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Old 06-16-2017, 01:30 PM
 
12,495 posts, read 7,595,879 times
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Quote:
Originally Posted by timberline742 View Post
You do understand this 50s-70s boom was an unprecedented and artificial boom that was never sustainable and should never have occurred in the first place, right?
I absolutely do and you are 100% correct. The boom was the result of the artificial monopoly created by all other major economies of the world, except ours, being destroyed in the theater of WWII, leaving the USA the largest net exporter and creditor in the world.
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Old 06-16-2017, 01:33 PM
 
Location: RI, MA, VT, WI, IL, CA, IN (that one sucked), KY
37,918 posts, read 27,273,225 times
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Quote:
Originally Posted by Indentured Servant View Post
I absolutely do and you are 100% correct. The boom was the result of the artificial monopoly created by all other major economies of the world, except ours, being destroyed in the theater of WWII, leaving the USA the largest net exporter and creditor in the world.


Destroyed or walled off, yup.


I wish people wouldn't long for these days and hold them at a realistic ideal .


The more realistic situation through is two people working sun up to sun down to try to survive and raise a couple of kids.
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Old 06-16-2017, 01:53 PM
 
Location: Chicago
939 posts, read 843,762 times
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Quote:
Originally Posted by Indentured Servant View Post
Its easy to find stuff by googling it. Nearly half of college grads are underemployed. But they
Yeah, this doesn't seem to account for the fact that many college grads are now 50-something late career types with maxed out incomes.

For the record, the average income for a 25-34 year old with a bachelors degree is $49,900. For a high school grad it is $30,000. Source: https://nces.ed.gov/fastfacts/display.asp?id=77

This would follow logically from a $39k average income overall, the average 29 year old is a college dropout and not easily fit into either category.

It is somewhat doubtful that the average degree holder in 2017 will earn nearly $70k in personal income in the future, either... there are simply too many degree holders and the trend in wages is not positive. This would result in a whole host of individual college grads (~40% of 25-34 year olds have college degrees) earning more than the current average household income individually.
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Old 06-17-2017, 11:02 AM
 
8 posts, read 7,913 times
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Quote:
Originally Posted by nv529 View Post
Millennial here (32 yrs old), there's tons of homes in the inner ring suburbs going for less than $200k. Just take a quick look on Zillow. I'm not buying into BS. The problem is most 20-30 yr first time buyers want the South Lyon new construction for garden city prices, it's not going to happen.
On the button. Nobody wants to "earn their way up" anymore. Millennials want the status and premier suburb NOW (and let's be honest, they want the guaranteed home value appreciation that comes with it).

I can't blame them though. Michigan's economy is dicey long-term, many municipalities are corrupt, pensions underfunded taxes out of control, & most public school districts here downright suck.

Very few communities in Michigan I'd bet on being a safe and stable longterm investment - South Lyon, Brighton, Ann Arbor, Clarkston, et al.
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Old 06-17-2017, 11:05 AM
 
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I was just in Oxford the other day, looked like a lot of sprawl new build boom going on there.
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Old 06-19-2017, 04:35 AM
Yac
 
6,017 posts, read 6,737,732 times
The only reason I'm not closing this thread for being off topic (as it's not really Detroit specific, is it ?) is the fact that the discussion is somewhat civil. Please keep it that way.
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Old 06-19-2017, 06:38 AM
 
Location: Metro Detroit
1,786 posts, read 1,932,106 times
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Thanks Yac - I know I'm not supposed to comment on this, but I really appreciate when civil and interesting topics are allowed to stay open when they inspire interesting discussion.

Anyway, 248shrink - most millennials can't afford to build a $600,000 home in Northville or Ann Arbor, so I don't know why you think that's a thing for regular people who didn't come attached to a trust fund. When we move to towns like those, we're living with roommates in an apartment. South Lyon and Clarkston are still affordableish to high-earners, but most young people aren't interested in a 60 minute commute or dining at Applebees and TGIFridays. Those towns will continue to experience growth, as there's always a market for "new", but the whole point of the parent article was to highlight that exurban "new home" growth in far-out towns like these is a snail's pace compared to the early 2000s. It will remain this way because of the large number of redevelopments occurring inside the city and inner-ring burbs.

You're right, I don't plan on "earning my way up", so I bought in a beautiful inner-ring burb that if I choose to - I can stay in my entire life. Also, no Applebees - only local-owned artisan food and a plethora of quirky pubs and pizza joints, all of which we can walk to. Should we stay in SE Michigan until retirement we could do so in this home, or we could build something new right in town as redevelopment >>> new development. And the area I'm in is, in my opinion, just as "premier" as anything you've mentioned - and certainly more stable as it's already aged and weathered a number of recessions. However, far more likely than this is the idea that 5-10 years from now we'll be off to the next big adventure, at which point I'll be happy that during the decade or so I spent in Detroit, I actually saw/visited/experienced and lived near Detroit, rather than experiencing bland American suburbia on a former-orchard-turned-cookie-cutter-subdivision, 50 miles from the city. I mean c'mon man, with as much crap as I give Troy and Livonia on these boards for being "sleepy", I'd take Troy and Livonia over Clarkston and Brighton, any day of the week!
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Old 06-19-2017, 01:02 PM
 
12,825 posts, read 20,823,703 times
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Quote:
Originally Posted by brodie734 View Post
Yeah, the funny thing about it is that nobody ever questioned a baby boomer who wanted to major in English or Philosophy. They might not have ever worked in their field, but they generally got decent jobs in middle management because degrees were prestigious. Being an engineer requires math aptitude that the average person will not have... if we all did, engineering would pay the same as working behind the register at Kroger.

The truth is that baby boomers went off and did whatever they wanted, rode more positive economic headwinds to prosperity, worked hard to pull the ladder out from the next generation via get rich quick schemes writ large, told their kids a lot of lies about following their dreams, and then shamed their kids for doing just that when they emerged into the world that had been created.

Also: everyone I know who chose to major in "useless" subjects in college were the children of upper middle class to wealthy parents. I feel like there is a high correlation between the children of doctors and lawyers and engineers and choosing to major in anthropology at an expensive liberal arts college.
A BA in Basket Weaving can be the foundation of an MBA. Just saying.
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Old 06-19-2017, 01:05 PM
 
12,825 posts, read 20,823,703 times
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Quote:
Originally Posted by mgkeith View Post
A lot of us baby boomers worked hard, period, and made certain that our children did the same. When we graduated from college in the late '70's, the economy was taking a dump. As first in the family college grads, we had worked toward useful degrees because we knew that we had to, in order to find gainful employment. So jobs weren't hard to come by. Our parents, who grew up during the Depression, were not going to support us after college. We knew that we would be on our own to sink or swim.

Don't blame everything on Mom and Dad.
You might have had a hard road as new grads but just a few years later, an entirely different story, unless one was deep into one of the declining industries. But for every one of those there were a few growth stories in other industries.
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Old 06-19-2017, 01:25 PM
 
Location: Southeast Michigan
1,283 posts, read 1,073,411 times
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Quote:
Originally Posted by BayAreaHillbilly View Post
You might have had a hard road as new grads but just a few years later, an entirely different story, unless one was deep into one of the declining industries. But for every one of those there were a few growth stories in other industries.

We didn't consider ourselves as having a hard time at all, and still don't. We just accepted things for what they were and did our best. Never expected something for nothing. That's what most generations have always done.
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