Affordability discussion (split from Iran thread)

#51
#51
85SugarVol said:
I’m “tail end” of Gen X, a stones throw from the early Millennials, and am doing great. Thanks.

So are all of the young Millennials moving into our East Germantown neighborhood. They’re popping out kids and gobbling up 4k sq ft homes like it’s their job (or their future, dunno).
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To be fair you can’t compare East German town to the average Gen Z and young millennial
 
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#54
#54
Ttucke11 said:
East Germantown. Dude is comparing the extreme upper end of old millennials to the average millennial and Gen Zer. Yea, no **** some trust fund kids can afford a house. Shocker.
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ButchPlz said:
100% chance this self made man started out on daddy's money.
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These posts do give me some insight into your likely perspective on things. I’ll stop.
 
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#55
#55
85SugarVol said:
I have small children as well.

I wake up terrified every night in cold sweats. Just kidding, they’re gonna be just fine. So are your little ones.

Gen Z is ultimately gonna be just fine.
Gen A is ultimately gonna be just fine.

Boomers were the Hippies that were convinced the prior generation was gonna blow up the Earth and doom us all.
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We can agree to disagree. I hope your optimism shines through, but these times are quite a bit different. The technological jump can't be disregarded as frivolous and all the ramifications that will come of that. The data trends showing the loss of spending power is a real thing.

Will they be just fine? Possibly, I hope so. But throwing your hands up and saying yes it's all the same, is quite ignorant and very dismissive of the problems the future generations will face. Bc it won't be the same ones you faced, or I faced.
 
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#57
#57
Ttucke11 said:
We can agree to disagree. I hope your optimism shines through, but these times are quite a bit different. The technological jump can't be disregarded as frivolous and all the ramifications that will come of that. The data trends showing the loss of spending power is a real thing.

Will they be just fine? Possibly, I hope so. But throwing your hands up and saying yes it's all the same, is quite ignorant and very dismissive of the problems the future generations will face. Bc it won't be the same ones you faced, or I faced.
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It’s not the “same”, that’s a mischaracterization.

Every generation has faced new and novel challenges compared to the generation that came before. That’s always been true.

And yes, they will be fine.

Even without the absolutely massive balloon coming down, they’ll be fine.
 
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#60
#60
I get the joke and I guess I'm being throw in with the liberals, but a quick scan of East Germantown housing prices....yea I'm sticking with my take that millennials in their early 30s with kids are definitely receiving some major parental kickbacks to have the ability to live there 😂
 
#61
#61
Ttucke11 said:
I get the joke and I guess I'm being throw in with the liberals, but a quick scan of East Germantown housing prices....yea I'm sticking with my take that millennials in their early 30s with kids are definitely receiving some major parental kickbacks to have the ability to live there 😂
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nypost.com

Nearly a quarter of young homebuyers receive family help for down payments

A new Redfin report shows exactly how many Gen Z and millennial buyers rely on their families for support — but there’s more than meets the eye.
nypost.com nypost.com
 
#62
#62
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#63
#63
Ttucke11 said:
I get the joke and I guess I'm being throw in with the liberals, but a quick scan of East Germantown housing prices....yea I'm sticking with my take that millennials in their early 30s with kids are definitely receiving some major parental kickbacks to have the ability to live there 😂
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Could be some?

But mostly I just see happy, successful couples, with good jobs. Living a quintessential (upper)middle class existence.
 
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#66
#66
85SugarVol said:
Could be some?

But mostly I just see happy, successful couples, with good jobs. Living a quintessential (upper)middle class existence.
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I'd bet most, but it's irrelevant really. I don't think poorly of your opinions. I just find your view a little skewed in relation to a normal Americans' experience.

Really I just want what you're describing to be an attainable goal for all young 30s couples who work hard. I could care less if it's a "good" job. I want the garbage collector and office secretary to be able to work, afford a home, and raise a kid or two without going bankrupt like it used to be.
 
#71
#71
EasternVol said:
The point is what QOL one can get with a degree. Let's not forget the change in cost of a degree in those 35 years.
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Sure, the value of degree (your income minus cost) has diminished and that’s directly correlated with the supply that you told me didn’t matter
 
#72
#72
Ttucke11 said:
He's so obtuse he didn't see I could literally run every single demographic, cost analysis, and wage analysis and it all comes back to housing costing 2x the amount of spending power it used to.

But he worked hard and young people are lazy and should save their money while paying $2100 in rent for a 500 sqft apartment.
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I’m very openly telling you that you’re using the wrong metrics. If you want to know what the right metric is, I’d be glad to help.

The right metric would be hours worked to afford the median home. Today you would have to work less than you would in 1996 to afford the median home.
 

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