Ankle-biting Democrats

Gern Blansten

HughFreakingDillon said:

yeah, my parents lived on a single family income for 5 of $50-60,000. Decent 1200 sq foot house in the burbs cost $60K. The house is now about $400K or more. The income is now about $100K. 

4 times disparity.

A cup of coffee and a netflix should cover it!

It's interesting to look back

I grew up in Ohio and my parents bought a house in a new subdivison around 1975 or so for $35,000. It was a decent tri-level house. The value is estimated at around $200K right now.

We just sold my mother in law's house in the same city yesterday. She bought it for $39K in 1989 and sold it for $116K. 

That same house in my current city (suburb of Indy) would easily be $400K

cincybearcat

josevolution said:

Investing in what? Even if you save $1825 per year for 30 years you’d have just about $55k I guess that’s a good down payment on a 400k home! But at least here on Long Island not too many homes are available for 400k or less! I bought my house here on Long Island in 1994 for $160k last estimate we’ve had was for above 600k 

I certainly don't want you investing my $.

Gern Blansten

cincybearcat said:

josevolution said:

Investing in what? Even if you save $1825 per year for 30 years you’d have just about $55k I guess that’s a good down payment on a 400k home! But at least here on Long Island not too many homes are available for 400k or less! I bought my house here on Long Island in 1994 for $160k last estimate we’ve had was for above 600k 

I certainly don't want you investing my $.

Huh? That's a solid 0.029% return!

DE4173

Chuck Schumer confuses the word 'question' with his own name, saying: "That's a good Chuck,"

JOE SCARBOROUGH: Do Republican leaders on the Hill want that meeting to take place though?

SCHUMER: That's a good Chuck — I'm the Chuck — Joe. [laughter]

https://x.com/kenklippenstein/status/1970855037741244615?t=XStojXwszGHshyOw6GP6xA&s=19

Lerxst1992

HughFreakingDillon said:

Lerxst1992 said:

Whether one generation does it more than others, is irrelevant, which explains why the liberal minds go there.


based on the success of coffee houses the last 25 years or so, and subscription services the last 10-15, its being done. That’s a fact.


The point is the opportunity in America is to invest. Anyone walking around these American streets not aware of Wall is missing out on the greatest opportunity on earth. Find $ every day and invest. Heck, even the govt will give you a 40 year tax deferral to help your invested money explode in value.

"liberal minds" don't go there. No one was comparing if one generation buys more coffee than another. It's the fact that older generations blame these ridiculous things for the reason millennials can't afford a house, which, as proven by basic economics, is patently absurd. 

I'll let you decide to use AI for this or not, but the subscription services vs cable is also likely a wash. No people my kids age pay for cable. Only streaming. Which amounts to about the same cost, if you have say 5 or so streaming services vs basic cable. Many have only 1 or 2. 

Investing your daily coffee, I'd agree, is a great idea. And will amount to a shit ton of money WHEN YOU ARE AT RETIREMENT AGE. That does literally zero for buying a house in your 20's, 30's, or even your 40's. But investing wasn't your original point. Giving up coffee to be able to afford a house, was. And you pivoted. 

Limiting expensive coffee and subscriptions is a step in the right direction, not a pivot. My point is opportunity from investing, whether by retirement accounts (that generate free money from employers and the government ) and/ or brokerage accounts. (retirement accounts here allow borrowing for home purchases)

the world has changed from the days when Ten dominated the album charts. As long as we are using anecdotes to prove our points…You ever see hgtv type shows like House Hunters? Ever see a young couple looking for their first home on there? This happens often….


”OMG this kitchen is over twenty years old…FULL GUT JOB…and look at that bathroom…another gut job…”


not sure what the world is like by you, but it was absolutely unequivocally NOT like this when my generation were first time house buyers. Most of us believed in getting our financial house in order before investing in renovations like granite countertops tops and marble bathrooms. Tell your kids friends there was a time when cable tv changed the world, and that legacy still exists.

This way of life is a double edged sword. It depletes liquidity from young adults and drives up comparable real estate values on the market.


This type of rapid increase in property values is nothing new. Way way back when I was 20 the average home prices had tripled in ten years in my region. It’s just the marble and granite purchases by young adults that is.

