Boomers cant afford they houses. boo hoo

Discussion in 'General Discussion' started by bannedman, Jun 17, 2019.

  1. KCCLONE712

    KCCLONE712 Active Member

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    You do it also, and every day. You just don't let yourself realize it. Capitalism 101...

    FYI - This is not an anti-capitalism post, I love capitalism, has worked out great for me so far
     
  2. bannedman

    bannedman Well-Known Member

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    its done **** for me i have nothing and my wifes boyfriend just got a new 2007 silverado jacked up my miata is barely getting me 2 the pet store for work
     
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  3. mtowncyclone13

    mtowncyclone13 Well-Known Member
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    My mom would give us money every year for big things if she could but my dad says we'll see his money when he dies. I don't know why they're so different but (not to be morbid) $250,000 is a lot more meaningful to me with kids in daycare and a mortgage than when I'm 50 and no more big expenses. I suppose that would mean I'd invest it for my own kids and grandkids (and maybe that's his point) but they have enough that giving away money to their kids won't hurt them but would help us a lot.

    Our remaining mortgage is about $105,000 so paying that off would have a huge benefit to us. I can see how people who do get money while young would get a bigger or nicer house thinking they'll never need to save because money will always be there.

    My dad asked me what we pay for cell phone, internet, andTV. $250/month. He was shocked and I said that's probably low for a lot of families.
     
  4. cowgirl836

    cowgirl836 Well-Known Member

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    If you have good jobs with minimal student debt out of college..........you can accumulate savings at a good clip.
     
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  5. JP4CY

    JP4CY I LOVE LAMP
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    That's pre-shuttling your kids to a zillion sports. Not saying that's right or wrong but that's a big chunk.
    We have a large garden but I'm not sure the input cost with time makes up for it in the end. A can of diced tomatoes is pretty damn cheap. Think of all the time spent to accomplish that.
     
  6. jbindm

    jbindm Well-Known Member

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    My parents are the same, as are my wife's. I get it. It's their money and they should do as they see fit with it. And also, they can't possibly know when they're going to pass away or what kind of care they might need as they get older. I mean, I know you can plan for that but only to some extent. I'd rather have it and not need it as I age. When I'm gone my kids can have it.
     
  7. cowgirl836

    cowgirl836 Well-Known Member

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    Agree on the last. We have a garden but by the time you account for the time spent for the return, it probably doesn't save us anything.
     
  8. JP4CY

    JP4CY I LOVE LAMP
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    And you are heating up the hell out of your house when its hot as hell out/running your air.

    We've started to go down the path of less canning and more freezing.
     
  9. Remo Gaggi

    Remo Gaggi Well-Known Member

    Aug 28, 2018
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    I'm a boomer and I can afford my oversized mansion. Not crying a bit. And Polk County keeps on jacking up the value to bring in more cash.

    I burn REAL wood in my fireplace in the winter to help global warming and run the air at 70 in the summer.
     
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  10. cowgirl836

    cowgirl836 Well-Known Member

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    I'm too chickenshit to get into canning. Also seems to take more time. I freeze everything. Blanch the tomatoes first but then boom, tomatoes for spaghetti sauce, soups, peppers for stir fry - done.

    Of course this year I'm burning $$ and time replanting all the stuff that isn't coming up :rolleyes:
     
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  11. BillBrasky4Cy

    BillBrasky4Cy Well-Known Member

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    I don't think most people plant a garden because of the cost savings though. My wife and I plant one mostly because the produce is amazing and there is a sense of reward enjoying the fruits of your labor.
     
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  12. JP4CY

    JP4CY I LOVE LAMP
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    I think my grandmother's era it wasn't so much about the cost, it was that they were a single car household so she couldn't run to the store to purchase stuff and have dinner on the table when grandpa came home.
    The deep freezer and cold cellar dictated a lot of dinners I'm sure.
     
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  13. cowgirl836

    cowgirl836 Well-Known Member

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    I would agree. Most of what we grow is not expensive to purchase. I'd argue the reason for past generations having large gardens was a combo of available time/labor + lack of affordable/easy accessibility to what they were growing. For many of us in suburban/rural America, the latter is not much of an issue but the former is.
     
  14. Tre4ISU

    Tre4ISU Well-Known Member
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    Right out of college I was paying of small student loans and had $800 in rent. Once both of those are gone, you can pencil in a pretty decent home and that's not even considering if you get married and cut out a lot of other costs. I figured it up and monthly, my girlfriend and I would save about $500 in monthly bills/other expenses. I'm fairly cheap in these departments and don't like payments but since I live in a small town, you're looking at a pretty decent home for not a lot more cost than you already have. That doesn't mean I want to take on a $500,000 mortgage but we probably could and we don't make huge money.
     
  15. SEIOWA CLONE

    SEIOWA CLONE Well-Known Member

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    #135 SEIOWA CLONE, Jun 17, 2019
    Last edited: Jun 17, 2019
    I am not saying your are right or wrong, but it was just a slower life style. My in-laws had 2 cars, but they both did not drive them everyday. A gardening was a hobby my FIL enjoyed.
    My in-laws grew up in the Great Depression, my FIL was in WW2, so they only used cash to purchase anything. They basically bought nothing on credit, their idea was if we want it, we will save for it. When he died, we found thousands of dollars that he had squirreled away in the basement and in the freezer, he had purchase quite a few CD's and never told my MIL. He grew up poor, had seen what it was like to have banks close and wipe people out, and he was not going to let that happen to him.

    I always tell my wife, her dad died the best way possible, he had just finished eating Sunday Dinner, rolled back in his chair and they think he was dead before he hit the floor. Massive heart attack. Hopefully they had sex in the morning.

    My FIL, a quiet but very likeable guy, and man he loved to talk about his time in the army. Not in a bragging way, but just what he had seen and done.
     
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  16. Tre4ISU

    Tre4ISU Well-Known Member
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    There were a ton of factors. Women didn't work away from home nearly as much, they didn't make trips to the store every other day, they all had huge pantries, freezer reserves, etc. It's just what you did and it probably was cheaper to do that back then relative to buying it. 15 years ago I would have told it was stupid to hire someone to change your oil too but now I can't afford to do it myself. The stuff to do it gets within 10 bucks of what I can have someone else do it for.
     
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  17. Tre4ISU

    Tre4ISU Well-Known Member
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    I don't think people give enough credit to people living their life by how they grew up. Those people saw times in this country that young people haven't seen anything close to. They've seen credit cards and borrowing for there entire life and it's lead to generations of people thinking that's the norm and the way to live. It's not good. It inflates the big ticket items and will very likely lead to an enormous crash in the economy in time.
     
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  18. ClonesFTW

    ClonesFTW Well-Known Member
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    There's only 3 possible benefits if you're the home owner:

    - Rental property sale
    - Moving to a different market with lesser housing inflation
    - Going from owning to renting
     
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  19. BCClone

    BCClone Well-Known Member

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    Looking at the title of this thread and the OP claiming to be a millennial, I might question the value of a current college degree also.
     
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  20. bannedman

    bannedman Well-Known Member

    Aug 21, 2012
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    i have never cleamed such a thing. i am just repeted what is issued in the article. i cant help it if your small bank account cant aford a subscribe to the wall street j on ur dairy queen salary
     
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