Boomers cant afford they houses. boo hoo

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

  1. Sigmapolis

    Sigmapolis Minister of Economy
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    Most of the value of the degree is sorting on the labor market, anyways.

    When everybody has one, they stop being as valuable as they used to be.
     
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  2. BoxsterCy

    BoxsterCy Well-Known Member
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    Well, ****, I've been doing it all wrong.

    Or is Country Hearth Dakota Style 12-Grain considered "fancy". :confused:
     
  3. cyrocksmypants

    cyrocksmypants Well-Known Member

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    Less valuable in regards to helping you stick out. More valuable that without one, good luck.
     
  4. cyrocksmypants

    cyrocksmypants Well-Known Member

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    It’s gotta be that semi-hard French bread like stuff. The artisan ****.
     
  5. DurangoCy

    DurangoCy Well-Known Member

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    I know a guy (40m), who told me totally straight faced that he's doing a "rent to own" on a $950k house, but it's a great deal, because it should be a $1.2M house. He, his wife, and two kids have been living in one of our other friends 2 million dollar houses/ranches because his business was tanking (had to sell his house) and the other two (who are actually loaded) moved out of town. So rather than sell their mansion, they let them live there at reduced rent for the last couple of years. The dumb guy said, "they just always really loved this other home when they'd drive by it." ...no ****, it's a million dollar house.

    He's done some dumb stuff in the past financially, but this one actually made me sad for him. He's been a high income earner in the past and if he get's his business turned around (I don't think it is yet), he could probably swing it, but the chances he's bankrupt in 2 years just went from 5% to 50%.
     
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  6. 2forISU

    2forISU Well-Known Member

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    Is this guy on the BiggerPockets podcast? That story sounds familaiar....
     
  7. BoxsterCy

    BoxsterCy Well-Known Member
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    Damn, you could totally be describing my parents except the depression influence was my mother who was poor during the depression. My dad's family did okay since his dad had a steady job as a railroad depot agent. Even so, that old world German ethic was to only buy what you could pay cash for.
     
  8. BoxsterCy

    BoxsterCy Well-Known Member
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    True story. I am comfortable in early retirement because I time traveled in 1986 to chat finances with 2016 financial guru @cowgirl836. I did have to convert her Excel spreadsheets to Lotus 1-2-3 but it changed everything for me! :rolleyes:
     
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  9. NWICY

    NWICY Well-Known Member

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    I see how a young man could be tempted by wine and orgies. ;)
     
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  10. DurangoCy

    DurangoCy Well-Known Member

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    #150 DurangoCy, Jun 17, 2019
    Last edited: Jun 17, 2019
    lol, no, but right up their alley. Some of their episodes a great, others sound full of ****.
     
  11. BCClone

    BCClone Well-Known Member

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  12. LincolnWay187

    LincolnWay187 Well-Known Member

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    Someone bookmark this page..when another bust comes along and people want bailouts..just come back to this post to make yourself feel better for saying **** off..shoulda lived within your means.
     
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  13. BCClone

    BCClone Well-Known Member

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    She tell you to buy Microsoft and apple?
     
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  14. BoxsterCy

    BoxsterCy Well-Known Member
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    #154 BoxsterCy, Jun 17, 2019
    Last edited: Jun 17, 2019
    She did not. Something about not ******* with the space-time continuum. ;)
     
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  15. Sigmapolis

    Sigmapolis Minister of Economy
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    It is usually within individual interest to pursue the degree, yes. It is also often within a individual interest to dump toxic waste in the river, you might say, too.

    Both are a huge market failure from a societal/collective standpoint. Just because something benefits the few does not mean it is ultimately good for the many.

    People running a rat race against each other for increasingly ornate, time-consuming, and expensive credentials (when they and the taxpayer have to pay dearly in terms of time and money) when the degrees are ultimately just sorting people into cruddy entry-level jobs is a pretty inefficient system. "Good jobs" are zero-sum. Much education after Grade ~6 just determines the distribution of those jobs between the haves and have-nots.
     
  16. Sigmapolis

    Sigmapolis Minister of Economy
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    What's wrong with Lawrence Welk...?

     
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  17. bannedman

    bannedman Well-Known Member

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    #157 bannedman, Jun 18, 2019
    Last edited: Jun 18, 2019
    @BCClone



    let me qoute your president trump "i never said that".
     
  18. madguy30

    madguy30 Well-Known Member

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    And not sure where this sat financially but my grandma was the same way and I think it also sets the tone for being content with and using what you have as opposed to now where everything has to taste great instead of being valued for its nutrition.

    My gf watches cooking shows and it's amazing how much ****** (by nutritional standards) food they showcase.
     
  19. CascadeClone

    CascadeClone Well-Known Member

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    Depends on the degree. My 2 kids both have ISU degrees (humble brag). One in EE and the other in Psych. Guess which one is making bank, and which one is feeling hopeless?
     
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  20. isufbcurt

    isufbcurt Well-Known Member

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    The real value of a degree is determined years from when you receive it. Meaning

    1. You are less likely to have a manual labor job with a college degree so when your older your body won't have been abused by the work you performed.

    2. Although there are many jobs that pay as well or better in the short run than one with a college degree, in the long run the degree will prove to be more valuable.
     
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