usa: 50% of 25 year olds living at home w/ parents, 30% of 30 year olds are living at home w parents

rickyb

Well-Known Member
Vegas still has some good housing deals. But the other two houses I have are the worth more than they ever have been. I've also lived in 3 other places, those houses also are very expensive. My first house that I bought in 1992 for $105K is for sale today @ $289K. I've seen housing prices skyrocketing these last 4 years. Last summer I was looking for a place with a dock, but between 2012 and 2015 prices went up about 50-60%. I found myself priced out of the market.

Ricky, Wells Fargo just introduced a 3% down loan, last week. I think it's a conventional loan. But we also have FHA loans, HUD loans, etc. there a ton of low down loans. What is historically low is mortgage rates.

Who says $15 an hour is a living wage? I could not live on that. I think that is brainwashing people. I could only live on $15 if I was receiving my pension too. The US average hourly income is about $25.50.
yea some of the guys who predicited the first housing bubble are saying theres another one going on. its sad.

I never heard of that record high rent prices before. i mean seriously, you gotta be kidding me, i wonder why?

i dont look at average hourly income because it inflates the numbers. so if theres a group of 10 people, 9 of them dirt poor, and 1 of them a billionaire, that billionaire inflates the number but its not really representative of the situation. median income is a much better indictator which is roughly $17/hr.
 

rickyb

Well-Known Member
That is the problem, when I was looking for work, I got the first job I could. Then I kept looking, then I got a better one, and so on. I built on my experience each time. The mindset of just sitting back until something interests you is holding you back.

My youngest boy went out on Monday looking for a job. He was working on fishing boat. He filled out 3 applications. One called him back Tuesday and he worked 14 hours that day. Worked 52 hours that week. It wasn't his first choice, but he's making $15 an hour plus o.t. He thinks that after a couple weeks he will get a raise based on his experience. Meanwhile he will be looking for something better. I grew up hearing "life is only as hard as you make it".
i got one job which i do 8 hours a week now, and my fuel truck job where i do 40+ hours a week.

i think i heard america has the worst social mobility of any developed country now too. whats happening is bigger than young people not taking the first job they see. theres an epidemic of middle age whites committing suicide right now, which is unprecedented, and they are a different generation than the young folks.

1 of the criticisms i heard of young people is they dont show up for civic activism and they are too plugged into VR. my criticism is young people are way too positive and i think it just leads to conformity.

i dont think life is as hard as you make it; life is a combination of things that are in your control, and things that are beyond your control.
 
yea some of the guys who predicited the first housing bubble are saying theres another one going on. its sad.

I never heard of that record high rent prices before. i mean seriously, you gotta be kidding me, i wonder why?

i dont look at average hourly income because it inflates the numbers. so if theres a group of 10 people, 9 of them dirt poor, and 1 of them a billionaire, that billionaire inflates the number but its not really representative of the situation. median income is a much better indictator which is roughly $17/hr.
And that number would be a lot less if you knocked out the too earners.
Too many working poor
 

newfie

Well-Known Member
yea some of the guys who predicited the first housing bubble are saying theres another one going on. its sad.

I never heard of that record high rent prices before. i mean seriously, you gotta be kidding me, i wonder why?

.

Obama holding the mortgage companies accountable by making it harder to get a mortgage. So now renters are having a hard time buying a house and more are renting creating more demand and higher prices.

you really should study and understand the system you badmouth so much.
 

rickyb

Well-Known Member
Obama holding the mortgage companies accountable by making it harder to get a mortgage. So now renters are having a hard time buying a house and more are renting creating more demand and higher prices.

you really should study and understand the system you badmouth so much.
no banker has gone to jail. there was a massive fraud. on top of that the debts werent written off and many homes are underwater. and hte banks got bailed out instead of failing, and creating new banks.

and no i dont really understand too much about the mortgage system in america but i know where to look.

obama works for the 1% not hte 99%. thats all you gotta know.
 
Obama holding the mortgage companies accountable by making it harder to get a mortgage. So now renters are having a hard time buying a house and more are renting creating more demand and higher prices.

you really should study and understand the system you badmouth so much.
We need a balance ,so we don't have another bubble
 

newfie

Well-Known Member
We need a balance ,so we don't have another bubble

they have to raise interest rates. Real estate market is overheating because the interest rates are so low.

problem is the rest of the economy is still moving at a snails pace and raising the interest rates would stifle it.

welcome to Obama land.
 

rickyb

Well-Known Member
this is his newest article by coincidence.

"Rent strips you of half your income—one in four families spend 70 percent of their income on rent...fuel and utility rates have risen by more than 50 percent since 2000..One in eight renting families in the United States was unable to meet rent payments in 2013...

We get the New Deal. A few decades later we get neoliberalism. Up and down we go on the capitalist seesaw. It is a long and honored tactic of the capitalist class—concessions in times of unrest and then reversals—one amply illustrated by the labor history of the United States and illuminated by revolutionary theorists such as Rosa Luxemburg.

many housing courts around the country 90 percent of landlords are represented by attorneys, and 90 percent of tenants are not...And as long as the debt goes unpaid, the slumlord can slap on a 12 percent interest rate.

