Oh ok. Sorry to hear that on your ventures. I hope it gets better.
I personally don't mind the bubbles and crashes. I did well doing the crashes because that's the time to buy...
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Millennials are Selfish and Entitled...
- Thread starter Sunstone
- Start date
Oh ok. Sorry to hear that on your ventures. I hope it gets better.
I personally don't mind the bubbles and crashes. I did well doing the crashes because that's the time to buy...
Which is obviously doing wonders since they're still impoverished.
H1B Visas = no go.
Really, I wouldn't trust anything even vaguely STEM related for an income unless you are doing some sort of PhD/Research program angle. You're going to get screwed.
Yea, whelping yourself a tribe of illegitimate rug-rats is a positive career move for young women these days. Not so much for the daddies.. lol
As far as homes, it was more about having the choice. Young people don't even have the option in most cases.
Oh, but we do own it.....at their pleasure.
It's good you did well, but as a matter of public policy they're best avoided.
Some do well with a little extra money,
while others have problems that money cannot cure.
Recent grads I know did just fine with only a BS.Really, I wouldn't trust anything even vaguely STEM related for an income unless you are doing some sort of PhD/Research program angle. You're going to get screwed.
I was thinking of a former tenant who really cleaned up (financially) by working full time as a nurse, while collecting a lot of money for being a single mom.
If one is willing to live in sketchy areas, homes are cheap.
I wonder if anyone has studied the change in home cost v wages (after tax)?
There are some lucky people, but trends are trends. There are less jobs, and there are plenty of experienced STEM people already in the jobs they're not giving way to foreign nationals.
I have, wages are flat for about the last 15-20 years (depending on who you ask), and they are barely tracking with inflation. Yes, anyone can get a dump in a bullet-ridden ghetto, but I'm not sure that qualifies as a safe family home.
"Personal income increased $37.1 billion, or 0.2 percent, and disposable personal income (DPI) increased $33.9 billion, or 0.2 percent, in May, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $53.5 billion, or 0.4 percent. In April, personal income increased $75.4 billion, or 0.5 percent, DPI increased $68.6 billion, or 0.5 percent, and PCE increased $141.2 billion, or 1.1 percent, based on revised estimates. Real DPI increased 0.1 percent in May, compared with an increase of 0.2 percent in April. Real PCE increased 0.3 percent, compared with an increase of 0.8 percent. " - from BEA.GOV
That's nearly nothing.
Home costs are about flat since 2008, so would figure it wouldn't matter -- but it does because Dodd-Frank made it much harder to get loan approvals. It's probably not good to invest in real estate at the moment unless you can get it for a literal song (read: tax sales/foreclosure auctions). There isn't much appreciation going on so you have to make your real estate money on flipping or rent.
There is also probably good money in selling rehab services to people doing the flipping, etc.
When you say home costs arr about flat, do you mean prices?There are some lucky people, but trends are trends. There are less jobs, and there are plenty of experienced STEM people already in the jobs they're not giving way to foreign nationals.
I have, wages are flat for about the last 15-20 years (depending on who you ask), and they are barely tracking with inflation. Yes, anyone can get a dump in a bullet-ridden ghetto, but I'm not sure that qualifies as a safe family home.
"Personal income increased $37.1 billion, or 0.2 percent, and disposable personal income (DPI) increased $33.9 billion, or 0.2 percent, in May, according to the Bureau of Economic Analysis. Personal consumption expenditures (PCE) increased $53.5 billion, or 0.4 percent. In April, personal income increased $75.4 billion, or 0.5 percent, DPI increased $68.6 billion, or 0.5 percent, and PCE increased $141.2 billion, or 1.1 percent, based on revised estimates. Real DPI increased 0.1 percent in May, compared with an increase of 0.2 percent in April. Real PCE increased 0.3 percent, compared with an increase of 0.8 percent. " - from BEA.GOV
That's nearly nothing.
Home costs are about flat since 2008, so would figure it wouldn't matter -- but it does because Dodd-Frank made it much harder to get loan approvals. It's probably not good to invest in real estate at the moment unless you can get it for a literal song (read: tax sales/foreclosure auctions). There isn't much appreciation going on so you have to make your real estate money on flipping or rent.
There is also probably good money in selling rehab services to people doing the flipping, etc.
Because I'm seeing property taxes rise relative to price, & other costs are increasing too.
Due to high transfer & carry costs, I don't see anyone here flipping to make money.
Although I know some who did it to lose (inadvertently) money.
Yea, not talking about taxes or anything. Those are going up no matter what.
