Honestly those prices were subsidized by destabilizing every economy in the global south. Thanks America. 🇺🇸 ruining the entire planet for the baby boomers.
Well I want prosperity just as much as the next American but that means returning to a more conservative culture that put the health of America first before anything else. Boomers were progressive for their time and they ruined literally everything. So far each generation after the boomers had become more progressive and the country has only gotten worse. So, if we are to actually build a better nation for ourselves and the future then we need to be socially conservative and willing to hold our elected officials accountable when they fuk our lives up.
The 40% rule is new, boomers actually needed 25% of their monthly income to qualify for a mortgage. Banks literally made sure they could save money after buying a home and now they literally want to make sure you cannot save after buying.
You have it backwards. They are allowing you to use more of your income and still qualify....that makes it EASIER to purchase and ive owned homes since the early 90s. I never heard of 25%, the lowest I've heard is 30%....unless you are talking the old guidelines of 25% AFTER other fixed expenses like car notes and SCHOOL LOANS. That was a thing when you were expected to pay your commitments.
My boomer dad couldn't understand why my mil brother was struggling so much to buy a house ans started giving an example of how he bought our 4 bedroom 2 story house in a brand new neighborhood without even having to save up any money. My brother replied with "the entire cost of that house you bought is now what is needed for a down payment for a smaller house."
I'm confused as to why that dad needed to have the discussion. That's not how grownups get information. Adults know what the housing prices are and the cost of living. Why would the dad even say anything without checking? It's WEIRD!! I don't get it.
@@teatime009 they were just chitchatting at the dinner table. Totally normal in our family. Not everyone is the same. What's weird about a dad asking how his son is doing, his son replying back with his current struggles with getting a house and the dad retorting with the classic "back in my day" examples. I honestly don't know what you're on about. Its like the normalest thing. Don't know how it's weird.
@@teatime009 Its because that convo didn't happen. Unless dad is a moron, everyone knows about mortgages and how expensive things are. My son, who is 25, talk all the time about money and finances. Some people just make stuff up.
My parents bought a beautiful 3000+ sq/ft historical colonial home on a .5 acre lot on Main Street in the historic district of my town for $167K. Its current value according to Zillow is $750k. I make more than both my parents salaries combined, and I wouldn’t be able to buy the home I grew up in. This economy is in shambles.
Do you know what the term Boomer stands for? Baby boomer. Your parents bought that house when there were considerably less people in your town. Then the population grew when your parents generation became homeowners. It grew again during another mini baby boom called the millennials. Now both the boomers and millennials are homeowners. So now you have a much bigger population competing for the same houses and you think what, that they should be just as affordable? No, If you want the same type of house that your parents bought then you need to move where there is a lower population. That is typically outside of town or to a new up-and-coming town. The fact that you can't live wherever you want whenever you want is not a sign of a broken economy, it's the sign of a growing economy due to a growing population. Eventually, your parents and the rest of their generation will die off and then homes will become affordable again, but it's not their fault that they're still alive.
@@Julsranda f**K that gotta do with anything ??! You gotta be real stupid to think any of the parties have your interest at heart... Especially one run by a billion dollar trust fund 77 y.o.baby !! The other one ain't much better either !!
And it really, truly is worth mentioning. It really is appreciated. Look at the first guy. Most of the older generation who haven't looked at the way things actually are think this way and treat the younger generation like we're lazy or entitled. So thank you.
@@ChavagnatzeNot even that, they're the generation of standing around the water cooler chatting up a storm, they got to slack off as long as a boss wasn't literally looking at them because there weren't cameras every fifteen feet at the local plant. Most of them had a minimum wage job that could pay for a house while also feeding and clothing a family of four or five while also owning a car or two. They put in what they wanted and got back more than we all do working our asses off week after week.
I work in finance and talk to retired boomers all day long. Some understand how lucky they are but many just don’t and take their low home prices, low interest rates, big families, ability to stretch out paying taxes on the money they inherited, full pensions, and Social Security for granted.
My father, who worked from 1952 to 1990, made $3,00/year in the 60’s. Raised,fed and clothed himself, wife, five children. Bought a $10,000 fixer-upper. $100 mortgage, and countless hours “fixing up”
@@karidust1 The IRS requires people to take out something called a “Required Minimum Distribution” (RMD) from retirement accounts. It’s a way to force people to pay taxes on this money. RMDs are required for Inherited IRAs (doesn’t matter the age of the person) and for the retired person (while they are alive). Before 2020, a retired person did not have to start taking RMDs until age 70.5 and also anyone who inherited money from their parents that was in a traditional IRA could stretch out taking the money out and paying the taxes on the money over their LIFETIME. In 2020, the government passed a law called the Secure Act stating that now when people inherit IRA money, they have 10 years to take all of the money out and pay taxes on all of it. At the same time, they told retirees that instead of starting RMDs at age 70.5, they could wait until ages 72-75, depending on the year they were born. Why does this matter? 1) Boomers/Retirees are happy because they don’t have to start RMDs until later so it saves them money on taxes. Please note: most retirees are in a lower tax bracket than when they are working. 2) Younger people, retirees’ kids, are unaware that when they inherit this money, they will end up with less of it because they will have to pay the taxes on it all within a shorter time frame and at higher tax rates because they are still working. But they are blissfully unaware because they will not have known that the law recently changed. This is the government’s way of allowing the retiree’s money to grow more and then get taxed faster and at higher tax rates after they die and their kids inherit it.
@@karidust1 I typed up a whole response to explain what I meant by this, but it appears to have been either accidentally deleted by myself or removed. Please Google: Required Minimum Distributions (RMDs) and the Secure Act. Long story short, it’s the government’s way of allowing retiree’s money to grow longer without being taxed, so when their beneficiaries inherit it, it gets taxed faster and at higher tax rates because the beneficiaries are usually still in the workforce earning higher incomes.
What country is this. Wth. I don't watch the news or pay attention to other Nation's problems. I prefer to be oblivious and slightly happier than most.
The truth about boomers and older millenials and Gen X is boomers didn't buy houses right out of high school. They got jobs, got raises, promotions bought a house ten to fifteen years later when they were making 40K or more. As time has gone by, salary increases slowed down, but those housing prices didn't. They skyrocketed. the neighborhood I grew up in you can buy a house for 50K in the 90's or so, they were going for over double that by the early 2000's, by 2010 doubled from there. Houses in 2017-18 were selling for 300k to 600k. This is an old neighborhood, inner city. People are paying it. Even today in this economy the entire city of San Antonio you can't get a fixer upper for less than 100k.
@@diomio-ri2vo no. They did. How many old people you hear talk about having multiple vacation homes in different states for different times of the year. It wasnt the system, but they sure started to take advantage of it later
@@djspit8929First, what you’re describing is not the norm for older generations. Second, does it really surprise you that someone in their 60s+ has accrued more wealth than someone in their 20s and 30s?
@@diomio-ri2vo They did snatch it away but it's totally unintentional most of the time. For instance, the boomer who tells me "there's too many people in the world" genuinely thinks that we need to make it harder to have children. The boomer that hikes through my bow hunt and scares off all the elk doesn't care that I'm trying to feed my kids, he's concerned about the wildlife.
My mother was shocked to see current home prices. She bought her house over a decade ago for about $30k and spent about the same in renovating it. Comps in her neighborhood are now going for $200k.
Being a young adult today is like joining an old minecraft server in survival mode where you know that all of the loot and resources are depleted and you're left struggling to survive
And the whole time you’re being insulted by the old timers for not succeeding as fast or working as hard as they did when the server was flush with resources.
@@sullivanko1902They did create computers for us, we wouldn't have Minecraft or the internet without the Boomers. The automation nowadays is spectacular, don't you realize that they gave us the tools to dominate production?
@FletcherHillier ah yes, how does one succeed in those industries when you need 10 years of experience at age 20, 200k debt from college, and all of the tools before starting working?
@@FletcherHillierdoesn't matter. They didn't have to fight tooth and nail JUST to put food in their bellies. There are some days when the only thing I have to eat is a fucking jar of PEANUT BUTTER. Don't talk about something you are clearly too stupid to fully understand. They didn't have to STARVE themselves just to get by. I do. Every. Single. Month.
However there are many places around the country that you can still buy a home for a decent price. Detroit is one. Birmingham is one. Moving out to rural areas is also an option. The list goes on. The issue is that many people want what they want, when and where they wanted it. Get a higher paying job in another city/state and move.
@@lockinglucario4690Try Oslo Norway.. average salary is 790k at the moment, but its that high because 2% of Oslos population is filthy rich. A house in a decent place, you would need cash out 8500$ or more pr squaremeeters.
As a GenXer that bought our 4 bedroom craftsman 20 years ago for 85k, this is the reason I refuse to sell my home. When we retire we are going to build on land we bought abt 45 mins outside our city. Now if all of our kids do well and have managed to be homeowners on their own, great, we will sell and have a nest egg. If not they will always have a place in the heart of the city to call home. Our neighbors just sold for 650k and their house and yard is smaller than ours. Crazy!
I’m 40, my dad bought a house in 2001 for 220k. 4 beds 3 levels finished basement walkout. 1 acre. I moved in after he died, and his neighbor across the street just put her house up. Single level home, 2 or 3 bedrooms, updated but not recently remodeled….sold in less than two weeks for half a million dollars. $499,999. I’m a single woman, if I want to downgrade I’d be paying twice as much for 1/3 of the space. The first house he bought in 1985 was less than 30k. I just paid that for a CAR. Wild.
I get all of that, except you absolutely don’t need to pay 30,000 for a good car. You wouldn’t even have to pay half of that. I bought my last car for 11,000. Not even ten years old. Not even 100k on it. I’ve put in around 2k in repairs over the past eight years. Car prices are even more of a problem than houses. You can live in an apartment. You can’t really live much without a car.
My dad’s always been a “keep your head down and work hard” kinda guy. I wouldn’t say he was quite to the level of “when I was your age I put myself through college” but definitely was always a little judgy about me not making as much as he was when he was in his mid to late 20s. He said to me one time “when I was your age, I was already buying my second house”. I went to visit him a few months ago and he turns to me and says “you guys are fucked. I don’t know how they expect anyone to live a normal life in this economy.”
At least he finally understood, I do customer service that caters to Boomers mostly and they are so out of touch, they will go to their graves giving all they have to political donations and private health insurers.
I'm currently looking at houses and I've been taking my dad with me the amount of times he looks at the house and says 120k? I'll give you like 20k it's all it's worth is funny and sad at the same time. The house we live in hee traded a guy a 1975 impala and a flat of beer for in 1983
some are starting to see the the actual state of the world now with how expensive things are and the wages and what employers expect as a given now used to be going above and beyond but for most office roles you are expected to work on time off and be contactable at all times up until midnight and all for the same wage. Homes are some how in short supply but so are materials and people to build them however you speak to people who build houses and they will tell you their rates havent gone up since the GFC and cant afford to stay in the industry much longer if it continues.
My grandmother said the same things; not to belittle me but genuinely wanting to help. And she did help. She helped write my resume. She encouraged me to ask about jobs. And she realized just how hard it was these days. She was furious for me. For all of us. We don’t get out what we put in anymore. 😭 (RIP, Mamal. Love ya)
Respect for your gram. I went from homeless to homeowner in 3 years, moved in at the end of 2020, and it was rough. I was barely able to do it, and only could because I avoided many traps that are so common in our culture, many of which were in my way because of the previous generations who would call me lazy. It's now 2024 and so much more difficult to own a home than it was just 3.5 years ago.
@@youdidntseeanything8589 Thanks. I like to think she still visits us in our dreams if you believe that sorta thing. She’s up in heaven dancing with Freddie Mercury; I just know it 🥰
@@sabastianleisek396 I’m so fucking glad you have a house though! I’m still with my parents, the saints they are, and gonna build my own tiny house on the property. I hope you have nothing but happiness in the entire!
@@jenniferlynn3721in 2004, Washington had the highest minimum wage at $7.16 which means either he's lying or his parents lived in a city with an even higher minimum wage. Let's just say they lived in Seattle. Their minimum wage today would be $19.97 which exceeds the rate of inflation during that same time period.
@shaunmiller-gruntcomics562 federal minimum wage 20yrs ago was $5.15 an hour. I started working right after hurricane Rita tore up my area of southeast Texas. I was in high school then.
I worked 70 hours a week. My life was wake up, go straight to work, work for 12+ hours, go home and immediately go to sleep. I still wasn't making anywhere near enough to buy my own house. Barely enough to rent
This is such a underrepresented issue You hear “oh but the housing market it doing fine plenty of houses are being bought you’re just not working hard enough” in reality, its Hedge funds that are buying all the houses and marketing them at extreme prices. We have been getting scalped for years now
Unfortunately they are buying them all up so nobody can afford them. They will offer you very low rent and 50 in social credits when you move into one of their 15 minute prison cities.
Stupid comment. Has no idea that you are considered a business by the state. Why you have a tax code. Because your just a business to them. You either make a lot of money and don't get taxed or don't and get taxed
The plan is for private companies to own all single family homes. When they price you out, you will be forced to live in their 15minute cities. Under their control living on social credit.
My dad actually got a little pissed off when I told him our rent was about $400 more than his mortgage every month. (Almost half the size too) He kind of checked out after that and sat down depressed for a few minutes. I know he was thinking "How will my grandson survive"
My husband made $200.00 a week in 1971. We built a 3 br 2 bath double carport home for 11,500. Totally furnished for a total of 12,500. I was a stay at home mom. We paid cash for all medical. Minimum wage at that time was $1.25 an hour. Every cost of living wage has increased everything else more than the raise. I remember paying $3200 for my first car. It was the top of the line at that time.
The most frustrating thing is my parents not understanding our schedule. My mom was a sahm and my dad worked a 9-4 job. Not much overtime. My mother judged how exhausted I am after working a 8-6 schedule, no husband, with a second job delivering papers. I’m honestly tired of her telling me my grass needs cut, laughing that my dishes need done, etc etc . I live in the woods. No one even uses my road. Just stop.
@@DblyaC sorry. It’s a very poor rural community - look into it I got a whole house with 10 acres for 70k. It’s a bit of a dump but it’s private and quiet.
