AColunga07 said:

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Ag_of_08 said:

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Tom Fox said:

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Ag_of_08 said:

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I'm in my late 30s, but have friends that run through into their twenties.... not a single one of them cares about Instagram followers sans a couple that are using it as a side hustle.

They care about the fact that, even with a degree, a lot of them aren't even making it. I care about the fact I'm working a job that payed me what I considered an excellent wage 15yrs ago when I started is becoming an absolute dead end and only paying 5$ an hour more.... my only way out is starting over, and there's no way I can afford to do that.

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I left my career making 130k at 38 and went to law school in 2012.

12 years later, I own my own business and make right at 7 figures. It is doable depending on you and your risk tolerance.

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I have a useless degree(scratch that...i never finished and am not sure i can now) and no real way to change my circumstances. I truthfully don't know if i finished the thing there's anything I could really do. I know my field exceptionally well, it just doesn't pay unfortunately.

That's where a huge number of us stand unfortunately..... we effed up at 18-21, now there's no real comeback

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At least you are honest about it and taking ownership rather than blaming the system.

That being said, I would like to see a way out for people to "make a comeback." If we are honest with ourselves, most of us weren't at our best during 18-21 and those years are so impactful to the rest of your life.

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Meh. I was basically broke at 26. Got a gubmint job that does not require a degree. Will be able to retire at 50 if I choose to. A lot of it is about choices and sacrifices you make along the way.

Rattler12 said:

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BlueTaze said:

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Yeah, actually "owning" a home is great. But usually they are referring to getting a 30 year mortgage, which at the wrong time, can totally hamstring a young person.

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We bought our current house in 97 on a 30 year mortgage. We refinanced a couple of years later at a better interest rate to a 20 year. RBFCU comes along with a no closing cost refinance offer at an even lower rate and we refinanced for 10. The payment changed by a small amount each time but was affordable. We paid the house balance off in 2009 with a bonus I received and the home value has increased by 531%.

It's been dang nice not having a mortgage payment the last 14 years

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Sometimes I do wonder how much further ahead I'd be financially if we still lived in that first house we bought in Round Rock for $115k in 1995.

But nah... I wouldn't have been able to tolerate Austin any longer and certainly would have been laid off from Dell at least 2 more times by now. Or found my calling as a "Yes Man" in State Government.

HollywoodBQ said:

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Muy said:

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I bought my first home in '95 in Valley Ranch for $125k. I'm going to look up the value now but guarantee it's $450k+ now.

Not sure the younger generation will ever see returns like that.

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A - The area has to be good and hold up or get gentrified. Houses are $600k+ in Compton these days.
B - I don't think you know how much further the US Dollar is going to get devalued. That $125k house in 1995 will probably be $1.25M in another 20 years.

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Just looked up the address (no idea how I remembered it!), and Zillow estimates it at $458k. Geezsh, it's 1,600 sq. feet, zero lot line, and 2 stories.

I wish I would have rented out our house in Leander when we moved. Bought it for $135k in 2011. Worth around $450k now. Nuts.

Muy said:

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HollywoodBQ said:

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Muy said:

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I bought my first home in '95 in Valley Ranch for $125k. I'm going to look up the value now but guarantee it's $450k+ now.

Not sure the younger generation will ever see returns like that.

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A - The area has to be good and hold up or get gentrified. Houses are $600k+ in Compton these days.
B - I don't think you know how much further the US Dollar is going to get devalued. That $125k house in 1995 will probably be $1.25M in another 20 years.

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Just looked up the address (no idea how I remembered it!), and Zillow estimates it at $458k. Geezsh, it's 1,600 sq. feet, zero lot line, and 2 stories.

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I'm telling you, a recession would solve a lot of problems

zooguy96 said:

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I wish I would have rented out our house in Leander when we moved. Bought it for $135k in 2011. Worth around $450k now. Nuts.

