Student loan repayment pause about to un-pause

[WLDWUN]

Is there a year range on that? Or some other indication of what historical means? If that's a 14% increase in 1 generation, that is pretty sudden.

I stand corrected on the size. But is that largest generation currently, or largest historically?

sorry,
cut the bottom off
1950 til current

and yes, there were slightly more Boomers at one time.
76 miilion.

 

[arse_sidewards]

I expect insurance fraud to skyrocket over the next several years to cover gaps.

Yet another way they force us to pay for it.

 

[Kyle]

Just like nobody talks about the way of life for the average American, then vs now, when trying to blame boomers for their failures?

My dad grew up without A/C in texas. They didn’t put it in houses. My grand daddy was upper middle Class too. They had a whole house fan. It was hot.

Now a/c is a basic necessity along with internet and a smart phone…..

 

[Roc Doc]

Houses are more expensive to make now, not just due to inflation, but double pane windows, pre-wiring for ceiling fans, cable outlets in every room, heavier insulation, HVAC, soft water loops, multiple exterior facets, hard floors, granite counters, all that shit adds up. So it's not just higher land costs and bigger houses, it's all of it.

I don't feel sorry for millenials, the housing market started going crazy about the time I was done with roommates and renting, and it took moving to Vegas to get me into the housing market. If you really want something you'll do what it takes to get it done, and not sit around complaining about Macro bullshit.

 

[JR4X]

Houses are more expensive to make now, not just due to inflation, but double pane windows, pre-wiring for ceiling fans, cable outlets in every room, heavier insulation, HVAC, soft water loops, multiple exterior facets, hard floors, granite counters, all that shit adds up. So it's not just higher land costs and bigger houses, it's all of it.

I don't feel sorry for millenials, the housing market started going crazy about the time I was done with roommates and renting, and it took moving to Vegas to get me into the housing market. If you really want something you'll do what it takes to get it done, and not sit around complaining about Macro bullshit.

I agree with blaming millennials for the current housing situation. My generation just happily went into a debt service economy and stopped giving a fuck about solvency or bankruptcy.

But is a couple hundred thousand dollars really micro bull shit? A quarter mill is micro?

 

[Roc Doc]

I agree with blaming millennials for the current housing situation. My generation just happily went into a debt service economy and stopped giving a fuck about solvency or bankruptcy.

But is a couple hundred thousand dollars really micro bull shit? A quarter mill is micro?

Trust me, financial responsibility is not limited to one generation. Gen X'r that I worked with at Wynn, bought a $75k wake boat in 2006 with a HELOC on his house...perfect timing for the convention industry to fall 50%. He always bitched that the sales department wasn't booking enough gigs, so his Production Manager commission was down and he might have to sell his boat. Lucky for him, it got stolen and found burned in the desert. Fucking scumbag in a suit and tie.

 

[Clemson13]

Show the financials to back up this completely ridiculous claim.

Financial reasons being a well compensated millennial is hard? Let me give it a go:

Well.......my cars are old (avg of 2004)? I cant buy the airplane i want to commute from my place to my parents house yet? Give me another 5 years and the plane may through. Eating out is cheap enough though i predominantly do it while traveling for work. My investments have taken a beating and moving my portfolio into a larger allocation of cash/ equivelents (at an avg return of 4.9%) isnt growing at the rate i need since the market took back off for some reason

Yes, my life is very hard

 

[Texas97]

Trust me, financial responsibility is not limited to one generation. Gen X'r that I worked with at Wynn, bought a $75k wake boat in 2006 with a HELOC on his house...perfect timing for the convention industry to fall 50%. He always bitched that the sales department wasn't booking enough gigs, so his Production Manager commission was down and he might have to sell his boat. Lucky for him, it got stolen and found burned in the desert. Fucking scumbag in a suit and tie.

so what happened? did the prop burn up because of the lack of water in the desert? was it friction related with the sand on the hull and it ignited the fiberglass? Did they have a fuel leak when he was unloading off the trailer? So many questions.

black fingers

 

[ProjectTwin]

Minnesota to Provide Free College Tuition, Driver's License, Health Care to Illegal Immigrants Using Taxpayers Money | The Gateway Pundit | by Jim Hoft

Illegal immigrant students residing in Minnesota will now be eligible for the newly introduced tuition-free college program, according to government sources cited by Axios.

www.thegatewaypundit.com

 

[gunracer1]

so what happened? did the prop burn up because of the lack of water in the desert? was it friction related with the sand on the hull and it ignited the fiberglass? Did they have a fuel leak when he was unloading off the trailer? So many questions.

black fingers

the loan and insurance papers were in the glove box and caused an awful amount of friction.