I worked for 5 years at a multi million dollar business. I started at 13 dollars an hour packing caps, college kid stuff. I ended up managing and troubleshooting for 2/3 shifts 7 days a week. I took phone calls off the clock, was on call for any issues over the weekend. I left at 21 dollars an hour. What I've put in has not ever been remotely rewarded.
@@Zagriel.I keep hearing people say this as if almost every single major company around today wasn’t either started hundreds of years ago or started by someone who was already born a millionaire.
@@alex_runarin alright not a company. A business is much easier to start. He seems like a capable person. So I suggested he work for himself. You won't be able to build skills with money. Not how it works
I’m Gen X. I understand that when we were kids people bought homes that were two bedroom, one bathroom even if there were 4 kids in the family. About 10 years ago people started wanting homes that have 4-5 bedrooms and at least 3 bathrooms. This is ANOTHER reason why homes are so expensive.
As someone who works in the financial industry, the majority of mortgages we processed during covid were from companies. Many of those companies were owned by foreign borrowers - mainly Canadian. Families are not buying all our homes and raising the prices, it's the corporations. They were able to make cash offers that consumer customers just couldn't compete with. It's all really depressing honestly.
If you really do some deep digging you'll realize that most of those "canadian" companies are actually illegal money laundering businesses directly tied to the fentanyl and opoid suppliers from China.
The funny part of that is the fucking housing crisis in Canada 😭 I’ll speak for myself as Nova Scotian but like tent cities are real. In Halifax (the CAPITAL) there are dozens of tents lining quinpool road. I think legislation about corporate home ownership is due
My Mum bought a house for £6000 in 1972 which she sold 2 years ago, if you were accounting only for inflation it would have been worth be £68,500, she sold it for £445,000.
As someone born in 1991 i can say that life up until 2010 was way different than now. Im only 32, it wouldve been easier for me to attempt to buy a house when i was 21 than it is currently.
Also born in 91 and I feel your struggle. At least we got the "best of both worlds" and have modern technologies but also know what it was like before all of this started. Particularly those who were poor growing up and couldnt afford those technologies until later in life so playing outside is all we had. I cant speak for you but I'm glad I got to see both sides. But the downside of it is how crazy expensive everything is now and like you said, just 10 years ago it wasnt even close to as bad as it is now. I rented a house with a buddy of mine and we paid roughly $350 each per month (before utilities but some cheaper ones were included in rent) Same house is now almost $2k per month now (without utilities, none of which are offered in rent anymore) just 12 years later. Crazy!
I was born in 81, so, basically the oldest millennial. I did buy a house when I was 23-24. Had a nice job that payed $20 an hour building trusses for houses. Everything was going great until that recession hit. I worked hard, but no one told me growing up that the economy could crumble and all your hard work is pointless. The company I worked for downsized since you need homes to be built to sell trusses, so I lost that nice stable income. Lost the house a couple years later when all you could get is low paying temp work.
I had enough money to buy a house twice, but my father took it all and went to vegas with it. Now I have nothing and I am mathematically unable to buy a house. I did the math, and if I work 80 hours a week like I did when I was 18, I will be homeless for the rest of my life.
Right 😅 I'm 31 and have absolutely no chance of ever buying a home with how things are. I can barely afford to feed me and my child, yet somehow I make too much to qualify for any help 😂
It's his channel and he wants to share the video of what this person is saying. If he doesn't stitch it (show his face) YT will demonetize his channel for 60-90 days. Dumb, yes, but it is what it is.
My husband and I got LUCKY when we bought our house. Rented it for 6 years, and the landlord decided he didn't wanna landlord anymore and offered for us to buy it for what he owed on it. We got a 3 bedroom, 2 bath, living room, kitchen, family room, deck, patio, and storage building on about 1.5 acres. Value is estimated at $195,000. We paid $80,000. VERY, VERY LUCKY!!!!
@@seadonkey6913he wasn't wrong you will be preyed upon by terrible employers so I take advantage of them and squeeze every thing they have to offer then move on for higher pay
I am a clinician. To do my job it requires a graduate degree that puts the most people in over 100K of debt. I have a coworker from the baby boomer generation. For her, grad school cost $500 a semester. She just upgraded to her third million plus dollar home. Most of my colleagues will spend the first 20 years of their career on income based loan repayments and can’t buy home for years.
Sounds like a bad career choice. Kinda like getting a masters in social work or public education. Both cost far more than the average income available from such a degree. Actually, the degree programs are largely overrated and rarely meet the educational needs for the occupation they are geared toward. Education nuked itself in the 70’s and 80’s by requiring unessential coursework to gain a degree.
And if your co-worker is a boomer, she's retiring, right? Boomers are all well into their 70s by now. She got to where she is probably by working for the last 50yrs of her life (which seems like you're completely ignoring) and learning how not to spend on things that arent 100% necessary
I worked with construction crews in North Dakota. They would leave their homes to live out of a trailer at the construction site for 6 months working 70 hour weeks. They would make enough money to take the next 6 months off until the next gig. You can still do that today but you won't because you want all the benefits without any of the downsides.
@@McP1mpin maybe I deserve better, 2 diplomas and 1 degree, working two jobs after serving in the military, failed athletic career, I don't have a sleeping schedule because I work through the night... So I can agree we deserve better, we pay more taxes today, but get less in return, I'll have to get a miracle or work till I'm 90 to get my daughters into college without debt
I actually ran the numbers with my parents as well. They couldn't afford to buy their home right now with their current salary. They had to deal with three kids on two salaries roughly 30 years ago... Today they have two salaries (same jobs) and no kids to take care, couldn't even afford the house they live in
@@UnicornGuru luckily it was more informative than anything else. My parents are aware that it has worsened, but not HOW much it worsened. After this, I helped look at their retirement funds including social security... It's not enough. They were unaware about that, too.
So the area they live in has gone way up in demand since they moved in. That is what everyone who buys a house ans an investment hopes for. Follow their example and show in an area with demand similar to what theirs had when they bought it.
This is why my husband and I sold our house in Nevada and paid cash for 92 acres of land in Tennessee, built a small off grid house to keep our expenses low and have plenty of land for our family to build their own off grid homes if needed.
Thats the whole point of buying real estate that it goes up in value. There are plenty of areas that are still affordable. Id like to live in the Hamptons but i can't afford it, so i have to live somewhere . Doing whatever it takes means MOVING to where it's affordable.
Where I live the cheapest 1 bedroom apt I could find costs me $1500 a month. It’s an old motel that was remodeled for apts. I live in a literal hotel room for $18,000 a year. That’s more than a mortgage. I’ve tried to get loan to purchase a house and can’t bc I don’t make enough. This sh*t is so depressing living in this sh*thole and it will be years before I can afford a mortgage. In the meantime I’m spending 50% of my fcking income on my motel room not even mentioning my car payment so how tf am I supposed to save any money. This is out of hand and started when Biden came into office.
My family owned a home in Queens New York that in 1994 was worth $250,000. They also had a property in Astoria New York that was worth a similar amount. I'm unsure exactly. Rather than rent out the Queen's property which had a basement apartment in it that was two bedroom and one bath and could have easily gone for $1,500 in those days, and then rent out the house which had two living rooms, a dining room, four bedrooms on the second floor and two bedrooms and an attic on a third floor which probably would have gone for around $4,000 a month, and then rent out the second property which was literally an apartment building with two different units in it so I can assume that's roughly $3,000 a month give or take. That would have given my family nearly $10,000 a month in income. They would have been moving to Florida where the property was about $100,000 to purchase. Had they done that with debt they would have been able to pay off that property within a year and been completely debt-free and began acquiring properties all over Florida to use for rent. That property in Queens is now worth 1.7 million dollars. It could have been sold today and 10 different properties could have been bought. We literally could have been real estate tycoons. And I'm not even counting the sale of the other Astoria property. However instead of making the correct decision, they sold both of those properties and then bought the house down here for $16,000 cash since they already owned 50% of it due to my great grandparents dying and leaving half of it to my grandmother. Where the rest of the money went I have no clue. I assume they just paid down their credit card debt which was a foolish move rather than investing it. So from 1997 to 2005 all of that liquid assets were gone. By 2024 The family had no money left and now the house that we are living in today is in desperate need of repairs and there is no money left to do anything with it. We can't even rent it out or pay the bills and he has nobody makes enough money to do so and we would have nowhere to live if we moved out and used it as a rental. However my family likes to pretend that this is all MY FAULT. Because I became disabled 14 years ago and I don't help my grandfather and my mother out with the bills. They don't take responsibility for not understanding that they had the opportunity to literally become millionaires in their lifetime. And every time I made a business proposition to expand our investments I was always told that I was caring too much about money and being greedy and only out to enrich myself. They grew up in a generation where money was so easy to come by They did not respect it. So they figured that I could just go to work and make money easily. Due to that they have ruined the future of this family generationally. Because of that I will probably end up dying despite having 144 IQ and the financial expertise to make millions. Had I had the same life that they had I would have already had 10 million dollars in the bank by today. There is no doubt in my mind
“Hi bank, I have been paying 3k a month in rent for the past 10 years now I would like a mortgage that’s only 1k a month to buy the same house. Computer says you can’t afford it” That’s pretty much all banks these days 🤷♂️
When my parents talk about getting their first jobs it's made very obvious it was not only easier to get a job, but it was easier to buy literally everything you needed with straight up pocket change. I'm so glad they understand how the economy works and how it's changed and recognize that I work hard, I just live in a time where that's not enough.
In the 8070s 60s and 50s the way you got a job was you walked to the place and you told them you needed a job… The worst you had to do was write down a one page job application, but they were able to see your face and you could talk to him and get a job. now you have to send your resume via email and compete with other people trying to get that job. It is not easier now.. globalization, you have to compete with foreigners that live in other countries for the same job… it is not easier now
Findi one you're happy with and finding a job are two different thing. Let me ask you this: how old is you phone? Are your nails done? How often do you go out to eat or get drink or coffee? How often do you all buy clothes shoes handbags? Perfume etc etc. if your phone is less than 6 years old, that's one problem. Out of the many
I’m so glad my dad understands this. He’ll say things like “when I bought my first house I was right out of high school, making damn near minimum wage as a landscaper… nowadays minimum wage couldn’t buy a cardboard box with 3 roommates and that’s somehow your guys’ fault because you bought an iPhone and Starbucks.” Or “people are so shocked that the middle class is disappearing while at the same time acting like $15 an hour is too much” It’s very nice to see nothing but his generation (he’s 61) be on the internet saying that we’re lazy entitled brats for wanting to survive, only to hear him say “yea, our bad” when we talk lol. I don’t think he realizes how thankful I am for him having that mindset.
I was told how pathetic I was by my grandmother for not wanting to work 80 hours a week at a job to meet the bare minimum requirements to pay rent and buy food, she told me how hard it was for her when she was my age and how she had to work 4 jobs to barely get by, she also moments later bragged about how she used the system to barely have to work and how she's gotten so much money through exploitation.
They’re emotionally stunted, they’re blind to their own hypocrisy, people need to be taught psychology growing up, they repress struggles often starting from an infant when needs go unmet and they develop personality issues
If I couldn't afford a 450000k house, I would consider buying the land, buy and get approve 5-6 shipping container houses. Pay for a fraction of a track house these days.
My friend's dad bought his house for 400k. It has water damage, structural integrity issues, and termite damage. He is talking about selling it now for more than double what he paid for a perfectly fine house. 😐
Pretty confident they had phone bills, TV bills, and student loans, we no longer have to pay for gas, and you can still absolutely purchase a car outright for $1,200, my roommate did it this past year and I have almost done it myself multiple times just to have a second car. It's just the fancier cars from this decade or cars with no surface damage that you'll be paying so much for. Find a dude on the side of the road and you'll be set. It's not the bills we have today, and if it were, honestly you could cut half that shit. Cell phone? You can get a plan that has unlimited talk and text and no data for as low as $5 a month, and you can get a plan that uses WiFi for phone service for literally free. Cable you straight up can just ditch, it's not needed nor useful when you've got WiFi and can stream shit from RUclips to your TV. Again, find the right cars that you can buy outright and you've cut that. It's not the bills. It's the pay and the pricepoint of housing. The biggest issue is that housing is a necessity that will continue to be marketable even if consumers don't purchase, as there'll always be a market to businesses that rent/lease/flip. This means that despite prices being ludicrously high, there's no incentive to lower them to reasonable levels. If wage/salary doesn't rise at similar rates as housing value, then this only worsens that disparity.
I would say you could just get rid of those things and save your money, but you literally need those utilities in order to apply for and maintain most jobs. - Car for transit - Cell for comms with EVERYONE - WiFi for school/work projects
@@seadonkey6913where? Doing what? Was it a openly available job or did you already have a connection that got you in easily? All of these and more are factors that make you the exception, not the norm.
My mom bought her house is 1999 for $100k and there is the same model for sale on her street for $380k today. A $400k house used to be incredibly nice where we’re from, even 5 years ago. Now $400k is a starter home.
@@user-wt4bf6qw2o greed and needing to be better than. They chose to be better than the next generations by holding us to standards they had. We need better leadership or we will never have nice things as a society again.
$100,000 in 1999 equals $187,400 in today's dollars. If the house is in a good location, its value will appreciate faster than its initial worth. Apply the housing shortage factor, and its value goes up even more. If she's made desirable improvements to the house or yard, that increases value.
My widowed mom, who raised six kids largely by herself, scraped up enough money to buy a house in 1984. She died in 2020, and the next year when we sold the house at slightly under market value and split the profits between us, each of us had enough money to put down payments on houses of our own. My mom did scrimp and save to afford that house, but buying it was NOTHING compared to home prices today.
@kejuanwilliams9151 then please, all means, enlighten me. Because how it read to me was, sold mom's house for under its market value. So for less than its fair value. Then split that 3 times to add to existing budgets to purchase homes with. Spent that on down payme ts to homes you ultimately knew, you could not afford Because your budgets were spent on the down payment. And that's not your fault how?
@@jetcox6760Spend less time with that "seductress of a car" and spend a little more time reading, eh? Might do you well in the future when you're all grown up.