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Yep, aside from using the profits from the homes, everyone gets older and eventually wishes they sucked it up and kept every house they moved out of. For the most part.

Just wanted to say I didn't post this to criticize millennials.

I know things are hard.

Everyone is spending twice as much every month for food, goods, utilities, and services under Harris/Biden.

Just thought it would be interesting to discuss because Steve Deace brought it up, and he is one of the best political minds in the country because he will always tell you the truth no matter what.

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A starter house was about $75k in '90. Closer to $400k today.

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starter home or average home?

home prices (all prices) are insane, yes, but part of the problem are people's expectations.

When you think life requires a coffee bar, a man cave, a 12-foot long granite kitchen island, walk-in pantries, and a fireplace on the patio...yep, those "starter" homes get expensive.

ARGH !!!

"Anxious generation" was written about teens after 2010 and up. Latest boomer birth year was 1964. So while some of these teens COULD have been to boomers, the great majority were not. Now you could blame the boomers for raising idiots, just not these particular idiots.

Tergdor said:

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dmart90 said:

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starter house was about $75k in '90. Closer to $400k today.

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Brand new starter homes with good builders are right around/under $300k in Texas. Fixer uppers are regularly under $150k or even $100k. Older/used homes with decent bones can be gotten in the low $200's as long as it isn't on 1+ acres or if there isn't a Californian overpaying for it.

The mortgage on my 3-bedroom brand-new starter home is only about $100 more than the rent was on my one-bedroom apartment, and rent got bumped up almost $200 when I moved out. I know there are coworkers paying more for rent than I am for mortgage.

People aren't buying homes because they can't afford the down payment or get the credit requirement. They'd be able to afford the mortgage payments otherwise.

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this is part of the housing issue. People are wanting a house equal to or bigger than what they grew up in, not understanding that may have been house 3-4 for their parents not their starter home.

During a big model home showcase in my subdivision I heard more than one couple talk about the 5/2 3200 sq ft home would be a nice starter until they had kids. That's an $800k house they consider a starter because "daddy makes lots of money and he'll help me pay for it".

I'm not buying because a) screw Harris county property taxes
And B) what I can reasonably afford is still limited to areas where police presence is discouraged if not not allowed. Hooray bad decisions!

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As opposed to whom? The Boomers and Gen Xers? You can take what you said and apply to both those generations. They had the same crap thrown at them by the oldies back in the day. And I say this as a Gen Xer. We grew up in luxury also and so did the boomers compared to their folks.

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I absolutely understand that I have lived a life better than almost the entirety of human history.

The difference, I believe, is that I recognize that and so many post-modern, post-captislist types of today actually see themselves as oppressed.

Perhaps the difference is social media.

Perhaps the difference is being raised by parents born a 100 years ago and being better connected to the progress we have made and not taking it for granted.

Perhaps because I shared a single bathroom with 5 siblings and two parents in a house without central heat and air and when I visited my grandparents the outhouse was still there, so I knew I had it great.

Perhaps it was from having at least a period of our lives where instant gratification wasn't a thing.

Perhaps all off that or none of it.

But for whatever reason, entitlement has gone up and appreciation has diminished.

sam callahan said:

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As opposed to whom? The Boomers and Gen Xers? You can take what you said and apply to both those generations. They had the same crap thrown at them by the oldies back in the day. And I say this as a Gen Xer. We grew up in luxury also and so did the boomers compared to their folks.

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I absolutely understand that I have lived a life better than almost the entirety of human history.

The difference, I believe, is that I recognize that and so many post-modern, post-captislist types of today actually see themselves as oppressed.

Perhaps the difference is social media.

Perhaps the difference is being raised by parents born a 100 years ago and being better connected to the progress we have made and not taking it for granted.

Perhaps because I shared a single bathroom with 5 siblings and two parents in a house without central heat and air and when I visited my grandparents the outhouse was still there, so I knew I had it great.

Perhaps it was from having at least a period of our lives where instant gratification wasn't a thing.