 

[Rockbuggy84]

Financial reasons being a well compensated millennial is hard? Let me give it a go:

Well.......my cars are old (avg of 2004)? I cant buy the airplane i want to commute from my place to my parents house yet? Give me another 5 years and the plane may through. Eating out is cheap enough though i predominantly do it while traveling for work. My investments have taken a beating and moving my portfolio into a larger allocation of cash/ equivelents (at an avg return of 4.9%) isnt growing at the rate i need since the market took back off for some reason

Yes, my life is very hard

 

[Roc Doc]

so what happened? did the prop burn up because of the lack of water in the desert? was it friction related with the sand on the hull and it ignited the fiberglass? Did they have a fuel leak when he was unloading off the trailer? So many questions.

black fingers

I think it was all those things. Dude could have just rode out the "Financial Crisis" like the rest of it, but he got freaked out that the boat was going to lead to him losing his house. He was a talented lighting designer, and got paid a healthy salary, but got used to those big commission checks on top, weird, it's almost like boom and bust go in cycles.

 

[Roc Doc]

the loan and insurance papers were in the glove box and caused an awful amount of friction.

Firefighter I knew in Sac told me they responded to a vehicle fire and the license plates had been removed, but they got the fire out quickly and the reg and insurance docs were in the glovebox, not to mention VIN, block numbers and any number of other identifiers. PoPo had him hitched up before nightfall.

 

[Rockbuggy84]

My dad grew up without A/C in texas. They didn’t put it in houses. My grand daddy was upper middle Class too. They had a whole house fan. It was hot.

Now a/c is a basic necessity along with internet and a smart phone…..

I was just thinking about the glamorous lifestyle I lived, being raised by boomers when life was easy and money was just pouring from the mountain tops.

We didn’t have ac until 1996 because houses didn’t have it and it was too expensive. A family of 5 got to cruise around in my dads 3seater, 1979 Chevy luv or my moms 80’s Nissan maxima, both didn’t have ac. Those 100*+ days were fuckin awesome.

I often think to myself, “man, life really is unfair. My house is 70* when it’s 100* outside and my heated and cold seats in my vehicles is just fuckin miserable”.

My mom and dad have no idea the suffering I endure dealing with these things. Hell, my house is 3x the size of theirs, so that’s a lot of cleaning and walking required to get from one end to the other.

 

[45acp]

That chart is not adjusted for inflation, so it makes things seem more dramatic than they actually are. Even adjusted for inflation, the trend still holds, however the sharpest part of the increase occurred over just the last few years. Heres a chart with home prices normalized to inflation:

However, as pointed out bgaidan and others, the average size of homes in the U.S. has more than doubled since the 1960s.

Maybe everyone doesn't need to live in a McMansion? My home is 1,550 sq.ft. I could have afforded more house, but I never understood having all of your wealth tied up in your primary residence.

I'm not really getting the graph. No doubt the average home size has increased dramatically over decades... but 2700ft for the average? I don’t believe that number. Are they including garage, porch, basement, attic etc?

 

[gunracer1]

Since Great Recession lows (and on a one-year moving average basis), the average size of new single-family homes is now 6.3% higher at 2,537 square feet, while the median size is 10% higher at 2,312 square feet.

conditioned space, no garages, basement or porches.

 

[Texas97]

I'm not really getting the graph. No doubt the average home size has increased dramatically over decades... but 2700ft for the average? I don’t believe that number. Are they including garage, porch, basement, attic etc?

you dont believe it? with interest rates around 3% for a decade or more, you can pay 1800 square feet monthly payment for a 3600 sf home.

