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This sounds like a manufactured mainstream media issue.

When I entered the working world in the early 1980's mortgage rates were around 16%, jobs were scarce and we did not have the information of the world at our fingertips.

Also the old generations can't take it with them when they die so the young people of today will inherit it all one day.
 

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Your life becomes ugly the moment you start comparing. Any kind of jealousy is a poison. Jealousy comes because you wanted something, something of strong desire, but you were not able to achieve, and so jealousy is a mark of your failure. It only causes anger and frustration. (I copied this from something i was reading a long time ago). I don’t think they realize how hard we worked to get to were we are, that’s why socialism appeals to them. A trophy for everyone has back fired. Both of my kids, 27 and 29, have both opened homes. I did help them get a vehicle, old, but it got them to work. Both started part time jobs at 16. I believe that a lot of the current problems are directly related to piss poor parenting.
Ain't that the truth. Social media magnifies this.

And jealousy drives Socialism.
 

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Mr. Awesome
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The younger generation is hallmarked by an immediate need to start at the top rung of the ladder, coupled with a lack of loyalty to employers.
You have not caught on to the new way. Recently, in a thread, someone posted they would not hire someone who stayed with a company more than a couple of years. Within that thread, there was no consensus as to how long the best candidate should have been with a prior company.

I come from an old school thought. If I hadn’t lost my job, due to disability, I would likely be in my twelfth year, with the Sheriff’s Office.

I’m trying to get a job in the private sector. It has been extremely difficult. The little feedback I’ve received has been mind boggling and contrary to other advice. Yes, working for the same place, for over a decade has been counted against me.
 

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κολασμένος
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Socrates called. He wants his bit back.


:rofl:
 
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Mr. Awesome
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Biggest ripoff is buying a house, made with $40K in materials and illegal alien labor, then sold to you for the low low price of only $275K + 30 years worth of interest. Financial slavery for most of your life, yet most people are overjoyed to sign the line and get the keys, with no complaints at all. Work all your life to pay it off, and just when you've made the last payment and are about to retire and relax in your home that you FINALLY own, you die and it gets sold to someone else for another 30 years of payments to the bank.
Talking out yer azz I see. You obviously have NO idea of our industry. Sewer taps and permits alone are typically in excess of 10K. Site work, foundation and lumber alone will bury your so called 40K budget. You'd be lucky to make 30/40K on a house in that price range.
 

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Señor Member
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This question was answered in 1976...

1FCC5ECF-FD3C-486A-BD3F-543B479CB7E9.jpeg
 
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Biggest ripoff is buying a house, made with $40K in materials and illegal alien labor, then sold to you for the low low price of only $275K + 30 years worth of interest. Financial slavery for most of your life, yet most people are overjoyed to sign the line and get the keys, with no complaints at all. Work all your life to pay it off, and just when you've made the last payment and are about to retire and relax in your home that you FINALLY own, you die and it gets sold to someone else for another 30 years of payments to the bank.
You're harshing my mellow. :crying:
 

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I just don't see it like the article. Most of us become more conservative as we age. I enjoy being around young people. Some will be more successful than others, as it was in my youth. People of all ages only need a look in the mirror to see who is responsible for their situation and who can improve it. There are many opportunities.
On the subject of homes for $275k, you can get a nice house, in a desirable area for that here. Property taxes are lower than most states as well.

https://www.realtor.com/realestatea...L/type-single-family-home/price-250000-300000
 

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Most of these replies are just wrong. I don't hesitate to call them hogwash.

This idea of 'naming' generations just causes artificial divisions. I'm technically a 'pre-boomer' but, for simplicity, I just call myself an old man.

We believe in higher education, our grandson will get a decent education without a dime in student loans. He's in his senior year of college and will probably start grad school next September.

I bought a house in '86 for $81k and sold it in 2003 for $291k. Not bad considering I had to live somewhere. Our current house has increased in value by $200k+ in the last 3 years. Again, we have to live somewhere, we might as well increase our net worth. It's not a lot but it's better than nothing.

Fundamental to the idea of economics, a thing is worth what the last one sold for. There need be no relationship between cost and price and their usually isn't. Housing is just that way. There's only just so much dirt and they aren't making any more. Worse, lawsuits are preventing some cities from expanding their boundaries if it would encroach on farm land. Too bad, the farmers WANT to sell their excess dirt.

Lots of demand for a scarce resource results in increasing prices. Econ 101 - yes, I took that course. Way back when...

There will probably be a downward blip in home prices as soon as the Covid-19 foreclosures kick in. It might be a good time to buy.
 

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Which one?
I was responding to the OP/thread, not specific to you... just clearing that up. :supergrin:

But basically the bit where the younger generation is always terrible...

"The children now love luxury; they have bad manners, contempt for authority; they show disrespect for elders and love chatter in place of exercise."
 
