Post: #76

Well I am right between the newer Millenials and Gen Z according to some metrics that say Gen Z started in 1996 or so. I've never even had avocado! T_T

Post: #77

I'm around 30, I'm finally not living paycheck to paycheck (well for the most part), I have no interest in getting a house.

I currently live in house with a relative of mine (I don't pay rent, I pay utilities, maintain the house, installing minor upgrades here and there, even did some wood floors).

To me it seems like something ALWAYS needs upgrading or fixing, I would only buy a fixer upper and rent the house out so someone else would pay my mortgage while my house gains value.

Something like renting condos would make sense, but purchasing a house is YUGE endeavor.

One of my buddies makes hands over first cash working for a very reputable and popular realtor group.

Honestly a little jealous, but he's always had a head start, both his parents were deep in the real estate business before he was a teen, he's always been in it.

I'm just wondering if it's hard to get in at my age, if it would be a worthwhile investment, and if it's smart to mix business with friends. Keep in mind housing bubbles bursts, with the good times, comes the bad.

Post: #78

There is really not much to add as previous posters have accurately described the problem as being dealt a bad hand by the worse generation in history(the boomers).

Automation, jobs in big cities, immigration, bad parenting, destruction of the family, social media addiction all add fuel to the fire of failure and mediocrity.

Having said all this the blame also lies on millenials, we live in one of the most safest and open minded times in history. Its up to us(since i am 30) to see through all the bullshit offered and make the CORRECT DECISIONS. Every decision you make will impact your future no matter how small or redundant it seems.

Its up to the individual to decipher the coded messages that are propagandized through our tv's and phones. Its up to us to the individual to decide if something is worth purchasing. To make a budget and stick with it. To say no to a costly trip or outing with friends. To delay gratification for a greater purpose. To make goals and stick with them no matter what. To learn to be patient, and to choose your friends and acquaintances wisely.

A typical man graduates college at the age of 21-23, by the time you are 30 you have had 7-9 years of decisions under your belt. If you checked the wrong box too many times then you will have nothing in your 30s except debt, complaints and a look of defeat as you ease your mind with weed and other drugs while you become quite gifted at portraying your life as a success through social media to gullible family members that live over 1000 miles away. If you checked the right box most of the time then you should have near a decade of experience under your belt in both career, relationships and knowledge which will help you ease through your 30s.

While i do agree the situation millineals find themselves in is not optimal, its far from severe. The usual complaints sometimes sound like a cry of a childless woman in her late 30s who has checked all the wrong boxes in her 20s and now has nothing but her pets and filtered selfies to keep her company while she fills out her application for a sperm donor.

Post: #79

Guys, this is why we should have elected Yeb. We'd be flush with avocados at cheap prices. And I wouldn't be having to shoot up guac into my veins.

Post: #80

(05-16-2017 03:02 PM)Rhyme or Reason Wrote:  Guys, this is why we should have elected Yeb. We'd be flush with avocados at cheap prices. And I wouldn't be having to shoot up guac into my veins.

This was the future you rejected, and now you must pay the price.

Post: #81

God knows that's why I rent. Two $7 avocado lattes at Starbucks every day, and no, I will not stoop to a coupon.

Post: #82

(05-16-2017 05:04 AM)Leonard D Neubache Wrote:  Sure, you might get ahead, but that doesn't mean you're not going to look around and be happy with what you see developing around you in society.

If that isn't the God's honest truth, I don't know what is. I am doing ok financially, but I'm still surrounded by the degeneracy, misery and ugliness that our economy/current year has unleashed, even if it is only a small minority of the population (which I don't think it is). Even those of us who are doing ok still are surrounded by those who aren't.

Post: #83

I can't help but feel that all this real estate shit going on in the west is a primer for something larger. Something to desensitize us, to make us think about this while the bait is switched.

The population of Vancouver has doubled in my lifetime. So that means that it is not twice as competitive for what is the exact same amount of land. So of course it gets more expensive, its simple math. But is there a breaking point, where the amount of people willing and able to spend the money to live in the nice parts of the city, are less than the amount of homes available, thereby creating a 'buyers market' where those who are cashed up and waiting, can jump into the game.

I can't really see the doom scenario playing out. There are just too many wealthy people, mostly local, that would snatch up distressed properties in the event of a market correction. The fear will generally start in the outer suburbs, and trickle its way through to more desirable areas that might have people who are in way over their heads. But as far as a massive 85% correction like so many of my millennial peers are hoping for, I think its a dream. And if it did happen, there just may be blood in the streets as people have bigger things to worry about then getting into 'the market'.

