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re: WSJ Piece: Young Americans Are Getting Left Behind by Rising Home Prices, Higher Stocks
Posted on 4/27/24 at 6:00 pm to fallguy_1978
Posted on 4/27/24 at 6:00 pm to fallguy_1978
quote:
They weren't by and large the generation making policy decisions 35 years ago. Many of the people in charge today (Biden, Pelosi, McConnell) are older than Boomers.
They were beneficiaries of being born at an opportune time in the US, and I'm not saying they aren't partly responsible for the current state of the country either.
They absolutely were as they are the most populous generation in American history and at the current rate they will never be surpassed.
1
Posted on 4/27/24 at 6:01 pm to fallguy_1978
quote:
I think the term Boomers has just become synonymous with old people. The youngest of them are around aged 60 and probably still working. The oldest are late 70s. They weren't by and large the generation making policy decisions 35 years ago. Many of the people in charge today (Biden, Pelosi, McConnell) are older than Boomers. They were beneficiaries of being born at an opportune time in the US, and I'm not saying they aren't partly responsible for the current state of the country either.
I think Boomers probably get a bit too much hate at the national level, but not nearly enough hate at the local level. They’ve dominated city/metro councils, school boards, etc, etc for decades. And most of the NIMBY bullshite responsible in part for massive housing issues falls squarely in their lap.
Posted on 4/27/24 at 6:05 pm to tiggerthetooth
quote:
They absolutely were as they are the most populous generation in American history and at the current rate they will never be surpassed.
You think people aged 43-25 were mostly running the country 35 years ago? We are a nation ruled by geriatrics on average. Old people clinging to power.
If anything, I'd surmise that more Boomers are running businesses and government right now than they were in 1992.
Posted on 4/27/24 at 6:12 pm to fallguy_1978
quote:
They weren't by and large the generation making policy decisions 35 years ago. Many of the people in charge today (Biden, Pelosi, McConnell) are older than Boomers.
The oldest ones are 78. They've been the largest voting block since the early to mid 80's.
Since then NAFTA was passed, Modern Monetary policy was embraced by the left and right, immigration was increased, universities were overly subsidized and then unsubsidized once they finished school, and most local zoning and occupational license requirements were implemented.
I know it's stupid to blame an entire generation but it's kind of hard not too especially with all the stupid takes you see them post on social media.
Posted on 4/27/24 at 8:27 pm to DitkaAndDaBoers
quote:
Add a room.
Exactly what I'm thinking. Do the math to expand the house!
Posted on 4/27/24 at 9:01 pm to fallguy_1978
quote:
anything, I'd surmise that more Boomers are running businesses and government right now than they were in 1992.
Well no shite, they have the time and the wealth to do so, not to mention the social gravitas
Posted on 4/27/24 at 9:08 pm to Displaced
Knowing you would be moving soon, were you not squirreling away the savings from the low interest rate the last few years?
Posted on 4/28/24 at 12:25 am to ragincajun03
You know they are right, I am getting left behind and in light of that I think some reduced income and property taxes would likely be of major assistance to me to help me catch up
Posted on 4/28/24 at 1:02 am to North Dallas Tiger
quote:
hurry up and retire already and move out that McMansion
I just built one.
Posted on 4/28/24 at 1:12 am to ragincajun03
quote:what is their monthly income and what is their discretionary spending? Sorry if that was mentioned...
Anthony and Caitlin Fumo expected their well-paying jobs and chunk of savings to support a move closer to their parents in the suburbs of New Jersey.
Posted on 4/28/24 at 1:23 am to ragincajun03
Trusting the FED to supply an honest economic analysis is like trusting China to supply honest Covid information. Literally nothing they do is in our best interest. Their existence is against the interest of this country.
Posted on 4/28/24 at 7:06 am to ragincajun03
quote:True.
But when you think about it, the current 7% to 8% if what 80s and early 90s babies' parents were used to as the norm.
But it doesn't help Gen-Y folks who put off ownership.
Posted on 4/28/24 at 8:49 am to Joshjrn
quote:
Feel free to support Trump in spite of this fact, but please spare us all the “Trump will right the fiscal ship” nonsense.
Never said that Trump would right the ship fiscally, Trump was spending money but do you have the graph for the Biden years yet? These “pie in the sky” green programs to help underserved communities are colossal wastes of money like the one I cited previously.
CNN tracked Trump’s promises but I’ve yet to find what Biden has actually accomplished other than spending a lot of money.
Posted on 4/28/24 at 9:04 am to ragincajun03
simple all the shite hole cities and bad crime area are places with people who have credit scores under 500.
so what we do is obvious
housing crime problems are solved.
when your credit goes below 500 you are safe other wise shipped to haiti or a nice labor camp building the wall where they can learn a skill or they get put behind the wall.
gentrification would provide plenty of jobs.
so what we do is obvious
housing crime problems are solved.
when your credit goes below 500 you are safe other wise shipped to haiti or a nice labor camp building the wall where they can learn a skill or they get put behind the wall.
gentrification would provide plenty of jobs.
Posted on 4/28/24 at 9:15 am to Rick9Plus
quote:
My neighborhood has more renters these days than ever. I bet they are paying twice my mortgage in rent.
Same here. Lived in my cul de sac for 24 years. We now have three rental homes in my circle. Luckily two of the owners still live in the subdivision and charge a high rent. All three have good folk living in them but vey different than the previous years.
Posted on 4/28/24 at 9:20 am to bad93ex
quote:
Never said that Trump would right the ship fiscally, Trump was spending money but do you have the graph for the Biden years yet? These “pie in the sky” green programs to help underserved communities are colossal wastes of money like the one I cited previously. CNN tracked Trump’s promises but I’ve yet to find what Biden has actually accomplished other than spending a lot of money.
Biden has spent more, but he encouraged the raising of interest rates. Trump spent a bit less, but aggressively argued to keep the key rate at zero, at one point even arguing it should go negative.
In my opinion, both are equally responsible for the rampant inflation we’ve seen in this country over the last few years.
Posted on 4/28/24 at 9:37 am to ragincajun03
quote:
But when you think about it, the current 7% to 8% if what 80s and early 90s babies' parents were used to as the norm.
Houses didn’t cost $400k in the 70s and 80s.
Posted on 4/28/24 at 9:42 am to Joshjrn
quote:
love that an entire generation views themselves as housing investment geniuses because they were able to buy reasonable starter homes in attractive areas and then got to watch their equity skyrocket over the course of their lives because they kept supporting restrictive NIMBY zoning bullshite
You do realize that they came of age in the 70s when we had stagflation? And had to face double digit interest rates?
Still better than now in terms of housing, since affordability is the worst in history, but that's the fault of Blackrock.
Stocks don't belong in the discussion. There's never a bad time for a young person to jump into the market. If it doesn't grow in the long run they're boned anyway.
Posted on 4/28/24 at 10:16 am to Joshjrn
quote:
In my opinion, both are equally responsible for the rampant inflation we’ve seen in this country over the last few years.
Which is the lesser of the two evils?
Posted on 4/28/24 at 10:31 am to bad93ex
quote:
Which is the lesser of the two evils?
Neither. Until one of the major parties gets their heads out of their asses, I’ll continue to vote third party.
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