All the cookie cutter houses on 1/4 acre lots only give 6 feet to each side property line and then maximize the footprint by being 2 stories. i bet the average being built in the last 2 years alone will be easily 3000 SF. very few developers are building anything under $150k.

 

[arse_sidewards]

But is a couple hundred thousand dollars really micro bull shit? A quarter mill is micro?

Textbook example of an out of touch old man that doesn't remember what things were like when he was younger.

"How does anyone not have $20k sitting around for toy purchases" the grumpy old man asks.

"IDK grandpa maybe because people have mortgages to pay down, shop builds to save for, mortgages to pay, and 401ks we're funding instead of pulling money out of"

 

[Pt_Ranger_v8]

Look around at the small towns 90+ minutes outside the big city. Look at the employment opportunities, then add 50% to the pay because that is what it would equate to in your life.

Nobody wants to live in the socialist shitholes though

 

[Rockbuggy84]

Textbook example of an out of touch old man that doesn't remember what things were like when he was younger.

"How does anyone not have $20k sitting around for toy purchases" the grumpy old man asks.

"IDK grandpa maybe because people have mortgages to pay down, shop builds to save for, mortgages to pay, and 401ks we're funding instead of pulling money out of"

Did you grow in an extremely wealthy home? I ask this because I don’t know anyone that fits your description.

 

[arse_sidewards]

Did you grow in an extremely wealthy home?

What do you think?

I ask this because I don’t know anyone that fits your description.

Maybe 20 was too big a number but there's certainly a few old men around here who don't remember what it's like to have literally every dollar earmarked for something.

 

[45acp]

you dont believe it? with interest rates around 3% for a decade or more, you can pay 1800 square feet monthly payment for a 3600 sf home.

All the cookie cutter houses on 1/4 acre lots only give 6 feet to each side property line and then maximize the footprint by being 2 stories. i bet the average being built in the last 2 years alone will be easily 3000 SF. very few developers are building anything under $150k.

Ok. Wow, I'm a poor. Didn't know. Thought I'd gotten out of all that.

 

[Snoop dogg]

you dont believe it? with interest rates around 3% for a decade or more, you can pay 1800 square feet monthly payment for a 3600 sf home.

All the cookie cutter houses on 1/4 acre lots only give 6 feet to each side property line and then maximize the footprint by being 2 stories. i bet the average being built in the last 2 years alone will be easily 3000 SF. very few developers are building anything under $150k.

Must be nice to get .25 acre.

Around Portland metro...it's typically .10 or less. Listings will just include sq/ft of lot bc it's not even .10 acre.

I moved out of Portland metro and bought my first house Dec 2022....my commute actually only increased by 10 minutes, but it's a much better commute. Moved to a small town of 1700 people, COL is lower, kept my same job/same pay, no real increase in fuel cost since hwy mpg. Bought a 800sq ft house on .30 of an acre. Electric bill was $40 for may. No DEQ bs. Offered 40k under asking, accepted, house appraised 50k over my loan...so I guess i have around 50k in equity when I crossed that threshold.

House built in the 40s, remodeled in the 70s. It's perfect for me.

I absolutely think people are crazy to pay the market value of a 1200 sq ft house that is minimum 50 years old, on less than .10 of an acre in Portland. We are talking 400k-500k. Again I'm not a brainiac but maybe I'm cheap. I can add and subtract and I could never figure out how anyone could think that buying in the Portland housing market the last 5 years was a smart idea. It's gonna collapse and people that are 100-150k inflated value over what the god dam house is really worth in a normal market are gonna be hung out to dry.

My dad did give me some advice....he said you don't ever want to be house pour. You have a nice house but each month is race to see if you can pay the mortgage and bills, with no money for fun....and cash money, not a fkn credit card.

 

['84 Bronco II]

We want the economy to tighten its belt and trim some fat because it is the only way we see a chance to live the lives our parents lived.