Perhaps all off that or none of it.

But for whatever reason, entitlement has gone up and appreciation has diminished.

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Pretty much how I was raised by my parents .........Pop was born 103 years ago last Feb and Mom 99 years ago earlier this month. I'd never much thought about that but thanks for putting it that way. Pushing 3/4 of a century myself and lovin it. Aggie football gives me the shivers sometimes but after growing up with it I'm pretty used to it by now. How many of you guys had to listen to your Dad bitz about Hank Foldberg? Jim Meyers?.........and praise Bear Bryant as the second coming?

i know it's gauche and cringe to blame boomers for this but it's true. they decided to make their primary homes their main investment vehicles and then voted for a bunch of nimby policies that stifled home building to raise the value of their assets. now here we are.

Rattler12 said:

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sam callahan said:

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Quote:

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As opposed to whom? The Boomers and Gen Xers? You can take what you said and apply to both those generations. They had the same crap thrown at them by the oldies back in the day. And I say this as a Gen Xer. We grew up in luxury also and so did the boomers compared to their folks.

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I absolutely understand that I have lived a life better than almost the entirety of human history.

The difference, I believe, is that I recognize that and so many post-modern, post-captislist types of today actually see themselves as oppressed.

Perhaps the difference is social media.

Perhaps the difference is being raised by parents born a 100 years ago and being better connected to the progress we have made and not taking it for granted.

Perhaps because I shared a single bathroom with 5 siblings and two parents in a house without central heat and air and when I visited my grandparents the outhouse was still there, so I knew I had it great.

Perhaps it was from having at least a period of our lives where instant gratification wasn't a thing.

Perhaps all off that or none of it.

But for whatever reason, entitlement has gone up and appreciation has diminished.

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Pretty much how I was raised by my parents .........Pop was born 103 years ago last Feb and Mom 99 years ago earlier this month. I'd never much thought about that but thanks for putting it that way. Pushing 3/4 of a century myself and lovin it. Aggie football gives me the shivers sometimes but after growing up with it I'm pretty used to it by now. How many of you guys had to listen to your Dad bitz about Hank Foldberg? Jim Meyers?.........and praise Bear Bryant as the second coming?

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My father was on a Corps Trip to Houston for the Rice game in the Fall of 1955 as a fish in A-Infantry when Texas A&M scored 3 touchdowns in 3 minutes to beat Rice.

So that's why I never leave an A&M Game early. I've been to over 100 of them and my won/loss record is terrible - especially on the road.

Fun fact, in the movie "Back to the Future", they announce the final score of that A&M @ Rice game on the radio in Doc's workshop.

If you're unaware of how A&M won that game, I highly recommend watching the YouTube video linked here:
https://www.goodbullhunting.com/2015/10/21/9591040/back-to-the-future-1955-texas-a-m-vs-rice

Old McDonald said:

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i know it's gauche and cringe to blame boomers for this but it's true. they decided to make their primary homes their main investment vehicles and then voted for a bunch of nimby policies that stifled home building to raise the value of their assets. now here we are.

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Speaking of pro-Boomer legislation, don't forget about California Prop 13.

Assume the value of my house and the 80 year old lady across the street are the same but, I've got to pay 10x the property taxes she does because I just bought my house but she's got the same rate from 40 years ago.

If my property tax was set on 40 year old values, you couldn't pry me out of my house.

Well...maybe you could if I lived in California.

Old McDonald said:

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i know it's gauche and cringe to blame boomers for this but it's true. they decided to make their primary homes their main investment vehicles and then voted for a bunch of nimby policies that stifled home building to raise the value of their assets. now here we are.

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Yeah, it's not the democrats that just let 3% of the United States population walk across the border and put unprecedented pressure on housing. 15 percent of America is developed. There is plenty of land out there not in their backyards that you can build on.

Caliber said:

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dmart90 said:

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A decent, midpoint car cost about $12k in '90. There's nothing under $20k today.