@lorddoge8410 I don't know, I seem to be doing well now, it's everyone else complaining it can't be done but, whatever. Like if your trying to shame me because I am able to spend money, own my home and not have to cry to the internet because "life hard" not sure how you did that. But, what I want to know is, who told you all that life would be fair, easy and not hard? Because that's a lie. Life isn't a sure thing, never has been.
$8 minimum wage? It was $5.15 in the late 90’s when I popped popcorn and cleaned movie theatres. My dad was making $2 back in the day as a classic boomer. Age 70 today. He also drove a forklift on third shift, learned pipe drafting and plant turn arounds. He worked in one high demand industry for 40 years. 80 hour work weeks were not odd when I was little. No zoom calls. He would leave for two or three weeks at a time to consult on major projects. He called my mother every morning. They were true to one another. I'm not saying it’s not harder now, but I have blue collar friends making more than friends that went to law school and I know plenty of gen z kids who are smart. Settling in early, marring young to people with good values, and staying close to home with family to help with child care. Yes. Its hard. I'm 42. I watched this country implode, but my parents and all of my aunts and uncles didn't chase pipe dreams. They work extremely hard and weren't wealthy till their 50’s. Most of them had a ton of kids to feed too.
Dog my school can barely afford food and a bag of chips at the corner store is 5$ I genuinely don’t think I would be able to afford to feed myself every week without my parents and that’s me living at 5’11 120lbs
Bought my first house in 1998 for 89k. It was a 1200 square foot bungalow and my mortgage was 750 per month with 5% down. I made 65k a year then. That house today is 350k.
My dad used to be like that guy in blue thinking you could just walk into job land and then get a house and start a family. He's finally come to terms with the fact that no one is getting a house without sharing the bill with probably 2 to 3 others.
My parents house was 45,000 bought in 1967. The economy now has raised prices now on rent and mortgages to the point where even a couple with full time jobs and 1 child would have to make 5k a month to rent a 2000 2 or 3 bedroom apt. I have to borrow 400 each month to play my mortgage for my house because the house was 787 20 yrs ago per month and now it's 1300.
Im renting a 900sqft apartment with a roommate. in 2018 we were paying $1100 a month with utilities included. that same apartment now costs us $2130 a month, no utilities included (~$350). the average single family house cost $300k in 2015. That same house costs $550k today. I had saved up $45k for a down payment, but by the time I did that I could no longer afford to pay the mortgage. I continued to save, but the cost continued to outpace my savings. food, gas, insurance, etc. all went up too. now i am looking at the trend and it looks like by the time I save up another $60k for a 20% down payment (which is what I would need to keep the mortgage payments within budget), house prices will be even higher and I still won't be able to afford it. not only that, but rent will cost even more so it will take even LONGER to save up and may even outpace my income. Im not even making minimum wage. I get paid fairly well right now. nothing amazing, but well above the average income... I shouldn't feel this trapped. I can't even imagine what true low income families are going through right now.
For this reason alone, our parents shouldn't be selling their homes that they've finally paid off. All they're gonna be turned into is Air Bnb an Vrbo rentals (the new time shares) my Mom THANKFULLY gave me her family home to raise my own in an the savings is helping me to teach my kids how to work to save and instead of buy a house to buy property an build on it so that when they want a family they can actually have a home to own an only rent when they choose to travel.
First time homebuyer assistance my friend. Bought a 2300 sq foot 5 bedroom last year. Only needed $14.5k down. Negotiated for the seller to cover closing costs. I thought I would never be able to buy a house until I actually started the process and now I’m mad that I waited so long.
I'm 47 years old and even I have noticed how bad things have become. I remember when looking to buy my first home in Miami at 25 and you could still find a home for a little over 100k. 20 years later that same home is 650k. At this rate we will become a nation of renters while all the corporations who don't need to mortage these homes will be our landlords.
@kevindahlenburg6014 The best argument those people can have is the Cold War and Vietnam. That's it. Boomers should look back and realize it wasn't that big of a problem. Ww2 caused an economic boom, making every person who isn't at least 96 years old make that argument a bold-faced lie. From 1946 to 1998 were probably some of the best 52 years humanity will ever experience for at least another 20-30 years. The only times I can consider being truly bad was the satanic panic in the late 70's to early 90's. Even then, it was still the boomers who caused that to happen to gen X, millennials and late gen Z. I really hope I don't sound like I'm trying to start shit on the internet, like a lot of other sore losers here, just wanted to share some thoughts
If he means healthcare and technology and SOME laws, then yes it's better, it's better for HIM. Doesn't mean it's better for you. Likely means the opposite.
Boomers were young in the 70's and 80's. Inflation then was insane then. And minium wage was not $8, when I got my first job in the late 90's it was 6.25. Not sure where he got this information
I am a Gen X'er I was told this by a boomer back 2006... This guy broke it all down on a wall. Then 2008 hit and I bought my 1st house for $118k. fast forward to today. That house sold for $220k. My salary went up by $3 per hour. Meaning I couldn't even afford that house now! that's pretty messed up right!
The middle class started at $30k for all these bootstrappers that refuse to retire, because they need their fifth boat. It's now $172k, if you want to own a home
Same. My husband and I wouldn't be able to afford the house we have now if we bought it today. It would be close to $420k based on the estimates online and what similar houses are selling for near us. We bought it for $205k back in 2015. And I think the only reason we could afford this house in 2015 is due to the money we got from selling our first house we bought in 2010.
@@smania7575 facts.... The only way for you to make it is to work and pay it off. I am in the same exact situation as you. Sold my 1st house and bought another at the end of 2016 for $230. (I seen the houses going up fast in 2016 so I wanted to get into one pretty quickly) This house is valued at $450k now!!!! it's insane....Plus all of the utility bills don't seem to stop going up for some reason. These corporations are charging more money but they aren't paying their workers more money, and they are calling it inflation 😂
I went to high school out here in Metro Detroit. A lot of the new build houses had signed starting at 200 K to 300 K which to be honest made it seem like this was a gonna be a great place to start a family. Those houses are $600,000 minimum right now. The crazy thing is I’m talking 2015 and 2016 to right now.
It’s almost like there’s too many people, which means too much competition. Might not want to bring in over a million people every year looking for a home.
My parents got their house for $20,000, in the 60s, after my dad died my mom sold it for over $700,000, but of course with Medicaid pay down she was only allowed to keep $50 and anyone she gave money to as a gift had to give it back.. Fortunately I bought my house from someone in a similar situation for a quarter of what it was worth, they had to sell fast, I was able to get in quick because I already had my mortgage approved and my down payment ready. A lot of my friends just brought land at county auction, and live in a shipping container. But if you get sent to jail for 30 days or more and your mortgage requires that the house is your primary residence you can be instantly foreclosed on because you're in jail and now jail is your primary residence. It's amazing how quickly a life's work and dreams can be taken away. The bigger problem than affordability is the lack of security and the lack of care.
“You get out what you put in” is the biggest lie I was ever told. That’s a 200% FALSE statement. Life is horrible. That’s the truth. Life is a nightmare and it gets much worse as time goes by. There’s the best “advice” you’ll ever hear
lol that’s a pretty poor outlook on life my friend. the statement “you get out what you put in” like all sayings like that aren’t meant to be taken at face value. If you’re putting in tons of hard work and getting nothing back, change things up. TRUST me places are looking for good workers. If you’re under appreciated then find something different. It will NOT be easy but it is definitely possible. I’m doing it and loving life. I go to bed exhausted and sore every night but I LOVE it!! Life is not a nightmare (unless you get tangled up with the wrong woman, that is one thing that can destroy your life! Women are evil! lol) but aside from that your dreams are out there man. Like I said it won’t be easy and it won’t be over night but if you keep pushing you can make it happen.
@@Sheruff1978 "If you’re under appreciated then find something different" I have a perfect score on 1 diploma and high scores on others. I can get about 1-2% reply chance to job applications. and in those interviews, they look at the perfect score and say "yeah thats worth waving around, nice", add some small talk and good wishes aaaaaand no job, back to sending applications... I´m now a lifeguard and just sticking with that the rest of my life...there are no opportunities out there without connections, FACTS :(
@@Kissindra ugh unions are the worst! I am a union member and I hate it! They protect the worthless employees, so the rest of us have to pull their dead weight. And they’re just as greedy as the corporations! They don’t care about the worker or their wages they have two goals, 1) stick it to the company and 2) get as much money from the members as they can. Take a close look into the spending habits of the upper levels of your union and I promise you won’t like what you find!
I’m 60. I don’t go on and on about how we worked harder back in the day. In Toronto home prices have increased 500% since 2003. Wages, have increased maybe 30%. It’s insanity.
I once had someone try to tell me how hard it was to make payments on the house they bought in the 80s on 15% interest on their minimum wage salary. I was like "hard"? try literally fucking impossible.
@@K.C-2049 what we’ve seen is a bunch of people ride a tsunami upward not giving a shit about the massive divergence between home prices and wages. And many of these douches are investors and flippers driving prices higher passing on their costs to renters. It’s disgusting.
@@kevinn1158 the fact that landlords can pass on every single cost associated with the home that THEY own to renters is very disturbing. I've had people freak out when I suggest that landlords shouldn't be able to charge more than half the mortgage being like "WELL WHAT BENEFIT IS THERE FOR THEM?" and it's like "... the hundreds of thousands of dollars of equity in the ever inflating housing market?" lol
@@K.C-2049 I don’t think restricting the rent is a solution. The problem is at the other end. The govt allowed way too much leveraging against other properties and there hasn’t been proposition of rental properties because of rent controls. Also incredibly high development fees, land transfer taxes, GST and slow approval process has created a ridiculous situation for why buyers. 25% of the cost of a new home is taxes. And the govt then turns around and tries to build public housing as a solution. 2 million dollar townhouses in the centre of Totonto is public housing now.
My mother is 62 and decided to go house shopping in Ohio this year... It's been hell finding anything she can afford, and that's with both me AND my brother trying to find her something.
Minimum wage was actually between $6.75-$7.50 per hour twenty years ago, not $8.56. However, the cost of living is through the roof. My son (24 years old) and his girl pay $2600 a month for their apartment in Maryland. They do not live anywhere near downtown.
The national minimum is 7.25 now and has been for over 10yrs, the state minimum can be more, depending on where you live. It's way worse today, food & gas prices too 😕
Banks was not handing out money like they do today. Plus back then you had to have a down payment of a min of 20% and for over a 100k they actually wanted 30 to 35 % down and interest rates was around 18%
When I told my grandma what we paid for are mobile home she freaked out and told me she paid around 10000 for her house with 3 bedroom finished basement at least 3 cars fit in there garage sitting on about an acre and a half of land
@@joseph1150yup back then prices matched with pay more too. Back then you could pay for college at a summer at the ice cream shop. Now you'd have to work full time for 5-10 years for tuition.
@@joseph1150 yes, times were different, so the old guy in the video shouldn't expect what worked for him should work for people now. He should just be happy he lived in his time and got what he got
@@joseph1150and at 3 dollars an hour, the house was worth just over two times the income of a full time minimum wage worker. Where's the 40k house at that's liveable and had the features grandma had on her 10k house?
Shhh, don't tell the leftys that. They won't like you very much. Goes against their narrative. They'll vote ideology over self interest until they're dead. Even then they'll still vote left.
Without an alloidial title, no one owns land. You’re paying taxes on it, that your rent. If they want to run a road through your land, they will take it from you and pay you what they feel like it’s worth, whether you like it or not.
I can remember bying a house 10 14 thousand dollars 10 bags a groceries for a 100 dollars a new vehicle payment was 117 a month paychecks every 2 weeks 800 dollars still plenty money left over in the early 70s
My parents bought their home on my dad's wage in the 70s. It cost 3.5 X his annual wage. That same equivalent wage would now need 10x the annual wage to afford the same home.
I had a convo with my mom the other day that blew both of our minds. When she was 15, my mom was working part time in the 80s. With 3 other people, they were able to come up with about $350 in rent for their 3 bedroom apartment. They were poor, but it was livable. Right now, my mother owns a single family home in the same neighborhood. I see her old building every day. The same apartment building is currently listening 1 bedrooms at over $2100 a month. I’m currently working part time in the same area she did and my salary is probably over twice what hers was. It would still be IMPOSSIBLE for 4 people making what I make to afford JUST RENT for a 1 bedroom, let alone THREE.
You're point definitely still stands; 500 a month is terrible I made more than that as a bus boy in highschool. And I lived in Texas where minimum wage is still 7.25. I made 6 an hour and got tip share and the most hours I worked in a week was 38
I bought my first house in Kansas in 1993 for $25,000. 3 bed, 1 bath. Housing prices don't even make sense anymore. I keep waiting for the market to crash like it did in 2007-2008
The market will crash when the middle class and below are effectively bankrupt. That’s when the elites/DarkRock will pounce on the “market crash”. In other words, you’re waiting for nothing.
The problem is with the supply side. There are nowhere near enough houses for all the people, so only the most egregiously over funded people ever get a place to live.
@@grantharriman284 and we keep…importing more people with no skills, and no desire to better our country. Stop immigration and home process will stabilize.
My wife and I were so fortunate to have purchased our home 20 years ago just as the market was starting to go nuts AND mortgage rates were falling. Best thing we did was stay in this home. We didn't "upgrade" to a bigger, fancier house. We paid this one off early. It is 100% ours and is now worth twice what we paid for it. We were damn lucky with the timing of it all. I don't know how couples starting off today can buy a decent home and not become "house poor."
Spot on. They are the reason it's like this. When they got their education, the majority of americans did not have higher than a HS diploma. So they saw it as a way to send their kids to do better than them. Those kids became adults and saw that education was not necessary to improve their lives so they stop funding and caring how much education costed.
So, I am a millennial who is doing well; I own my own house, just under $200k a year, have a kid, and I didn't go to college, so I don't have massive debt. Still, in trade, I have had 11 surgeries between both knees and both shoulders. I am a si gle father because working 80 hours plus a week doesn't work out well for relationships, and at one point, I was taking massive amounts of pain pills every day. The "pull yourself up by your bootstrap" talks about weak people who are blind when it comes to accountability; Boomers gave out the participation awards but then called us the participation generation; Boomera told all my friends they had to go to college or they would be homeless and now say "you are the ones that went." They all, for the most part, got houses or money from their parents, which we call "the greatest generation." They now sell those houses for millions of dollars. They are the ones paying us the same they made 30 years ago. Are some millennials lazy? Yes, but not all of us, those working hard, will still not "get what they put in."