But about avocado's. Yeah this article is not about avocados per se, but a general mindset among us young. I do know people who are overpaying for rent, in neighborhoods out of their price range, who work at jobs that are cool but underpaid, and do in fact spend $40 on brunch more than a few times in a week, and do drink $14 cocktails on Tuesdays and often have an 8ball of blow. What has changed, and I only noticed this recently, is that many of the guys who got caught up in the Trump election have changed their course to one of action and austerity. Just last week one of my best friends, who was one of these types of fancy living-broke-asses- decided to renovate his cheap rental apartment, work out in the shitty office gym, stop doing recreational drugs, quit smoking, bought some high end clothes from a consignment shop. Time will tell on his success, but after me encouraging him to do this for almost a decade, he has finally seen the light.

Manliness is not running with the herd to mutual destruction. Its stepping aside and building the next plan for your tribe. The thinning of the herd is here.

Just watch the antifa types and their cold, hard, desperation. They know what slipped by, and now its too late.

Post: #84

(05-16-2017 05:14 PM)phluff127 Wrote:  

(05-16-2017 05:04 AM)Leonard D Neubache Wrote:  Sure, you might get ahead, but that doesn't mean you're not going to look around and be happy with what you see developing around you in society.

If that isn't the God's honest truth, I don't know what is. I am doing ok financially, but I'm still surrounded by the degeneracy, misery and ugliness that our economy/current year has unleashed, even if it is only a small minority of the population (which I don't think it is). Even those of us who are doing ok still are surrounded by those who aren't.

Thats why God invented gated driveways: to keep out the riff-raff and ...unpaid post bang SA biznitches.

Post: #85

Crazy high housing and stock markets are really skewing the return on capital Vs return on labour for people under 40.

A 35 year old doctor who went to school for 8 years, spent a few years paying off student loans, and bought a modest house in early 30s because he's not financially reckless, is worse off than a 35 year old government employee who bought the biggest house he could at age 23, upgraded to a bigger house at age 27 and kept the first house after performing a detailed cashflow analysis of "muh rental income".

This lopsidedness​ of success can't last forever, and I think is an indication that something is very out of whack with asset prices in the economy.

Post: #86

The key in a lot of places is immigration (Australia is somewhat special case where extensive Chinese money has come in as well as actual immigrants). Housing will never be affordable to average (or even above average) millennials in popular cities as long as we import millions of immigrants. Read Sailors work on affordable household formation - this is an important part of a functioning society.

Post: #87

In big Australian cities like Sydney and Melbourne, the reason Millennials can't afford to buy a house is not because of the smashed avocado and latte for breakfast. They can save all that money everyday and will still be tens of thousands of dollars behind each year because of the current massive housing bubble we have. While Millennials tend to have poor personal financial habits on average, with depressed wages and vastly higher cost of livings and housing, they simply cannot afford housing even if they suddenly acquire perfect saving habits overnight.

The boomer cunts can shove it. When they bought their houses, the median house was around 2.5~3x the median annual income, and their education was free. Now it's over 12 times and education puts young people in a lot of debts. Their version of "doing it hard" was for example like my parents' friends who did it hard for nearly 3 years (can you imagine that hardship!!! now they're asking the Millennials to do so for 30~40 years) to fully pay off the massive house they're living in now with two part time teachers' salaries, and probably some cash from their parents too. In 2017, two part time teachers can't buy a shit box in the middle of nowhere.

Post: #88

(05-16-2017 05:38 PM)christpuncher Wrote:  Crazy high housing and stock markets are really skewing the return on capital Vs return on labour for people under 40.

It results in a country that is not producing anything worth a damn, and will be poor and broke within a generation or so.

Right now in Australia, we only have a few things that make serious money for the nation:

1: Dig all of our resources up from the ground and sell to China to build more ghost cities

2: Sell overpriced houses to each other, and wealthy Chinese

3: Sell lands and core national infrastructure to China

4: Sell overpriced and useless university degrees to Chinese students (and other idiots with too much cash from overseas)

We are not actually producing anything tangible any longer. This country will be in deep shit for good once the traitors are done selling everything they can get their hands on to China.

Post: #89

Samsamsam,

Sure, it is on us, but there is NO denying that it's 10x harder to own property today than it was 30-50 years ago. No amount of "get tougher faggot!" is going to change this truth. Furthermore, many of us just aren't interested into owning property.

