Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Closed Thread Start New Thread
 
Old 05-03-2016, 01:23 PM
 
5,342 posts, read 6,146,204 times
Reputation: 4719

Advertisements

Quote:
Originally Posted by King Harold View Post
it doesn't really matter what you and your friends do, statistics say otherwise. Most millennials under age 32 have negative net worth and less than $3000 in their bank account.
So, you didn't define hardly any. Show me the data you are referencing. Also, none of the stats you referenced would have anything to do with not being able to afford a 30k home. I know plenty of millennials that have negative net worths that are also home owners. None of them own 30k homes. They are far more expensive than that.

Perhaps, it's that millennials don't want to own at the young ages that our parents did. I didn't even settle down in a city/town until I was 29. I worked and lived in 4 different cities between the ages of 22 & 29 before I settled in my 5th city. I didn't even contemplate owning until I was almost 30, it had nothing to do with not being able to afford it. On the other end I had a buddy that got into the trades straight out of HS and had his first home by 19. Would it make sense to compare us to one another?

 
Old 05-03-2016, 01:32 PM
 
106,160 posts, read 108,140,134 times
Reputation: 79707
our kids first just bought homes in their lates 30's , not because they couldn't afford them but because without kids they felt they did not need the high expenses of homes yet .

except for my daughter who bought a co-op in queens all the kids found it far cheaper to rent then buy before they wanted to buy
 
Old 05-03-2016, 02:17 PM
 
7,898 posts, read 7,088,773 times
Reputation: 18587
My daughter bought and sold a condo for similar reasons. She made some profits but did not want to be tied down in a volatile housing market (the Bay Area). She is renting cheap and may eventual move on to a different job and in another part of the country.
 
Old 05-03-2016, 02:22 PM
 
6,822 posts, read 6,612,614 times
Reputation: 3769
Quote:
Originally Posted by mathjak107 View Post
i am just sick of this age old debate about who had it easier .
It's not about who had it easier.

It's about how years of ignorance and many other things have gotten us to where we are today.

The Millennials need a very large shovel to dig us out of the whole we are stuck in.

This nation was the most powerful on the planet. That shipped has sailed.
 
Old 05-03-2016, 02:26 PM
 
6,822 posts, read 6,612,614 times
Reputation: 3769
Quote:
Originally Posted by mathjak107 View Post
perhaps instead of whining they need to be more creative and aggressive in earning an income .
Yes because we are whining and not making an aggressive effort to survive in this economy. << sarcasm

Ever been pushed while you were down?

I'm just saying it how it is. People have their heads in the sand.

Turn on the news channel so we can see what the polls are so people can tell us who to vote for.

Twiddly dee or Twiddly dumm
 
Old 05-03-2016, 02:31 PM
 
6,822 posts, read 6,612,614 times
Reputation: 3769
Quote:
Originally Posted by mathjak107 View Post
great , i hope we take all their social security money too ha ha ha .

it is called paying your dues the same as all the generations before you .

my great grand father got dumped in to the great depression , my dad was a great depression baby and was thrown in to world war II with all its ills .

i got blessed with the 1970's .

now its your turn to pay your dues .
Here's the entitlement mindset.

The reality is there will be no social program for the younger generations. While we pay your retirement and healthcare we will have none for ourselves.

Medicare and Social Security are known failing social programs. They just do not work. This has been known for years, but nothing has been done.

The whole concept of retirement as it is now setup is an entirely new concept in this world. It will not be there for the Millenials unless they were smart and ended up with real hard assets.

That's ok the kids will take care of it. Things are looking REALLY rough down the road.
 
Old 05-03-2016, 02:39 PM
 
6,822 posts, read 6,612,614 times
Reputation: 3769
Quote:
Originally Posted by eyeb View Post
And what is reality? Some not being able to afford it doesn't mean their reality is the correct one when there are others who can afford it. i see a lot of people using "reality" as an argument, but they won't face the reality that they are just poor and keep trying to live like they aren't.

