1st Gen Lunchtable Thread - General Discussion

Definitely one of those "you should've bought a house earlier" kind of times.

But tons of people have done so without any parental support.

Think it's more about timing really - some people weren't at that point in their life where they were financially stable enough to buy a home.

Some were in college, or just a year or two into their career job.

Now? Prices and interests are way up.

 

Tbf a lot of house are sitting for months and even years now, especially in glamor markets like Florida.

 

I still see those "I'll buy your home cash, any condition" ads even in my Youtube videos.

 

yeah I hear ads on the radio for them all the time ‘WedgeWood Homes will give you a competitive cash offer on your home today, avoid the headache of dealing with realtors and negotiating. Call now!’

 

Best thing to do is just save, save, and save unfortunately.

Invest that money maybe?

 

Need to get the GX windows tinted

 

https://youtu.be/vqpzPAoFJrE?si=hOQJsFG84Ojx-4XF

 

I want to see a complete ban and forced sale on all corporate single family home ownership. No ownership without permanent resident status (and the owner has to live there full time, ie no buying a home for your kid on a student visa, or even yourself on a temporary work visa), and property taxes that increase exponentially with every additional home owned.

Things that'll never happen for $500 please

 

I'd expect a significantly lower-than-market value offer as well

But, probably willing to purchase without issue such as your former landlord's property with the unlicensed work that was done (the dwelling in the backyard?)

I mean people trade in their vehicle's all the time even though they leave tons of money on the table vs selling privately, so I'm not really surprised that those ads continue

 

Timing is huge, and something it's easy to overlook your benefits from. Parental support can also be subtle, with benefits far more significant than you might expect from the outlay.

My parents bought me a car as I was graduating college. It wasn't a fancy car, but it was nice enough that I wouldn't need to worry about it being reliable. It cost about $14k, they were able to pay for it without a loan. That car is still reliable 15 years later. I paid off my student loans quickly (parents also helped with tuition but I still had around $60k in loans I think) and I was debt-free for several years until I decided to by a condo in 2018. My parents never handed me any giant pile of money, and they still taught me to be frugal, but they made sure I didn't have to worry about money until I had a steady income. They made it easy for me to save money when I was young, with the knowledge that old money is worth more than new money, and that $14k early in my life would turn into a lot more value for me later in life. For them, it was a great investment vs, say, helping make a down payment on a house later.

I also had exceptionally good timing--I missed the collapse of '08, came into the job market in '10 when tech jobs were plentiful, bought my first home at 4.5% interest, and my current at 2.9%. That's nothing I did, it was just good luck, but it can't be undervalued.

 

My buddy James' family did that for him when he was in college, they sold the house after they all graduated and made like 75k all said and done on the place

 

A lot of the issue comes from overly restrictive zoning regulations too

 

Timing is the biggest factor, along with upbringing.

You can come from a family that has always supported you and still end up strung out and nearly homeless from not being financially responsible.

I've personally seen it happen to people I know.

 

I forgot is you said where you went to school - was it WSU?

 

My parents didn’t have extra house money, but I got a lot of help with rent and other expenses in college so I had the luxury of focusing on school, especially when I was studying abroad. I did also have a work study job at the gym but it wasn’t much.

 

Also I feel bad for new grads this year - the job market is just about as bad as ‘08-‘10 unless you wanna work in healthcare.

 

Eastern Washington University... I've lived in the same neighborhood that that house was in twice now haha. TBF it was a nice house in a quiet neighborhood on a golf course, not the usual college town shitpile.


https://maps.app.goo.gl/vRdyunyxfgMwimePA

 

Hell yeah, that sounds is awesome too but that wasn't 2.5 weeks haha

 

Oh that’s a bit of a commute to class

 

10mins at most, there's no traffic ever though, and it is all nice backroads. I've had more than one vehicle since 2015