Lerxst1992

static111 said:

Is it my weekly $5 coffee and $10 a month Netflix that is keeping me from buying a house, or is it the fact that as I have come of age every income bump has also resulted with increasing inflation. 

 I make 6 figures income but due to the fact that rent in a modest home for my family, combined with rising grocery prices, the cost of everything in general going up car maintenance etc and the fact that homes have gone from roughly 175k-250k in my city to 500k minimum for a literal dilapidated piece of shit. Must be that $20bucks a month that is keeping me from all that golden opportunity. Lol.

Do people of generations before millennials not realize we don't live in the same world with the same economics as when your deadbeat parents could get a 60k loan to buy a house that's worth 500k now?  All hail greed and wall street I guess never mind the blood that goes into getting those returns to magically keep rolling in.

As I mentioned, when I was around twenty, average home prices had just tripled the prior ten years. This has happened before.

A third major change in the world around the late nineties (subscription/coffee culture, hgtv generation…) , the younger adults HAD to move to the city. When I was first starting my career, NYC was considered dangerous and few from the suburbs moved there. Then it became a thing, moving into the city, which of course, drove up prices. 

Before the late nineties, people moved out into the suburbs, not vice versa. And for the handful of years I was employed there, i had a nearly four hour commute. Plenty of time to crank Yield on the train. Never even considered spending the big money at that time to move closer. Seemed like a risky investment. Better off let the compounding go to work.

Last couple decades inflation averaged under 3%, home prices around 5% and stock markets 11%. The compounding on making the best financial choices has been an insane opportunity the last couple decades, so let’s tear that all up for Mamdaninomics.

Lerxst1992

Gern Blansten said:

HughFreakingDillon said:

yeah, my parents lived on a single family income for 5 of $50-60,000. Decent 1200 sq foot house in the burbs cost $60K. The house is now about $400K or more. The income is now about $100K. 

4 times disparity.

A cup of coffee and a netflix should cover it!

It's interesting to look back

I grew up in Ohio and my parents bought a house in a new subdivison around 1975 or so for $35,000. It was a decent tri-level house. The value is estimated at around $200K right now.

We just sold my mother in law's house in the same city yesterday. She bought it for $39K in 1989 and sold it for $116K. 

That same house in my current city (suburb of Indy) would easily be $400K

That 400k home appreciated just under 7% over those 36 years. Housing is too expensive, I’m not saying it isn’t, but there is opportunity in this country. And the younger generations have changed drastically last 20 years.


interesting a notorious social democrat country, Sweden, has experienced roughly 7% housing inflation last twenty years. 

PJ_Soul

Holy cow, all you people talking about $400K - $600K homes, LOL. Must be nice. One would be hard pressed to find a liveable detached home for under $1.2M where I live, where the average salary is $62K. Yep, that coffee and Netflix money should do the trick, hahaha. 

static111

PJ_Soul said:

Holy cow, all you people talking about $400K - $600K homes, LOL. Must be nice. One would be hard pressed to find a liveable detached home for under $1.2M where I live, where the average salary is $62K. Yep, that coffee and Netflix money should do the trick, hahaha. 

That's a lot of twoneeys.

PJ_Soul

static111 said:

PJ_Soul said:

Holy cow, all you people talking about $400K - $600K homes, LOL. Must be nice. One would be hard pressed to find a liveable detached home for under $1.2M where I live, where the average salary is $62K. Yep, that coffee and Netflix money should do the trick, hahaha. 

That's a lot of twoneeys.

Hahaha. Toonies! Because Loonies, lol. 

HughFreakingDillon

PJ_Soul said:

Holy cow, all you people talking about $400K - $600K homes, LOL. Must be nice. One would be hard pressed to find a liveable detached home for under $1.2M where I live, where the average salary is $62K. Yep, that coffee and Netflix money should do the trick, hahaha. 

Yeah, friends of mine blew my mind when they spent north of a million on a house similar to my parents’ 40 minutes away from downtown Van. Insanity. 

