Managed this as a millennial - had absolutely nothing to do with my parents helping pay half my deposit. Nope, absolutely nothing to do with that whatsoever.
I have an offer for a family member to pay the entire deposit and I’m still not buying a house. I’m in top percentile income too but I’d rather retire early and meagerly rent than be stuck for the next 3 decades.
how is owning a home a barrier to early retirement more than paying rent with money you will never see again? you wouldnt be stuck for 30 years and if someone’s gifting you 20% it seems foolish not to. perhaps you should do some self education on retirement and money
The housing market is in a bubble right now. Buying a house is no guarantee of equity when the value can plummet and put you underwater at a moment’s notice.
The value of a paid off home is not the equity, that’s just numbers on a paper until you die and your heirs sell. The value is in living for peanuts for the rest of your life.
My house is paid off. My monthly housing costs are $735 for property tax that can’t increase more than 2% year due to California law. My neighbor three doors down with the same floor plan rents for $8500/month. That difference will only increase for the next 40 (I hope) years until I die.
Even my not-paid-off house is saving me money, since rent has continued increasing and my mortgage has not. I’d probably be paying at least twice in rent for this house as what my mortgage payment is. Bought it 12 years ago.
Yeah I don’t think people realize that the biggest advantage of owning is to lock yourself into a stable housing cost. Even before it’s paid off, you lock in a more or less stable monthly housing bill. Maintenance sucks, big ticket repairs suck. But you’re always going to need somewhere to live.
I bought a place ten years ago, and if I was renting the same house today it would be about double the mortgage. Sure, I highly doubt that doubling will happen again in another ten years. But I doubt even more that we will ever see the prices back at 2015 level.
Rent often isn’t too far off from the cost of buying. The main financial advantage of buying comes from appreciation, which I would say is a pretty big gamble.
You can afford a home on a single income if your income is 3-4x of the value of the home, roughly.
Where I live lots of people can afford homes, but they are just super angry they can’t afford the homes that they want. They don’t want a 2bed condo for 400-500K. They want single family home with 4bedrooms that’s about 3-4x the size of the condo, even if they don’t have kids, and are outraged such homes aren’t affordable for a single person.
But also, lots of people, don’t save intentionally and still complain they can’t afford stuff, even thought they could if they did save. These are the types who argue with you that 300/mo on gyms is a necessity… but they never go to the gym.
Ok boomer
Average annual family income in the US is around $80k/a. Are you seriously suggesting that families should be looking for homes in the $20k to $30k range? What kind of home, exactly, do you think you get for that?
This is how we get trailer parks in tornado alley. Or mold infested hovels.
Cardboard box next to the fish market dumpster.
We used to dream of being next to the fish market dumpster. We had to live in a paper bag outside a hogfat rendering plant. The smell still hasn’t gone away some 50 years later, my wife says.
I think they worded that backwards and are referring to the adage (or maybe that is what the banks go off of?) that your loan shouldn’t be for more than 3x your income. So if you make 80k per year you can generally afford a $240k house.
Going above that 3x means too much of your income goes to paying for the house and you don’t have enough for other living expenses+maintaining the house.
Now good luck finding a home for only $240K in an area that actually has decent-paying jobs…
Just as a real example, 70-80k/year is very feasible in the Philadelphia area. I saved up around 90k across a decade (with a worse income…) and bought a place for slightly over 350k. The thing is you NEED that initial down payment amount to make those numbers work, PMI with less than a conventionally mortgage down payment is a debt trap. Most people aren’t financially literate, and people with large amounts of capital take advantage of that in the lending and real estate industries.
If you can settle or pool resources this all gets easier, and if you have disabilities or make poor financial decisions it becomes impossible and you rent trap yourself. Renting still makes more sense for people with jobs that move around, though.
You can afford a home on a single income if the home is 3-4x that of your income, roughly.
FTFY
For a community called “LemmyShitPost” there is an awful lot of gold here.
Lemmy’s shit is someone else’s dinner
🤤
The boomers have lost all respect
“Ok Boomer” means “that’s nice, now go sit down grandpa, the adults who live in realityare talking”
I treat it like, “Ah I see you shared an opinion in public that is the reason your family abandoned you. And here you are, alone in society - still holding on to your shitty thoughts, and you will die alone.”
The boomers are like people who think misandry is real. Not necessarily in need of torture and public execution, but definitely not worth listening to.
Genuinely can’t tell if this is a joke or not lmao
I’m just trolling lol
This gives me flashbacks to the one time in my life I really wanted to answer “okay boomer”
My father in law was supporting the claim the climate change might exist, but it’s nothing we have to concern ourselves about because it’s going to take decades to do anything.
And I was like: you have grandkids, they will be there in decades! And: you just experienced the first drought of your country, how is that not climate change??
