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Old 12-25-2019, 09:19 AM
 
9,608 posts, read 4,215,898 times
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Quote:
Originally Posted by Lycanmaster View Post
Millenials certainly aren't buying houses or investing in stocks/bonds to the same degree than the Boomers have.

Not even close.
I've read that. Is that conclusion at the same ages?
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Old 12-25-2019, 09:29 AM
 
1,998 posts, read 491,139 times
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Quote:
Originally Posted by Hoonose View Post
I've read that. Is that conclusion at the same ages?
The biggest reason why millennials are delaying purchasing homes and having children is student loan debt. No other previous generation has ever faced the proportional starting debt load that millennials face/faced. And because of this debt load they are not into the "traditional" forms of consumerism, and will probably never be. Your average millennial has a totally different mindset than your average Boomer.
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Old 12-25-2019, 10:24 AM
 
3,645 posts, read 1,003,759 times
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Quote:
Originally Posted by heart84 View Post
The biggest reason why millennials are delaying purchasing homes and having children is student loan debt.
Which means they overpaid for college.
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Old 12-25-2019, 12:08 PM
 
1,998 posts, read 491,139 times
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Quote:
Originally Posted by RationalExpectations View Post
Which means they overpaid for college.
Correct. And the government has inflated the price of college by backing loans of worthless degree tracks enabling colleges to raise prices at will. Many colleges let just about anyone in these days again because the government has their back on the loans.
Gravy train for the higher ed system. Additionally, colleges are not held accountable for defaults on loans or for offering quality degree tracks that actually have value in the job marketplace. $75K degree in Russian gender studies that will yield a $12 an hour job after graduation - no problem, the government has your back on the loan. And not to worry about this malinvestment because eventually when it hits full crisis mode, the middle class taxpayer will have your back!

Get the government out of the student loan business and start holding colleges more accountable and higher education prices will drop overnight. Colleges will become MUCH more selective in who they admit and private lenders will think twice about backing those worthless degree tracks. Immediate fix.
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Old 12-25-2019, 12:13 PM
 
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Many local colleges are very reasonably priced ...kids just want to blow a fortune going to out of town schools , not living at home and getting useless degrees
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Old 12-25-2019, 02:06 PM
 
7,656 posts, read 3,367,239 times
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Quote:
Originally Posted by mathjak107 View Post
Many local colleges are very reasonably priced ...kids just want to blow a fortune going to out of town schools , not living at home and getting useless degrees
That used to be the case but more recently there are more and more engineers and scientists under employed or low balled on salery due to abundance of offshoring and h1x visas.

This is the same narrative that’s been peddled the last 10-15 years but more and more hard skill people are falling into this boat and so your narrative is slowly carrying less weight.
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Old 12-25-2019, 05:00 PM
 
10,963 posts, read 12,940,369 times
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Quote:
Originally Posted by mathjak107 View Post
Many local colleges are very reasonably priced ...kids just want to blow a fortune going to out of town schools , not living at home and getting useless degrees
College has turned into fun/entertainment more than actual education!

A neighbor's kid attended "Ole Miss" because it was a top SEC school. His comment caught me off guard (he didn't play sports!). When I asked why Ole Miss as Mississippi isn't exactly the epicenter of higher education. He threw the SEC line out and explained they had a good game schedule.........Needless to say he lasted 2 semesters and transferred to a local school.

Why would the parents take this goofball seriously? He spent their money foolishly and they didn't even ask why?

My theory on education? Go to the school that is the best bang for the buck for your undergrad. Get something figured out before you move up the education ladder and get stuck with 200K in loans for a 17th century literature degree and you can't get more than a part time barista job.......
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Old 12-25-2019, 05:05 PM
 
10,963 posts, read 12,940,369 times
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Quote:
Originally Posted by heart84 View Post
The biggest reason why millennials are delaying purchasing homes and having children is student loan debt. No other previous generation has ever faced the proportional starting debt load that millennials face/faced. And because of this debt load they are not into the "traditional" forms of consumerism, and will probably never be. Your average millennial has a totally different mindset than your average Boomer.
Debt/low wages and the "living at home well past college years" makes home ownership a pipe dream.

I have 2 siblings that are mid 40's and both have lost homes to foreclosure with ZERO chance of them buying anything in the next 10-15 years. Both divorced, both have kids (5 total) and ZERO saved for college for the kids. All of those kids will be in college in the next 10-15 years which is why they will be eternal renters. As a side note, both have significant student loans.
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Old 12-26-2019, 01:53 AM
 
7,656 posts, read 3,367,239 times
Reputation: 4889
Quote:
Originally Posted by heart84 View Post
Correct. And the government has inflated the price of college by backing loans of worthless degree tracks enabling colleges to raise prices at will. Many colleges let just about anyone in these days again because the government has their back on the loans.
Gravy train for the higher ed system. Additionally, colleges are not held accountable for defaults on loans or for offering quality degree tracks that actually have value in the job marketplace. $75K degree in Russian gender studies that will yield a $12 an hour job after graduation - no problem, the government has your back on the loan. And not to worry about this malinvestment because eventually when it hits full crisis mode, the middle class taxpayer will have your back!

Get the government out of the student loan business and start holding colleges more accountable and higher education prices will drop overnight. Colleges will become MUCH more selective in who they admit and private lenders will think twice about backing those worthless degree tracks. Immediate fix.
Engineers are starting to struggle as well and have been struggling for some time now. So should we call engineering degrees fu fu degrees too?

Stop backing student loans will rein in the debt issues but wont address the wage stagnation issues which are really at the heart of the issue of young people living at home for a LONG time and the ones that cant end up homeless or living out of their cars, or living check to check, in some undesirable living situation, etc.

That wont be solved with student loan reform alone.

Also people are starting to catch on that its not just under water basket weaving degrees that are getting burned. Engineering has been getting a brutal beat down for the last 20 years, unless you happen to have a very specific niche of engineering at specific times its not that great of a degree.
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Old 12-26-2019, 02:44 AM
 
75,653 posts, read 75,072,635 times
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Quote:
Originally Posted by pittsflyer View Post
That used to be the case but more recently there are more and more engineers and scientists under employed or low balled on salery due to abundance of offshoring and h1x visas.

This is the same narrative that’s been peddled the last 10-15 years but more and more hard skill people are falling into this boat and so your narrative is slowly carrying less weight.
like i said , making money is about doing the things others can't or won't . those that excel at being creative or adaptive will do fine . those who can't or won't will not do to well and will just find all sorts of excuses . others float like a cork in water to wherever they land .

most americans are lazy . they only want to do what they do which for most is nothing since it is the path of least resistance , no attempt at anything new or morphing
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