quote:
I don't need student loans. I'll actually probably have anywhere between 20k and 30k in the bank with no debt when I graduate. And no it's not from family or anything like that.

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Posted by deeprig9

Unincorporated Ozora, Georgia

Member since Sep 2012

63965 posts

Posted on 5/23/15 at 9:40 pm to wmr

quote:
I'm not technically a millennial but millennial-adjacent late GenX. Housing prices are the biggest challenge. Anywhere with good employment opportunities, housing is priced out of range. A good example of how its so different today vs the past: My grandparents bought a nice suburban home for 5,000. By the end of their working lives in the 1980s, neither with college education, they were pulling down combined salaries of at least 45,000.

At any point in your lifetime, will you be making 9 times the amount that your home costs now? Not fricking likely. Will you ever have a yearly salary of even twice what your home costs today?

Apart from some smaller developing areas, and I think NWA is still one of those unique growth areas, the housing price to wage imbalance is the biggest challenge.

This.

My parents have said "Can't you go buy a little ranch starter home for $65k?"

You can't buy a fricking trailer for 65k.

You can't buy a fricking truck for 65k.

Inflation is out of control.

All of you who think QE is just MAGMA jibber jabber .... this is what it is. You can't buy shite because shite is too expensive.

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