Millennials simply can't afford to live in OC (Orange, Mission Viejo: new house, property taxes)

[CaliRestoration]

Originally Posted by CA4Now

Ask the millennials who have advanced degrees and are baristas at Starbucks, driving for Uber, or bartending. There are more overeducated people in this age group than you might imagine.

Advanced degrees in Comp Lit or Gender Studies usually don't lead to lucrative options for employment.

[payutenyodagimas]

you have to choose the degree in which industries really need. right now, healthcare is and will be the biggest spending in the coming decades. so if one is smart, one should choose a course that will cater to that industry.


of course, as they say, there is always a room at the top. for those who are really good, that adage will always apply no matter what course or school they go to


but then just like the NBA, or other professional sports, most of us are just average so turn your sight where you have the biggest chance to earn big bucks

[expatCA]

Originally Posted by LuvSouthOC

It's the biggest fallacy and fraud ever to have been widely accepted as a truism. And we export this nonsense and run tv commercials with smiling third worlders studying and preparing for an amazing life. The truth is sobering. For example, Africa is filled with people with bachelors degrees and few opportunities other than a few NGO aid agencies or government work.

In OC, there are some good jobs but nothing like what the SV has. In any case, needless to say we have huge underemployment in OC. Young people need to go elsewhere for opportunities. If they can return to OC, it will be an accomplishment. They will learn that most of us had to sacrifice lots of pay to come to OC. It is a popular place.

While there are many advantages to a good degree, as in one where jobs are available, the idea that everyone should go to college is damaging those who cannot truly afford it, are not capable of making use of the knowledge they gain, pick lousy courses, just want to party (a lot of students), think they will make big bucks just having any degree and a host of other issues. AS a result jobs that do not require a college degree, service jobs such a plumbing, etc, are not being filled yet they do make very good money as someone still needs to fix plumbing. Ditto auto mechanics and similar where at most a trade school, usually 2 years) would benefit them.

I live in a rural area right now in Tn and the gardeners are making $40 to $90 an hour plus extra when they do special work, plant new plants, bring in new mulch, trim trees, etc. One gardener my neighbor uses, makes the $90.00 an hour or ..... over $187,000 a year. Yes they do work less in the Winter but they also do a lot of tree trimming, and other items homes need. The months needed for just mowing and edging are about 8 months out of the year so his income if he did nothing for 4 months would be ...over $124,000.00. Mechanics are making $50.00 to $75.00 an hour easily. This includes doing work on a car at a persons home, which is really popular and I use a mechanic to do that on projects I cannot do. Saves a ton of money over shop prices and dealerships and the guy who come by still is making very good money and can work year round.

Too many in CA look down on manual work and their kids grow up with that attitude and end up with a degree, debt and a pay check from Starbucks.

[CaliRestoration]

Originally Posted by cdsds

People with a college degree earn on average earn more in their lifetime than those with just a H.S. diploma. People with master's earn on average more in their lifetime than just a bachelor's. People with doctorates earn on average more in their lifetime than those with just a master's. These are all true statements.

"Averages" are a terrible way of making a statistical argument.

For instance:

PhD in Computer Science working at Google doing Big Data - Salary: $250,000/year

PhD in Gender Studies working as a part-time instructor - Salary: $25,000/year

The AVERAGE between these two would be $137,500 which is misleading.

Find the averages between fields of study and I am willing to bet you will find certain fields of study are heavily loaded with high paying employment while other fields of study are loaded with high unemployment or low annual salaries.

[expatCA]

Originally Posted by cdsds

People with a college degree earn on average earn more in their lifetime than those with just a H.S. diploma. People with master's earn on average more in their lifetime than just a bachelor's. People with doctorates earn on average more in their lifetime than those with just a master's. These are all true statements.

Yes, but not true for every degree holder. In fact many got degrees later in life after working and making enough not to have college debt, which impacts their overall net income. I have no degree and I am a millionaire and only graduated from HS. Just took effort, hard work and some intelligent decisions and I learned everything I needed by ... reading the appropriate books. No college debt. No debt at all.