A starter house was about $75k in '90. Closer to $400k today.

We have a real problem.

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Compare apples to apples. Why is that car so much more? Look at all the government regulation requirements combined with all the extras everyone "needs".

Houses are similar. Finding small houses is ridiculous. Starter homes are now 2nd or 3rd homes. Starter home used to mean small, vinyl or cheap carpet, linoleum counters, etc. Hardly anyone builds those new now because they don't sell.

Same for apartments. People used to sacrifice, now they want it all at 22, plus a crap ton of extras.

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The last statement is dead on. Young people attempt to live above their means. They see reality tv stars and think they are entitled to the same live style. They also think someone owes them something and they should not have to sacrifice and work to accomplish their goals.

HollywoodBQ said:

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Old McDonald said:

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i know it's gauche and cringe to blame boomers for this but it's true. they decided to make their primary homes their main investment vehicles and then voted for a bunch of nimby policies that stifled home building to raise the value of their assets. now here we are.

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Speaking of pro-Boomer legislation, don't forget about California Prop 13.

Assume the value of my house and the 80 year old lady across the street are the same but, I've got to pay 10x the property taxes she does because I just bought my house but she's got the same rate from 40 years ago.

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I'm sorry but an 80 year old lady shouldn't have to pay property taxes anymore, anywhere......she's paid her share and shouldn't have to die to quit paying them.

Worst part of the debt fueled consumer economy we have created is that we cannot stop inflating the money supply. If did just stop, there would not be enough money to repay all debt and the entire system would collapse. To make it even worse, the more monetary easing they do, they also make it easier to access debt, exacerbation the issue. It's a spiral with only one end

I think right now there is something like 4x as much debt as there is in M2 supply. So it's really a mathematical impossibility to cover this debt without more debt / more money supply.

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I think right now there is something like 4x as much debt as there is in M2 supply.

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I'm surprised it's only 4X.

LuoJi said:

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Worst part of the debt fueled consumer economy we have created is that we cannot stop inflating the money supply. If did just stop, there would not be enough money to repay all debt and the entire system would collapse. To make it even worse, the more monetary easing they do, they also make it easier to access debt, exacerbation the issue. It's a spiral with only one end

I think right now there is something like 4x as much debt as there is in M2 supply. So it's really a mathematical impossibility to cover this debt without more debt / more money supply.

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You are 100% correct. The only people that won't acknowledge how screwed the system is are either too financially beholden to it or too stupid to understand basic economics.

Generations can point the finger at each other but you still gotta play the hand you dealt.

Biggest mistake for an individual gonna be doing what the previous generation did.

Younger people gotta look at their situation independent of what they seen the past 20-years. It's unrealistic to try and do what your parents did in the way they did it. Part of what they mean by the 4th turning. We looking at it.

Get a roommate
Work more than 40 hours
Delay gratification
Profit

Bocephus said:

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Old McDonald said:

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i know it's gauche and cringe to blame boomers for this but it's true. they decided to make their primary homes their main investment vehicles and then voted for a bunch of nimby policies that stifled home building to raise the value of their assets. now here we are.

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Yeah, it's not the democrats that just let 3% of the United States population walk across the border and put unprecedented pressure on housing. 15 percent of America is developed. There is plenty of land out there not in their backyards that you can build on.

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^winner ding ding ding

You are spot on.

Democrats have put so much pressure on the lower end of the market under Harris/Biden and it has trickled up to all the other levels.

Bocephus said:

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Old McDonald said:

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i know it's gauche and cringe to blame boomers for this but it's true. they decided to make their primary homes their main investment vehicles and then voted for a bunch of nimby policies that stifled home building to raise the value of their assets. now here we are.

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Yeah, it's not the democrats that just let 3% of the United States population walk across the border and put unprecedented pressure on housing. 15 percent of America is developed. There is plenty of land out there not in their backyards that you can build on.