The string of evictions and length of the waiting list—3,500 names—means Belle and her boys will never receive housing assistance. Three-quarters of families that qualify for housing assistance nationally never obtain it." - chris hedges
 
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olroadbeech

Happy Verified UPSer
That is the problem, when I was looking for work, I got the first job I could. Then I kept looking, then I got a better one, and so on. I built on my experience each time. The mindset of just sitting back until something interests you is holding you back.

My youngest boy went out on Monday looking for a job. He was working on fishing boat. He filled out 3 applications. One called him back Tuesday and he worked 14 hours that day. Worked 52 hours that week. It wasn't his first choice, but he's making $15 an hour plus o.t. He thinks that after a couple weeks he will get a raise based on his experience. Meanwhile he will be looking for something better. I grew up hearing "life is only as hard as you make it".
it seems like it is always easier to find a job when you have a job. not sure why. maybe because you have more of an air of confidence. the best jobs i ever had did not pay much but they were fun but with family and responsibilities you sometimes don't have a choice.

until i worked for UPS my general rule of thumb was to be always looking for something better and to change jobs if the pay raise was at least 25-33% or better. i would have even quit UPS if I were offered a 200k job . ( wages/salary/bennies ) .
 

olroadbeech

Happy Verified UPSer
they have to raise interest rates. Real estate market is overheating because the interest rates are so low.

problem is the rest of the economy is still moving at a snails pace and raising the interest rates would stifle it.

welcome to Obama land.
in our neighborhood we had 2 houses for sale. one went in 3 days and the other went in 4 days. they both sold for around 35k over the zillow zestimate and both sold for more than they were listed for. why? people were bidding up the price because of the housing shortage. it's insane. yes, we are heading for anothe bubble and i see it coming in the next 12-18 months. Wells Fargo is offering 3% mortgages which is below market price. that's a red flag right there.
 

Babagounj

Strength through joy
Spoiled College Grad Demands New Dress Code at Job, Gets the Boot

College kids have a pretty easy time getting their way on campus. Just make enough of a stink and the universities cave.

Unfortunately, these students eventually reach a little place called the real world, where things aren't so forgiving. One recently wrote in to an advice columnist because the antics he'd gotten away with elsewhere suddenly didn't work.

You see, Junior was at his internship, and he wanted the company to have a more lax dress code. Plus, they noticed one of the regular staff wearing shoes that weren't in line with the standard dress code, and that just wasn't right. So, this individual got together with his fellow interns and wrote up a proposal for an alternate dress code (hmm ... ) accompanied with a petition (whoops!) and sent it on.

The next day, all of us who signed the petition were called into a meeting where we thought our proposal would be discussed. Instead, we were informed that due to our “unprofessional” behavior, we were being let go from our internships. We were told to hand in our ID badges and to gather our things and leave the property ASAP.

We were shocked. The proposal was written professionally like examples I have learned about in school, and our arguments were thought out and well-reasoned. We weren’t even given a chance to discuss it. The worst part is that just before the meeting ended, one of the managers told us that the worker who was allowed to disobey the dress code was a former soldier who lost her leg and was therefore given permission to wear whatever kind of shoes she could walk in. You can’t even tell, and if we had known about this we would have factored it into our argument.

The reality is that colleges -- the educational institutions that are theoretically supposed to prepare these kids for the real world -- did these students a disservice by treating every petition or pet cause as valid, allowing the inmates to run the asylum. When the students hit the real world, WHAM!
 

UpstateNYUPSer(Ret)

Well-Known Member
Spoiled College Grad Demands New Dress Code at Job, Gets the Boot

College kids have a pretty easy time getting their way on campus. Just make enough of a stink and the universities cave.

Unfortunately, these students eventually reach a little place called the real world, where things aren't so forgiving. One recently wrote in to an advice columnist because the antics he'd gotten away with elsewhere suddenly didn't work.

You see, Junior was at his internship, and he wanted the company to have a more lax dress code. Plus, they noticed one of the regular staff wearing shoes that weren't in line with the standard dress code, and that just wasn't right. So, this individual got together with his fellow interns and wrote up a proposal for an alternate dress code (hmm ... ) accompanied with a petition (whoops!) and sent it on.

The next day, all of us who signed the petition were called into a meeting where we thought our proposal would be discussed. Instead, we were informed that due to our “unprofessional” behavior, we were being let go from our internships. We were told to hand in our ID badges and to gather our things and leave the property ASAP.

We were shocked. The proposal was written professionally like examples I have learned about in school, and our arguments were thought out and well-reasoned. We weren’t even given a chance to discuss it. The worst part is that just before the meeting ended, one of the managers told us that the worker who was allowed to disobey the dress code was a former soldier who lost her leg and was therefore given permission to wear whatever kind of shoes she could walk in. You can’t even tell, and if we had known about this we would have factored it into our argument.

The reality is that colleges -- the educational institutions that are theoretically supposed to prepare these kids for the real world -- did these students a disservice by treating every petition or pet cause as valid, allowing the inmates to run the asylum. When the students hit the real world, WHAM!

My son is in the middle of a 3 year Graduate Development Program. He told me that there was a fellow GDP who made some "suggestions" for ways to improve the program. He was subsequently excused from the program.
 

rickyb

Well-Known Member
william k black would be another guy i would go to if you want to know who was responsible for the financial crisis.

and lets not forget, this was just a major crisis. the country has been decaying slowly for 40 years now
 
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