The greatest generation were the ones who fought WWII boomers were just spoiled trust fund babies who didn't have to have it hard and could afford to live off minimum wage it's why they're called the baby boomers bc after WWII everyone got home got married and had kids. This guy who is at the beginning of the video is one of those delusional think he worked hard types that are ignorant to the current situation. I feel for you brother hope you're doing better, can't do nothing but feel sorry for the 🤡 who said "we did whatever it took" lol their fathers are the ones who did that he's nothing but a hand-me-down liar
You also forgot the "you have to go above and beyond what your job requires you" only to proceed to reward that with more burdens instead of a pay increase and promotion. Rather hire someone new than to advance deserving people. Rather spend more money retraining and have turnovers than that. Also, you are more rewarded if you move to another company as it gets you a much higher pay if you leave within 1 year of working compared to being in there for almost 1 decade.
@@Soul_Alpha it's crazy how much lies a person will try to sell you. I had a boss that I knew in high school. He came from a semi wealthy family and made good money selling drugs. When he got older he realized he couldn't use his drug money to buy stuff. So he used it to start a construction business. Everyday he would tell these stories (all lies) about how tough he had it and how hard working he was. While everyday he would drive to the job site, drop off tools/equipment, talk to the customer, then drive around and get high, come back for the check and equipment, and leave. It's like he forgot that I knew him in the past and also know mutual friends. If you have to tell people a lot if words on a daily basis to convince people you are something, you probably aren't that thing. Cause you know what speaks louder then words, actions do. I don't have to tell anyone I'm a hard worker cause they just see me working hard.
Don't you just love how all the high and mighty people in this comment section, calling everyone lazy for not working 6 jobs, completely avoided this comment? I guess it's proof they don't work as hard as they say they do, or they wouldn't need to talk down to people in worse circumstances than them to feel better about themselves.
I am 71 now. My first house cost me 41, 000. We were in our mid 20's. We both worked with this caveat. We had gone to college, so our wage wasn't minimum wage. While I worked going to college, my wage was 2.50 an hour. But I have to point out, everything else was cheaper too. Gas was 10 to 15 cents a gallon. Cigarettes were 25 cents a pack. A cup of coffee was a quarter. You cannot compare the two era's without taking into consideration the rest of the cost of living. We made FAR more than minimum wage because we went to college and still the 40k was a HUGE amount of money. It required both of us to work. One salary to pay the house payment and the other to pay for everything else. The housing prices in my state are frankly obscene and are being driven up by people coming from other states where housing sells for insane amounts so sellers know they can charge 10x what the locals can afford.
My grandfather delivered milk for a living. He raised a family in a neighborhood with Dr's, had a "camp" 45 minutes away on the bay. You can't come close to that today as an actual Doctor.
Ok, I agree that house prices are way above what the current market can handle. But when I bought a home it was right after a market crash in the late 80s and I still could not afford a home phone, cable TV, or a second car. Those were things I gave up to own a home. Because I gave up those and many other things I now own a home.
My mom tried to argue that nothing had changed. Said she worked in a factory and made about 500 in 2 weeks. Her rent was about also about 500. Told us that she would pay half her monthly check for rent and doesnt understand how we complain since she made about 8 an hour and we make 18 an hour. She asked me how much i make a month and then how much it would cost to rent one of the small apartments up the road. I made about 2,200 at the time and the rent was about 2100. Yall should have seen her face. 😂😂😂
@@bengrohmann9529 in ontario canada, those numbers are pretty standard, although i dont know where the OP lives. 2k a month for a 1 bedroom. I live in a mediocre city, nothing fancy, not downtown, not a nice complex. My brother lives here and his car was broken into 5 times in the last 3 months, windows smashed. I cant even afford a car on my income. When i got here 2 years ago i was quoted 1550 for the same unit. Shit happens quick my man
A@@bengrohmann9529An efficiency in Miami (a one area garage-room) will cost you $1900. No washer or dryer, only one person allowed. A one bedroom apartment is about $2700 a month. We're not talking about the beach, it's Kendall, about 1 hour from it.
I’m a boomer and, believe me, not everyone that’s my age thinks this way. I have been in real estate for 25 years. It is absolutely unreal how much prices have gone up without corresponding increase in wages. The starting price for most homes in our area is $300,000. A quick way to gauge how much you’ll be qualified for (notice I said qualified for NOT what you should spend) is 2.5 times your annual income. That means someone with an income of 100k would qualify for a $250k house. A few years back we could get people with incomes of 50k into a decent house. Now they MIGHT qualify for a 500 sq ft condo. There is a huge problem here.
My mom bought her house, in 2002, for $77,900. The mortgage payment was cheaper than the rent she was paying. Now, the only empty house on the street is for sale at more than $197,000. It was, definitely, easier to buy a house, just 20 years ago. She has paid off her mortgage. But, today, she wouldn't be able to buy on the money she was making working retail.
I told my employer if they want to keep me they need to raise my salary by $25,000. So far they raised it $12,000. I'm giving them another 6 months or I'm gone. Worked at the same place for 17 years and don't want to leave but I i have to take care of my family. I feel bad for those who are stuck and for those who were born after me. They got a raw deal.
It’s humbling that you made it that long. Careers are dead. They mold you to go to college for a career that may push you out or be undesirable once in the field. If you let them know that pay is what gets your goat, they will hold the reins. They don’t gaf. They’ll just bring in a drone, with little knowledge of procedures and policy, for less pay.
My parents are boomers. They bought a home when they were in their 30's, which was in 1983. This guy is talking about 20 years ago how his boomer mother bought a home, in 2004.
4 years ago, the average cost of a home in my state was $200,000. Today, the average cost of a home in my state starts at $450,000. "You'll own nothing and be happy"- C. Shwab
Average home here in 2019: $75,000. Today $375k. No one can afford it. They’re selling houses to folks who can’t afford them. I live in one of the top states for foreclosure. 🤦🏽♀️
@@sabora81 , they want everyone to be renters, but renting isn't affordable either. Average rent in my state is $2,400 a month. Add on utilities and internet, and you're looking at around $3000. That's just the cost of housing. We haven't even talked about car payments, car maintenance, car and health insurance, renter's insurance, clothing, and groceries. It's cheaper to die than to live.
In case it bears repeating, the housing bubble in 2008 wasn't an accident. The current housing market isn't either. We're being systematically priced out of independent living, even the fantasy that it was is better than the nightmare it is now. "You will own nothing, and be happy". Something gross like that.
Not being a smartass but learn some basic skills and build your own. We recently completed our guest cabin, doing 80% of the labor ourselves over 14 months with a total investment of under $150k... county assessment says it increases our total property value more than $430K. Meaning we could sell it and a 1/2 acre it sets on and have nearly enough to build three more just like it.
The current mess is a direct result of the 2008 crisis. In my state, more than half of all home builders went bankrupt so we have been underbuilding for the past 15 years. Compound that with the lack of starter homes being built and we have the current dissaster.
They didn't have luxuries. They worked to pay for food to cook at home, mortgage, transposition, insurance, and savings. They didn't have cellphone, streaming, internet, doordash, starbies, etc etc etc.
"You just gotta do what I did." Oh, be born in a time where prices and pay were evenly matched?
Oh, just be born into a literal golden age of humanity
Honestly those prices were subsidized by destabilizing every economy in the global south. Thanks America. 🇺🇸 ruining the entire planet for the baby boomers.
I think he meant you gotta look like Quasimodo
Well I want prosperity just as much as the next American but that means returning to a more conservative culture that put the health of America first before anything else. Boomers were progressive for their time and they ruined literally everything. So far each generation after the boomers had become more progressive and the country has only gotten worse. So, if we are to actually build a better nation for ourselves and the future then we need to be socially conservative and willing to hold our elected officials accountable when they fuk our lives up.
Evenly matched is a bit strong, not sure it's ever been evenly matched. But I do agree with your point.
The 40% rule is new, boomers actually needed 25% of their monthly income to qualify for a mortgage. Banks literally made sure they could save money after buying a home and now they literally want to make sure you cannot save after buying.
You have it backwards. They are allowing you to use more of your income and still qualify....that makes it EASIER to purchase and ive owned homes since the early 90s. I never heard of 25%, the lowest I've heard is 30%....unless you are talking the old guidelines of 25% AFTER other fixed expenses like car notes and SCHOOL LOANS. That was a thing when you were expected to pay your commitments.
Get a real job slacker
And they turn around and call people working the same exact job for the same hours LAZY. No braincells at all.
Then they question why people gripe or refuse to work under these circumstances…
Actually I think it's purely driven. 40% means they can sell more loans which means more money.
My boomer dad couldn't understand why my mil brother was struggling so much to buy a house ans started giving an example of how he bought our 4 bedroom 2 story house in a brand new neighborhood without even having to save up any money. My brother replied with "the entire cost of that house you bought is now what is needed for a down payment for a smaller house."
I'm confused as to why that dad needed to have the discussion. That's not how grownups get information. Adults know what the housing prices are and the cost of living. Why would the dad even say anything without checking? It's WEIRD!! I don't get it.
@@teatime009 they were just chitchatting at the dinner table. Totally normal in our family. Not everyone is the same. What's weird about a dad asking how his son is doing, his son replying back with his current struggles with getting a house and the dad retorting with the classic "back in my day" examples. I honestly don't know what you're on about. Its like the normalest thing. Don't know how it's weird.
@@teatime009 the point is that the older parents are out of touch with the way the world works. They assume it’s the sand as it was 40 years ago.
@@teatime009 Its because that convo didn't happen. Unless dad is a moron, everyone knows about mortgages and how expensive things are. My son, who is 25, talk all the time about money and finances. Some people just make stuff up.
Totally made up story, 100% fake
My parents bought a beautiful 3000+ sq/ft historical colonial home on a .5 acre lot on Main Street in the historic district of my town for $167K. Its current value according to Zillow is $750k. I make more than both my parents salaries combined, and I wouldn’t be able to buy the home I grew up in. This economy is in shambles.
A 6000 sq/ft house sold near me for 227k in 2010. Right now it is listed for 880k lol....
economy is doing literally exactly what it's meant to do, it's just not meant for the majority of us to prosper.
Do you know what the term Boomer stands for? Baby boomer. Your parents bought that house when there were considerably less people in your town. Then the population grew when your parents generation became homeowners. It grew again during another mini baby boom called the millennials. Now both the boomers and millennials are homeowners. So now you have a much bigger population competing for the same houses and you think what, that they should be just as affordable? No, If you want the same type of house that your parents bought then you need to move where there is a lower population. That is typically outside of town or to a new up-and-coming town. The fact that you can't live wherever you want whenever you want is not a sign of a broken economy, it's the sign of a growing economy due to a growing population. Eventually, your parents and the rest of their generation will die off and then homes will become affordable again, but it's not their fault that they're still alive.
Vote Red
@@Julsranda f**K that gotta do with anything ??! You gotta be real stupid to think any of the parties have your interest at heart... Especially one run by a billion dollar trust fund 77 y.o.baby !!
The other one ain't much better either !!
Boomer here. Any boomer saying that we had it the same is f'n lying! Things started headed south in the 70s and it's gotten really chitty now.
Thank you for seeing it how it is, man. It means a lot.
And it really, truly is worth mentioning. It really is appreciated. Look at the first guy. Most of the older generation who haven't looked at the way things actually are think this way and treat the younger generation like we're lazy or entitled.
So thank you.
Seeing older folks acknowledge this makes me feel like I’m not going insane. Thanks.
I believe you because no one types f'n 😂
your generation votes like crap
“You get out what you put in”
Sir, no. We don’t. YOU did.
Life isn't fair and I'm getting tired of the cheat code generation calling us lazy.
No he didn't. THEY got out what he put in. They always get what everyone puts in.
This is the employee owner relationship
Lol you spoke facts
@@ChavagnatzeNot even that, they're the generation of standing around the water cooler chatting up a storm, they got to slack off as long as a boss wasn't literally looking at them because there weren't cameras every fifteen feet at the local plant. Most of them had a minimum wage job that could pay for a house while also feeding and clothing a family of four or five while also owning a car or two. They put in what they wanted and got back more than we all do working our asses off week after week.
I work in finance and talk to retired boomers all day long. Some understand how lucky they are but many just don’t and take their low home prices, low interest rates, big families, ability to stretch out paying taxes on the money they inherited, full pensions, and Social Security for granted.
My father, who worked from 1952 to 1990, made $3,00/year in the 60’s.
Raised,fed and clothed himself, wife, five children.
Bought a $10,000 fixer-upper. $100 mortgage, and countless hours “fixing up”
What inherited money? That didn’t happen
@@karidust1 The IRS requires people to take out something called a “Required Minimum Distribution” (RMD) from retirement accounts. It’s a way to force people to pay taxes on this money. RMDs are required for Inherited IRAs (doesn’t matter the age of the person) and for the retired person (while they are alive). Before 2020, a retired person did not have to start taking RMDs until age 70.5 and also anyone who inherited money from their parents that was in a traditional IRA could stretch out taking the money out and paying the taxes on the money over their LIFETIME. In 2020, the government passed a law called the Secure Act stating that now when people inherit IRA money, they have 10 years to take all of the money out and pay taxes on all of it. At the same time, they told retirees that instead of starting RMDs at age 70.5, they could wait until ages 72-75, depending on the year they were born. Why does this matter?
1) Boomers/Retirees are happy because they don’t have to start RMDs until later so it saves them money on taxes. Please note: most retirees are in a lower tax bracket than when they are working.
2) Younger people, retirees’ kids, are unaware that when they inherit this money, they will end up with less of it because they will have to pay the taxes on it all within a shorter time frame and at higher tax rates because they are still working. But they are blissfully unaware because they will not have known that the law recently changed.
This is the government’s way of allowing the retiree’s money to grow more and then get taxed faster and at higher tax rates after they die and their kids inherit it.
