Boomers v. Millenials (and hey, did you know there's a Gen X too?)

[gmr548 16580]

At least with my friends (all in our late 20s, early 30s), it sure feels like parents picked one (wedding, honeymoon or down payment) at a minimum. 

 

The vast majority of people in their late 20s/early 30s that own a home got significant parental help somewhere. If not directly in the form of cash for a down payment, then indirectly through paying for college and not making them incur student debt. That isn't a knock on anyone or their parents - as it's been said in this thread, that's what fanily is for. But it is mathematical reality. Starting from $0 at 18 to owning a home in 10-15 years is not economically realistic for most. Sure, there are exceptions - starting a duccessgul business at a young age, very low COL areas, etc. but in general that's a pretty tall economic order these days.

 

Sent from my SM-G920V using Tapatalk

 

 

 

[SuingToGetAMessageBoard? 3861]

I've been on my own since I was 19.  Haven't taken a penny, except my parents paid for college.  But I didn't take anything else other than the car they bought me for graduation.  Just me, grit, gumption, my own bootstraps, and the down payment they provided for my house as a wedding present.  The wedding was also a wedding present I guess.  Now I'm a self made man in my family's business and I'm proud of that fact.

[Bama Chick 28596]

I've been on my own since I was 19.  Haven't taken a penny, except my parents paid for college.  But I didn't take anything else other than the car they bought me for graduation.  Just me, grit, gumption, my own bootstraps, and the down payment they provided for my house as a wedding present.  The wedding was also a wedding present I guess.  Now I'm a self made man in my family's business and I'm proud of that fact.

lol

Sad thing is there are so many that believe the situation you so accurately describe makes them “self made”.

These same folks are also the ones most likely to get all hot and bothered when confronted with white privilege and deny such a thing exists.

[Hugo Stiglitz 23367]

Just like to say I’m a total deadbeat and paid for everything with gambling winnings and inheritance.

[David Dennison 18856]

1 hour ago, SuingToGetAMessageBoard? said:

I've been on my own since I was 19.  Haven't taken a penny, except my parents paid for college.  But I didn't take anything else other than the car they bought me for graduation.  Just me, grit, gumption, my own bootstraps, and the down payment they provided for my house as a wedding present.  The wedding was also a wedding present I guess.  Now I'm a self made man in my family's business and I'm proud of that fact.

The Johnny Sack School for Underprivileged Youth

[JimmyJames 12271]

1 hour ago, David Dennison said:

The Johnny Sack School for Underprivileged Youth

Maybe I missed it but I haven’t seen the sack claim that he pulled himself up by his bootstraps or anything like that. He just routinely talks shit about his slumlord tenants, minorities, the poor, and others who he claims make a lot of bad choices in life, apparently unlike him despite the fact that he was born into a whole lot of wealth and really hasn’t done much since. 

It’s a subtle difference I know, but just trying to be accurate about his shitiness. 

[SuingToGetAMessageBoard? 3861]

 

 

[Johnny Sack 8397]

On 3/5/2019 at 6:01 PM, JimmyJames said:

Maybe I missed it but I haven’t seen the sack claim that he pulled himself up by his bootstraps or anything like that. He just routinely talks shit about his slumlord tenants, minorities, the poor, and others who he claims make a lot of bad choices in life, apparently unlike him despite the fact that he was born into a whole lot of wealth and really hasn’t done much since. 

It’s a subtle difference I know, but just trying to be accurate about his shitiness. 

You don’t know shit.  The people I rent to are hard working blue collar types.  I don’t like the segment of society that are the lazy entitled worthless fucks your party enables telling them they’re victims and promises free shit to harvest votes.    

Hard working folks or any income level, race, sex, nationality, sexual orientation, color, or political party are great with me. 

Edited March 9, 2019 by Johnny Sack

[David Dennison 18856]

9 minutes ago, Johnny Sack said:

You don’t know shit.  The people I rent to are hard working blue collar types.  I don’t like the segment of society that are the lazy entitled worthless fucks your party enables telling them they’re victims and promises free shit to harvest votes.    

Hard working folks or any income level, race, sex, nationality, sexual orientation, color, or political party are great with me. 

This sounds like Donald Trump's base.

[Johnny Sack 8397]

4 hours ago, David Dennison said:

This sounds like Donald Trump's base.

[David Dennison 18856]

13 minutes ago, Johnny Sack said:

Like I said, it sounds like Donald Trump's base.

[DaysOff 7951]

That honestly doesn't make sense Hugo.

[JimmyJames 12271]

17 hours ago, Johnny Sack said:

You don’t know shit.  The people I rent to are hard working blue collar types.  I don’t like the segment of society that are the lazy entitled worthless fucks your party enables telling them they’re victims and promises free shit to harvest votes.    

Hard working folks or any income level, race, sex, nationality, sexual orientation, color, or political party are great with me. 

Lol. So does your rental application ask “are you a hard working blue collar type or a lazy entitled worthless fuck?”

Does anyone identify themselves as the latter? Because if so I’d reject that applicant as well. 

[Celery Man 20948]

wait, does getting a car and college count as bootstrapping your way to success?

[Nice Guy Eddie 13512]

13 hours ago, Johnny Sack said:

You make it seem like trump overwhelming won the high income voters.  I will give you that he won this poll by 1-2%.  Landslide.  How did he perform in the education ranges?  