After half an hour going in rounds I gave up and bit my tongue to not torpedo our relationship. Two years later he admitted that maybe there was something about climate change nowadays…
Decades ago my stepmother did this in front of her 8 year old daughter… I was like, ok you’ll be dead, and you don’t need to care about me as your stepson, but what about her?
Ughh… Now her and my dad are MAGA…
Two years later he admitted that maybe there was something about climate change nowadays…
At least they changed their mind (a little bit). I think this is a huge part of the problem: admitting an error and being supported for that admission is something that is frowned upon in certain groups. I think toxic masculinity plays one big factor here. Admitting errors is seen as “not masculine”, especially within conservative groups.
it’s frown upon by every group.
nice way to blame ‘masculinity’ though. as of women or something don’t do that shit.
I am not sure where your defensive reaction comes from, but please read something about toxic masculinity before being so vocal about your opinion. Toxic masculinity can be reinforced by all genders and all genders can be victims.
And admitting your own errors is definitely not equally seen in different groups.
bit my tongue to not torpedo our relationship
I’m so glad my wife is basically no contact with her parents, because I never have to play nice with them.
In my case, they are overall nice and caring people with, sometimes, a bit of a blind spot. I was very glad when they came around on the climate change issue, that was the only sore spot between us.
You’re still more patient Than I.
It’s great that they’re rational enough to change their views in the face of evidence, even if it takes more evidence than it usual.
Life is too short to bother maintaining relationships with people like that. They can rot away in lonely isolation, like they deserve.
You know one snippet of my father in law. Is it really sufficient for you to judge the whole man? I sure hope never to be judged so harshly!
dude torpedo the relationship, who gives a fuck. if they want to be ignorant fucks and ruin their relationship with their child, that’s on them
they won’t change if there are no repercussions
You advocate blowing up a parent-child relationship just for not getting the instant gratification of convincing them to change their political views in a single day?
That’s decades of history prior and more in the future hopefully. Some things just take time.
We wil be dead from climate change before they figure it out.
This isn’t some social cause you can be a conservative for. This is high stakes and a deadline.
no, I advocate for not appeasing ignorant assholes, and if the ignorant asshole chooses to react poorly to it, let them
Some people just take a while to absorb new information.
My father would always seem like he was completely stuck in his ways and unyielding if you argued with him for one day. But if you came back the next day, he usually had a much better view and had accepted some of your statements.
I actually enjoyed debating him once I learned this, and learned to drag out the debates over several days. I also understood a lot more by copying his method of learning.Not everything needs to be instant. Give people information, then give them time to think about it.
yes, that’s what I was getting at. doesn’t need to be right that moment, but it certainly doesn’t need to be two years.
I was told the other day by someone younger than me that saying “okay boomer” is cringe now. The new hot hip fan-didly-tastic slang is “unc status” or “aunt status”, apparently. Means the same thing, but in sleek Gen-Z packaging.
Okay zoomer.
I feel like there is always some level of condescension when talking about other generations of slang and I wonder why. There’s a smack of snark to the redundant duplicated repetition of “hot hip fan-didly-tastic” and “sleek Gen-Z packaging”, and “cringe” is obviously derogatory. Can’t we casually accept that “the new slang is” what it is, and set an example for the younger ones in turn?
Couldn’t contemporary colloquialisms coexist comfortably?
I love using the new slang. It makes my kid turn red, which I find hilarious.
Fuck I am too old for my own generation. Mentally and from my speaking I am way more millenial than gen z
You arent alone lmao
Notably, – yet again – it’s also cribbing/misusing black slang/terminology; disappointing…
How so?
The secret ingredient is lead poisoning. The Baby Boomer generation spent over half their lives sniffing leaded gasoline fumes.
Ding ding ding!
The reason it feels like people from that era are angrier and dumber than they used to be is because they literally are! It’s literal brain damage!
They still do. General aviation still uses 100LL aka low lead
Blood concentrations of lead are laughable today compared to when leaded gas was in cars. It’s a decrease of 94%. Yes, we still have a lead problem. No, it is no longer anywhere near as bad as it was.
True, but the safe level of lead is none. This is especially true for children.
The FAA finally approved 100UL (unleaded), so the US is on track to stop using 100LL in most cases within the next 20 years
EPA has tight regulations on washing your plane though, so there’s no problem with lead /s
Disclaimer: It’s better than nothing that the EPA tried to do something, but the government really should have gotten their shit together and approved 100UL decades ago
Shh, don’t say it too loud or Maga will legislate the lead back in.