@@karidust1 I typed up a whole response to explain what I meant by this, but it appears to have been either accidentally deleted by myself or removed. Please Google: Required Minimum Distributions (RMDs) and the Secure Act. Long story short, it’s the government’s way of allowing retiree’s money to grow longer without being taxed, so when their beneficiaries inherit it, it gets taxed faster and at higher tax rates because the beneficiaries are usually still in the workforce earning higher incomes.
Pensions are a fascinating concept 😂
Minimum wage is currently $7.25/hour. Twenty years ago, in 2004, it was $ 5.15.
Which would be $8.55 in todays money
Ah yes but you missed the part where the government set it like that so they could actually take more so it doesn't match inflation
@@devonroyer5382only about 3 states are as low as 7.25 it is 14.65 in my state.
What country is this. Wth. I don't watch the news or pay attention to other Nation's problems. I prefer to be oblivious and slightly happier than most.
he’s canadian you can hear it in his accent
Prices of living multiplies by 5
Wages earned multiply by 1.5
Older generation: jUsT gEt A jOb
Just keep getting jobs. 5 jobs should do!
The truth about boomers and older millenials and Gen X is boomers didn't buy houses right out of high school. They got jobs, got raises, promotions bought a house ten to fifteen years later when they were making 40K or more. As time has gone by, salary increases slowed down, but those housing prices didn't. They skyrocketed. the neighborhood I grew up in you can buy a house for 50K in the 90's or so, they were going for over double that by the early 2000's, by 2010 doubled from there. Houses in 2017-18 were selling for 300k to 600k. This is an old neighborhood, inner city. People are paying it. Even today in this economy the entire city of San Antonio you can't get a fixer upper for less than 100k.
Cry about it
@@theenclave7391 sounds like you don't have an argument. wanna try again?
@@Bayley4ever how about live somewhere less expensive. works well
“We did whatever it took… to make sure you didn’t have the same opportunities”
they didnt really snatch them away the system did
@@diomio-ri2vo no. They did. How many old people you hear talk about having multiple vacation homes in different states for different times of the year. It wasnt the system, but they sure started to take advantage of it later
@@diomio-ri2vo they were the ones voting for the people who fucked with the system and are still doing it.
@@djspit8929First, what you’re describing is not the norm for older generations. Second, does it really surprise you that someone in their 60s+ has accrued more wealth than someone in their 20s and 30s?
@@diomio-ri2vo They did snatch it away but it's totally unintentional most of the time. For instance, the boomer who tells me "there's too many people in the world" genuinely thinks that we need to make it harder to have children. The boomer that hikes through my bow hunt and scares off all the elk doesn't care that I'm trying to feed my kids, he's concerned about the wildlife.
My mother was shocked to see current home prices. She bought her house over a decade ago for about $30k and spent about the same in renovating it. Comps in her neighborhood are now going for $200k.
It’s not the value of the homes has increased, it that the value of our dollar has decreased that much. Our economy is trash.
NY parents paid 35k for their house in the 80s. It's valued around 600k now
Blame your govt for spending like drunken sailors in Thailand
Being a young adult today is like joining an old minecraft server in survival mode where you know that all of the loot and resources are depleted and you're left struggling to survive
Or being spawned in the 2b2t server where everything at spawn is destroyed and a barren wasteland for 10,000s of blocks and you’re being hunted down
And the whole time you’re being insulted by the old timers for not succeeding as fast or working as hard as they did when the server was flush with resources.
@@sullivanko1902They did create computers for us, we wouldn't have Minecraft or the internet without the Boomers. The automation nowadays is spectacular, don't you realize that they gave us the tools to dominate production?
@FletcherHillier ah yes, how does one succeed in those industries when you need 10 years of experience at age 20, 200k debt from college, and all of the tools before starting working?
@@FletcherHillierdoesn't matter. They didn't have to fight tooth and nail JUST to put food in their bellies. There are some days when the only thing I have to eat is a fucking jar of PEANUT BUTTER. Don't talk about something you are clearly too stupid to fully understand. They didn't have to STARVE themselves just to get by. I do. Every. Single. Month.
Where I live, in 1990, the average salary was $50k and the average house was $58k... Today, the average salary is $57k and the average house is $304k.
I've tried explaining that to my friends and it fell on deaf ears.
Honestly, lucky. Where I live, Canada, the avg salary is 63k, and the avg house is fucking $729k. How in the fuck are we meant to live?
@@lockinglucario4690Wow. You’re not, I guess. How could you??
However there are many places around the country that you can still buy a home for a decent price. Detroit is one. Birmingham is one. Moving out to rural areas is also an option. The list goes on. The issue is that many people want what they want, when and where they wanted it. Get a higher paying job in another city/state and move.
@@lockinglucario4690Try Oslo Norway.. average salary is 790k at the moment, but its that high because 2% of Oslos population is filthy rich. A house in a decent place, you would need cash out 8500$ or more pr squaremeeters.
As a GenXer that bought our 4 bedroom craftsman 20 years ago for 85k, this is the reason I refuse to sell my home. When we retire we are going to build on land we bought abt 45 mins outside our city.
Now if all of our kids do well and have managed to be homeowners on their own, great, we will sell and have a nest egg. If not they will always have a place in the heart of the city to call home. Our neighbors just sold for 650k and their house and yard is smaller than ours. Crazy!
I’m 40, my dad bought a house in 2001 for 220k. 4 beds 3 levels finished basement walkout. 1 acre. I moved in after he died, and his neighbor across the street just put her house up. Single level home, 2 or 3 bedrooms, updated but not recently remodeled….sold in less than two weeks for half a million dollars. $499,999. I’m a single woman, if I want to downgrade I’d be paying twice as much for 1/3 of the space. The first house he bought in 1985 was less than 30k. I just paid that for a CAR. Wild.
I get all of that, except you absolutely don’t need to pay 30,000 for a good car. You wouldn’t even have to pay half of that.
I bought my last car for 11,000. Not even ten years old. Not even 100k on it. I’ve put in around 2k in repairs over the past eight years.
Car prices are even more of a problem than houses.
You can live in an apartment. You can’t really live much without a car.
@@tarman47 this was my first new car. I’ve had two cars previously in my 22 years of driving. I’ve also always lived in an apartment. 🤣
My dad’s always been a “keep your head down and work hard” kinda guy. I wouldn’t say he was quite to the level of “when I was your age I put myself through college” but definitely was always a little judgy about me not making as much as he was when he was in his mid to late 20s.
He said to me one time “when I was your age, I was already buying my second house”.
I went to visit him a few months ago and he turns to me and says “you guys are fucked. I don’t know how they expect anyone to live a normal life in this economy.”
At least he finally understood, I do customer service that caters to Boomers mostly and they are so out of touch, they will go to their graves giving all they have to political donations and private health insurers.
@@alexanderson4497 I’m a RN. Your comment is disgustingly accurate.
I'm currently looking at houses and I've been taking my dad with me the amount of times he looks at the house and says 120k? I'll give you like 20k it's all it's worth is funny and sad at the same time.
The house we live in hee traded a guy a 1975 impala and a flat of beer for in 1983
Where the fu@$ do you find a house for 120k? @@rhaspados666
some are starting to see the the actual state of the world now with how expensive things are and the wages and what employers expect as a given now used to be going above and beyond but for most office roles you are expected to work on time off and be contactable at all times up until midnight and all for the same wage. Homes are some how in short supply but so are materials and people to build them however you speak to people who build houses and they will tell you their rates havent gone up since the GFC and cant afford to stay in the industry much longer if it continues.
My grandmother said the same things; not to belittle me but genuinely wanting to help. And she did help. She helped write my resume. She encouraged me to ask about jobs. And she realized just how hard it was these days. She was furious for me. For all of us. We don’t get out what we put in anymore. 😭 (RIP, Mamal. Love ya)
I'm sorry you lost your Grandma 😞
Your grandma was a real one. F.
Respect for your gram. I went from homeless to homeowner in 3 years, moved in at the end of 2020, and it was rough. I was barely able to do it, and only could because I avoided many traps that are so common in our culture, many of which were in my way because of the previous generations who would call me lazy. It's now 2024 and so much more difficult to own a home than it was just 3.5 years ago.
@@youdidntseeanything8589 Thanks. I like to think she still visits us in our dreams if you believe that sorta thing. She’s up in heaven dancing with Freddie Mercury; I just know it 🥰
@@sabastianleisek396 I’m so fucking glad you have a house though! I’m still with my parents, the saints they are, and gonna build my own tiny house on the property. I hope you have nothing but happiness in the entire!
20 years ago minimum wage wasn't $8 an hour... it $6.75....
I think 🤔 it depends on what state you live in. Is minimum wage $ different per state?
@jenniferlynn3721 there is state minimum wage and federal. State can not be lower than federal. Federal minimum wage was 6.75 twenty years ago...
@@shaunmiller-gruntcomics562but it can be higher, depending on the state. Regardless, you’re not disproving anything
@@jenniferlynn3721in 2004, Washington had the highest minimum wage at $7.16 which means either he's lying or his parents lived in a city with an even higher minimum wage. Let's just say they lived in Seattle. Their minimum wage today would be $19.97 which exceeds the rate of inflation during that same time period.
@shaunmiller-gruntcomics562 federal minimum wage 20yrs ago was $5.15 an hour. I started working right after hurricane Rita tore up my area of southeast Texas. I was in high school then.
Minimum wage in 1982, the year I got out of the military, was about $3 an hour. A piece of junk house in Tucson, Arizona was about $50,000.
Also, interest rate was about 17%!
"You get out what you put in." Okay, if my employer invests in me, they'll get more out of me.
Exactly! They are simply getting what they pay for, which is normally the absolute bare minimum, or even lower.
Facts we need them to get the message especially the landlords 🎉
@@AkariSarzul Yes absolutely. That being said, we can use unions to get them to pay more.
@@klavczarkalafan4191 unions don't mean shit when an entire office can be replaced by immigrants overnight, or offshored entirely..
I worked 70 hours a week. My life was wake up, go straight to work, work for 12+ hours, go home and immediately go to sleep. I still wasn't making anywhere near enough to buy my own house. Barely enough to rent
Private companies should not be allowed to own family housing
This is such a underrepresented issue
You hear “oh but the housing market it doing fine plenty of houses are being bought you’re just not working hard enough”
in reality, its Hedge funds that are buying all the houses and marketing them at extreme prices. We have been getting scalped for years now
Unfortunately they are buying them all up so nobody can afford them. They will offer you very low rent and 50 in social credits when you move into one of their 15 minute prison cities.
Or immigrants
Stupid comment. Has no idea that you are considered a business by the state. Why you have a tax code. Because your just a business to them.
You either make a lot of money and don't get taxed or don't and get taxed
The plan is for private companies to own all single family homes. When they price you out, you will be forced to live in their 15minute cities. Under their control living on social credit.
My dad actually got a little pissed off when I told him our rent was about $400 more than his mortgage every month. (Almost half the size too) He kind of checked out after that and sat down depressed for a few minutes. I know he was thinking "How will my grandson survive"
My husband made $200.00 a week in 1971. We built a 3 br 2 bath double carport home for 11,500. Totally furnished for a total of 12,500. I was a stay at home mom. We paid cash for all medical. Minimum wage at that time was $1.25 an hour. Every cost of living wage has increased everything else more than the raise. I remember paying $3200 for my first car. It was the top of the line at that time.
The most frustrating thing is my parents not understanding our schedule. My mom was a sahm and my dad worked a 9-4 job. Not much overtime. My mother judged how exhausted I am after working a 8-6 schedule, no husband, with a second job delivering papers. I’m honestly tired of her telling me my grass needs cut, laughing that my dishes need done, etc etc . I live in the woods. No one even uses my road. Just stop.
Your mother sounds toxic. A lot of people drop relatives like this.
@@chickensandwich3398 she has gotten better in her old age and realizes my physical problems.
At least you have grass to cut. I’ve gotta download a lawn mowing simulator if I want to complain the grass is too long
@@DblyaC sorry. It’s a very poor rural community - look into it I got a whole house with 10 acres for 70k. It’s a bit of a dump but it’s private and quiet.
I'm sorry to hear that, i wish good things will happen to you soon :""
Also do you mind if i ask, umm.. what's a sahm? :O
I worked for 5 years at a multi million dollar business. I started at 13 dollars an hour packing caps, college kid stuff. I ended up managing and troubleshooting for 2/3 shifts 7 days a week. I took phone calls off the clock, was on call for any issues over the weekend. I left at 21 dollars an hour. What I've put in has not ever been remotely rewarded.
Now start your own company.
@@Zagriel.With what money, genius
@@Zagriel.I keep hearing people say this as if almost every single major company around today wasn’t either started hundreds of years ago or started by someone who was already born a millionaire.
@@alex_runarin alright not a company. A business is much easier to start. He seems like a capable person. So I suggested he work for himself. You won't be able to build skills with money. Not how it works
@@deadinside8891 Most tradies work in companies of 1-5 people. If you want money, be a plumber or electrician and work for yourself.
I’m Gen X. I understand that when we were kids people bought homes that were two bedroom, one bathroom even if there were 4 kids in the family. About 10 years ago people started wanting homes that have 4-5 bedrooms and at least 3 bathrooms. This is ANOTHER reason why homes are so expensive.
An extra room or two doesn't equate to an increase of 500% or more.
My mom bought a house in the heart of Chicago for $34,000 in 1977. Her mortgage a month was $288. She sold it in 2014 and got $684,000 for it 😮
As someone who works in the financial industry, the majority of mortgages we
processed during covid were from companies. Many of those companies were owned by foreign borrowers - mainly Canadian. Families are not buying all our homes and raising the prices, it's the corporations. They were able to make cash offers that consumer customers just couldn't compete with. It's all really depressing honestly.
If you really do some deep digging you'll realize that most of those "canadian" companies are actually illegal money laundering businesses directly tied to the fentanyl and opoid suppliers from China.
And then when there are no more ppl to offload their houses to and the price comes down..they just get bailed out by the govt
The funny part of that is the fucking housing crisis in Canada 😭
I’ll speak for myself as Nova Scotian but like tent cities are real. In Halifax (the CAPITAL) there are dozens of tents lining quinpool road.
