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Posted on 5/23/26 at 12:02 pm to Wwarmouth
First of all, I agree that things are very tough right now. We’re on the tail end of an asset bubble fueled by ZIRP since 2008 and COVID money. Also, years of bad policy and a credit bubble. I’ll address that at the end.
Secondly, it’s a myth that it was so easy for earlier generations. Costs are definitely higher but so are incomes. My first real job in 1996 was thrilled to get $30k per year. A 16 yr old bagging groceries full time at Publix can make that now. Nobody considered buying a house until they had a dual income and could save money. This whole concept that everyone should be able to afford a home is new and false. It’s been created to sew discontent or fuel govt programs. And I won’t even talk about having my retirement cut in half due to recessions a couple of times.
My first house came with an hour commute because I could not afford a place in the “cool” part of Charlotte. We got the down payment from my FIL because we had a very small wedding. I didn’t think about it or complain. The desirable locations have always been expensive.
Also, I work with a number of millennials that make more money than I do. I have cousins and other relatives that are younger and doing well. Good decisions will always succeed over poor ones.
Both of my parents have one of those damn boomer pensions” which I’m thankful for. The trade off was they made next to nothing their whole careers. I was out earning my parents in my early 30’s. So yeah, that was a sacrifice that they made for the payoff. I have friends that were teachers that already retired…anyone in this board could’ve made the same decision.
As for the overall gripe, you are correct that POLITICIANS screwed everything up. Don’t let them convince you is a faceless segment of the population…. if it wasn’t for “boomers” we’d have gone far left years ago. This is how TPTB and elites deflect the weak minded to hate each other and not them.
Replace “boomers” with “politicians” or “elites” and it’s accurate.
Replace it with “white people” and you just made an argument for reparations. See how that works?
Secondly, it’s a myth that it was so easy for earlier generations. Costs are definitely higher but so are incomes. My first real job in 1996 was thrilled to get $30k per year. A 16 yr old bagging groceries full time at Publix can make that now. Nobody considered buying a house until they had a dual income and could save money. This whole concept that everyone should be able to afford a home is new and false. It’s been created to sew discontent or fuel govt programs. And I won’t even talk about having my retirement cut in half due to recessions a couple of times.
My first house came with an hour commute because I could not afford a place in the “cool” part of Charlotte. We got the down payment from my FIL because we had a very small wedding. I didn’t think about it or complain. The desirable locations have always been expensive.
Also, I work with a number of millennials that make more money than I do. I have cousins and other relatives that are younger and doing well. Good decisions will always succeed over poor ones.
Both of my parents have one of those damn boomer pensions” which I’m thankful for. The trade off was they made next to nothing their whole careers. I was out earning my parents in my early 30’s. So yeah, that was a sacrifice that they made for the payoff. I have friends that were teachers that already retired…anyone in this board could’ve made the same decision.
As for the overall gripe, you are correct that POLITICIANS screwed everything up. Don’t let them convince you is a faceless segment of the population…. if it wasn’t for “boomers” we’d have gone far left years ago. This is how TPTB and elites deflect the weak minded to hate each other and not them.
Replace “boomers” with “politicians” or “elites” and it’s accurate.
Replace it with “white people” and you just made an argument for reparations. See how that works?
This post was edited on 5/23/26 at 12:07 pm
Posted on 5/23/26 at 1:20 pm to SquatchDawg
Yes we agree that politicians shoulder a lot of the blame. Lobbying crony capitalism too imo
Of course you can still be successful and make a lot of money. My wife and I both have great jobs but the money doesn't go as far as it should or would have even 10 years ago. Wages have not kept up with inflation and it's not particularly close. Easy things like increasing the limit for the childcare FSA could be done to help but those aren't priorities to the politicians that have been in power. And then they wonder why young people aren't having children. (Trump did bump it up a measly 2500$. That's like a month and a half of childcare.)
For homes, saving up 20% for the average home was attainable even without gifts from parents when the houses costed 150k. Now, not so much. But that's been the norm for a few years now so you adjust and do what you can. The annoying thing is when that is going on and then you get this dumb arse war that disrupts the global economy, raises interest rates and inflation, raises oil prices and fertilizer prices which makes food cost more....it pisses people off. Gen Z are shifting to the extremes of the right and left because this two party shite we have now doesn't work for the average young person...that's why you get Madamni and that's why a lot of young people voted for trump and then he turned into Israels bitch and screwed everything up.
Of course you can still be successful and make a lot of money. My wife and I both have great jobs but the money doesn't go as far as it should or would have even 10 years ago. Wages have not kept up with inflation and it's not particularly close. Easy things like increasing the limit for the childcare FSA could be done to help but those aren't priorities to the politicians that have been in power. And then they wonder why young people aren't having children. (Trump did bump it up a measly 2500$. That's like a month and a half of childcare.)