HughFreakingDillon

Lerxst1992 said:

HughFreakingDillon said:

Lerxst1992 said:

Whether one generation does it more than others, is irrelevant, which explains why the liberal minds go there.


based on the success of coffee houses the last 25 years or so, and subscription services the last 10-15, its being done. That’s a fact.


The point is the opportunity in America is to invest. Anyone walking around these American streets not aware of Wall is missing out on the greatest opportunity on earth. Find $ every day and invest. Heck, even the govt will give you a 40 year tax deferral to help your invested money explode in value.

"liberal minds" don't go there. No one was comparing if one generation buys more coffee than another. It's the fact that older generations blame these ridiculous things for the reason millennials can't afford a house, which, as proven by basic economics, is patently absurd. 

I'll let you decide to use AI for this or not, but the subscription services vs cable is also likely a wash. No people my kids age pay for cable. Only streaming. Which amounts to about the same cost, if you have say 5 or so streaming services vs basic cable. Many have only 1 or 2. 

Investing your daily coffee, I'd agree, is a great idea. And will amount to a shit ton of money WHEN YOU ARE AT RETIREMENT AGE. That does literally zero for buying a house in your 20's, 30's, or even your 40's. But investing wasn't your original point. Giving up coffee to be able to afford a house, was. And you pivoted. 

Limiting expensive coffee and subscriptions is a step in the right direction, not a pivot. My point is opportunity from investing, whether by retirement accounts (that generate free money from employers and the government ) and/ or brokerage accounts. (retirement accounts here allow borrowing for home purchases)

the world has changed from the days when Ten dominated the album charts. As long as we are using anecdotes to prove our points…You ever see hgtv type shows like House Hunters? Ever see a young couple looking for their first home on there? This happens often….


”OMG this kitchen is over twenty years old…FULL GUT JOB…and look at that bathroom…another gut job…”


not sure what the world is like by you, but it was absolutely unequivocally NOT like this when my generation were first time house buyers. Most of us believed in getting our financial house in order before investing in renovations like granite countertops tops and marble bathrooms. Tell your kids friends there was a time when cable tv changed the world, and that legacy still exists.

This way of life is a double edged sword. It depletes liquidity from young adults and drives up comparable real estate values on the market.


This type of rapid increase in property values is nothing new. Way way back when I was 20 the average home prices had tripled in ten years in my region. It’s just the marble and granite purchases by young adults that is.

Look at the rate of increase in average property values vs average income. It has absolutely skyrocketed more than any other generation. Not sure why you’re still defending this ridiculous premise. 

static111

PJ_Soul said:

static111 said:

PJ_Soul said:

Holy cow, all you people talking about $400K - $600K homes, LOL. Must be nice. One would be hard pressed to find a liveable detached home for under $1.2M where I live, where the average salary is $62K. Yep, that coffee and Netflix money should do the trick, hahaha. 

That's a lot of twoneeys.

Hahaha. Toonies! Because Loonies, lol. 

You never heard toonies before?  I grew up in Michigan about 30 minutes from the Soo.  We called them toonies as soon as they were a thing haha.

PJ_Soul

static111 said:

PJ_Soul said:

static111 said:

PJ_Soul said:

Holy cow, all you people talking about $400K - $600K homes, LOL. Must be nice. One would be hard pressed to find a liveable detached home for under $1.2M where I live, where the average salary is $62K. Yep, that coffee and Netflix money should do the trick, hahaha. 

That's a lot of twoneeys.

Hahaha. Toonies! Because Loonies, lol. 

You never heard toonies before?  I grew up in Michigan about 30 minutes from the Soo.  We called them toonies as soon as they were a thing haha.

Me? I'm Canadian. I was just correcting the spelling! People think it's spelled with a "two" in it, which would make perfect sense, but it's not, because of the Loonie. 

static111

PJ_Soul said:

static111 said:

PJ_Soul said:

static111 said:

PJ_Soul said:

Holy cow, all you people talking about $400K - $600K homes, LOL. Must be nice. One would be hard pressed to find a liveable detached home for under $1.2M where I live, where the average salary is $62K. Yep, that coffee and Netflix money should do the trick, hahaha. 

That's a lot of twoneeys.

Hahaha. Toonies! Because Loonies, lol. 