I think legislation about corporate home ownership is due
@@rockyrankin11i would completely agree, gov needs to stop companies from buying up all of the residential properties
Need a law prohibiting home ownership by corporations
My grandfather didn't have a job and was broke, but he still got a loan from a local bank for a farm because he had a good reputation in the county
You have a nice grandfather though. That's cool.
When a man's word was good enough because a man's word MEANT something
@@BrandonS-lk2qc Well said, and very much so!
@@BrandonS-lk2qcdifferent time and different people.
@@BrandonS-lk2qcso who raised the generation where you can't trust a man's word?
My Mum bought a house for £6000 in 1972 which she sold 2 years ago, if you were accounting only for inflation it would have been worth be £68,500, she sold it for £445,000.
my family's home cost $6000 back in the day, sold in 2020 for 1.5m
As someone born in 1991 i can say that life up until 2010 was way different than now. Im only 32, it wouldve been easier for me to attempt to buy a house when i was 21 than it is currently.
Also born in 91 and I feel your struggle. At least we got the "best of both worlds" and have modern technologies but also know what it was like before all of this started. Particularly those who were poor growing up and couldnt afford those technologies until later in life so playing outside is all we had. I cant speak for you but I'm glad I got to see both sides. But the downside of it is how crazy expensive everything is now and like you said, just 10 years ago it wasnt even close to as bad as it is now. I rented a house with a buddy of mine and we paid roughly $350 each per month (before utilities but some cheaper ones were included in rent) Same house is now almost $2k per month now (without utilities, none of which are offered in rent anymore) just 12 years later. Crazy!
I was born in 81, so, basically the oldest millennial. I did buy a house when I was 23-24. Had a nice job that payed $20 an hour building trusses for houses. Everything was going great until that recession hit. I worked hard, but no one told me growing up that the economy could crumble and all your hard work is pointless. The company I worked for downsized since you need homes to be built to sell trusses, so I lost that nice stable income. Lost the house a couple years later when all you could get is low paying temp work.
I had enough money to buy a house twice, but my father took it all and went to vegas with it. Now I have nothing and I am mathematically unable to buy a house. I did the math, and if I work 80 hours a week like I did when I was 18, I will be homeless for the rest of my life.
Right 😅 I'm 31 and have absolutely no chance of ever buying a home with how things are. I can barely afford to feed me and my child, yet somehow I make too much to qualify for any help 😂
100% Agree, I was born in 91' as well and can verify this. 2010 saw a drastic change in culture. Was a better time.
The guy on the left is contributing so much to this discussion, it's amazing.
Right man? The way he just took up half the screen and watched a clip, rising star there.
That blinking act was crazy
Bro the way he looked down, and then to the side? Shiiiiiiiii that made the whole video
Its content theft and pls report and block anyone who steal content like this
It's his channel and he wants to share the video of what this person is saying. If he doesn't stitch it (show his face) YT will demonetize his channel for 60-90 days. Dumb, yes, but it is what it is.
Exactly thank Biden!
My husband and I got LUCKY when we bought our house. Rented it for 6 years, and the landlord decided he didn't wanna landlord anymore and offered for us to buy it for what he owed on it. We got a 3 bedroom, 2 bath, living room, kitchen, family room, deck, patio, and storage building on about 1.5 acres. Value is estimated at $195,000. We paid $80,000. VERY, VERY LUCKY!!!!
“You get out what you put in.”
That’s absolutely not a universal truth. And it’s the kind of thing that gets people exploited by unethical employers.
How’s your mom’s couch?
@@seadonkey6913he wasn't wrong you will be preyed upon by terrible employers so I take advantage of them and squeeze every thing they have to offer then move on for higher pay
@@seadonkey6913Be quiet. He's right.
@@seadonkey6913hows your moms basement
Y’all got to get better put downs.
Put some damn effort into your insults, kid. It’s just embarrassing.
I am a clinician. To do my job it requires a graduate degree that puts the most people in over 100K of debt. I have a coworker from the baby boomer generation. For her, grad school cost $500 a semester. She just upgraded to her third million plus dollar home. Most of my colleagues will spend the first 20 years of their career on income based loan repayments and can’t buy home for years.
Sounds like a bad career choice. Kinda like getting a masters in social work or public education. Both cost far more than the average income available from such a degree. Actually, the degree programs are largely overrated and rarely meet the educational needs for the occupation they are geared toward. Education nuked itself in the 70’s and 80’s by requiring unessential coursework to gain a degree.
And if your co-worker is a boomer, she's retiring, right?
Boomers are all well into their 70s by now.
She got to where she is probably by working for the last 50yrs of her life (which seems like you're completely ignoring) and learning how not to spend on things that arent 100% necessary
And got paid a dollar an hour
Why does the younger generation think they should make them the owner give them a house and wa wa they want me to work
@@user-nz4ux4cw2zsounds like you don't want necessary and needed occupations to have any staff.
1980, dad's pay was 1200 and bought house for 70k, sold in 2005 for less 200k, bought land and built home now it's worth 2 mil.
This is primarily caused by government spending. You can thank them.
My dad wouldn't stop telling how he bought over 20 acres with working construction through med school... Back in the 50s...
Hey! He built all those houses nobody can afford to buy now! Good job!
I worked with construction crews in North Dakota. They would leave their homes to live out of a trailer at the construction site for 6 months working 70 hour weeks. They would make enough money to take the next 6 months off until the next gig. You can still do that today but you won't because you want all the benefits without any of the downsides.
@@McP1mpin maybe I deserve better, 2 diplomas and 1 degree, working two jobs after serving in the military, failed athletic career, I don't have a sleeping schedule because I work through the night... So I can agree we deserve better, we pay more taxes today, but get less in return, I'll have to get a miracle or work till I'm 90 to get my daughters into college without debt
back in the 50's ppl applied for med school as their 2nd or 3rd profession of choice or just because and got in...
@@themudpit621 it's called investing...
I actually ran the numbers with my parents as well. They couldn't afford to buy their home right now with their current salary. They had to deal with three kids on two salaries roughly 30 years ago... Today they have two salaries (same jobs) and no kids to take care, couldn't even afford the house they live in
Were they jerks about it before and this made them see the reality of it or was this just for information's sake?
@@UnicornGuru luckily it was more informative than anything else. My parents are aware that it has worsened, but not HOW much it worsened.
After this, I helped look at their retirement funds including social security... It's not enough. They were unaware about that, too.
I ran the numbers on the 1br condo I bought 4 years ago and I couldn’t afford to buy it right now. That’s not sarcasm.
@@janel8733 now that is surprisingly scary. It really got out of hand quickly. I didn't know that it was that fast
So the area they live in has gone way up in demand since they moved in. That is what everyone who buys a house ans an investment hopes for. Follow their example and show in an area with demand similar to what theirs had when they bought it.
This is why my husband and I sold our house in Nevada and paid cash for 92 acres of land in Tennessee, built a small off grid house to keep our expenses low and have plenty of land for our family to build their own off grid homes if needed.
Thats the whole point of buying real estate that it goes up in value. There are plenty of areas that are still affordable. Id like to live in the Hamptons but i can't afford it, so i have to live somewhere . Doing whatever it takes means MOVING to where it's affordable.
Now a small plot of uncleared land costs as much as a house.
Exactly! Not to mention trying to build on it after you've been rung dry
Depends on where you live
Sometimes more depending on where that land is…
Where I live the cheapest 1 bedroom apt I could find costs me $1500 a month. It’s an old motel that was remodeled for apts. I live in a literal hotel room for $18,000 a year. That’s more than a mortgage. I’ve tried to get loan to purchase a house and can’t bc I don’t make enough. This sh*t is so depressing living in this sh*thole and it will be years before I can afford a mortgage. In the meantime I’m spending 50% of my fcking income on my motel room not even mentioning my car payment so how tf am I supposed to save any money. This is out of hand and started when Biden came into office.
@@UncleHarlow may i suggest serving 3 years in the military to get access to a VA loan.
We did whatever it took, and all it took was a minimum wage job
I was working when min wage was 3.75 and I'm not even 50 so everything he said after that first lie sounded like the normal Millennial whining. 😅😅😅
Bullshit
@@Pals777Where? Fuckin Somalia?
I'm 45 and when I started working minimum wage was 3.75 in florida
@@701chevy9
Federal minimum wage in 1989 was 3.30/ hr, and it was 3.80/hr in 1990.
My family owned a home in Queens New York that in 1994 was worth $250,000. They also had a property in Astoria New York that was worth a similar amount. I'm unsure exactly. Rather than rent out the Queen's property which had a basement apartment in it that was two bedroom and one bath and could have easily gone for $1,500 in those days, and then rent out the house which had two living rooms, a dining room, four bedrooms on the second floor and two bedrooms and an attic on a third floor which probably would have gone for around $4,000 a month, and then rent out the second property which was literally an apartment building with two different units in it so I can assume that's roughly $3,000 a month give or take. That would have given my family nearly $10,000 a month in income. They would have been moving to Florida where the property was about $100,000 to purchase. Had they done that with debt they would have been able to pay off that property within a year and been completely debt-free and began acquiring properties all over Florida to use for rent.
That property in Queens is now worth 1.7 million dollars. It could have been sold today and 10 different properties could have been bought. We literally could have been real estate tycoons. And I'm not even counting the sale of the other Astoria property.
However instead of making the correct decision, they sold both of those properties and then bought the house down here for $16,000 cash since they already owned 50% of it due to my great grandparents dying and leaving half of it to my grandmother. Where the rest of the money went I have no clue. I assume they just paid down their credit card debt which was a foolish move rather than investing it. So from 1997 to 2005 all of that liquid assets were gone. By 2024 The family had no money left and now the house that we are living in today is in desperate need of repairs and there is no money left to do anything with it. We can't even rent it out or pay the bills and he has nobody makes enough money to do so and we would have nowhere to live if we moved out and used it as a rental.
However my family likes to pretend that this is all MY FAULT. Because I became disabled 14 years ago and I don't help my grandfather and my mother out with the bills. They don't take responsibility for not understanding that they had the opportunity to literally become millionaires in their lifetime. And every time I made a business proposition to expand our investments I was always told that I was caring too much about money and being greedy and only out to enrich myself.
They grew up in a generation where money was so easy to come by They did not respect it. So they figured that I could just go to work and make money easily. Due to that they have ruined the future of this family generationally. Because of that I will probably end up dying despite having 144 IQ and the financial expertise to make millions. Had I had the same life that they had I would have already had 10 million dollars in the bank by today. There is no doubt in my mind
“Hi bank, I have been paying 3k a month in rent for the past 10 years now I would like a mortgage that’s only 1k a month to buy the same house. Computer says you can’t afford it” That’s pretty much all banks these days 🤷♂️
When my parents talk about getting their first jobs it's made very obvious it was not only easier to get a job, but it was easier to buy literally everything you needed with straight up pocket change. I'm so glad they understand how the economy works and how it's changed and recognize that I work hard, I just live in a time where that's not enough.
Do you think it's possible it's because all of you have become so undesirable as employees that nobody wants to hire
I wish my parents understood, they keep telling me I'm not trying hard enough to get a job. And I'm already working a low paying one now!
In the 8070s 60s and 50s the way you got a job was you walked to the place and you told them you needed a job… The worst you had to do was write down a one page job application, but they were able to see your face and you could talk to him and get a job. now you have to send your resume via email and compete with other people trying to get that job. It is not easier now.. globalization, you have to compete with foreigners that live in other countries for the same job… it is not easier now
Findi one you're happy with and finding a job are two different thing. Let me ask you this: how old is you phone? Are your nails done? How often do you go out to eat or get drink or coffee? How often do you all buy clothes shoes handbags? Perfume etc etc. if your phone is less than 6 years old, that's one problem. Out of the many
I’m so glad my dad understands this. He’ll say things like “when I bought my first house I was right out of high school, making damn near minimum wage as a landscaper… nowadays minimum wage couldn’t buy a cardboard box with 3 roommates and that’s somehow your guys’ fault because you bought an iPhone and Starbucks.” Or “people are so shocked that the middle class is disappearing while at the same time acting like $15 an hour is too much”
It’s very nice to see nothing but his generation (he’s 61) be on the internet saying that we’re lazy entitled brats for wanting to survive, only to hear him say “yea, our bad” when we talk lol. I don’t think he realizes how thankful I am for him having that mindset.
I was told how pathetic I was by my grandmother for not wanting to work 80 hours a week at a job to meet the bare minimum requirements to pay rent and buy food, she told me how hard it was for her when she was my age and how she had to work 4 jobs to barely get by, she also moments later bragged about how she used the system to barely have to work and how she's gotten so much money through exploitation.
You do sound like a chump though.
They have amnesia and split personalities lol boy I swear
@@JesusLovesEVERYTHING It's because they have the overwhelming need to brag while also needing to complain about how much harder it was for them.
They’re emotionally stunted, they’re blind to their own hypocrisy, people need to be taught psychology growing up, they repress struggles often starting from an infant when needs go unmet and they develop personality issues
sounds like she likes to use bullshit to sound holier than thou.
If I couldn't afford a 450000k house, I would consider buying the land, buy and get approve 5-6 shipping container houses. Pay for a fraction of a track house these days.
My friend's dad bought his house for 400k. It has water damage, structural integrity issues, and termite damage. He is talking about selling it now for more than double what he paid for a perfectly fine house. 😐
They also didn’t have half the bills we have today: cellphone, wifi, cable, student loans, cars were purchased outright for $1,200.
Pretty confident they had phone bills, TV bills, and student loans, we no longer have to pay for gas, and you can still absolutely purchase a car outright for $1,200, my roommate did it this past year and I have almost done it myself multiple times just to have a second car. It's just the fancier cars from this decade or cars with no surface damage that you'll be paying so much for. Find a dude on the side of the road and you'll be set.
It's not the bills we have today, and if it were, honestly you could cut half that shit. Cell phone? You can get a plan that has unlimited talk and text and no data for as low as $5 a month, and you can get a plan that uses WiFi for phone service for literally free. Cable you straight up can just ditch, it's not needed nor useful when you've got WiFi and can stream shit from RUclips to your TV. Again, find the right cars that you can buy outright and you've cut that.