For homes, saving up 20% for the average home was attainable even without gifts from parents when the houses costed 150k. Now, not so much. But that's been the norm for a few years now so you adjust and do what you can. The annoying thing is when that is going on and then you get this dumb arse war that disrupts the global economy, raises interest rates and inflation, raises oil prices and fertilizer prices which makes food cost more....it pisses people off. Gen Z are shifting to the extremes of the right and left because this two party shite we have now doesn't work for the average young person...that's why you get Madamni and that's why a lot of young people voted for trump and then he turned into Israels bitch and screwed everything up.
Posted on 5/23/26 at 8:46 pm to Wwarmouth
quote:
For homes, saving up 20% for the average home was attainable even without gifts from parents when the houses costed 150k
This is the only part I disagree with you on because piling up $30k back then on the salaries we had while paying rent was no easy feat. Plus rates then were 7-8%. My SIL had a big wedding and the FIL was committed to the same amount. So we did a service at the church and reception at their house….and pocketed the rest.
How many modern women would agree to forego the elaborate wedding for a home down payment? I’m lucky….my wife is cheap to a fault.
The turning point for everything was when we decoupled from gold in 1971. Every chart showing anything…debt, income inequality, home prices, etc. all ramps from that point. Our economy is like a ballon….the more air you put in it the further the two sides get apart. There have always been rich people - but not to this degree.
What’s going to have to happen is another debt crisis. It was as recent as 2008 when everyone thought the world was ending and you could buy RE at fire sale prices because everything was frozen. You had to have cash. My fear though is the next one is going to be a sovereign debt crisis….but I’ve been worried about that for almost 20 years.
I won’t tell you what I would do at 26 today because you don’t want to hear it. All I will say is avoid debt, live cheap, max retirement and hoard cash. When the bubble pops that cash will be your weapon.
This post was edited on 5/23/26 at 8:49 pm
Posted on 5/23/26 at 9:25 pm to Wwarmouth
quote:
The annoying thing is when that is going on and then you get this dumb arse war that disrupts the global economy, raises interest rates and inflation, raises oil prices and fertilizer prices which makes food cost more....it pisses people off.
Agreed. This war is temporary though. But for the record it was an unforced error. Hell maybe this news about a hit on Ivanka was behind it.
The bigger issue is that everything described can be reversed. It’s just our congress is worthless. I know the Dems are crazy but it’s the Pubs that always talk a bunch of shite and then never do any of it when they get a chance.
Posted on 5/23/26 at 9:31 pm to SquatchDawg
The actual problem was when we packaged residential housing into securities to sell off to international markets and further blown up by the monetization of vacancy of everyday properties that make far more money at $200 a night on ABB or VRBO than being empty or low monthly rents.....
Posted on 5/23/26 at 9:54 pm to lewis and herschel
Man…where do I begin.
Securitization and marketing of debt (that’s not bond issuances) or guaranteed backing of debt is a HUGE problem. There’s no underwriting because it doesn’t matter. The SEC should walk that back immediately although it would impact the feel good “everyone should be able to buy a house” crowd.
Imagine if the lender had to own the risk of their loans? You’d see a huge restriction of capital immediately….which would cause a crash….but is needed. Also, said lender would need to compete for capital so savers get better rates. Anything you can borrow money to get has gone up exponentially…think about that.
If you can afford a house you VRBO, more power to you but if debt service is higher maybe it’s not as easy?
PE is interesting. If you value free markets how do you stop money from acquiring real estate? That said, if their debt service is where it should be then maybe they can’t get the return they want.
The key is rates and anyone clamoring for lower rates doesn’t know what they’re talking about IMO. We need higher rates to flush out this inflation and to force the outside forces from buying residential RE as an asset. We need a restriction on credit to offset the effects of ZIRP and the $2M CoVID money that got pumped in and IS STILL THERE in the budget.
Our government is not set up to accommodate serious people making hard decisions. Or maybe the public is too stupid to tolerate that … or both. It’s a bunch of narcissistic lawyers that are all trying to line their pockets while they can and not rattle the status quo.
As many flaws as Trump has, he had the opportunity to be a game changer with DOGE and his basic platform. But like so many others he got sucked into the web of deceit and influence in DC. At least we got a few of these RINOs primaried.
Securitization and marketing of debt (that’s not bond issuances) or guaranteed backing of debt is a HUGE problem. There’s no underwriting because it doesn’t matter. The SEC should walk that back immediately although it would impact the feel good “everyone should be able to buy a house” crowd.
Imagine if the lender had to own the risk of their loans? You’d see a huge restriction of capital immediately….which would cause a crash….but is needed. Also, said lender would need to compete for capital so savers get better rates. Anything you can borrow money to get has gone up exponentially…think about that.
If you can afford a house you VRBO, more power to you but if debt service is higher maybe it’s not as easy?
PE is interesting. If you value free markets how do you stop money from acquiring real estate? That said, if their debt service is where it should be then maybe they can’t get the return they want.
The key is rates and anyone clamoring for lower rates doesn’t know what they’re talking about IMO. We need higher rates to flush out this inflation and to force the outside forces from buying residential RE as an asset. We need a restriction on credit to offset the effects of ZIRP and the $2M CoVID money that got pumped in and IS STILL THERE in the budget.