You never heard toonies before?  I grew up in Michigan about 30 minutes from the Soo.  We called them toonies as soon as they were a thing haha.

Me? I'm Canadian. I was just correcting the spelling! People think it's spelled with a "two" in it, which would make perfect sense, but it's not, because of the Loonie. 

Aha. I see. Thanks. 

OnWis97

Sometimes I wonder how most people even live indoors, anymore. 

Fortunately, having the DINK lifestyle enables us not to need too much house. We recently paid off our townhome and the value/cost starts with a "2." Fine by me. I don't need a $450,000 home causing me to consider eating ramen five days a week.

Tim Simmons

Save money where you can by not buying superfluous stuff and invest it. Someone should write a book about that.

Tim Simmons

To say, pull yourself up by your bootstraps by not having a little treat vs, advocate fixing the system is certainly a take.

Lerxst1992

HughFreakingDillon said:

Lerxst1992 said:

HughFreakingDillon said:

Lerxst1992 said:

Whether one generation does it more than others, is irrelevant, which explains why the liberal minds go there.


based on the success of coffee houses the last 25 years or so, and subscription services the last 10-15, its being done. That’s a fact.


The point is the opportunity in America is to invest. Anyone walking around these American streets not aware of Wall is missing out on the greatest opportunity on earth. Find $ every day and invest. Heck, even the govt will give you a 40 year tax deferral to help your invested money explode in value.

"liberal minds" don't go there. No one was comparing if one generation buys more coffee than another. It's the fact that older generations blame these ridiculous things for the reason millennials can't afford a house, which, as proven by basic economics, is patently absurd. 

I'll let you decide to use AI for this or not, but the subscription services vs cable is also likely a wash. No people my kids age pay for cable. Only streaming. Which amounts to about the same cost, if you have say 5 or so streaming services vs basic cable. Many have only 1 or 2. 

Investing your daily coffee, I'd agree, is a great idea. And will amount to a shit ton of money WHEN YOU ARE AT RETIREMENT AGE. That does literally zero for buying a house in your 20's, 30's, or even your 40's. But investing wasn't your original point. Giving up coffee to be able to afford a house, was. And you pivoted. 

Limiting expensive coffee and subscriptions is a step in the right direction, not a pivot. My point is opportunity from investing, whether by retirement accounts (that generate free money from employers and the government ) and/ or brokerage accounts. (retirement accounts here allow borrowing for home purchases)

the world has changed from the days when Ten dominated the album charts. As long as we are using anecdotes to prove our points…You ever see hgtv type shows like House Hunters? Ever see a young couple looking for their first home on there? This happens often….


”OMG this kitchen is over twenty years old…FULL GUT JOB…and look at that bathroom…another gut job…”


not sure what the world is like by you, but it was absolutely unequivocally NOT like this when my generation were first time house buyers. Most of us believed in getting our financial house in order before investing in renovations like granite countertops tops and marble bathrooms. Tell your kids friends there was a time when cable tv changed the world, and that legacy still exists.

This way of life is a double edged sword. It depletes liquidity from young adults and drives up comparable real estate values on the market.


This type of rapid increase in property values is nothing new. Way way back when I was 20 the average home prices had tripled in ten years in my region. It’s just the marble and granite purchases by young adults that is.

Look at the rate of increase in average property values vs average income. It has absolutely skyrocketed more than any other generation. Not sure why you’re still defending this ridiculous premise. 

It’s your comments that are ridiculous. You discredit facts on nothing more than anecdotes. Every topic. Same nonsense.

I guess authors such as David Bach, J.L. Collins and Justin Sliva have nothing compared to the financial genius coming from your comments lol.

 Yeah Vancouver is expensive. We had Todd Talbot teach us that ten years ago. Didn’t realize he was an expert giving advice on American opportunity, if we’re talking about pivots.. High housing prices doesnt mean people can’t be smart with money to build wealth. Maybe I should invest in the Swedish or Canadian financial markets instead.

 

Lerxst1992

Tim Simmons said:

Save money where you can by not buying superfluous stuff and invest it. Someone should write a book about that.

Thanks is for the idea. There must be books on this concept? As well as the performance of the American financial markets?