Poor millennials

nick87 said:
If you say so... I have no idea what the bracket is...I'm 35. Going on about 54
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54 hell I’m 33 going on 84. I was in bed at 8 last night, up at 2:00. I’ve been bitching about daylight savings time and how it needs to be light out earlier to get all the deadbeat gen Zers outta bed. While throwing a fit because I’m technologically challenged and can’t make f#%*^! Email work. Drank about a whole pot of coffee. Other than not needing viagra and not getting up to pee every 15 minutes I’m old as hell.
 
ajrcktts said:
Boo!!! I will always push back on this narrative, at least for my age group.

Born in '87, Associate Degree education (finished in my late 20's), own 3 houses. I bought my first at 22 at the bottom of the market in 2009 (still own, now an Airbnb), bought another for family to live in close by at 30 (still own, admittedly tiny condo, family pays the mortgage), and bought my most recent at 34 last year (current primary home).

Sure, that first house made a significant impact on my ability to buy to the others, but if you're an older millennial you were likely of buying age during the bottom and lows of the market in 2008 and subsequent years. I had to borrower over $800 of my $1,000 earnest money from a friend and then paid them back with the first time homebuyer grants being handed out like candy during that time (thanks Obama, for real LOL). At the time for us it was $100/month more expensive than renting, but we went from a 1/1 with 750 SF to a 3/2 with 1,600 SF, plus future appreciation. It was a no brainer.

Yes, I had spousal income support. We were both making about $15/hour when we got married and bought that first house for $156K. No doubt it is much harder now, but my age group had a good chance for a while. Shoot, my FL house appraised for $275K in 2017 when we refinanced. Assuming another $600/month in other debt payments and a 40% DTI cap, an individual or couple only needed to be making +/- $70K to qualify for that mortgage. Down payment and closing costs would have been +/- $10K-$20K depending on the loan program (that would probably be the biggest challenge, but you're talking $1K - $2K per year in savings from 20 - 30 years old. Definitely doable.). But there were plenty of markets cheaper than that at the time.

Big, fat, qualifier: The market right now is crazy, of course. But if you've been an adult for a decade or more, there was reasonably affordable housing to be had for a stretch of time (and potentially very affordable housing for a short period of time).
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So you’re the one

1655205132026.gif
 
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Stocker said:
It’s simple really, the greatest generation came home from war. They raised a bunch of hippie boomers, who in turn raised a bunch of hard partying gen Xrs and now us millennials are here to clean up the mess. Before you go talking smack remember who is paying for your SS and Medicare. We aren’t afraid to quit our jobs and live with our parents just to watch you old bastages not be able to afford your viagra, cable tv to watch Fox News, and the electronics you have no idea how to use.

View attachment 225939
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THATS RIGHT YOU BASTAGES
 
If any of you know what generation made my 401K drop 3% overnight could you please let me know.....I would like to thank them, because I'm in the buying stages of life right now.

I would hate to be retired right now looking at my account....Unless, I had plan to stash all of my money in cash, torpedo the economy, and when it fell far enough, jump all of my my money in specific ETF's knowing that November 2022 is right around the corner.....Almost makes you wonder if this wasn't an attack from within for personal gain.
 
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Stocker said:
54 hell I’m 33 going on 84. I was in bed at 8 last night, up at 2:00. I’ve been bitching about daylight savings time and how it needs to be light out earlier to get all the deadbeat gen Zers outta bed. While throwing a fit because I’m technologically challenged and can’t make f#%*^! Email work. Drank about a whole pot of coffee. Other than not needing viagra and not getting up to pee every 15 minutes I’m old as hell.
Click to expand...
Do you and @nick87 even poop solid turds yet, or is it still the mustard yellow kind?
 
ajrcktts said:
Boo!!! I will always push back on this narrative, at least for my age group.

Born in '87, Associate Degree education (finished in my late 20's), own 3 houses. I bought my first at 22 at the bottom of the market in 2009 (still own, now an Airbnb), bought another for family to live in close by at 30 (still own, admittedly tiny condo, family pays the mortgage), and bought my most recent at 34 last year (current primary home).

Sure, that first house made a significant impact on my ability to buy to the others, but if you're an older millennial you were likely of buying age during the bottom and lows of the market in 2008 and subsequent years. I had to borrower over $800 of my $1,000 earnest money from a friend and then paid them back with the first time homebuyer grants being handed out like candy during that time (thanks Obama, for real LOL). At the time for us it was $100/month more expensive than renting, but we went from a 1/1 with 750 SF to a 3/2 with 1,600 SF, plus future appreciation. It was a no brainer.

Yes, I had spousal income support. We were both making about $15/hour when we got married and bought that first house for $156K. No doubt it is much harder now, but my age group had a good chance for a while. Shoot, my FL house appraised for $275K in 2017 when we refinanced. Assuming another $600/month in other debt payments and a 40% DTI cap, an individual or couple only needed to be making +/- $70K to qualify for that mortgage. Down payment and closing costs would have been +/- $10K-$20K depending on the loan program (that would probably be the biggest challenge, but you're talking $1K - $2K per year in savings from 20 - 30 years old. Definitely doable.). But there were plenty of markets cheaper than that at the time.

Big, fat, qualifier: The market right now is crazy, of course. But if you've been an adult for a decade or more, there was reasonably affordable housing to be had for a stretch of time (and potentially very affordable housing for a short period of time).
Click to expand...
noho-hank.gif
 
Stocker said:
54 hell I’m 33 going on 84. I was in bed at 8 last night, up at 2:00. I’ve been bitching about daylight savings time and how it needs to be light out earlier to get all the deadbeat gen Zers outta bed. While throwing a fit because I’m technologically challenged and can’t make f#%*^! Email work. Drank about a whole pot of coffee. Other than not needing viagra and not getting up to pee every 15 minutes I’m old as hell.
Click to expand...
Just give it another 5 years, you'll be up a couple of times a night draining your lizard. It sucks!
 
Stocker said:
It’ll be another hour or so before most of the boomers get up to eat their oatmeal and take Metamucil. The Zrs ought to roll outta bed about the crack of noon. Us millennials will have a full days work in by then. Looks like a good afternoon for fishing.
Click to expand...
Sheet. I been up since 0400. It's almost lunch time kid.
 
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