I know for a fact I am living a much more comfortable life than my parents and grandparents were. Maybe my reality is different than most? I know I make more money than my mother currently does, and I might make more than my father who owns his own business too, but obviously his income is more variable than a salaried employee. I am way ahead of where they were at my age.

 

[Rockbuggy84]

What do you think?


Maybe 20 was too big a number but there's certainly a few old men around here who don't remember what it's like to have literally every dollar earmarked for something.

Can I ask what city and state you live in? I’d like to see the market trend based on tax rolls.

I live in California and our tax history in most places show shit didn’t get outta hand until after 2000. That’s way beyond boomers. Hell, in 08’ I bought a house for $205,000 and the other for $115,000. Made over $500,000 between the 2 of them in 17’.

I purchased both homes with zero help at 24. I simply lived like my parents and pinched Pennie’s from age 16. I just made more than them because job opportunities and pay were much easier to come by when I entered the workforce.

 

[arse_sidewards]

I know for a fact I am living a much more comfortable life than my parents and grandparents were. Maybe my reality is different than most? I know I make more money than my mother currently does, and I might make more than my father who owns his own business too, but obviously his income is more variable than a salaried employee. I am way ahead of where they were at my age.

Same but with the absolutely massive caveat that they were still doing worthless hippie shit and working menial jobs when they were my age. But they made every dumb decision in the book and I've been prioritizing doing it right since I was a teenager.

If I behaved like them I sure as shit wouldn't have what they have now when I'm their age.

 

[Roc Doc]

you dont believe it? with interest rates around 3% for a decade or more, you can pay 1800 square feet monthly payment for a 3600 sf home.

All the cookie cutter houses on 1/4 acre lots only give 6 feet to each side property line and then maximize the footprint by being 2 stories. i bet the average being built in the last 2 years alone will be easily 3000 SF. very few developers are building anything under $150k.

My Vegas house was 2460' on a 6500' lot, so that's 1/6th acre. 5.5" from the centerline of the fence to the structure. Now they're
building these 3 story townhomes that look like three shipping containers stacked on top of each other. NBD, but I sure do like having some room and space from neighbors now.

 

[arse_sidewards]

Can I ask what city and state you live in? I’d like to see the market trend based on tax rolls.

Worcester County, Massachusetts - Wikipedia

en.wikipedia.org

Pick anything on that list with a per-capita income in the 20s and it should be representative.

I live in California and our tax history in most places show shit didn’t get outta hand until after 2000. That’s way beyond boomers. Hell, in 08’ I bought a house for $205,000 and the other for $115,000. Made over $500,000 between the 2 of them in 17’.

I could have made bank, like 1-1.5 year of net income if I sold at the peak in 2021-22 but moving now just doesn't fit my life plan and that's really not a life changing paycheck on a multi-year timeline and the interruption would have set me back that much or more.

I purchased both homes with zero help at 24. I simply lived like my parents and pinched Pennie’s from age 16.

That's basically what I did. No partying, no drugs, no rock crawlers. Bought my house 1yr out of college. If everyone worked like me we wouldn't be having this discussion. But what I did is absolutely an exceptional amount of work compared to the average person.

 

[Baldy]

This, I'm a boomer and don't understand how I ruined this country. I came from a really poor family went to bed hungry a lot, got my first job @ 10 years old at $1.00 an hour. At 18 knew I couldn't afford college so with no other option enlisted did 5 years. Got out and used my military experience to get a good paying job. Worked hard, volunteering for every overtime shift I could get, worked most holidays. Didn't live outside my means, saved what I could, made a lot of sacrifices to get financially ahead and after 30 years ended up with a decent retirement.
Now I get told by the younger generation I ruined America. Someone please explain to me as you would a child how I managed to that.

As I thought it's been 3 days and no one has explained to me why as a Boomer I ruined America.

 

[Roc Doc]

That's basically what I did. No partying, no drugs, no rock crawlers. Bought my house 1yr out of college. If everyone worked like me we wouldn't be having this discussion. But what I did is absolutely an exceptional amount of work compared to the average person.

Better be careful, you're awfully close to falling over backwards.

Now who sounds like the grumpy old man.