Our government is not set up to accommodate serious people making hard decisions. Or maybe the public is too stupid to tolerate that … or both. It’s a bunch of narcissistic lawyers that are all trying to line their pockets while they can and not rattle the status quo.
As many flaws as Trump has, he had the opportunity to be a game changer with DOGE and his basic platform. But like so many others he got sucked into the web of deceit and influence in DC. At least we got a few of these RINOs primaried.
This post was edited on 5/23/26 at 9:57 pm
Posted on 5/24/26 at 7:37 pm to SquatchDawg
Guyz!, let’s not get distracted. If we just finally elect the right people , itll all work out!
Posted on 5/25/26 at 10:10 am to Wwarmouth
quote:quote:
Baby boomers
quote:
It goes to 1964
What a load of crap
The correct generation would the generation born from the generation that spent their youth with
World War I
World War II
The Great Depression
The Spanish Flu
The Dust Bowl
Any one of these things would have not been survivable in generations since because the generation before had been tested by fire. While you can not blame them for wanting to afford everything they did not have, they spoiled their kids rotten in the process. Anytime you enable a generation like that you get arrogance and entitlement.
Perhaps viewing it as kids not only born after the war but the kids still young enough during the war ands maybe late 30's. 20 years per generation and "Boomers" look more like this ..
37 to 57
38 to 58
39 to 59
40 to 60
41 to 61
At my age, you can argue a year or two but I would go 39' to 59' by observation which would exclude anybody born in the 1960's. Those early 1960's kids will not accrue the benefits or the protections and should actually be considered the next generation after the Boomers.
Posted on 5/25/26 at 12:59 pm to Cheese Grits
Squatch is mostly spot on.
The wealth gap is bullshite fake news.
But everything else is close to a T.
The wealth gap is bullshite fake news.
But everything else is close to a T.
This post was edited on 5/25/26 at 1:05 pm
Posted on 5/26/26 at 6:00 am to SquatchDawg
It was easier than saving 80k lol
And rates may have been that high but the houses were still reasonable so the monthly payments were much less even with rates in the 7s.
We had no wedding just a small reception, no honeymoon. Live an hour away from my job. Had two paid off cars, but had a baby and had to get a bigger safer vehicle...oh what's that? Used cars have never been higher? Sweet.
Everything is more expensive. It doesn't mean you guys didn't work hard or manage your money well, but it is an accepted fact that the cost and living has never been more expensive.
And rates may have been that high but the houses were still reasonable so the monthly payments were much less even with rates in the 7s.
We had no wedding just a small reception, no honeymoon. Live an hour away from my job. Had two paid off cars, but had a baby and had to get a bigger safer vehicle...oh what's that? Used cars have never been higher? Sweet.
Everything is more expensive. It doesn't mean you guys didn't work hard or manage your money well, but it is an accepted fact that the cost and living has never been more expensive.
This post was edited on 5/26/26 at 6:01 am
Posted on 5/26/26 at 6:02 am to SquatchDawg
Isreal was behind it man. We were close to a deal and now all of sudden trump wants Saudi Arabian and Pakistan to sign the Abraham Accords. Gee, I wonder who benefits from that. Insane that a foreign country brought us into the war and now won't let us leave it.
Posted on 5/26/26 at 6:04 am to Cheese Grits
You know these generations are not my opinion right? Like sociology people create these. The boomers go from the 1940s to the 1960s. Didn't tread your novel but those are the facts
Posted on 5/26/26 at 6:04 am to meansonny
What wealth gap is fake news?
Posted on 5/26/26 at 8:37 am to Wwarmouth
quote:
You know these generations are not my opinion right?
Yes, it was not personal to you
quote:
Like sociology people create these.
It is more media in general. Facts get distorted because someone is lazy or clever over research and substance. The key to making this country survive is to be smart individually and work together as a people. Dumbing folks down and having them fight with each other is the opposite of a Democratic Republic.
Posted on 5/26/26 at 9:16 am to Wwarmouth
quote:
What wealth gap is fake news?
quote:
The turning point for everything was when we decoupled from gold in 1971. Every chart showing anything…debt, income inequality, home prices, etc. all ramps from that point. Our economy is like a ballon….the more air you put in it the further the two sides get apart. There have always been rich people - but not to this degree.
Squatch is wrong on this point.
Both blaming fiat currency and expressing a wealth gap.
Posted on 5/26/26 at 5:39 pm to meansonny
I mean there is obviously a wealth gap. Really multiple. If you owned property pre 2019 you are in a different world compared to those buying after
Also multiple tiers of justice
As seen below
Also multiple tiers of justice
As seen below
Loading Twitter/X Embed...
If tweet fails to load, click here. Posted on 5/26/26 at 5:41 pm to Wwarmouth
quote:
I mean there is obviously a wealth gap
First world to second world?
Sure. You got me.
The rest is just mathematical standards.
People dont understand the concept of 0 and compounding returns.
Posted on 5/26/26 at 5:42 pm to Wwarmouth
Posted on 5/26/26 at 6:33 pm to Wwarmouth
Sounds like an exponentially bigger Learing center. It's Artificial Learing which is way more enrichy then Artificial intelligence....
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