Oh don’t worry about that, they already caused their havoc
Thanks to the FAA’s shoestring budget, they don’t have the funds to just issue an STC to allow existing planes to use it. Each plane owner will have to pay for one to be issued. It costs me $200 to get one issued. It costs that much because the FAA hasn’t had the budget to upgrade their systems, so handling applications takes a lot of labor. They need to manually verify the make and model of aircraft will not be at risk of adverse effects from unleaded gasoline, since safety > all else
It’s a good thing the FAA verifies this, but it shouldn’t be such an inefficient process. The only reason it’s so inefficient is because conservatives have gutted federal agencies for so many years. MAGA will still point to the inefficient process as an example of why they should keep cutting funding, “see how inefficient the FAA is? They don’t deserve our money!”
Hahaha … heh … but seriously, MAGA does want brain damaged voters.
While lead pipes were banned in 1986, millions of lead service lines remain in service across the US to this day…
Lead pipes are less of an issue that it would seem, as the pipes quickly develop a layer of calcium salts on the inside, preventing the water from actually coming into contact with the lead.
By all means, they need replaced. But they’re nowhere near the contributor that leaded gasoline was. That stuff probably fucked up 6 distinct generations. If you lived in a city, you were inhaling lead constantly.
Get out of here with your fact-based science, it sounds like you did your own research. We don’t like that. Please comply.
Lead gasoline for cars is gone. Lead pipes are still around.
You’re concerned about the big problem that we already solved? Bro, you need to re-prioritize.
It’s definitely based on where you live… Whether you get a USDA backed loan, etc… I financed my house, 15 yrs ago when rates were between 3 and 6 percent. 2200sqft 3br, 2 bath, with half finished basement on a half acre, and deeded lake access point (Lake Norman) they wanted 120K, but I talked them down to 100K. Since it’s out in the country ( about 15 minutes from the city), it qualified for USDA, which means no closing costs, 30 year FIXED RATE. I pay $650 a month for my mortgage…Only downside is that it was built in 1973, but there are so many houses out here like this, just sitting…
I feel like “having it easier” can be relative. I definitely have it easier than my grandmother who is a black woman born in the late 1930s who only has a high school education. I’ve even had an easier life than my parents in many ways, even if they did achieve the “American Dream”. I may not be able to afford a house right now, but everything else has been easier as a whole so far. I’m in the USA, so we’ll see how the rest of it goes.
ETA: spelling
i have respect for my grandparents so i dont call them this but when they bring up stuff i just nod becuase its better to let them ramble than sit there and argue with someone who could have a heart attack.
When I was growing up, my mom loves using the phrase which would roughly translates to “while you are still going forward, I’m turning back”, which is a thought terminating cliché to mean do as she says because she has experience. She doesn’t say it as much as she used to because she regrets having been a strict parent. But if she pulls that line again, I have a comeback ready to tell her “you’ve turned back, but the environment you grew up in changed”.
There’s only two things I hate in this world: people who are intolerant of other people’s generation, and the millennials.
They have it backwards. Young people think old people had it easy. This is their justification for not trying. Truth is every generation has it’s challenges. Rather than turn to social media for validation, look for information. There’s no one-size-fits-all solution for everyone but if you’re facing a challenge, someone before you faced the same. Don’t listen to those who tell you not to try. Listen to folks who succeeded, what worked, what didn’t.
PS The only derogatory I can say about the young generation as a whole is, where the fuck is your rock and roll? You’re listening to your grandparent’s music. Lame.
I’m 45, so not a boomer but already too old to get any respect from people in their 30’s (90% of my colleagues for example). Simply speaking about something they didn’t experience (reading a map, installing an OS, meeting the love of your life without a dating app…) gets me a “Ok Boomer” each time so what do I do? I just shut the fuck up. I’m not worried, they’ll be in my position very quickly.
Send them this. I’m sure they will get it.
I mean, I’m going to invite everyone of every age to strip bottomless, take any “back in my day we didn’t have your fancy [whatever]” bitching an moaning you have to do, dip it in honey, roll it in sand, and cram it up your exposed ass.
I’m 38. In my mid-20s, I taught flight school, mainly to people twice my age, and this included a fairly large section on reading Sectional Aeronautical Charts. I’ve got zero fucks to give for someone 7 years my senior pulling “back in my day we had maps” shit.
Yes, but it has nothing to do with generations, or age. I prefer “MAGA” to boomer, because I think that’s the group most people have a problem with. MAGA does not correlate well with age. MAGA comes in all ages, and even cuts across class. With the rich class supporting it because it’s to their advantage, and the bigots of the poor class supporting it because they are bigots and ignorant.
MAGA is a group of people in the US. This phenomenon however is worldwide, and nobody in other countries is going to use a US reference for it.
Boomers are a US generation though. Where I live, boomers would’ve been born in the early 90s. Thats when we had the baby boom.
MAGAs and boomers are different groups (that’s why the words are spelt differently)