It's not the bills. It's the pay and the pricepoint of housing. The biggest issue is that housing is a necessity that will continue to be marketable even if consumers don't purchase, as there'll always be a market to businesses that rent/lease/flip. This means that despite prices being ludicrously high, there's no incentive to lower them to reasonable levels. If wage/salary doesn't rise at similar rates as housing value, then this only worsens that disparity.
20 years ago cars weren't anywhere close to being that cheap btw, 40 maybe.
So don't purchase those things? And buy a used car
@@garrett892Yeah Live without anything but walls and a bed In your apartment.
I would say you could just get rid of those things and save your money, but you literally need those utilities in order to apply for and maintain most jobs.
- Car for transit
- Cell for comms with EVERYONE
- WiFi for school/work projects
Good work is no longer rewarded with pay...but punished with more work
Yup. More work, more responsibility, no more money. In most companies, going 'above and beyond' just tells them that you can be taken advantage of.
Meanwhile the suck ups that got their work dumped on you are still there getting the same check as you are
Weird. I make 300k doing good work.
@@seadonkey6913where? Doing what? Was it a openly available job or did you already have a connection that got you in easily? All of these and more are factors that make you the exception, not the norm.
Self defeating thoughts don't help yourself friend
No one ever talks about how we’re running out of empty land.
30 million illegal immigrants plus 10 million legal immigrants should help
My mom bought her house is 1999 for $100k and there is the same model for sale on her street for $380k today.
A $400k house used to be incredibly nice where we’re from, even 5 years ago. Now $400k is a starter home.
And veterand and government income can only get a livable 250k house which doesnt exist in a 5 hr circle of me.
Make it make sense 😭😭😭
@@user-wt4bf6qw2o greed and needing to be better than. They chose to be better than the next generations by holding us to standards they had. We need better leadership or we will never have nice things as a society again.
$100,000 in 1999 equals $187,400 in today's dollars. If the house is in a good location, its value will appreciate faster than its initial worth. Apply the housing shortage factor, and its value goes up even more. If she's made desirable improvements to the house or yard, that increases value.
To quote Mattlock:"The hell it is!"
😂😂😂
My widowed mom, who raised six kids largely by herself, scraped up enough money to buy a house in 1984. She died in 2020, and the next year when we sold the house at slightly under market value and split the profits between us, each of us had enough money to put down payments on houses of our own. My mom did scrimp and save to afford that house, but buying it was NOTHING compared to home prices today.
So you sold an asset under value and are upset you didn't get more or your didn't attempt to by a home of proximity value to your budgets.
Bro can’t read
@kejuanwilliams9151 then please, all means, enlighten me. Because how it read to me was, sold mom's house for under its market value. So for less than its fair value. Then split that 3 times to add to existing budgets to purchase homes with. Spent that on down payme ts to homes you ultimately knew, you could not afford Because your budgets were spent on the down payment. And that's not your fault how?
@@jetcox6760Spend less time with that "seductress of a car" and spend a little more time reading, eh? Might do you well in the future when you're all grown up.
@lorddoge8410 I don't know, I seem to be doing well now, it's everyone else complaining it can't be done but, whatever. Like if your trying to shame me because I am able to spend money, own my home and not have to cry to the internet because "life hard" not sure how you did that. But, what I want to know is, who told you all that life would be fair, easy and not hard? Because that's a lie. Life isn't a sure thing, never has been.
$8 minimum wage? It was $5.15 in the late 90’s when I popped popcorn and cleaned movie theatres. My dad was making $2 back in the day as a classic boomer. Age 70 today. He also drove a forklift on third shift, learned pipe drafting and plant turn arounds. He worked in one high demand industry for 40 years. 80 hour work weeks were not odd when I was little.
No zoom calls. He would leave for two or three weeks at a time to consult on major projects. He called my mother every morning. They were true to one another.
I'm not saying it’s not harder now, but I have blue collar friends making more than friends that went to law school and I know plenty of gen z kids who are smart. Settling in early, marring young to people with good values, and staying close to home with family to help with child care.
Yes. Its hard. I'm 42. I watched this country implode, but my parents and all of my aunts and uncles didn't chase pipe dreams. They work extremely hard and weren't wealthy till their 50’s. Most of them had a ton of kids to feed too.
Dog my school can barely afford food and a bag of chips at the corner store is 5$ I genuinely don’t think I would be able to afford to feed myself every week without my parents and that’s me living at 5’11 120lbs
Bought my first house in 1998 for 89k. It was a 1200 square foot bungalow and my mortgage was 750 per month with 5% down. I made 65k a year then. That house today is 350k.
I say we drop the bottom out of social security and then tell the boomers "you just gotta work harder, old man."
YESSSS
kinda hard to do that when they paid into that their whole lives......
@@hartle4Im 28, been paying into it since I was 15. Theres a snowball's chance in Hell I will ever see a dime of it. That goes for anyone my age.
That happens automatically under current legislation when the surpluses run out. predicted 2035.
If they're not going to pay it to us, they need to stop fvcking taking it from our checks.
My dad used to be like that guy in blue thinking you could just walk into job land and then get a house and start a family.
He's finally come to terms with the fact that no one is getting a house without sharing the bill with probably 2 to 3 others.
My parents house was 45,000 bought in 1967. The economy now has raised prices now on rent and mortgages to the point where even a couple with full time jobs and 1 child would have to make 5k a month to rent a 2000 2 or 3 bedroom apt. I have to borrow 400 each month to play my mortgage for my house because the house was 787 20 yrs ago per month and now it's 1300.
The simple truth is that prices have massively outpaced income, so much so that it’s not possible that it’s an accident.
My math teacher house cost the equivalent of 6 years wages when he bought it, when he died it sold for the equivalent of 14 years wages.
location location location!!
Same wages?????
Im renting a 900sqft apartment with a roommate. in 2018 we were paying $1100 a month with utilities included.
that same apartment now costs us $2130 a month, no utilities included (~$350).
the average single family house cost $300k in 2015. That same house costs $550k today.
I had saved up $45k for a down payment, but by the time I did that I could no longer afford to pay the mortgage. I continued to save, but the cost continued to outpace my savings. food, gas, insurance, etc. all went up too.
now i am looking at the trend and it looks like by the time I save up another $60k for a 20% down payment (which is what I would need to keep the mortgage payments within budget), house prices will be even higher and I still won't be able to afford it. not only that, but rent will cost even more so it will take even LONGER to save up and may even outpace my income.
Im not even making minimum wage. I get paid fairly well right now. nothing amazing, but well above the average income...
I shouldn't feel this trapped. I can't even imagine what true low income families are going through right now.
For this reason alone, our parents shouldn't be selling their homes that they've finally paid off. All they're gonna be turned into is Air Bnb an Vrbo rentals (the new time shares) my Mom THANKFULLY gave me her family home to raise my own in an the savings is helping me to teach my kids how to work to save and instead of buy a house to buy property an build on it so that when they want a family they can actually have a home to own an only rent when they choose to travel.
First time homebuyer assistance my friend. Bought a 2300 sq foot 5 bedroom last year. Only needed $14.5k down. Negotiated for the seller to cover closing costs. I thought I would never be able to buy a house until I actually started the process and now I’m mad that I waited so long.
20/hr right now and it's unbearable
We try to find things every day to keep us from killing ourselves..... thats how
@@bataton7733 it's true but God damn if older people around me would see it. We're not living.
I'm 47 years old and even I have noticed how bad things have become. I remember when looking to buy my first home in Miami at 25 and you could still find a home for a little over 100k. 20 years later that same home is 650k. At this rate we will become a nation of renters while all the corporations who don't need to mortage these homes will be our landlords.
Housing shortage. Blame zoning laws and Nimbys who want their view and no traffic.
I work with an old man, and he, with a straight face, says it's better now than it was back then.
Ask him for examples if you haven’t already. It may prove enlightening.
@kevindahlenburg6014 The best argument those people can have is the Cold War and Vietnam. That's it. Boomers should look back and realize it wasn't that big of a problem.
Ww2 caused an economic boom, making every person who isn't at least 96 years old make that argument a bold-faced lie. From 1946 to 1998 were probably some of the best 52 years humanity will ever experience for at least another 20-30 years.
The only times I can consider being truly bad was the satanic panic in the late 70's to early 90's. Even then, it was still the boomers who caused that to happen to gen X, millennials and late gen Z.
I really hope I don't sound like I'm trying to start shit on the internet, like a lot of other sore losers here, just wanted to share some thoughts
If he means healthcare and technology and SOME laws, then yes it's better, it's better for HIM. Doesn't mean it's better for you. Likely means the opposite.
Boomers were young in the 70's and 80's. Inflation then was insane then. And minium wage was not $8, when I got my first job in the late 90's it was 6.25. Not sure where he got this information
Yeah for him maybe because his house is paid off and he has a retirement fund lol
I am a Gen X'er
I was told this by a boomer back 2006... This guy broke it all down on a wall.
Then 2008 hit and I bought my 1st house for $118k.
fast forward to today. That house sold for $220k.
My salary went up by $3 per hour.
Meaning I couldn't even afford that house now!
that's pretty messed up right!
The middle class started at $30k for all these bootstrappers that refuse to retire, because they need their fifth boat.
It's now $172k, if you want to own a home
Same. My husband and I wouldn't be able to afford the house we have now if we bought it today. It would be close to $420k based on the estimates online and what similar houses are selling for near us. We bought it for $205k back in 2015. And I think the only reason we could afford this house in 2015 is due to the money we got from selling our first house we bought in 2010.
@@Flamingtac0 I know... and these mothers F'ers are so cheap they still think there is value in a penny like when they were kids
@@smania7575
facts....
The only way for you to make it is to work and pay it off.
I am in the same exact situation as you. Sold my 1st house and bought another at the end of 2016 for $230.
(I seen the houses going up fast in 2016 so I wanted to get into one pretty quickly)
This house is valued at $450k now!!!!
it's insane....Plus all of the utility bills don't seem to stop going up for some reason.
These corporations are charging more money but they aren't paying their workers more money, and they are calling it inflation 😂
I went to high school out here in Metro Detroit. A lot of the new build houses had signed starting at 200 K to 300 K which to be honest made it seem like this was a gonna be a great place to start a family. Those houses are $600,000 minimum right now. The crazy thing is I’m talking 2015 and 2016 to right now.
It’s almost like there’s too many people, which means too much competition. Might not want to bring in over a million people every year looking for a home.
My parents got their house for $20,000, in the 60s, after my dad died my mom sold it for over $700,000, but of course with Medicaid pay down she was only allowed to keep $50 and anyone she gave money to as a gift had to give it back..
Fortunately I bought my house from someone in a similar situation for a quarter of what it was worth, they had to sell fast, I was able to get in quick because I already had my mortgage approved and my down payment ready.
A lot of my friends just brought land at county auction, and live in a shipping container.
But if you get sent to jail for 30 days or more and your mortgage requires that the house is your primary residence you can be instantly foreclosed on because you're in jail and now jail is your primary residence.
It's amazing how quickly a life's work and dreams can be taken away.
The bigger problem than affordability is the lack of security and the lack of care.
“You get out what you put in” is the biggest lie I was ever told. That’s a 200% FALSE statement. Life is horrible. That’s the truth. Life is a nightmare and it gets much worse as time goes by. There’s the best “advice” you’ll ever hear
amen.
lol that’s a pretty poor outlook on life my friend. the statement “you get out what you put in” like all sayings like that aren’t meant to be taken at face value. If you’re putting in tons of hard work and getting nothing back, change things up. TRUST me places are looking for good workers. If you’re under appreciated then find something different. It will NOT be easy but it is definitely possible. I’m doing it and loving life. I go to bed exhausted and sore every night but I LOVE it!! Life is not a nightmare (unless you get tangled up with the wrong woman, that is one thing that can destroy your life! Women are evil! lol) but aside from that your dreams are out there man. Like I said it won’t be easy and it won’t be over night but if you keep pushing you can make it happen.
@@Sheruff1978 "If you’re under appreciated then find something different"
I have a perfect score on 1 diploma and high scores on others.
I can get about 1-2% reply chance to job applications.
and in those interviews, they look at the perfect score and say "yeah thats worth waving around, nice", add some small talk and good wishes aaaaaand no job, back to sending applications...
I´m now a lifeguard and just sticking with that the rest of my life...there are no opportunities out there without connections, FACTS :(
Folks need to join their unions, nothing will change without collective worker power
@@Kissindra ugh unions are the worst! I am a union member and I hate it! They protect the worthless employees, so the rest of us have to pull their dead weight. And they’re just as greedy as the corporations! They don’t care about the worker or their wages they have two goals, 1) stick it to the company and 2) get as much money from the members as they can. Take a close look into the spending habits of the upper levels of your union and I promise you won’t like what you find!
I’m 60. I don’t go on and on about how we worked harder back in the day. In Toronto home prices have increased 500% since 2003. Wages, have increased maybe 30%. It’s insanity.
I once had someone try to tell me how hard it was to make payments on the house they bought in the 80s on 15% interest on their minimum wage salary. I was like "hard"? try literally fucking impossible.
@@K.C-2049 what we’ve seen is a bunch of people ride a tsunami upward not giving a shit about the massive divergence between home prices and wages. And many of these douches are investors and flippers driving prices higher passing on their costs to renters. It’s disgusting.
@@kevinn1158 the fact that landlords can pass on every single cost associated with the home that THEY own to renters is very disturbing. I've had people freak out when I suggest that landlords shouldn't be able to charge more than half the mortgage being like "WELL WHAT BENEFIT IS THERE FOR THEM?" and it's like "... the hundreds of thousands of dollars of equity in the ever inflating housing market?" lol
@@K.C-2049 I don’t think restricting the rent is a solution. The problem is at the other end. The govt allowed way too much leveraging against other properties and there hasn’t been proposition of rental properties because of rent controls. Also incredibly high development fees, land transfer taxes, GST and slow approval process has created a ridiculous situation for why buyers. 25% of the cost of a new home is taxes. And the govt then turns around and tries to build public housing as a solution. 2 million dollar townhouses in the centre of Totonto is public housing now.