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Biggest ripoff is buying a house, made with $40K in materials and illegal alien labor, then sold to you for the low low price of only $275K + 30 years worth of interest. Financial slavery for most of your life, yet most people are overjoyed to sign the line and get the keys, with no complaints at all. Work all your life to pay it off, and just when you've made the last payment and are about to retire and relax in your home that you FINALLY own, you die and it gets sold to someone else for another 30 years of payments to the bank.
The answer is simple. Defer buying a house until you've saved enough to buy the lot, buy the materials, and build it yourself.
This is the free market solution.
Am I being serious? Maybe.
 

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Dear Millennials,

In parts of Detroit you can buy an entire city block for $40,000. And its a Democrat's socialist dream....well nightmare but its socialism.

Sincerely,

Every generation before you.
 

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Another View attachment 835800
Thread.

I know a lot of young people that work harder than a lot of older people. People are the same despite generational differences.

What's different now is the rich tilting the system in their favor making it harder for the common folk to get ahead, and the ridiculous echo chambers everyone gets in via social media causing extreme polarization in society.

You old guys and going folks need to get off Facebook and go out and see the world for what it is, not for what advertising based algorithms are telling you to keep you scrolling till you die.
Good post.

My sons, in their 20s and 30s are way more optimistic about the future than I was at their age, I’m in my 50s. That’s despite the extra expenses of today’s world. Heck I never thought my medical insurance, plus deductibles would cost more than my mortgage.

BTW, I’ve done ok but both my sons are on track to be way off better financially in retirement than I will be. So it’s not all gloom and doom out there.
 

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Biggest ripoff is buying a house, made with $40K in materials and illegal alien labor, then sold to you for the low low price of only $275K + 30 years worth of interest. Financial slavery for most of your life, yet most people are overjoyed to sign the line and get the keys, with no complaints at all. Work all your life to pay it off, and just when you've made the last payment and are about to retire and relax in your home that you FINALLY own, you die and it gets sold to someone else for another 30 years of payments to the bank.
Knew I should have gone into banking.
 

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tabula rasa
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Dear young people,
No one owes you a thing.
You got nothing coming.
Make it on your own or you won’t appreciate it anyway.
Sorry life is so unfair, Born and raised in America and you have complaints? Go eat, get in a hot shower, maybe turn the A/C down
and tell your daddy how HARD you have it.
I am there for you.
Not.
 

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Frisky!
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Very old story.
Thousands of years.
:)
 

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The absurdity of mortgaging a home at 30 years simply doesn't occur to many people (in my opinion), even when noting that this is somewhat mitigated by the idea that a home is an appreciating asset.
So, I buy the house for $81k, live there for 17 years and sell it for $291k. The monthly payment, including taxes and insurance, is around $850. So, 17 * 12 * 850 => $173k paid. But I made $210k ($291k - $81k) so the house paid me $37k to live there all those years. Warm and dry with money coming in! Also, during those years, property taxes and mortgage interest were totally deductible and my tax bracket needed those deductions. The Feds subsidized my house while the house poured money in my pocket.

And that's a bad deal? The alternative would be to rent some POS dump for even more money, in a neighborhood I wouldn't want to live in, and not grow any net worth.

I should have kept it (or bought it back during the housing crisis for the offered $139k) because Zillow has it at over $400k today.

There's money to be made in housing. For most people the interest and taxes are still deductible under some conditions. My tax guy understands the rules, I don't!

Not withstanding the 'housing crisis', buying a house, in an appropriate area, is a great way to build wealth while keeping warm and dry.

You have to live somewhere so you might as well increase your net worth while you're doing it.
 

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Just pixels
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Another social change significant for those of us on GT could a more permanent change in the way the Second Amendment is viewed. Obviously all of us have anecdotal evidence to the contrary, but reading this gave me food for thought. What do you all think?
Again just anecdotal, but I think they have a VERY different view 2nd wise that’s much weaker than older generations. For the older folks firearms and the 2nd came from powerful things, like generations of hunting with family members who slowly passed on, being in the military, or even the Cold War, watching nightly News of the leaders of enslaved populations basically saying “Your next”.

I think many if not most of the younger people’s interest in guns comes from playing cool video games. Coming from a “no conflict everyone is sort of right back ground“, I see them lining up and handing guns over and moving onto the next “kewl” thing without a whimper.

Sounds bad, but I’m not really judging as much as it sounds. It’s just one group having “deep roots” vs others more tumbleweed like on the issue.

I see the United States either “Balkanizing” or the 2nd amendment going away in the next 25 years.
 

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The biggest head winds to home ownership here (in this state and county) is the year on year increase in real estate taxes.........................roughly 600 dollars per.



The exodus is underway.
Exact same scenario in this county. 8 years ago I got a great deal on a piece of investment property in a school district to die for. My plans of replacing the older home were abandoned after getting an estimate on the tax increase. The older house is just fine until it is sold off next year, and I'll still make a good profit. That money will be spent on property in a different state.
 
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