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housing affordability has been an issue for at least the last several decades if not longer

Old McDonald said:

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Bocephus said:

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Old McDonald said:

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i know it's gauche and cringe to blame boomers for this but it's true. they decided to make their primary homes their main investment vehicles and then voted for a bunch of nimby policies that stifled home building to raise the value of their assets. now here we are.

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Yeah, it's not the democrats that just let 3% of the United States population walk across the border and put unprecedented pressure on housing. 15 percent of America is developed. There is plenty of land out there not in their backyards that you can build on.

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housing affordability has been an issue for at least the last several decades if not longer

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So the boomers didn't ruin the world?

Bocephus said:

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Old McDonald said:

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Bocephus said:

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Old McDonald said:

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i know it's gauche and cringe to blame boomers for this but it's true. they decided to make their primary homes their main investment vehicles and then voted for a bunch of nimby policies that stifled home building to raise the value of their assets. now here we are.

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Yeah, it's not the democrats that just let 3% of the United States population walk across the border and put unprecedented pressure on housing. 15 percent of America is developed. There is plenty of land out there not in their backyards that you can build on.

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housing affordability has been an issue for at least the last several decades if not longer

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So the boomers didn't ruin the world?

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No but they made it worse

I'm just glad the scale was consistent on the graphs so it would be easy to see if everything was about the same. Oh wait… that's why they didn't put it on one graph. Had to change the scale on each to make it look better.

Not getting married makes sense because we've been hearing for decades how hard marriage is and how it's forever and how much you have to give up and how likely you are to fail. The rest seems mostly because the generation was coddled.

Biggest problem with Boomers was raising whiny kids.......then those whiny kids doubled down on the whiny with theirs ....and so on and so on.....and here we are today.

Yukon Cornelius said:

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I've heard this great quote once. A farmer doesn't yell at his crops to grow. He nourishes them. So to parents should not yell at their kids but nourish them.

You wouldn't blame a withered unhealthy neglected crop for its state but the farmer.

IMO the boomers have woefully neglected their children. And the trend continues as millennials have to woefully neglected their children. Substituting parenthood with TVs and Movies and video games.

But it's also largely due to the worthlessness of the dollar. More hours demanded to work driving parents out of the homes etc.


And no one even mentions the divorce rate. What's the psychological damage the extreme divorce rate among boomers have done to their children? Probably unfathomable. Destroying the one institution that should be preserved above all others while your kids are most impressionable.

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Most all of my boomer friends including me have very well adjusted kids that are doing very well. Both of mine are in their early 30s and own their own houses with very reasonable vehicles that they drive. Hell yeah I yelled at them when needed. I nourished them plenty. I provided perspective. I showed them that everything isn't given to them. Kids need to be shown limits and they need to shown consequences. They also need to be rewarded when they excel. We took ours on great trips out of the country and they also had jobs during high school to have additional spending money. They also had friends and they had parents. I was not their friend, I was and still am their dad, we just have a different relationship now that they are grown.

I did make some financial decisions to make sure I was there for sports, orchestra, dinner, awards, homework because they were the priority. I do see some Boomers with crap kids, but I don't know a lot of them that "woefully neglected their children".

Gen X here, patiently awaiting the birth of our seventh grandchild. The parents (my sons and their wives) are currently 32, 31, 29, and 28. I'm absolutely certain that the reason they are so pro-family, pro-children, and pro-life is due to one factor - the saving grace of Jesus Christ. They all had the proverbial drug problem - my kids and the wives parents drug them to church, each and every Sunday. They all went on mission trips. They all worked hard enough to get into A&M, graduate, find jobs, and buy homes. To be sure, we have been fortunate and blessed, we have faced no serious adversity, everybody is healthy and the like, but I'm convinced that they would have been able to handle it if say one of the children were seriously ill. Of course, we know families whose kids are doing fine and who are raising children even though they are not believers. But there is no doubt in my mind that the data presented on those graphs are directly correlated to the lack of participation in church.