The bottom line is that my generation gets blamed for not wanting to own property when is heavily inflated and simply not worth it. If there were stable, fair-paying jobs in mass we would not even have this thread. Like we keep saying, the elephant in the room is that the economy is not favorable enough for many of us to want to own property.

How is this not important? The truth is, there is no anger about it. I never wanted a white picket fence and all that other stuff. I'm doing what I want. People are still getting sold on this "OMG YOU NEED TO OWN A HOUSE OR....GOD WON'T LOVE YOU" nonsense when house ownership for a young single man is probably not worth it.

Even if I had the dough, I'd rather put it elsewhere while I wait for those prices to finally come down.

Like I already said, why should I sink my hard-earned money into a house and pay for it for thirty years when I can pick up and live in a tier-1 Asian city whenever I please and save more money.

The math is the math and it just adds up better to not own property for a while.

Post: #90

I posted this in another thread several months ago:

(01-27-2017 03:12 PM)Kona Wrote:  I've read from quite a few sources about Trump/Mexico causing a yuuuge spike in the price of avocados.

So you guys know, I have two avocado trees. My dads house has three. My brother has one. I know where at least 25 more are.

If someone wants to come out here and bag them up and sell them, go for it. I don't even like them.

I can find other things to throw at wild chickens.

Aloha!

Problem solved, yet my inbox is empty.

Aloha!

Post: #91

I'm a millennial. Here's my two cents:

We are not very good with money.

I don't consider my early adulthood path too special, but I took a few years to fuck around after highschool and went into community college in my early 20's. With a 2-year degree I was able to land an entry level job as a cubicle ant. I lived at home until my mid-20's and then moved into a rental. A few years later I moved across the country and landed a better job with more pay.

High rent payments, financing a car coupled with high auto insurance, expensive cell phone bill, going out a lot with friends etc. I'm not saving, I'm just consuming constantly.

I'm making pretty good money now - definitely enough to afford a decent home on my own, but I have no money saved up to put down on a property and fucked myself with credit cards over the past few years so I have a low credit rating so I am not able to get a mortgage.

I could have rented a cheaper space. I could have bought an older cheaper car that I could own outright and not make payements on which would also make my insurance cheaper - or at least keep the car I made payments on instead of trading it in for another debt. I could have been more diligent with my credit cards so now they would actually be making my credit look great instead of bad. I could have been more conservative with my consumption and put a chunk of my income in savings instead of letting it burn a hole in my pocket.

Most people my age live this way. That is why we can't afford houses. We spend lots and save none.

Post: #92

(05-16-2017 08:43 PM)Kona Wrote:  I posted this in another thread several months ago:

(01-27-2017 03:12 PM)Kona Wrote:  I've read from quite a few sources about Trump/Mexico causing a yuuuge spike in the price of avocados.

So you guys know, I have two avocado trees. My dads house has three. My brother has one. I know where at least 25 more are.

If someone wants to come out here and bag them up and sell them, go for it. I don't even like them.

I can find other things to throw at wild chickens.

Aloha!

Problem solved, yet my inbox is empty.

Aloha!

Can zebras eat avocados?

Asking for a friend...

Post: #93

(05-16-2017 08:01 PM)StrikeBack Wrote:  It results in a country that is not producing anything worth a damn, and will be poor and broke within a generation or so.
Right now in Australia, we only have a few things that make serious money for the nation:
1: Dig all of our resources up from the ground and sell to China to build more ghost cities
2: Sell overpriced houses to each other, and wealthy Chinese
3: Sell lands and core national infrastructure to China
4: Sell overpriced and useless university degrees to Chinese students (and other idiots with too much cash from overseas)
We are not actually producing anything tangible any longer. This country will be in deep shit for good once the traitors are done selling everything they can get their hands on to China.

The ultimate joke being. As an island nation rich in resources, with plenty of farm land & even plenty of water to desalinate if needed.
Australia is one of the few nations that could seal it's borders, become wholly isolationist & would still have the means to thrive.

However..., homosapiens is, as homosapiens does.

Post: #94

This is one of those issues where some people are talking about personal finances and others are talking about societal trends, neither of which are related on a tangible level.

I could open up a payday lending branch in my sleepy little town with notable unemployment rates and probably make a shit-ton of money. This would benefit me in a financial sense. My town? Not so much.

Gated mansions are nice, sure. But are they democracy proof? Are they communist-revolution proof? Are they even gang proof?