My mother is 62 and decided to go house shopping in Ohio this year... It's been hell finding anything she can afford, and that's with both me AND my brother trying to find her something.
Minimum wage was actually between $6.75-$7.50 per hour twenty years ago, not $8.56. However, the cost of living is through the roof. My son (24 years old) and his girl pay $2600 a month for their apartment in Maryland. They do not live anywhere near downtown.
The national minimum is 7.25 now and has been for over 10yrs, the state minimum can be more, depending on where you live. It's way worse today, food & gas prices too 😕
Banks was not handing out money like they do today. Plus back then you had to have a down payment of a min of 20% and for over a 100k they actually wanted 30 to 35 % down and interest rates was around 18%
When I told my grandma what we paid for are mobile home she freaked out and told me she paid around 10000 for her house with 3 bedroom finished basement at least 3 cars fit in there garage sitting on about an acre and a half of land
And that was 200 million people and entire libraries of new regulations ago and when min wage was 3 dollars an hour.
@@joseph1150yup back then prices matched with pay more too. Back then you could pay for college at a summer at the ice cream shop. Now you'd have to work full time for 5-10 years for tuition.
@@joseph1150 yes, times were different, so the old guy in the video shouldn't expect what worked for him should work for people now. He should just be happy he lived in his time and got what he got
@@joseph1150and at 3 dollars an hour, the house was worth just over two times the income of a full time minimum wage worker. Where's the 40k house at that's liveable and had the features grandma had on her 10k house?
@@joseph1150 Lmao, this guy thinks regulations is why its unlivable now...
They don’t want you to have ownership of any land
Shhh, don't tell the leftys that. They won't like you very much. Goes against their narrative. They'll vote ideology over self interest until they're dead. Even then they'll still vote left.
Without an alloidial title, no one owns land. You’re paying taxes on it, that your rent. If they want to run a road through your land, they will take it from you and pay you what they feel like it’s worth, whether you like it or not.
Welcome to corporate America!
@@Phuq-U2ubeyou don’t pay property or land taxes to corporations. It’s the government. Also most inflation issues are caused by governments.
@@rachelr9352re-think everything darlin.
I can remember bying a house 10 14 thousand dollars 10 bags a groceries for a 100 dollars a new vehicle payment was 117 a month paychecks every 2 weeks 800 dollars still plenty money left over in the early 70s
My parents bought their home on my dad's wage in the 70s.
It cost 3.5 X his annual wage.
That same equivalent wage would now need 10x the annual wage to afford the same home.
I had a convo with my mom the other day that blew both of our minds. When she was 15, my mom was working part time in the 80s. With 3 other people, they were able to come up with about $350 in rent for their 3 bedroom apartment. They were poor, but it was livable. Right now, my mother owns a single family home in the same neighborhood. I see her old building every day.
The same apartment building is currently listening 1 bedrooms at over $2100 a month. I’m currently working part time in the same area she did and my salary is probably over twice what hers was. It would still be IMPOSSIBLE for 4 people making what I make to afford JUST RENT for a 1 bedroom, let alone THREE.
I bet all the units still have their original cabinets electrical and plumbing from when your mom lives there too.
You're point definitely still stands; 500 a month is terrible I made more than that as a bus boy in highschool. And I lived in Texas where minimum wage is still 7.25. I made 6 an hour and got tip share and the most hours I worked in a week was 38
Have you tried looking in an area that has similar demand for housing now to what your mother's neighborhood had back then?
You forget just how much the value of your money has Dropped in that time . Also we didn’t really need many extras seen as necessities today .
I bought my first house in Kansas in 1993 for $25,000. 3 bed, 1 bath. Housing prices don't even make sense anymore. I keep waiting for the market to crash like it did in 2007-2008
First it was in Kansas, where nobody wants to live, second it must of been a piece of crap because I bought a house that same year, for 145000.
The market will crash when the middle class and below are effectively bankrupt. That’s when the elites/DarkRock will pounce on the “market crash”. In other words, you’re waiting for nothing.
The problem is with the supply side. There are nowhere near enough houses for all the people, so only the most egregiously over funded people ever get a place to live.
@@jaceseldom8236who asked?
@@grantharriman284 and we keep…importing more people with no skills, and no desire to better our country. Stop immigration and home process will stabilize.
My wife and I were so fortunate to have purchased our home 20 years ago just as the market was starting to go nuts AND mortgage rates were falling.
Best thing we did was stay in this home. We didn't "upgrade" to a bigger, fancier house. We paid this one off early. It is 100% ours and is now worth twice what we paid for it.
We were damn lucky with the timing of it all. I don't know how couples starting off today can buy a decent home and not become "house poor."
Spot on. They are the reason it's like this. When they got their education, the majority of americans did not have higher than a HS diploma. So they saw it as a way to send their kids to do better than them. Those kids became adults and saw that education was not necessary to improve their lives so they stop funding and caring how much education costed.
So, I am a millennial who is doing well; I own my own house, just under $200k a year, have a kid, and I didn't go to college, so I don't have massive debt. Still, in trade, I have had 11 surgeries between both knees and both shoulders. I am a si gle father because working 80 hours plus a week doesn't work out well for relationships, and at one point, I was taking massive amounts of pain pills every day. The "pull yourself up by your bootstrap" talks about weak people who are blind when it comes to accountability; Boomers gave out the participation awards but then called us the participation generation; Boomera told all my friends they had to go to college or they would be homeless and now say "you are the ones that went." They all, for the most part, got houses or money from their parents, which we call "the greatest generation." They now sell those houses for millions of dollars. They are the ones paying us the same they made 30 years ago. Are some millennials lazy? Yes, but not all of us, those working hard, will still not "get what they put in."
The greatest generation were the ones who fought WWII boomers were just spoiled trust fund babies who didn't have to have it hard and could afford to live off minimum wage it's why they're called the baby boomers bc after WWII everyone got home got married and had kids. This guy who is at the beginning of the video is one of those delusional think he worked hard types that are ignorant to the current situation. I feel for you brother hope you're doing better, can't do nothing but feel sorry for the 🤡 who said "we did whatever it took" lol their fathers are the ones who did that he's nothing but a hand-me-down liar
You also forgot the "you have to go above and beyond what your job requires you" only to proceed to reward that with more burdens instead of a pay increase and promotion. Rather hire someone new than to advance deserving people. Rather spend more money retraining and have turnovers than that.
Also, you are more rewarded if you move to another company as it gets you a much higher pay if you leave within 1 year of working compared to being in there for almost 1 decade.
Well put, Joe.
Bet you're raising your kid right, too.
They're lucky to have you.
@@Soul_Alpha it's crazy how much lies a person will try to sell you. I had a boss that I knew in high school. He came from a semi wealthy family and made good money selling drugs. When he got older he realized he couldn't use his drug money to buy stuff. So he used it to start a construction business. Everyday he would tell these stories (all lies) about how tough he had it and how hard working he was. While everyday he would drive to the job site, drop off tools/equipment, talk to the customer, then drive around and get high, come back for the check and equipment, and leave. It's like he forgot that I knew him in the past and also know mutual friends. If you have to tell people a lot if words on a daily basis to convince people you are something, you probably aren't that thing. Cause you know what speaks louder then words, actions do. I don't have to tell anyone I'm a hard worker cause they just see me working hard.
Don't you just love how all the high and mighty people in this comment section, calling everyone lazy for not working 6 jobs, completely avoided this comment? I guess it's proof they don't work as hard as they say they do, or they wouldn't need to talk down to people in worse circumstances than them to feel better about themselves.
I am 71 now. My first house cost me 41, 000. We were in our mid 20's. We both worked with this caveat. We had gone to college, so our wage wasn't minimum wage. While I worked going to college, my wage was 2.50 an hour. But I have to point out, everything else was cheaper too. Gas was 10 to 15 cents a gallon. Cigarettes were 25 cents a pack. A cup of coffee was a quarter.
You cannot compare the two era's without taking into consideration the rest of the cost of living.
We made FAR more than minimum wage because we went to college and still the 40k was a HUGE amount of money. It required both of us to work. One salary to pay the house payment and the other to pay for everything else.
The housing prices in my state are frankly obscene and are being driven up by people coming from other states where housing sells for insane amounts so sellers know they can charge 10x what the locals can afford.
Here's a joke for you. You know what you could buy with a quarter back then? Cigarettes.
You know what you can buy now? *Pity.*
My grandfather delivered milk for a living. He raised a family in a neighborhood with Dr's, had a "camp" 45 minutes away on the bay. You can't come close to that today as an actual Doctor.
Ok, I agree that house prices are way above what the current market can handle. But when I bought a home it was right after a market crash in the late 80s and I still could not afford a home phone, cable TV, or a second car. Those were things I gave up to own a home. Because I gave up those and many other things I now own a home.
My mom tried to argue that nothing had changed. Said she worked in a factory and made about 500 in 2 weeks. Her rent was about also about 500. Told us that she would pay half her monthly check for rent and doesnt understand how we complain since she made about 8 an hour and we make 18 an hour.
She asked me how much i make a month and then how much it would cost to rent one of the small apartments up the road. I made about 2,200 at the time and the rent was about 2100. Yall should have seen her face. 😂😂😂
2100 in rent for one person? Jesus? Where are you living, downtown New York? I could easily find you a cheaper place to live in 99.9% of America.
@@bengrohmann9529 in ontario canada, those numbers are pretty standard, although i dont know where the OP lives.
2k a month for a 1 bedroom. I live in a mediocre city, nothing fancy, not downtown, not a nice complex. My brother lives here and his car was broken into 5 times in the last 3 months, windows smashed. I cant even afford a car on my income.
When i got here 2 years ago i was quoted 1550 for the same unit.
Shit happens quick my man
@@bengrohmann9529no you can't, he'll in the tiny shit hole town I live in right now it's like 1200 for a one bedroom apartment.
A@@bengrohmann9529An efficiency in Miami (a one area garage-room) will cost you $1900. No washer or dryer, only one person allowed. A one bedroom apartment is about $2700 a month. We're not talking about the beach, it's Kendall, about 1 hour from it.
Yeah but that $2,200 was 40 hours a week at one job right? So how much do you make at your second job?
I’m a boomer and, believe me, not everyone that’s my age thinks this way. I have been in real estate for 25 years. It is absolutely unreal how much prices have gone up without corresponding increase in wages. The starting price for most homes in our area is $300,000. A quick way to gauge how much you’ll be qualified for (notice I said qualified for NOT what you should spend) is 2.5 times your annual income. That means someone with an income of 100k would qualify for a $250k house. A few years back we could get people with incomes of 50k into a decent house. Now they MIGHT qualify for a 500 sq ft condo. There is a huge problem here.
My mom bought her house, in 2002, for $77,900. The mortgage payment was cheaper than the rent she was paying. Now, the only empty house on the street is for sale at more than $197,000. It was, definitely, easier to buy a house, just 20 years ago. She has paid off her mortgage. But, today, she wouldn't be able to buy on the money she was making working retail.
20 years ago, in 2004, minimum wage was $5.15/hr
I told my employer if they want to keep me they need to raise my salary by $25,000. So far they raised it $12,000. I'm giving them another 6 months or I'm gone. Worked at the same place for 17 years and don't want to leave but I i have to take care of my family. I feel bad for those who are stuck and for those who were born after me. They got a raw deal.
Make sure you have a new job lined up first. It’s rough out there.
@@jordanhancock279frr or youll end up at BK
It’s humbling that you made it that long. Careers are dead. They mold you to go to college for a career that may push you out or be undesirable once in the field. If you let them know that pay is what gets your goat, they will hold the reins. They don’t gaf. They’ll just bring in a drone, with little knowledge of procedures and policy, for less pay.
That's 6 months too long. Get that income somewhere else from someone else who appreciates your skills.
Same here, ~20 yrs with one company bought by another company about 5yrs ago. Told them 20%, they gave me 14%. I'm looking now
In 1989 my dad made the same amount per year that I’m making right now in 2024. No cell phone bill, no car loans, no student loans
Min wage made about 1369 a month before taxes taken out.
My parents are boomers. They bought a home when they were in their 30's, which was in 1983. This guy is talking about 20 years ago how his boomer mother bought a home, in 2004.
4 years ago, the average cost of a home in my state was $200,000. Today, the average cost of a home in my state starts at $450,000.
"You'll own nothing and be happy"- C. Shwab
Right, it's not 'oh those boomers had it good', people who bought TEN YEARS AGO had it good!!
Average home here in 2019: $75,000. Today $375k. No one can afford it. They’re selling houses to folks who can’t afford them. I live in one of the top states for foreclosure. 🤦🏽♀️
@@sabora81 , they want everyone to be renters, but renting isn't affordable either. Average rent in my state is $2,400 a month. Add on utilities and internet, and you're looking at around $3000. That's just the cost of housing. We haven't even talked about car payments, car maintenance, car and health insurance, renter's insurance, clothing, and groceries.
It's cheaper to die than to live.
Translated: "We will take it all and you'll let us".
4 years ago I didn't even own a state
In case it bears repeating, the housing bubble in 2008 wasn't an accident. The current housing market isn't either. We're being systematically priced out of independent living, even the fantasy that it was is better than the nightmare it is now. "You will own nothing, and be happy". Something gross like that.
Not being a smartass but learn some basic skills and build your own. We recently completed our guest cabin, doing 80% of the labor ourselves over 14 months with a total investment of under $150k... county assessment says it increases our total property value more than $430K. Meaning we could sell it and a 1/2 acre it sets on and have nearly enough to build three more just like it.
@@brothergrimm9656 special snowflake alert
The current mess is a direct result of the 2008 crisis. In my state, more than half of all home builders went bankrupt so we have been underbuilding for the past 15 years. Compound that with the lack of starter homes being built and we have the current dissaster.
@@brothergrimm9656 bet your place isn't up to code and can't withstand our regular natural disasters
@@VilliageSquidiot You'd lose that bet pal... now would you like gravy with that crow?
Both statements are true. It was easier financially for the boomers, but they are also a hardworking generation.
They didn't have luxuries. They worked to pay for food to cook at home, mortgage, transposition, insurance, and savings. They didn't have cellphone, streaming, internet, doordash, starbies, etc etc etc.