Yeah for a lot of people yeah they are f ucked. Imagine having day care costs as well which a lot two income families have to do just to pay the bills and that’s another $1500 - $2000/month.
In order to get ahead, a person has to work a main job and something on the side for quite a few years to get into a position to get affordability in life.
Then boomers will chime in that millennials spend all their money on avocado toast, and how at their age they were able to buy a 3 bedroom 2 bath house, in a nice neighborhood, have 2 cars, and pay for college all while working as a stocker at the grocery store.
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08-23-2022, 07:53 PM #31Pureblood
¡Viva Cristo Rey!
Он не человек, он как кусок железа
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08-23-2022, 07:58 PM #32
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08-23-2022, 08:01 PM #33
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08-23-2022, 08:06 PM #34
Right, and so we end up in neofeudalism. That’s the economic system that a lot of people are thinking we’re moving towards.
Pretty much Gen Z, or generation Alpha might be the last to be able to buy homes before it’s the elite only. Those who can’t will be serfs who work to pay their landlord.
They’ll own nothing and they’ll like it.
Lesson- build your wealth now so you can pass it on to your family. Your grandchildren can either be the nobles in this upcoming economic environment, or the serfs. It’s up to you to decide.Pureblood
¡Viva Cristo Rey!
Он не человек, он как кусок железа
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08-23-2022, 08:07 PM #35
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08-23-2022, 08:07 PM #36
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08-23-2022, 08:18 PM #37
- Join Date: Feb 2013
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By reading this post you acknowledge r32gojirra is an online persona and all posts by r32gojirra are satirical in nature. Comments by r32gojirra shall not reflect on the integrity and morals of the author portraying the online character nor any professional or contractual affiliates of the author.
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08-23-2022, 08:36 PM #38
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08-23-2022, 08:51 PM #39
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08-23-2022, 08:54 PM #40
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08-23-2022, 09:41 PM #41
Be disciplined enough to save back $30k/yr for 5 years. Easier to do if you also account for growth from investments too. 20% of $500k is only $100k, the extra $50k+ is to aid with closing costs, emergency fund, and if need be to assist with negotiations / bidding wars.
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Everything I write is NOT financial advice.
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08-23-2022, 09:43 PM #42
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08-23-2022, 09:47 PM #43
- Join Date: Jul 2010
- Location: Portland, Oregon, United States
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08-24-2022, 04:54 AM #44
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08-24-2022, 05:00 AM #45
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08-24-2022, 05:05 AM #46
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08-24-2022, 05:11 AM #47
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08-24-2022, 05:12 AM #48
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08-24-2022, 05:18 AM #49
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08-24-2022, 05:38 AM #50
- Join Date: Oct 2008
- Location: Falls Church, Virginia, United States
- Posts: 35,665
- Rep Power: 273257
Back when I first started looking for my first house I was only making $12/h, my wife made about $18/h, but together that only came out to about $60k/y. I would always read that the rule of thumb is to buy a house that is worth 2-3 times your yearly salary. I always thought to myself these rules of thumb were BS, at about that same time I decided to stop being poor, so I applied myself a bit, and I was astounded at how easy it was to not be a poverton. My most expensive house cost my wife and I about $600k, and we make just under $300k/y together.
So there's your answer OP, stop being a poorcel.When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
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08-24-2022, 06:01 AM #51
-They arent putting 20% down and will be eating PMI for years
-They lied to you and said they paid for it, but their parents made the downpayment and co-signed, pride is a hell of a drug
Or they make 80k-100k+/year and have good credit along with a downpayment saved.
The cheat to the system is to have your parents help with the downpayment and co sign, but of course this creates issues with true ownership and deflates the ego of new home buyers. Everyone tells you they got a sweet deal on the house for 500k. They dont tell you that they had a 3 week long back and forth with the bank where they called their mom and dad crying asking for their signature and 50k only to come back to a bidding war where another 20-40k just evaporates into thin air and their parents savings was the only thing even keeping the bank/realtor answering their calls.**Florida Crew**
**Waiting for National Guard Bus Ride to Labor Camp Crew**
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08-24-2022, 06:04 AM #52
- Join Date: Feb 2013
- Location: East Coast, Australia
- Posts: 21,050
- Rep Power: 408411
By reading this post you acknowledge r32gojirra is an online persona and all posts by r32gojirra are satirical in nature. Comments by r32gojirra shall not reflect on the integrity and morals of the author portraying the online character nor any professional or contractual affiliates of the author.
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Repped by kimm into 200kcrew crew
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08-24-2022, 06:06 AM #53
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08-24-2022, 06:09 AM #54
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08-24-2022, 06:12 AM #55
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08-24-2022, 06:15 AM #56
bad timing. you probably would have been good a couple years back. and this is why there wont be a crash like rentcels are always salivating about. lending restrictions are strict as fucck compared to 2008 when they were handing out mortgages like candy.
also just lmfao @ rentcels ITT thinking everyone buys with dads money. say it with me now....C - O - P - E. its okay though, we're all gonna make it.👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻👻
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08-24-2022, 06:17 AM #57
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