You can still flip, but you gotta get 'em on the steal or it isn't worth it.
Around me it costs you about 6% of the sale price to sell, so it's pretty easy to cut off your own nose. What we do in my hood is get them for <20K or walk, because usually we need to redo 10-15k worth of stuff on the house before sale. So, say, 15k (house) 15k to fix it up and about 6k to sell not including the utilities and whatnot you are paying while it is on the market. You can get about 50k out of it most of the time as long as you sell on the cheap side of the market.
The people who lose are the people who buy homes at full retail and try to rehab. It doesn't work that way, most of your profit is on the purchase.
Tis good that your area affords you this opportunity.Yea, not talking about taxes or anything. Those are going up no matter what.
You can still flip, but you gotta get 'em on the steal or it isn't worth it.
Around me it costs you about 6% of the sale price to sell, so it's pretty easy to cut off your own nose. What we do in my hood is get them for <20K or walk, because usually we need to redo 10-15k worth of stuff on the house before sale. So, say, 15k (house) 15k to fix it up and about 6k to sell not including the utilities and whatnot you are paying while it is on the market. You can get about 50k out of it most of the time as long as you sell on the cheap side of the market.
The people who lose are the people who buy homes at full retail and try to rehab. It doesn't work that way, most of your profit is on the purchase.
Twilight Hue
Twilight, not bright nor dark, good nor bad.
I think it's more a right of passage. *grin*
Tomorrows_Child
Active Member
Can we get a British version of this with Reagan replaced by Thatcher and Blair, who probably did more damage to the British social system than Reagan could ever have dreamed of?
Only as selfish and as entitled as the company they keep.
Shadow Wolf
Certified People sTabber & Business Owner
It seems every generation gets bashed. Today the Millennials are selfish and entitled, yesterday it was my generation being lazy and rotting our brains with MTV, and the Baby Boomers had their "Satanic" Rock 'n Roll and were always stoned off their asses.
I think the Millennials aren't being selfish or entitled, but having grown up in a post-Cold War society they aren't hounded with the evils of Socialism like Boomers through Xers were, and they got to enter adulthood (conventionally defined as graduating from high school) with poor economic conditions that began to slump while Gen X was still entering the work force, and Millennials did get to enter the work force when more work for less pay and benefits really began to take hold. There is nothing selfish or entitled about expecting the decent jobs with decent pay they were promised, or expecting the promise of being anything you want to be honored.
I think the Millennials aren't being selfish or entitled, but having grown up in a post-Cold War society they aren't hounded with the evils of Socialism like Boomers through Xers were, and they got to enter adulthood (conventionally defined as graduating from high school) with poor economic conditions that began to slump while Gen X was still entering the work force, and Millennials did get to enter the work force when more work for less pay and benefits really began to take hold. There is nothing selfish or entitled about expecting the decent jobs with decent pay they were promised, or expecting the promise of being anything you want to be honored.
That's all he was to us too.
Satanica
New Member
That's just the thing - you work hard and smart and guess what!? You still stay poor. Typical baby boomer mindset. Newsflash: what worked for your generation does not work today! I have friends with masters degrees that work in retail or for wages around $12 an hour.
I know plenty millennials that do well. If you didn't clearly read my message, it was meant for everyone concerning hard work and good decisions. So go ahead, label yourself something and feel free to victimize yourself because of it. Go ahead and blame the economy for your crappy position in life. Go ahead and blame the previous generation because they made it crappy for you. Go ahead and blame everything else outside your control. I bet this will improve your situation.
Business is business. If there's no need for your services then it's irrelevant to have a master's degree. You're missing the whole point with some unrealistic expectations then. Know the market and align to it. Don't expect it to align to you.
serp777
Well-Known Member
Its nonsense. There's a phenomena called Juvenoia which makes older generations more likely to complain about younger generations. In fact, crime, drug use, and violence have significantly decreased in the younger generation compared to when the older generations were young.
Check out what vsauce says about Juvenoia, its quite interesting.
Check out what vsauce says about Juvenoia, its quite interesting.
Shadow Wolf
Certified People sTabber & Business Owner
That's the issue. We tell people they can be anything they want, and then want to act like they shouldn't be upset when the reality is that if you want to make a decent living you have to forfeit your potential and do the dull, boring, and "safe" route. It's not living your life, but living to be an expendable cog feeding the whims of the bourgeoisie, the owners who are choosing what gets invested in and what gets done. We scoff at arts and humanities, but cry that we are becoming so dumb and culturally bland. Go ahead, be anything you want to be, but just don't expect to make enough to have a roof over your head or food on the table.