone that graduated with an arts degree and working as a teacher.

The millennial calculator is interesting. My $120K/year income is definitely more so than the 1%.
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Old 05-20-2015, 08:54 AM
 
Location: Dallas, TX
2,825 posts, read 4,465,970 times
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People tend to get extremely prideful, and honestly full of sh*t, when it comes to money. It is a very very strange thing.
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Old 05-20-2015, 08:58 AM
 
73 posts, read 102,732 times
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Quote:
Originally Posted by bencronin04 View Post
People tend to get extremely prideful, and honestly full of sh*t, when it comes to money. It is a very very strange thing.

Haha, I agree
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Old 05-20-2015, 09:00 AM
 
Location: Dallas, TX
2,825 posts, read 4,465,970 times
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Quote:
Originally Posted by dallas89 View Post
Haha, I agree
It's why we have so many millennials running around in 3 series BMWs(that are more than likely leased) and living with multiple room mates.
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Old 05-20-2015, 09:04 AM
 
73 posts, read 102,732 times
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Quote:
Originally Posted by bencronin04 View Post
It's why we have so many millennials running around in 3 series BMWs(that are more than likely leased) and living with multiple room mates.

Yes, there are many that fit into that category. I'm a millennial but I don't follow the crowd.
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