BoomerD
No Lifer
- Feb 26, 2006
- 66,107
- 14,514
- 146
But I demand the right to buy a nice house on my Starbucks barista pay...
But I demand the right to buy a nice house on my Starbucks barista pay...
IronWing
No Lifer
- Jul 20, 2001
- 72,514
- 33,164
- 136
Ok, Boomer.
Home Price to Income Ratio - Updated Chart | Longtermtrends
Historically, an average house in the US cost around 5 times the yearly household income. The ratio in this chart divides the Case-Shiller Home Price Index by the US median annual household income.
KMFJD
Lifer
- Aug 11, 2005
- 32,210
- 51,016
- 136
hal2kilo
Lifer
- Feb 24, 2009
- 25,830
- 12,131
- 136
May be it's time for a https://en.wikipedia.org/wiki/Jubilee_(biblical)
BoomerD
No Lifer
- Feb 26, 2006
- 66,107
- 14,514
- 146
Ok, Boomer.
Home Price to Income Ratio - Updated Chart | Longtermtrends
Historically, an average house in the US cost around 5 times the yearly household income. The ratio in this chart divides the Case-Shiller Home Price Index by the US median annual household income.www.longtermtrends.net
yeah...so? Doesn't change my point. Too many millennials (and the generations that followed) seem to think that going DEEPLY into student debt for a degree that has no "real world" value...and only qualies them for a minimum wage job, expect to survive at a higher level.
Wanna buy a house? Get a REAL fucking job.
hal2kilo
Lifer
- Feb 24, 2009
- 25,830
- 12,131
- 136
So they aren't victims of the educational system that tells them that that's what they have to do to get ahead?
BoomerD
No Lifer
- Feb 26, 2006
- 66,107
- 14,514
- 146
So, the educational system told them to get a degree that has no earning potential?
hal2kilo
Lifer
- Feb 24, 2009
- 25,830
- 12,131
- 136
Value can be in the eye of the beholder. Not everyone can or should be an engineer, even though that's how I made my living. I suppose a hedge fund manager has more value than an art teacher huh?
BoomerD
No Lifer
- Feb 26, 2006
- 66,107
- 14,514
- 146
Depends...which one has the better hiring potential? I don't think most hedge fund managers start as managers right out of college, do they? Isn't that a "work your way up the ladder" kind of job?
shortylickens
No Lifer
- Jul 15, 2003
- 80,287
- 17,081
- 136
Yes, it did.
As did their parents.
and their teachers.
and guidance counsilors.
All of whom are fucking boomers.
A generation of ignorant stupid spoiled lazy american assholes has bred a generation of lost kids who are now lost adults.
also they broke the government on top of it.
IronWing
No Lifer
- Jul 20, 2001
- 72,514
- 33,164
- 136
What does your point have to do with the hope for a housing crash? Boomers got houses on the relative cheap and now feel entitled to sell them high. Tough taters. A housing bust would be good for returning housing prices back to a reasonable level even if that means boomers don't get the prices they've decided the world owes them.
KMFJD
Lifer
- Aug 11, 2005
- 32,210
- 51,016
- 136
trenchfoot
Lifer
- Aug 5, 2000
- 15,704
- 8,257
- 136
BoomerD
No Lifer
- Feb 26, 2006
- 66,107
- 14,514
- 146
Reasonable value? Who determines what "reasonable" means? Hell, I bought my first brand new pick-up in 1976 for around $7500. Similar truck today...$50,000 or more. Sure, technology has changed...some things have changed, some has gotten worse...more poorly/cheaply built, but still...no one works for the same wages/salaries as back then either...if you're gonna roll housing prices back, how about returning the mini um wage back to thr <$5.00/hr rate as well?
IronWing
No Lifer
- Jul 20, 2001
- 72,514
- 33,164
- 136
Read the graph. Boomers bought their first houses at roughly 3 to 3.5 x median household income range. Millennials have faced house prices in the 3.5 to 5 x median household income range. That is an enormous difference so when Boomers pull out the "they need to get real jobs" bullshit when all the Boomers are really doing is trying to defend their place of privilege as some type of natural order, well go f' yourself. A housing price crash would be great for the economy at large.
<= owns own house
KMFJD
Lifer
- Aug 11, 2005
- 32,210
- 51,016
- 136
Nah. Hedge-fund-manager is a "be born into the wealthy well-connected classes" kind of job.
shortylickens
No Lifer
- Jul 15, 2003
- 80,287
- 17,081
- 136
Yeah theres been a number of books and documentaries covering this subject already.
"Building yourself up from nothing" is not a reasonable prospect in 21st century America, despite all the anecdotes people love to share about such stories.
Its actually quite difficult to move up a class these days.
KMFJD
Lifer
- Aug 11, 2005
- 32,210
- 51,016
- 136
hal2kilo
Lifer
- Feb 24, 2009
- 25,830
- 12,131
- 136
Well one of these gentlemen have something to say regarding this human habit.
or this guy
www.linkedin.com
or this guy
Destined To Repeat The Mistakes Of The Past
"Those who do not learn history are doomed to repeat it". The quote is most likely due to George Santayana - Spanish contemporary philosopher, essayist, poet, and novelist - and in its original form it reads, "Those who cannot remember the past are condemned to repeat it".
shortylickens
No Lifer
- Jul 15, 2003
- 80,287
- 17,081
- 136
shortylickens
No Lifer
- Jul 15, 2003
- 80,287
- 17,081
- 136
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