People Can't Pay Rent, Debt Is Insane, and the Economy Is Somehow 'Great'

[spookyturtle 9,466]

6 hours ago, Satisfied said:

$850 a month buys you a house in 30 years.  Total cost would be $306,000 (estimating escrow here). 

 

$1500 a month rent in 30 years gets you nothing, but your landlord took $540,000 of your hard earned money.

 

The difference is staggering ($234,000 in your pocket plus no more payments for life) and exactly why people should FIGHT to own a home if at all possible.

Around here $850 a month barely pays the taxes. But I do agree, fight to own a home.

[The Nature Boy 7,659]

everyone would be shocked how many people buy stuff they cant afford

[Sonea 138]

6 hours ago, Nature Boy Flair said:

I have so hard tried to  explain that to a young  coworker that just bought this instead of moving out of his apartment

 

 

Thats Doug.

 

I love his youtube channel. He drives all sorts of weird vehicles, from Volkswagon's "Thing", to soviet cars, to a tank.

 

https://www.autotrader.com/oversteer

Edited August 30, 2018 by Sonea

[jg121783 3,921]

It's real simple. If you can't afford the life style you want to live work hard to improve your situation. There are plenty of oppurtunities out there for those willing to work hard for what they want. It's not gonna be handed to you on a silver platter. If you are content with minimum wage that's fine but don't complain if you can't afford an apartment in the middle of a major city where people willing to pay more money than you want to live. There are plenty of places you can make it on minimum wage. If you don't want to live in those places put in the work to better yourself.

 

There are now more jobs in our economy than can be filled. I am a machinist who was laid off for a while 5 years ago. At that time I put my resume on so many job websites I lost count. Since then I might have got a call over the last few years from an employer asking me to interview for a job once or twice a year. Since Trump got in it has been one or 2 calls a month and in the last few months there have been so many calls I have lost count. The calls are filling up my voicemail box faster than I can empty it. They must be desperate if they are calling someone with a resume out of date by 5 years and asking them to come in for interviews. Some have even left messages flat out saying they just expanded their shop and can't find anyone to fill the new jobs. They have offered some pretty tempting compensation packages also. But I'm happy working where I am now on a weekend shift close to home for a few dollars less an hour. Anyways all that to say if you don't like your financial situation take action to change it or stop complaining.

[Voice of Reason 10,298]

3 hours ago, spookyturtle said:

Around here $850 a month barely pays the taxes. But I do agree, fight to own a home.

Yes, understand.  I could choose to buy a home in places where taxes are that high, or much higher.  But I prefer to buy in places where the taxes run $400-2500 a year.

[jg121783 3,921]

4 minutes ago, Satisfied said:

Yes, understand.  I could choose to buy a home in places where taxes are that high, or much higher.  But I prefer to buy in places where the taxes run $400-2500 a year.

Here I can buy a decent 3 bedroom house with a large garage and some land (that's good for deer hunting) for around 150k. It is outside of a town of 1000 people but that's the way I like it anyways.

[TBoneTX 46,041]

14 hours ago, yuna628 said:

Rent costs about $1200-2000 in these parts if you want a decent place at a complex that isn't rat/bug infested.

       The landlady was showing a prospective tenant a dingy room with badly spotted wallpaper.  "This is a very nice room," she declared.  The last man who lived here was an inventor -- he invented some kind of explosive."

       "I see," said the prospective tenant.  "And I suppose that the spots on the wall are the explosive?"

       "No," corrected the landlady, "they're the inventor."

[NikLR 13,232]

For most people, the 10% down payment is what keeps them from buying a home. When rent is so high, how do save it when you barely scrape by? Thankfully we could buy our home due to my husband being a veteran.  Our mortgage is now equal to the rent we were paying BUT we own the home, and its worth 100k more than what we paid.  We couldn't find another mortgage at this time now though for the same. Regardless this is now our home.   

I dont make his income and I am not sure I ever will down here.  I am too old to go back to school and actually make it worth having the students loans.  

[Neonred 3,636]

Delt with this issue this past weekend.  Went to Boston to see my wife's daughter, husband, and new child.  The daughter and husband both have very good jobs.  They have been renting a 2 bedroom apartment and now with a child, and planning for more kids, they feel they should buy a home with a yard.  They complained how expensive homes are in the Boston area. 

 

They live and work about 10 mile south of Boston.  They seemed to be hinting they could use some extra money for this house.  Interesting thing is they just had a 2 week vacation in England and Sicily taking the baby with them.  Also told us about the great seats they got for Elton John's final tour stop in Boston.  Their other passion is eating out at fine resturants. 

 

They didn't get any sympathy or money from me.

 

They added that because it is so expensive in Boston they are considering relocating to another location with the company they work for....in San Diego CA.  I  didnt have the heart to tell them about that move.....

 

 

[Dashinka 24,758]

10 hours ago, jg121783 said:

It's real simple. If you can't afford the life style you want to live work hard to improve your situation. There are plenty of oppurtunities out there for those willing to work hard for what they want. It's not gonna be handed to you on a silver platter. If you are content with minimum wage that's fine but don't complain if you can't afford an apartment in the middle of a major city where people willing to pay more money than you want to live. There are plenty of places you can make it on minimum wage. If you don't want to live in those places put in the work to better yourself.