[Guest]

9 minutes ago, Celery Man said:

wait, does getting a car and college count as bootstrapping your way to success?

Bootstrapping does not exist.

Nobody has a chance any more.

Trump makes me cry.

Edited March 10, 2019 by slorch

[JimmyJames 12271]

6 minutes ago, Nice Guy Eddie said:

You make it seem like trump overwhelming won the high income voters.  I will give you that he won this poll by 1-2%.  Landslide.  How did he perform in the education ranges?  

The sack likes his tenants poorly educated. 

[Celery Man 20948]

34 minutes ago, slorch said:

Bootstrapping does not exist.

Nobody has a chance any more.

Trump makes me cry.

haha cool buddy, that's what I was saying

[Johnny Sack 8397]

6 hours ago, Nice Guy Eddie said:

You make it seem like trump overwhelming won the high income voters.  I will give you that he won this poll by 1-2%.  Landslide.  How did he perform in the education ranges?  

I’m sure Hillary dominated the PhD Barista class with $200k in loans and a wealth of knowledge in Gender Studies.  Because they are the smart ones.  

[Captainant 27667]

Yeah you're right, renting is much cheaper in the long term. No sense in buying a house and building equity with mortgage payments /s

[David Dennison 18856]

2 minutes ago, Captainant said:

Yeah you're right, renting is much cheaper in the long term. No sense in buying a house and building equity with mortgage payments /s

As with everything in life, the best option depends on preferences and goals. Both have pros and cons.

[Nivek 16929]

I’m sure Hillary dominated the PhD Barista class with $200k in loans and a wealth of knowledge in Gender Studies.  Because they are the smart ones.  

e.g. Dunning-Kruger

[Nice Guy Eddie 13512]

1 hour ago, David Dennison said:

As with everything in life, the best option depends on preferences and goals. Both have pros and cons.

Yep. I know some people that invested in homes that have barely appreciated because they're in an area where new development is still occurring. They probably would have been better off renting and putting their down payment in a stock fund. But hindsight is 20/20. If they had gone that route and the stock market tanked, it would have been better to buy.

I think buying is usually the better option for most but not 100% of the time.

I've been a homeowner for 15 years. Because of a job change a few years ago, I wish I lived much closer to work. For several reasons, it's not the best time for me to sell right now so I face a crappy commute. I was renting, I would have already moved close to work.

[disgustipated 39]

X'er latch key kid and bad news bears > millennial with helicopter parents and everybody gets a trophy.  

[NameAlreadyInUse 5112]

17 hours ago, OatmealRaisinCookie said:

I don't know about you guys but I bought a house with a dp from crypto gainz before the bust; and I'm constantly questioning why the heck to even own a stupid house. It's a money pit. Would rather rent and just plan to keep exponentially making more and more money in the rat race, but that's just me. I'm honestly thinking of selling this summer take a little bit of profit and just renting again.

You aren't buying a house for now, you are buying a house so that you have a rent free place to live when you retire.  You will need to account for rent payments in retirement if you don't plan to own a place.  

[Anastasis 23469]

11 minutes ago, NameAlreadyInUse said:

You aren't buying a house for now, you are buying a house so that you have a rent free place to live when you retire.  You will need to account for rent payments in retirement if you don't plan to own a place.  

Property tax is unfortunately the rent that never goes away. 

[F250 28774]

44 minutes ago, disgustipated said:

X'er latch key kid and bad news bears > millennial with helicopter parents and everybody gets a trophy.  

Yes.

One time I was 15 minutes late picking my son up from baseball practice when he was 14 years old. He complained about being left waiting for a ride. I used to walk to and from baseball practice when I was an actual kid in elementary school on a regular basis with no fucks given.

 

[Bama Chick 28596]

As someone who once was a Director of Marketing for a Senior Living facility, if you think any of the nice ones are cheap, you’re either ignorant or stupid.

Even the mid-range ones are very expensive.

Like, one small bedroom (no room for king beds), apartment sized bathroom, one hotel room size living area, kitchenette (no stove or oven) for $5,600 per month. IN A TOWN OF 50,000 PEOPLE IN ALABAMA.

[NameAlreadyInUse 5112]

11 hours ago, Anastasis said:

Property tax is unfortunately the rent that never goes away. 

Property taxes go up in rentals as well man. 

[NBMisha 224]

On 3/10/2019 at 8:31 PM, OatmealRaisinCookie said:

I don't know about you guys but I bought a house with a dp from crypto gainz before the bust; and I'm constantly questioning why the heck to even own a stupid house. It's a money pit. Would rather rent and just plan to keep exponentially making more and more money in the rat race, but that's just me. I'm honestly thinking of selling this summer take a little bit of profit and just renting again.

Not married, I take it?

[Anastasis 23469]

7 hours ago, NameAlreadyInUse said:

Property taxes go up in rentals as well man. 

Of course, and property taxes are passed through to the renter.  My point was that even home ownership doesn't get you off the treadmill in retirement. At least in a state like Texas, you are on the hook forever.  Sure you get capped on your school portion, but you are going to have a sizable annual "rent" owed to the tax man.  

[NameAlreadyInUse 5112]

and my point was that you can pay rent + tax or just tax.  Choice is yours.