Let’s try here for housing, choose any date for any of the metrics provided.

Apr 17, 2023
11:13:38pm

Atmospheric_Cougar All-American

Home Price to Income Ratio (US & UK) - 73 Year Chart | Longtermtrends

Historically, an average house in the U.S. cost around 5 times the yearly household income. The ratio in this chart divides the Case-Shiller Home Price Index by the US median annual household income.

https://www.longtermtrends.net/home-price-median-annual-income-ratio/

We can do the same thing for health care costs and education. It’s not cheating. It’s well know.

Households are near breaking points with debt of all sorts. It’s tough out there for a lot of people. It’s okay to address that fact. How we fix it can be debated. But fiscal and monetary policy for the past 40 years has dug the economy and households a deep grave. It’s not going to be smooth to get out of this without causing more inflation.

CNBC

Credit card debt is at an all-time high, putting households near 'breaking point,' study shows

Credit card debt hit a record $930.6 billion at the end of 2022, putting households' finances near a projected breaking point, a new report finds.

https://www.cnbc.com/amp/2023/03/09/as-credit-card-debt-hits-new-high-households-near-a-breaking-point.html

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Atmospheric_Cougar

Previous username: The_Cuss
Bio page: Atmospheric_Cougar
Joined: Aug 23, 2016
Last login: Sep 18, 2024
Total posts: 5,929 (4 FO)

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Messages

Author

Time

Oh brother. Nothing like seeing a bunch of millennials and gen z’ers banding

OKchief

4/16/23 11:36am

RE: Oh brother. Nothing like seeing a bunch of millennials and gen z’ers

JohnnyC

4/16/23 11:38am

Every generation has its struggles. We have to keep things in perspective,

Joysey

4/16/23 11:40am

Especially when we know the real culprit—the Dutch.

Ojiisan

4/16/23 11:42am

Gen Z is growing up in objectively worse conditions than previous generations

vagabonder

4/16/23 11:42am

What objective standards are you talking about?

nova_coug_fan

4/16/23 11:53am

Costs of housing, education, and healthcare relative to inflation. No pensions.

vagabonder

4/16/23 12:01pm

Most boomers don’t have pensions and the ones that do…

docrick

4/16/23 12:11pm

This. I have only 2 pensions. $700 from 1 company and $300 from another.

Cougarbib

4/16/23 1:43pm

You get 60k between pensions and SS, two things future generations will never

vagabonder

4/16/23 2:00pm

Oh he's got a bunch of houses too.

Shore10

4/16/23 3:10pm

This is true. Rentals. Not empty vacation homes.

Cougarbib

4/16/23 4:26pm

3 words. 401K. I think most people that make a reasonable effort will get more

Cougarbib

4/16/23 4:25pm

Most people, no matter what generation…

docrick

4/16/23 4:42pm

Compounding interest FTW.

Cougarbib

4/16/23 4:51pm

So you're suggesting that everybody save at bare minimum 40% of their monthly $?

tarzan15

4/16/23 5:01pm

Rule 1. It’s not what you make it’s what you do with what you make

docrick

4/16/23 6:13pm

U can withdraw from 401K for emergencies. Just learn the difference between need

Cougarbib

4/16/23 8:29pm

Also realize tha not only is your tithing a dollar for dollar….

docrick

4/16/23 9:14pm

This really lacks perspective. The generation before me paid 15% interest on their mortgages, never went on vacation and

cheezedawg

4/16/23 12:15pm

Maybe 15% initially but with a ton of opportunities to refinance. A lot of

Lord Jim

4/16/23 12:19pm

Time will tell but real estate has always been a good investment

docrick

4/16/23 12:24pm

I’m 35. My home I bought on 50k income a year has increased by 200k.

Boring

4/16/23 1:50pm

My first mortgage was to buy a condo at BYU when I was still a student. I remember calling the mortgage broker twice a

cheezedawg

4/16/23 2:22pm

Rates were over 10% for almost 15 years. It wasn’t until the 1990s that we got single digit mortgage rates again. People

cheezedawg

4/16/23 2:27pm

Give me 25% interest rate with how cheap homes were back then.

Shore10

4/17/23 8:57am

I made under $28K a year back then. Yes home prices were lower. Interest rates

Cougarbib

4/17/23 9:19am

Lol what crash. They're doing 40 year mortgage options now.

Shore10

4/17/23 12:40pm

That is my point. There was no crash. And the dip did not help buyers because

Cougarbib

4/18/23 1:39am

Housing prices are a function of interest rates tho

cheezedawg

4/17/23 11:31am

To the upside. Not as much to the downside. Housing prices are sticky.

Shore10

4/17/23 12:39pm

I don't think this post is nearly as powerful as you think it is.

