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Topic: In other news ...

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FearlessF

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Re: In other news ...
« Reply #31906 on: May 20, 2024, 10:00:03 AM »
Sure, but how much down payment do you need?  How much credit rating do you need?

They have the income to buy a house, but don't, often because they have a lot of debt, and no down payment.
this is the "work" that needs to be done
save for a down payment instead of eating out and paying for entertainment and such
pay off your credit cards and other debt - improving your rating 

do this "work" and strive towards the american dream
or just be lazy and bitch about your situation - wait for the democrats to steal from the billionaires and hand it to you
"Courage; Generosity; Fairness; Honor; In these are the true awards of manly sport."

Cincydawg

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Re: In other news ...
« Reply #31907 on: May 20, 2024, 10:01:29 AM »
My guess is they get to like renting, it's "comfortable".  And the amenities are often awesome.

FearlessF

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Re: In other news ...
« Reply #31908 on: May 20, 2024, 10:05:43 AM »
it's easier

and not the landlord's fault
"Courage; Generosity; Fairness; Honor; In these are the true awards of manly sport."

847badgerfan

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Re: In other news ...
« Reply #31909 on: May 20, 2024, 10:08:19 AM »
this is the "work" that needs to be done
save for a down payment instead of eating out and paying for entertainment and such
pay off your credit cards and other debt - improving your rating

do this "work" and strive towards the american dream
or just be lazy and bitch about your situation - wait for the democrats to steal from the billionaires and hand it to you
I wish they did that, but they don't. They take it from me and you.
U RAH RAH! WIS CON SIN!

Cincydawg

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Re: In other news ...
« Reply #31910 on: May 20, 2024, 10:20:54 AM »
Is there a pullback in consumer spending? Here's what CEOs say (cnbc.com)
Is there a pullback in consumer spending? Here's what CEOs say (cnbc.com)

847badgerfan

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Re: In other news ...
« Reply #31911 on: May 20, 2024, 10:33:10 AM »
Buy a coffee pot. Skip Starbuck's.
U RAH RAH! WIS CON SIN!

bayareabadger

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Re: In other news ...
« Reply #31912 on: May 20, 2024, 10:40:08 AM »
this is the "work" that needs to be done
save for a down payment instead of eating out and paying for entertainment and such
pay off your credit cards and other debt - improving your rating

do this "work" and strive towards the american dream
or just be lazy and bitch about your situation - wait for the democrats to steal from the billionaires and hand it to you
Just takes more “work” than it once did. And not a small amount more.

So more people rent in younger generations, fewer buy and benefit from that wealth building tool and that is what it is.

847badgerfan

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Re: In other news ...
« Reply #31913 on: May 20, 2024, 10:54:07 AM »
Just takes more “work” than it once did. And not a small amount more.

So more people rent in younger generations, fewer buy and benefit from that wealth building tool and that is what it is.
Saved enough for a DP and bought a house at age 21. I was very hard work. No vacations, no buying anything that was not completely necessary.

There were less things to blow money on back then, for sure. No Starbucks.
U RAH RAH! WIS CON SIN!

FearlessF

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Re: In other news ...
« Reply #31914 on: May 20, 2024, 11:05:49 AM »
Just takes more “work” than it once did. And not a small amount more.

So more people rent in younger generations, fewer buy and benefit from that wealth building tool and that is what it is.
same as the generations before me

I told my daughters to roll up their sleeves and go to work
the alternative doesn't seem to be the way to success
"Courage; Generosity; Fairness; Honor; In these are the true awards of manly sport."

utee94

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Re: In other news ...
« Reply #31915 on: May 20, 2024, 11:08:34 AM »
Buy a coffee pot. Skip Starbuck's.
Younger folks like my millennial nephews and my Gen Z kids and their friends, also spend crazy amounts of money on food delivery like Uber Eats.  Even when the place they're ordering from is relatively close and would be an easy drive, they can't be bothered.

bayareabadger

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Re: In other news ...
« Reply #31916 on: May 20, 2024, 11:09:02 AM »
Saved enough for a DP and bought a house at age 21. I was very hard work. No vacations, no buying anything that was not completely necessary.

There were less things to blow money on back then, for sure. No Starbucks.
Just imagine if that house cost 76%more in real dollars like it does now. Man that would be some work. 

FearlessF

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Re: In other news ...
« Reply #31917 on: May 20, 2024, 11:10:26 AM »
I don't feel sorry for them when they tell me it's tougher than back in my day
"Courage; Generosity; Fairness; Honor; In these are the true awards of manly sport."

utee94

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Re: In other news ...
« Reply #31918 on: May 20, 2024, 11:12:36 AM »

Saved enough for a DP and bought a house at age 21.
I was very hard work. No vacations, no buying anything that was not completely necessary.

There were less things to blow money on back then, for sure. No Starbucks.

My friend Bald Greg (ran the tailgate party with me) did this, bought his 1st house at age 23.  I didn't, I was busy spending money on boats and girls and travel, so I rented that entire time, and I didn't buy my first house until I was 29.  That delta has resulted in Greg being about $500,000 ahead of me in assets.  I'm doing fine, but I don't think I had $500,000 worth of fun in the meantime...

FearlessF

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Re: In other news ...
« Reply #31919 on: May 20, 2024, 11:14:16 AM »
Just imagine if that house cost 76%more in real dollars like it does now. Man that would be some work.
I could have bought a similar house in the town I grew up in for $76K instead of the $44K house in the town 7 miles away
I chose to go with the cheaper house
I could have paid off the $76K house in a few more years.

financial well being is about choices

money coming in and money going out

it's very simple math
"Courage; Generosity; Fairness; Honor; In these are the true awards of manly sport."

 

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