Still think TITNC3: Return of the Iceberg was peak

Should have let the virus do its thing instead of how we handled it

 

plot twist

we're the robots

 

a 10x12 storage unit in jackson is about 150$ a month give or take, if i spend 2500 on the shed im building, it will theoretically pay for itself in a year and a half. seems like a better investment than the stock market right now lol.

 

must be nice
I do the: wake up - scream into my pillow - then get out of bed in the morning lol

 

Everybody in here talking bout impossible homeownership while ownership rates are in the same 5% band they've always been since forever:

https://fred.stlouisfed.org/series/RHORUSQ156N#

Real issue is young people with wildly unrealistic expectations for first home features and society suddenly realizing the bottom 40% of the socio-economic strata has a shit life from start to finish.

 

First off, I don't see in your chart whether that's individual home ownership or familial/partnered home ownership. I'm going to assume it's one person, one mortgage because that makes the most sense. Average number of people per household is 2.6. That includes apartments though, and I'd assume that SFH have more kids, so lets round up to 3. That leads to a big chunk of the "40%" not being homeowners but still housed in homes owned by others in their immediate family. I'm not statistically competent enough to draw any formal conclusions off of that, but the logic makes sense. We'd probably need to do a logarithmic thingy on the housing chart cause there's some outliers there, especially in the last decade and a half.

We're collectively more educated, and apparently home ownership rates are relatively the same...

Ergo, housing prices have outpaced wages (if you make the silly assumption that higher education should lead to increased earning potential)

In 1960, 60% of individuals owned homes with only 8% of them being college grads. The trend for increased education leading to increased opportunity to own a home is not lining up.

Edit: I can't find any data sets on age of first time home buyer over time.

Edit again: This is as close as I could find. Relatively stable since at least 1981

 

What a great treatise on why college isn't worth what they charge.

Watch from 1830 to 1930:
https://youtu.be/6q3zy4NRzz4


Short version:
Our economy now values intelligence more than any other attribute. And since you're born into your IQ, you get what you get excluding extroardinary luck (Lottery win, marrying a Kennedy, ground floor Amazon shares on a whim, etc.)

 

I'll take a look in a minute, but you don't have to dig any farther than into the student loan numbers to realize college is a money extraction scam.

 

Yah, that all tracks. Surprise, if you're born more intelligent you're more likely to be successful.

That doesn't mean 40% of Americans deserve to be born into and live a shit life when we have by far, more than enough money to ensure that everyone has a reasonable standard of living. It's the "fuck you, I got mine" rhetoric that I can't stand.

 

wasnt strong enough to do anything anyway. "mutated" way too fast for it to do meaningful damage to population

 

we're just the meat machines they need until they figure out how to get computer to reproduce

 

'Deserve' was never in the conversation.

You want equality under the law or equal outcomes?

You can't have both.

 

yea but people used to be able to pay off their homes withint 10 years on a single income. thats how my grand parents did it. and thehy lived in pretty normal sized houses....15-1600 sq.ft.

 

I want someone who has a high school degree to be able to get a job, raise a family, own a home (or reasonably priced apartment), own a vehicle, and be able to save for retirement.

There's more than enough money in our GDP to ensure that reasonable standard of living for every person. You wanna achieve more because you're smarter? Then by all means, go and do so! Hell, even the "dummies" can probably work their way up the ladder if they've got reasonable access to career growth.

My mom's dad worked as a foreman in a steel mill in Pittsburgh. Barely made it through high school. Had a modest house near the city, property, two cars, and sent two girls through nursing school.

My great grandfather owned a single pump gas station and a one bay auto garage. Raised 4 kids, put 3 through college, and had a house on property. Never finished high school. Bailed out in the 6th grade.

 

idk man i havent tasted too many that make me want more. never tried the kona though. i dont even own a coffee pot lol

 

That's what he's missing. And statistically he's correct, but in reality he's not. The statistics are overwhelmingly skewed by the white male middle class who has traditionally been very successful

 

what sucks is what it actually takes to be "successful" now days.
we also have to remember that it was common for people to go straight from highschool to work force. so by the time they were 20 they had a good chunk of change to start a family. people had their shit together and had families of 4+ (2 kids, 2 parents) by the age of 25....how many people you know now days that had their shit together by 25 with a family, home, and good job?

my grandfather was a cane cutter from age 10 to....actually dont know how long he did that for, but then he became a welder. never even went to highschool.

now days people go into college and get in huge amounts of debt that set them back from starting a family. its crazy how drastic life now vs then is.

 

Mortgage terms in the 1950s were typically 20-25 years:

https://www.seattletimes.com/business/mortgage-rates-now-below-even-lows-of-early-1950s/

Typical home size in the 1950s was under 1000 sqft:

https://www.npr.org/templates/story/story.php?storyId=5525283

Congrats, you were born to outliers! This is good news for you!

 

Yup. If you look at the opportunity cost of going to college, you statistically will come out much further ahead than a comparable high school grad who just enters the workforce. In reality it's a crapshoot with student loans and degrees being handed out like candy.

My peer group (white, college aged males) all bought homes in their early mid-30s and started families in their late 20's, early 30's

I borrowed $20k off my dad to buy a house at 21 and refuse to get married or have kids, so I'm an outlier on all fronts.