 

There are now more jobs in our economy than can be filled. I am a machinist who was laid off for a while 5 years ago. At that time I put my resume on so many job websites I lost count. Since then I might have got a call over the last few years from an employer asking me to interview for a job once or twice a year. Since Trump got in it has been one or 2 calls a month and in the last few months there have been so many calls I have lost count. The calls are filling up my voicemail box faster than I can empty it. They must be desperate if they are calling someone with a resume out of date by 5 years and asking them to come in for interviews. Some have even left messages flat out saying they just expanded their shop and can't find anyone to fill the new jobs. They have offered some pretty tempting compensation packages also. But I'm happy working where I am now on a weekend shift close to home for a few dollars less an hour. Anyways all that to say if you don't like your financial situation take action to change it or stop complaining.

This seems to be the issue with many that are pushing socialism.  Life is not fair, but opportunity is fair depending on how hard people are willing to work for it.  It is all about life choices.

10 hours ago, jg121783 said:

Here I can buy a decent 3 bedroom house with a large garage and some land (that's good for deer hunting) for around 150k. It is outside of a town of 1000 people but that's the way I like it anyways.

And an out building to make cheese?

[NikLR 13,232]

4 hours ago, Neonred said:

Delt with this issue this past weekend.  Went to Boston to see my wife's daughter, husband, and new child.  The daughter and husband both have very good jobs.  They have been renting a 2 bedroom apartment and now with a child, and planning for more kids, they feel they should buy a home with a yard.  They complained how expensive homes are in the Boston area. 

 

They live and work about 10 mile south of Boston.  They seemed to be hinting they could use some extra money for this house.  Interesting thing is they just had a 2 week vacation in England and Sicily taking the baby with them.  Also told us about the great seats they got for Elton John's final tour stop in Boston.  Their other passion is eating out at fine resturants. 

 

They didn't get any sympathy or money from me.

 

They added that because it is so expensive in Boston they are considering relocating to another location with the company they work for....in San Diego CA.  I  didnt have the heart to tell them about that move.....

 

 

I agree that your step daughter and family should be able to save up for a down payment if they lived less extravagantly.  

[yuna628 9,707]

12 hours ago, jg121783 said:

Here I can buy a decent 3 bedroom house with a large garage and some land (that's good for deer hunting) for around 150k. It is outside of a town of 1000 people but that's the way I like it anyways.

I live in a tiny town, and while you can buy a home for that price here with a decent plot of land, most of the homes here run double that amount unless you go into the unsafe areas. A product of the particular market we're in and the fact that the majority that are buying these homes come from the next state over and commute. But we're looking to move closer to my husband's place of work instead of constantly commuting. That only leaves us with the option to move into a couple of the cities in the next state over (likely too expensive or too dangerous), move out to the county in the next state over (but these are 'up and coming' areas with a highly inflated market) or move to Jersey... and hell no.

2 hours ago, Bill & Katya said:

This seems to be the issue with many that are pushing socialism.  Life is not fair, but opportunity is fair depending on how hard people are willing to work for it.  It is all about life choices.

 

Again it's not just those in the minimum wage bracket, it's wages across the board, and some that work good jobs still are unable to afford prices. They make do with what they can and work hard. My husband is taking a gamble with this promotion. Even though he is currently paid less he very much enjoys the job he does. Taking the promotion could put him into a spot where he will enjoy his job much less, and deal with unpleasant persons providing stress and coworkers that I know will take advantage of him. Don't assume that everyone wants things handed to them or aren't working hard. Opportunities are not always fair, but people do decide to take them knowing that it could make them unhappy, but be their only option for betterment.

6 hours ago, Neonred said:

Delt with this issue this past weekend.  Went to Boston to see my wife's daughter, husband, and new child.  The daughter and husband both have very good jobs.  They have been renting a 2 bedroom apartment and now with a child, and planning for more kids, they feel they should buy a home with a yard.  They complained how expensive homes are in the Boston area. 

 

They live and work about 10 mile south of Boston.  They seemed to be hinting they could use some extra money for this house.  Interesting thing is they just had a 2 week vacation in England and Sicily taking the baby with them.  Also told us about the great seats they got for Elton John's final tour stop in Boston.  Their other passion is eating out at fine resturants. 

 

They didn't get any sympathy or money from me.

 

They added that because it is so expensive in Boston they are considering relocating to another location with the company they work for....in San Diego CA.  I  didnt have the heart to tell them about that move.....

 

 

Boston market seems very inflated in prices but the median prices in San Diego lol! They should be able to save up though. If they can afford rent for a 2b in the area they are currently in, it shouldn't be that difficult.

[NikLR 13,232]

13 hours ago, jg121783 said:

Here I can buy a decent 3 bedroom house with a large garage and some land (that's good for deer hunting) for around 150k. It is outside of a town of 1000 people but that's the way I like it anyways.

Here you can't buy an apartment in a bad neighborhood for that price. 

[Cyberfx1024 7,980]

8 hours ago, NikLR said:

For most people, the 10% down payment is what keeps them from buying a home. When rent is so high, how do save it when you barely scrape by? Thankfully we could buy our home due to my husband being a veteran.  Our mortgage is now equal to the rent we were paying BUT we own the home, and its worth 100k more than what we paid.  We couldn't find another mortgage at this time now though for the same. Regardless this is now our home.   

I dont make his income and I am not sure I ever will down here.  I am too old to go back to school and actually make it worth having the students loans.  

That's why I am glad that I can use the VA home loan so that I don't have to put the 10-20% down in order to get a mortgage. 

[NikLR 13,232]

10 minutes ago, Cyberfx1024 said:

That's why I am glad that I can use the VA home loan so that I don't have to put the 10-20% down in order to get a mortgage. 

Me too!  We would still be renting otherwise.