Earning a LOT of money is over rated when it comes to a decent life. Yes to live in SoCal or the Bay area, you need more money. But in the vast majority of the areas of the US, and many are really nice, it isn't necessary.

I live in a beautiful area and I know older people living very well on only their Social Security and not at maximum either and they made a LOT less when working than people do today. Both in mobile homes and nice SFH homes they were able to buy when working. Most younger people either rent or own after a while and on a normal salary. One I know gets minimum SS and works 16 hours a week and does just fine and in a beautiful area near the foot of the Smokey's. I am not denigrating a college education, just the idea it is good for and needed by everyone, when it isn't. Too much focus on money and partying and not enough on living a decent life.

Hard working Millennials can live in CA, but it is likely the majority cannot. So what? Not everyone can live in NYC, Paris, London and other popular cities/areas. That is normal.

[CaliRestoration]

Originally Posted by cdsds

If I had all of the data I wanted available, I would be more than happy to do further analysis and slice it any way you choose. But I don't so I will use the data I do have.


Do I think that college is for everyone? Nope. Do I think the Fed should be giving out student loans to any applicants like candy? Nope. Do I think college is worth $50k a year? It depends.


Señor Restoración, would you care to take the other side of the argument, that it is in someone's best interest to not go to college? I can assure you that statistically speaking the average kid that graduates from a "real" college (I'm not talking about University of Phoenix or a for-profit school) in 2018 will be far more likely to succeed in life than the average kid who graduated from HS in 2014 and never applied to college.

I think it all depends. If someone says I'm going to college to study gender studies and become a part-time instructor at a Community College, or go to a technical school and do a program for welding, then I'd say skipping college and becoming a welder would yield the best annual wage.

I don't like to talk in "generalities" because in business, the market, the economy, the world, you can't compact things into generalities and expect to be successful.

[LuvSouthOC]

Millennials have finally stopped eating out! What, no more fancy meals out on the town while living with mom/pop in the basement? On the other hand, maybe they now need to pay for housing/rent in OC, and, yes, as we know, it's expensive.

Look on the graph provided. Gen X goes out the least. We are too busy paying bills and investing like crazy.


Millennials lose taste for dining out, get blamed for puzzling restaurant trend

Millennials have been tempering their spending at restaurants more than any other age group.

Bank of America Merrill Lynch economists studied restaurant spending, a component in retail sales, ahead of the release of October sales data Wednesday.

Slowing restaurant sales often come with a recessionary environment, but the economists say this slowdown may signal a change in lifestyle as millennials get older.

https://www.cnbc.com/2017/11/14/mill...ining-out.html

[expatCA]

Originally Posted by CaliRestoration

"Averages" are a terrible way of making a statistical argument.

For instance:

PhD in Computer Science working at Google doing Big Data - Salary: $250,000/year

PhD in Gender Studies working as a part-time instructor - Salary: $25,000/year

The AVERAGE between these two would be $137,500 which is misleading.

Find the averages between fields of study and I am willing to bet you will find certain fields of study are heavily loaded with high paying employment while other fields of study are loaded with high unemployment or low annual salaries.

Very true.

[GSR13]

Originally Posted by LuvSouthOC

It's a loss because the millennials take their resources and future resources (which will be significant) and help grow the economy elsewhere. If they have jobs in OC, that's even more resources being drained.

These people can barely tie their shoes. I seriously doubt the significance of their future resources. They'll be squeezed out by Gens X and Z.

[GSR13]

Originally Posted by expatCA

Why is it a loss since some millennial's do live there and are buying there? There is no room for all of them.

Remember that Millennials started to be born in the early 80's so the oldest is in their 30's and even in the past most people that age and younger could could not buy in a popular area. Many Boomers could buy in OC at that age because it was not as popular, had a LOT of open land and housing prices were not like they are now. Is it harder, yes, but that is simply life. Once upon a time it was easy to buy a house on the beach in SoCal but not any more.

Lol, this is "simply life" in a Boomerworld where no one gives a damn about the subsequent generations.