Step 1 - make housing unaffordable
Step 2 - start crying about declining fertility rates
Step 3 - just keep whining and applying bandaid solutions that don't do anything to address the underlying cause of unaffordable housing
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Step 1 - make housing unaffordable
Step 2 - start crying about declining fertility rates
Step 3 - just keep whining and applying bandaid solutions that don't do anything to address the underlying cause of unaffordable housing
Step 4 - scapegoat minorities for all of the country's issues
hope the boomers die because no one wants to pick up their shit in nursing homes
This is something I keep thinking about.
My wife and I have been together for 20 years. For the majority of that time, we have been taking care of various silent-generation and boomer members of her family who decided that they will just dump themselves on the most compassionate and competent member of the family (my wife) and thats their retirement plan. Right now we are dealing with her mother, and we have made it clear to the rest of her family and my family that after her, we're done, and anyone else can live under a fucking overpass because we would like to be husband and wife, not caretakers.
My wife has become adept at finding care facilities that take medicare and placing people in them. But not everyone has the time/ability to make that happen.
Of course we are not unique in having this issue. What happens when two people are staying in a 1 bedroom apartment that they both must work to afford? They might really want to care for mom and dad but...
And we end up with considerably more homeless boomers.
yeah this is on them to figure out. Hoping their end of days is no one else's problem but their own
Yeah my sympathy ran out around 2016. For some reason.
The eldery and truck drivers: two groups of people I used to respect, until I met too many of them.
same here buddy, used to have alot of respect, just their actions don't deserve sympathy. got tired of the get mine attitude. our generation and newer generations just get the shit end of things and we don't get a chance to play by the same rules.
Boomers (b. 1946-1966) bought houses long before they were $70k. Assuming a great job straight out of high school, the first ones would have been buying homes as early as 1964, the last boomers by 1984.
Taking the middle - 1974 - and in my neck of the woods the median 1974 starter home was about $16k CAD, and the minimum wage was $4k/yr. This put even minimum wage workers within spitting distance of the flip side of the one-third rule, which states the price of a new home should not exceed three years of income. Workers in good industries - such as framers, plumbers, and electricians - easily met this 3× rule even within a year or three of starting work.
So the better phrase would be:
boomers bought houses at $16k when they were making $6k/yr
Boomers selling their homes at 10x cost and preaching about savvy investing
The problem is the house is so overvalued, they never modernized it, and is far beyond what most people can afford for it. They're just born at the right time to be able to retire and have a house.
nah it’s deregulation on corps buying homes as investments
like usual thank republicans and neolibs
Also, AirBnB creating a system that incentivized the purchase of homes as rentals.
Not even an exaggeration. My parents bought their house in the 1960s for $14K. Their 30-year mortgage went almost to the year 2000 and their monthly payment was fucking $85 the entire time. They sold it fifteen years ago for $190K.
Damn never realized this but every boomer homeowner is actually an investment savant. Why are we all so stupid? Why can't we just do this? ^/s
The dumbest financial mistake you've ever made was not going into debt immediately to buy a home the day you were born. Should have planned ahead.
I do not like calling people trying to afford to buy a pile of lumber and tape on a small parcel a "market".
It removes the fact that homes used to stay flat value or go down in value before houses became a "market".
Fuck markets. The markets should be crushed. And American home builders should be ashamed of the quality of American homes.
A pile of lumber and tape.
Of course, a "market" doesn't have to mean the thing is a financial instrument. I go to the market to buy grocereries. I am not intending to resell the carrots that I bought from "market".
And yet grocery stores are in a similar situation with prices going up while quality and quantity go down. Maybe it doesn't have to mean the thing is a financial instrument but if it can be it will be.
This is how the billionaires are winning, they manipulate folks into being angry at everyone but THEM. "Boomers" didn't buy $70k houses, your grandparents did.
Meamwhile, Zuckerberg is laughing his ass off while fortifying his Kauai ranch estate.
"Boomers" are the grandparents to most of social media posters these days. Statistically the internet stays centered at about teenager to 20 year old being the peak of the normal distribution of users. That's the Baby Boomers' grandchildren. Great grandchildren even.
Just pointing that out, but otherwise I agree. They're all angry at a strawman "Boomer". That strawman in reality is demographically a small portion of the world population who are very rich. The majority of baby boomers got fucked in their own way by the rich.
You guys are all distracted into fighting each other.
Furthermore, I'm continuously baffled at how or why people fawn over the anecdotes about those who talk about their parents having a good life straight out of college and now owning multi-million dollar homes. How can you not realize these anecdotes are from rich kids of rich boomers. You guys are so hungry to eat the rich??? That's them right there. What are you praising and fawning over them for. Start eating.
All part of the distraction. The lesser than billionaire rich hiding in plain sight, running distraction for the richest of the rich.
You can still buy homes in US cities for under $150k. I just looked up my first home. I paid $37k in 1996, sold it for $74k in 2007, it's worth about $125k now. It's not a great location, but there are good jobs around St. Louis. If you want to live in an Instagram home in a big coastal city, I have no sympathy.
The sad part is that I make less money today than I did in 1996, not even factoring inflation. Inflation isn't so terrible if wages move with it, but wages are completely stagnant even as prices double. I can't afford to move. I've been stuck in my current home since I bought it. I just hope I'm able to pay it off before I'm no longer able to work.
Yeah, but now you and your significant other work so thats like 120k a year. /s
And the fact that you're each working multiple part time jobs and gigs, well that's the extra freedom we had lying around.
Not just the US, we can't buy a house anywhere, boomer cunts stole everything from future generations and will claim to their dying breath that THEY had it rough.
Dont fall for the intergenerational war. The rich are sitting on all the assets and stealing from future generations
Ya but they rich are mostly boomers and boomers are actively voting and supporting policies that make this worse. It's not universal but does hold some weight.
Correct. What all these places have in common is housing expansion after WW2 when personal automobile became a thing for majority. There is no more cheap land. We are back to 19th century and it sucks.
Wages really need to go up if prices won't come down. Even food is unaffordable.
LOL 😂 in Canada, if minimum wage - currently $18.25/hr - was indexed to home prices starting from 1972, when median homes in my city were $16k and minimum wage was $4k/yr, said minimum wage would currently be $150/hr, or $300k/yr.
That’s an 8.22× jump in minimum wage.
I would love to see most people being faced with this fact.
I realize the Canadian dollar is weaker than the US dollar but $18.25 is a pipe dream for tens of millions of Americans. Our minimum wage is $7.25. As of today that is $10. 29 CAD. Wages in my area are a little higher, places generally pay $13-15 and maybe $20 for skilled jobs. But I know a ton of people making around $13. Even that is basically right at Canadian minimum wage after converting. Our housing isn't cheap either.
Meaningful change will only happen when fewer than half of all people own houses. Now, more than half owns a property, and, if the system was to change, they'd lose money. More than half the people will uphold this status quo.
It hurts homeowners who aren't interested in ever moving as well. Property taxes are based on home value.
Yo, who be making 60k? That sounds like Gucci shit.