I agree that home ownership is down, but i disagree that it being unaffordable is the reason. people tend to job hop these days, buying a home requires longer term commitment to an area. when people aren't choosing to stay in the area, why would they buy a house? What use is a home even if prices did crash by 1/2 or something extreme if they will move away in 5 or so years? it's just rare that millennials decide to stay in the same area for 15+ years into the future.

for the future, if people continue to be so mobile. I could see those "time-share" condo groups just selling memberships. you pay $x and you can live in any of our properties throughout the country depending on where your next job is. no longer will you need to search for new apartments in each place, you just call up company and tell them where you are heading. the healthcare traveling jobs do this today, and it is pretty nice not having to find a place on your own sometimes. Welcome to AurHomes is an example of corporate housing for their workers.
Why are they hoping jobs? Do you know it's because of some type of character flaw on their part? Or could it possibly be that they were laid off, not enough hours, etc. There are plenty of part-time jobs listed in the administrations "Job Creation". The problem is they don't pay the bills or provide health insurance.

The environment economically is not stable to be buying homes. Being able to move if needed is a necessity.

I agree the market needs to adjust to the current needs, so why I wonder is that not happening. Why are homes in this area so freaking expensive to purchase in my little depressed economy?

I have no idea. The properties are just sitting there for years with people trying to sell. The reason they can't is simple, people can't afford it.

"Reality" is something that doesn't take up more than a third of a paycheck for simply the mortgage.
 
Old 05-03-2016, 02:53 PM
 
106,160 posts, read 108,140,134 times
Reputation: 79707
Quote:
Originally Posted by Mikelee81 View Post
It's not about who had it easier.

It's about how years of ignorance and many other things have gotten us to where we are today.

The Millennials need a very large shovel to dig us out of the whole we are stuck in.

This nation was the most powerful on the planet. That shipped has sailed.
blame your politicians not groups of people who had no choice but to be dragged along for the ride .

i have been working and investing my entire working life .

every day for decades , i got up , put on my pants and drove to work . nothing ever changed for me regardless of who was in power .

ultimately i was responsible for everything good or bad in my life and so were millions of other boomers .


i take it personal when the word boomer is attacked for whatever reason as like you and the generations before us good or bad we all were dragged along for the same ride and had to fend for ourselves
 
Old 05-03-2016, 02:57 PM
 
8,005 posts, read 7,162,737 times
Reputation: 18165
Quote:
Originally Posted by Mikelee81 View Post
Why are they hoping jobs? Do you know it's because of some type of character flaw on their part? Or could it possibly be that they were laid off, not enough hours, etc. There are plenty of part-time jobs listed in the administrations "Job Creation". The problem is they don't pay the bills or provide health insurance.

The environment economically is not stable to be buying homes. Being able to move if needed is a necessity.


I agree the market needs to adjust to the current needs, so why I wonder is that not happening. Why are homes in this area so freaking expensive to purchase in my little depressed economy?

I have no idea. The properties are just sitting there for years with people trying to sell. The reason they can't is simple, people can't afford it.

"Reality" is something that doesn't take up more than a third of a paycheck for simply the mortgage.
At least you're not being drafted, yanked out of your life and forced to serve in a foreign war you don't understand. Whether or not you can buy a house is a poor measure of economic temperature. Rent now if that makes sense and buy when it makes sense. The "American dream" of owning a house is the most successful marketing (brain-washing) campaign of the last 50 years. Opportunity exists if you're willing.
 
Old 05-03-2016, 03:16 PM
 
6,822 posts, read 6,612,614 times
Reputation: 3769
Quote:
Originally Posted by mathjak107 View Post
blame your politicians not groups of people who had no choice but to be dragged along for the ride .

i have been working and investing my entire working life .

every day for decades , i got up , put on my pants and drove to work . nothing ever changed for me regardless of who was in power .

ultimately i was responsible for everything good or bad in my life and so were millions of other boomers .


i take it personal when the word boomer is attacked for whatever reason as like you and the generations before us good or bad we all were dragged along for the same ride and had to fend for ourselves
Of course you the people had a choice and were in a good position to do something. The boomers are a HUGE population. People just chose not to do anything and go along with the ride of things. There used to be an independent media in this country that worked to inform the public, especially regarding corrupt politics. These things are dead now. People try to start up get squashed like bugs. People still sitting in front of their TVs watching CNN. FOX, etc.. << they're different only in name. supporting the existence of these outlets instead of exposing them and shutting them down. The problem of apathy and ignorance is still at large today.

The only problem is today we are in a little more of a disadvantage. This monster is so big, it seems almost impossible to stop it. People are still sleeping at the wheel.


America as we knew it will be no more in 5 to 10 years time. I have no idea what to expect, but this nation has been in a free fall now for decades without any real action to solve some of the biggest problems. I'm thankful I do not have children.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Closed Thread


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top