Shore10

4/16/23 12:20pm

IPHONES AND INTEREST RATES

vagabonder

4/16/23 12:23pm

There is a lot of survivorship bias in judging that generation. The ones you are holding up as examples are the ones

cheezedawg

4/16/23 2:29pm

How many vacations do you think millennials and Gen z are talking a year?

Shore10

4/16/23 3:15pm

Expedia did a survey ~3 years ago that said that millennials take an average of 35 days of vacation per year and spend

cheezedawg

4/16/23 5:13pm

I asked your opinion, so you Google something instead.

Shore10

4/16/23 5:25pm

I don't know that either of you are wrong.

Courtimedes

4/16/23 5:44pm

You asked what I thought it was so I told you what I thought based on something I remember reading a few years ago.

cheezedawg

4/16/23 8:55pm

If you aren’t talking pmt/wage ratio, you are being deceptive.

conetah

4/16/23 11:41pm

He's purposefully ignoring that aspect because it nullifies his argument.

Shore10

4/17/23 8:58am

This is some pisspoor whining

boyblue

4/16/23 1:06pm

Forgot the link

boyblue

4/16/23 1:21pm

That’s a cool graph, no compare it to cost of housing, education, and healthcare

Atmospheric_Cougar

4/16/23 1:43pm

I already explained how inflation is calculated, some categories will be higher

boyblue

4/16/23 10:02pm

Real wages have been stagnant since the 1970s… I’m lost with your response

Atmospheric_Cougar

4/16/23 11:49pm

That article is a great example of intellectual dishonesty

boyblue

4/17/23 10:49pm

Let’s try here for housing, choose any date for any of the metrics provided.

Atmospheric_Cougar

4/17/23 11:13pm

Bro, my original post was arguing that picking out single categories was flawed

boyblue

4/18/23 7:19am

As for the AEI article, I wonder why they are using non-supervisory production

boyblue

4/17/23 11:20pm

That’s simple, wage/wealth growth is disproportionately skewed by the top 5%.

Atmospheric_Cougar

4/18/23 7:53am

Not as simple as you think

boyblue

4/18/23 10:49am

I love it. You claim it isn't that simple but continually reference one point.

Atmospheric_Cougar

4/18/23 1:01pm

Your real wages jump mightily when u quit Yning, work hard, get promotions,

Cougarbib

4/18/23 1:42am

Minimum wage. LoL. Is there anyone left in America working for minimum wage? FF

Cougarbib

4/16/23 1:37pm

I wonder what the cost of starter homes would be today if the homes were

squidmark

4/16/23 2:06pm

<< Deleted >>

here's to hoping

4/16/23 2:54pm

As a Freshman at BYU - University Villas with 4 of us sharing apt 2 per bedroom.

Cougarbib

4/16/23 4:50pm

It’s not hard to find out. Those homes still exist today. Zillow has the price.

Atmospheric_Cougar

4/16/23 8:39pm

As asked above…what are the worse conditions?

Refugee

4/16/23 11:55am

How so?

docrick

4/16/23 12:02pm

I am not sure I disagree with you, but I do think that the internet,

Courtimedes

4/16/23 12:07pm

Other things that are big advantages now are the internet boom and social media

BYUfan92

4/16/23 2:06pm

You can’t be serious with this. You realize that strategy is so simple the

Atmospheric_Cougar

4/16/23 9:06pm

I didn’t say drop shipping or influencers.

BYUfan92

4/17/23 12:14am

You dodged all the facts I shared and restated your glee about online education.

Atmospheric_Cougar

4/17/23 1:39pm

Nope, I acknowledged that there are challenges for this generation that

BYUfan92

4/17/23 4:56pm

Doubling down I see, no problem, we can agree to disagree. I'm not doom/gloom

Atmospheric_Cougar

4/17/23 6:05pm

RE: Doubling down I see, no problem, we can agree to disagree. I'm not

BYUfan92

4/17/23 6:19pm

Previous generations that lived in small houses with no smart phones, very basic

NYC and Japan

4/16/23 9:03pm

Spoken like a true millennial. Boomers and Gen X could learn a lot from this

Baron

4/16/23 11:44am

You highly underestimate how difficult a life of ingesting lead has made learnin

vagabonder

4/16/23 11:47am

Your last sentence highlights the problem with boomers. It’s pure materialism

Lord Jim

4/16/23 11:50am

But they can buy iPhones. Did previous generations have iPhones? Checkmate. TIC

vagabonder

4/16/23 11:53am

Oh my goodness you nailed the attitude

Mitty

4/16/23 9:28pm

Pointing fingers at people is funny when the current degradation of society

OKchief

4/16/23 11:58am

I find it odd when people feel personally attacked when their generation gets

Lord Jim

4/16/23 12:07pm

Would you find it surprising if an African American got offended when

notaboy

4/16/23 12:19pm

Call me crazy but I think every generation has contributed in different ways to

gww687

4/16/23 12:05pm

Why can’t I work harder, make ends meet to take care of my family AND complain

BYUheaven

4/16/23 11:53am

Ok chief

RealTaysomHill

4/16/23 12:02pm

America is nearly unrecognizable from 30 years ago.

