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It's not my job to provide statistics to support other peoples' anecdotal claims about the people they know.
I called people out for being innummerate and not having the capacity to look at or understand data, since we'd gone about a dozen pages with nothing but idiotic anecdotes about so-and-so's sister's daughter's friends' work ethic. I was told to "provide something." I provided something and now y'all are too lazy to even read it, claiming that reading an article you asked for is too much work for you.
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You make the claim, you provide the proof.
What claim did I make? That y'all are innumerate? I'm not sure that can be proven.
That says more to me about your socio-economic class than it does generational trends.
BS. Most of the adult kids have left the nest and have successful lives of their own, it's the remaining ones that the parents just let fester at home. One of the neighbors is wealthy enough that he let the "kid" stay in his home and bought a new one for himself. The dad supports both homes, the "kid" won't even rake the yard - leaves blow into mine. There's often the one kid who wants the house left to him/her and sticks around, like a tick.
BS. Most of the adult kids have left the nest and have successful lives of their own, it's the remaining ones that the parents just let fester at home. One of the neighbors is wealthy enough that he let the "kid" stay in his home and bought a new one for himself. The dad supports both homes, the "kid" won't even rake the yard - leaves blow into mine. There's often the one kid who wants the house left to him/her and sticks around, like a tick.
Yeah, again, these all sound like problems within your family and/or neighborhood. I mean we get it, there are social problems where you live. From what I gather, most people in this thread suffer from similar local socioeconomic problems.
Oh, don't get me wrong. Updates are needed. Windows, furnace/ AC , kitchen and bathrooms. If none of those are done you better be asking well under $100k.
When I was looking, I've literally stepped into a house that was asking $230k with stained carpets, holes in walls, literal rotting wood on the exterior, a SEER 10 hvac system installed 20-some years ago with no idea of when its last maintenance was, evidence of roof leaks (stained ceilings), etc. The type of counter tops in the kitchen was the last thing on my mind.
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Originally Posted by tamajane
If someone wants to get into a home for less, a wise route is buying something livable and fix it up as you go along - not necessarily right away. Most of the houses around me are owned by older people, some have been fixed up and some sort of, but they are all livable. None are total rehabs. They are mostly starter or down-size type homes. They may be the ONLY choice other than a condo to get into a single family home, and it's worth it as they will appreciate as you update them, or even if you do not.
Yeah. Around my area, it's fairly difficult to find a good starter home at a good price that could be progressively worked on. At least to be in a neighborhood where there isn't a crime happening every night.
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Originally Posted by ringwise
What? I live in a city that was founded in 1950, and every house in the city limits was built in either 1950-1951. They all still stand today, and would be considered starter homes. What they aren't is "flashy" and most millennials don't want anything to do with them.
My statement was expanded on a bit further on. It really depends on the area, especially in regards to local building codes. A lot of older homes in my area need substantial work to pass muster for selling or renting. For example, older houses with aluminum wiring because of being a fire hazard.
If a house is going to need a new HVAC or roof within 2-3 years (or both), it's not going to appeal to someone who would need to save up for 5 years just to afford the down payment and closing costs.
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Originally Posted by elan
Well, I do think it was easier to bring a house up to code 30 years ago. Rewiring, new plumbing, new roof, whatever, was usually one permit, one inspector and so on. Now days, it takes an army, too many regulations. Heaven forbid you find a speck or mold or a foot of asbestos tape.
Yeah, again, these all sound like problems within your family and/or neighborhood. I mean we get it, there are social problems where you live. From what I gather, most people in this thread suffer from similar local socioeconomic problems.
Oh that's cute. Lol. Which socioeconomic class would you be referring to here?
Yeah, again, these all sound like problems within your family and/or neighborhood. I mean we get it, there are social problems where you live.
It is so odd to live in a bubble where things only happen here -like a Twilight Zone episode. I am so happy to hear that I know the only slacker adult kids in the US, so relieved to know that it isn't really a documented widespread generational issue. Whew.
I sympathize with the OP. It must be so frustrating to graduate from college with debt, high housing costs and no health insurance. Things have definitely changed since the post-war economy in the 1950s.
But.
I would ask the OP to take a look at what the tax rates were back then. The super wealthy paid super taxes. The top tax rate was 91%. The corporate rate, without all the loopholes, was 52%. There was more money to be spent by the government on citizens and circulate in the economy.
As fewer people accumulated more wealth and kept it away from taxation, the country took a nosedive since the 1970s. There was less money in circulation among the middle class and more held by the supremely wealthy in overseas banks, expensive properties and treasury bills.
Think about how all this adds up to what millennials face today. Boomers didn't seize wealth, it was gradually taken away from our children's generation.
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