Affordability discussion (split from Iran thread)

#401
#401
LouderVol said:
never a real part time with a W9. did some cash jobs, nothing related with my field. at the time I felt lucky to have one actual job, I know the CFA, target, and publix across the street weren't hiring for any shifts I could have pulled.

with the commutes I had weekends were the only way I could have worked more, but the places I talked to didn't want any weekend-only workers.
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I am not saying you're wrong because I didn't live your life. But when I waited tables in college, there were people who worked an 8-4 and then worked dinner shift a few days a week. Dink of vfh would know better than me but I imagine that is still happening.
 
#402
#402
McDad said:
I am not saying you're wrong because I didn't live your life. But when I waited tables in college, there were people who worked an 8-4 and then worked dinner shift a few days a week. Dink of vfh would know better than me but I imagine that is still happening.
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I didn't get home most week days until 7. I guess I could have worked around my office somewhere but there weren't a ton of restaurants in midtown at that time.
 
#405
#405
LouderVol said:
I don't think I could have afforded a lump sum 3500 payment until I have worked and saved for 2 years or more. certainly wasn't able to put that much down as my down payment on the car.

a lot of poor people can't afford to put down cash payments like that. kinda like boot analogy/story; it often costs more to be poor than it does to be rich.

took me 5 years to save up 10k as a rainy day fund, most of that was back loaded on the 5 years. again I wasn't out there traveling, buying avocado toast or starbucks.
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I get that.

But the solution, as laid out earlier, isn’t a $500 car payment. $500 car note guy can absolutely get himself into a $2-3k car, and put himself in position for a reasonable starter home.
 
#410
#410
85SugarVol said:
Lol I literally just told you we could skip to the part you’ve been angling for, and to come out with it.

And now you don’t want to…
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So no bet? Alright then, thought so.

You keep championing the tired old boot strap line, that way you are outwardly only responsible for yourself and never have to consider others.
 
#411
#411
OHvol40 said:
Yes I have, but we can’t get past a car payment apparently. You want to bet though, so bet.
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As someone making under 30k supporting a fiance and teenager..I can tell you from experience that you can live pretty good if you mAke good choices...am I able to put back a ton of money no...do I have a new car no..but in save when I can and have are looking to purchase in the next year or so..it possible when you focus on needs and not want ..quit trying to keep up with the Kardashians and you'll be fine
 
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#412
#412
McDad said:
Irrelevant.
I'm giving solutions to the "crisis".

Besides, the example noted was for double wide. You altered the details to a single wide. Single wide is even cheaper and more affordable to those caught in the "crisis".
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It’s not irrelevant, your solution is a depreciating asset. We are talking about home ownership for the purpose of building family wealth over time correct?
 
#413
#413
OHvol40 said:
It’s not irrelevant, your solution is a depreciating asset. We are talking about home ownership for the purpose of building family wealth over time correct?
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I don't think so. This is the first I've seen you bring "building family wealth" into the conversation.

i think we are talking about people in crisis with nearly insurmountable odds of owning their own home.

Eta: more of your assumptions falling apart. From google:
  • Land Ownership: A single-wide on its own land (fee simple) can appreciate, whereas a home in a rental park often depreciates because the home only holds value if it can remain in place.
 
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#414
#414
OHvol40 said:
So no bet? Alright then, thought so.

You keep championing the tired old boot strap line, that way you are outwardly only responsible for yourself and never have to consider others.
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Lol seriously? You want me to actually “bet” where you are the only one that knows the answer and would decide who had won?
Alright then, that makes sense.

Saying that taking out a $500 car note is detrimental to someone hoping to progress into home ownership is not “pull yourself up by your bootstraps”… which only you yourself have referenced.

I’m thoroughly shocked that you haven’t shared your grand solution. You were chomping at the bit earlier.
 
#415
#415
ButchPlz said:
But who was it that was telling everyone college education was basically required for entry into the workforce? Kids didn't just basically decide to sign up for that stuff.
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Pure Propaganda. If college was a food it would be banned by the FDA for it's lack on nutrients. 3/4 of all college degrees will end up being wall art in someone's rented apartment. Colleges also should be investigated for price gouging. It shouldn't cost half of what it currently does cost to go to college. Government needs to be removed from education and teachers unions need to be abolished. Phew! I'm exhausted now cleaning up that mess.
 
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#416
#416
GroverCleveland said:
My son complains about his student debt, somewhere around $80-90k for a masters in Civil Engineering from Ga Tech. Licensed engineer. Makes pretty good money.

But likes taking vacations to Japan, and Europe and SA, etc. Pays the minimum on the loan debt. Biden convinced him the Federal Gov was going to pay it off.
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Tell him not to listen to stupid people.
 
#417
#417
McDad said:
I am not saying you're wrong because I didn't live your life. But when I waited tables in college, there were people who worked an 8-4 and then worked dinner shift a few days a week. Dink of vfh would know better than me but I imagine that is still happening.
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After graduation, I picked up Friday and Saturday night shifts as a bartender until my bosses at Morgan Keegan told me to drop the side hustle.
 
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#420
#420
WestTennesseeFox said:
Don't meet future in-laws wearing swag from Babe's. I got several interesting questions.
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Hmm. I would have thought Mojo's parents would have been delighted he managed to bring home an actual human female regardless of her attire.
 
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#421
#421
McDad said:
I don't think so. This is the first I've seen you bring "building family wealth" into the conversation.

i think we are talking about people in crisis with nearly insurmountable odds of owning their own home.

Eta: more of your assumptions falling apart. From google:
  • Land Ownership: A single-wide on its own land (fee simple) can appreciate, whereas a home in a rental park often depreciates because the home only holds value if it can remain in place.
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I haven’t brought it up, but it was part of the conversation in this thread and one of the main attractions of home ownership. Forgive me for assuming that would be implied here.

I can’t read what you posed for some reason, but I’m sure it’s great.
 
#422
#422
whodeycin85 said:
As someone making under 30k supporting a fiance and teenager..I can tell you from experience that you can live pretty good if you mAke good choices...am I able to put back a ton of money no...do I have a new car no..but in save when I can and have are looking to purchase in the next year or so..it possible when you focus on needs and not want ..quit trying to keep up with the Kardashians and you'll be fine
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I can charge a good chunk of change for my time, I’m doing fine. I’m also in my 40s and not oblivious to macro-scale home ownership issues for the people that come after me, including my children.
 
#423
#423
OHvol40 said:
I haven’t brought it up, but it was part of the conversation in this thread and one of the main attractions of home ownership. Forgive me for assuming that would be implied here.

I can’t read what you posed for some reason, but I’m sure it’s great.
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It really is.
It's probably white and unless you're on dark mode, it is invisible. Can highlight to read if you'd like.
 
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#424
#424
85SugarVol said:
Lol seriously? You want me to actually “bet” where you are the only one that knows the answer and would decide who had won?
Alright then, that makes sense.

Saying that taking out a $500 car note is detrimental to someone hoping to progress into home ownership is not “pull yourself up by your bootstraps”… which only you yourself have referenced.

I’m thoroughly shocked that you haven’t shared your grand solution. You were chomping at the bit earlier.
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You said it, not me.

Just to name a few:
- Reducing regulatory barriers
- down payment assistance programs
- Standard financial education as part of public education
- Land Trusts
- Building below-market housing (maybe manufactured housing as a good alt)
- Remove private equity from the family home market

We have to find an effective way to increase supply of affordable homes. The market will adjust eventually and increase supply, but using creative ways to ease the current acute affordability crisis will go a long way in providing more opportunity.
 
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