SLC-Durham

4/16/23 12:03pm

Homes are expensive, because they are dramatically larger than averages 20, 40,

NYC and Japan

4/16/23 9:13pm

You get a 10-15% raise annually. Most people on CB will never sniff a raise like

tarzan15

4/16/23 12:11pm

This is America. Go get his job/career

docrick

4/16/23 12:18pm

Like I said, it’s America. If you aren’t sniffing increases in pay you can start

OKchief

4/16/23 12:18pm

Lol. K. 👍

tarzan15

4/16/23 12:21pm

Honestly no disrespect but….

docrick

4/16/23 12:26pm

I never said it's not achievable.

tarzan15

4/16/23 12:44pm

Sounds like a bunch of bad excuses to me

OKchief

4/16/23 1:47pm

Lol. K. 👍

tarzan15

4/16/23 1:50pm

I keep wondering what’s so funny

OKchief

4/16/23 2:05pm

Don’t worry about it, chief.

tarzan15

4/16/23 2:08pm

Keep whining tarzan

OKchief

4/16/23 2:14pm

Lol. K. 👍

tarzan15

4/16/23 2:26pm

You seem closed minded and cocky. Empathy is a good thing, we don’t know

Atmospheric_Cougar

4/16/23 9:16pm

Nothing funny about it. Just a few years of 80 hour weeks in front of you

OKchief

4/16/23 12:27pm

I felt the same way as a young man and my dad said..

docrick

4/16/23 12:29pm

Like it. My dad said opportunity comes dressed in work clothes.

Acorn

4/16/23 1:33pm

You sound like you really worked your way up lol.

Shore10

4/16/23 12:17pm

Depends on if you view putting everything on the line to buy a struggling

OKchief

4/16/23 12:21pm

If I had a dollar ever time i heard someone say 80hr wks for years...

Shore10

4/16/23 12:31pm

More specifically it was just north of 2 years. Try it sometime I dare you

OKchief

4/16/23 12:47pm

Hear it one more time then. Did it for years. Hired many others to do it. Completely worth it.

Longhaul

4/16/23 1:37pm

Thank you. Another dollar in the jar of unremarkable advice.

Shore10

4/16/23 3:31pm

Well said. I agree. It’s another “pull yourself up by your bootstraps” comment.

Atmospheric_Cougar

4/16/23 9:19pm

Maybe if you weren’t so lazy and worked 100hrs you would actually be successful.

SLC-Durham

4/16/23 2:19pm

Well said but you're still leaving 68 hours on the table/wk.

Shore10

4/16/23 3:35pm

Pssh. I used to bill at least 9000 hours every year at my first firm.

Courtimedes

4/16/23 3:51pm

This is inspiring.

Shore10

4/16/23 3:54pm

It is funny to hear people complain about the boomers and then in the next post

O Gaucho

4/16/23 12:26pm

Links please. TIA

Shore10

4/16/23 12:32pm

<< Deleted >>

Buffalo

4/16/23 1:18pm

It comes down to two rising costs: housing and education

violetjazz

4/16/23 12:45pm

Ironically, Boomers say the current generation has it better mostly because...

Shore10

4/16/23 12:53pm

Exactly, if boomers had to buy a starter home today with college debt… game over

Atmospheric_Cougar

4/16/23 1:46pm

I said the same thing to my dad and he laughed back then

docrick

4/16/23 4:21pm

Except it’s a fact that current home affordability is at an all time low… but

Atmospheric_Cougar

4/16/23 9:21pm

There is some validity to this

docrick

4/17/23 8:17am

Look up the starter homes built in the 60's and 70's. They still exist today.

Atmospheric_Cougar

4/17/23 11:36am

Sure it does

docrick

4/17/23 1:16pm

So look up what your first home is worth today. Is it higher now? By how much?

Atmospheric_Cougar

4/17/23 1:41pm

Dude....

docrick

4/17/23 2:00pm

LOL, you think homes doubling every 2-3 years in price is sustainable?

Atmospheric_Cougar

4/17/23 6:08pm

No. Every 7-10 years doubling has been sustainable since before I was born in

Cougarbib

4/18/23 1:45am

I kinda agree but pointing out facts isn’t whining. You have to find the root

FieroCoug

4/16/23 12:50pm

Amen brother. Preach. Just do it. In my own family we range from end boomers

Acorn

4/16/23 1:27pm

They Didn't Vote or Care

DrewGundy

4/16/23 2:16pm

How long have millennials had the largest voting population? Did you know that?

Home Price to Income Ratio (US & UK) - 73 Year Chart | Longtermtrends

Credit card debt is at an all-time high, putting households near 'breaking point,' study shows

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