Post: #95

Nowadays, to lead an exceptional life, you need to be an exceptional person. It sounds trite, but I think millennials have to start realizing that life in America isn't on easy mode (relatively speaking) as it was for the Baby Boomer's generation. To have that American dream lifestyle today, you either have to really kill yourself in the work/entrepreneurial grind and make a shit ton of money, or option B: embrace minimalism and not worry so much about property, eating out, luxury goods, flashy cars, etc... all things Americans seem to love.

Either make a lot more money, or perhaps an even more difficult feat - manage your expectations.

Post: #96

(05-16-2017 09:49 PM)booshala Wrote:  Nowadays, to lead an exceptional life, you need to be an exceptional person. It sounds trite, but I think millennials have to start realizing that life in America isn't on easy mode (relatively speaking) as it was for the Baby Boomer's generation. To have that American dream lifestyle today, you either have to really kill yourself in the work/entrepreneurial grind and make a shit ton of money, or option B: embrace minimalism and not worry so much about property, eating out, luxury goods, flashy cars, etc... all things Americans seem to love.

Either make a lot more money, or perhaps an even more difficult feat - manage your expectations.

I am firmly in Camp B - everyone I know who's got a house is stressed the fuck out, and often accompanied by a frumpy wife and shrieking kids. All because they wanted their "own backyard" and "but when you rent you're just giving money away!"

Me, I am cool as a cucumber in my 1 br apartment. Have fun with your "fixer uppers" and all

Post: #97

My dad paid 18% interest on his first house in the early 80s, I'm currently paying 2.19% (2 year fixed term), I currently make twice as much as he did as a public school teacher at the end of his 30 year career. I also have a notch count that is likely ten times his and the poor guy probably never stuck his dick in an Asian or Latina pussy. Anyway, cheer up guys, us MilenNials don't always have it that bad.

Post: #98

This thread is way to dense. So many gems. I can't even comment as I would write a fucking long form trying to reply. Top 10 thread of the year worthy for sure.

Post: #99

(05-16-2017 07:55 AM)Sonoma Wrote:  He's not wrong. I'm in my 20s, my house is over 800,000 and that's on an entry level salary plus wife working part time.

I think a lot of people make excuses for why they can't afford a down payment when they don't realize how cheap and accessible a mortgage is.

I have another friend who lives 30 minutes away living in a fixer upper he bought for 250,000 with 10,000 down. I think a lot of millennials don't plan to buy a house, but they don't realize how affordable it is, and instead just bitch it's impossibly expensive.

You can qualify for a house with payments being 45% of your gross income.

Example: You're earning 15 dollars an hour at some shit job, you put in overtime regularly and gross about 3,000 a month. That's enough to qualify for about a 150,000-200,000 mortgage, depending on your other debts. If you did the 150,000 mortgage, you could also be able to do 10% or less down.

In California a mortgage like that isn't putting you near any urban areas, but in most parts of the country you can live in the suburbs

What you say is mostly true, but misses a few key points. Monthly payment is not the only cost of a house, especially for a 20-something millenial. When 20-year-olds were getting married and having children, and the typical working class person could reasonably expect to work for the same employer for 40 years, then taking on the responsibility of a house was reasonable. For modern millenials, it doesn't make sense. A typical millenial is better served paying as little of their income as possible (<25%) for a small apartment with a roommate. They can spend less on furniture and spend less time keeping it clean. They don't have to worry about maintenance or mowing the lawn. Plus, roommates are often good for improving social opportunities. They can keep their $10k down payment in the bank (if they even have that much, I did not until I was almost 35) and keep adding to it from what they're saving on monthly payments. This cash can be used to pursue social or business opportunities. Finally, they can up and leave any time they want, with maybe a year-long lease and security deposit being the extent of commitment necessary.

You can argue that the delayed marriage and extended adolescence of our culture is problematic, but that doesn't help the millenials who actually have to live it. And there's likely no going back whatsoever to the stable 40-year tenure for a worker at a manufacturing company.

Add to that the reality of foreign investment in real estate in most major cities, such that homes are now far more expensive relative to the median income than they were 30 years ago, and that pretty much explains entirely why millenials aren't buying homes.

Post: #100

Also 45% of monthly income for a mortgage payment is very high. That's a big investment.

You still have to pay for food, transportation, utilities, healthcare, and student loans if you have them. That will eat up $36K really fast even if you aren't buying any Avocados.