IPHONES AND INTEREST RATES

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?

Acorn

4/16/23 2:37pm

Posting on CougarBoard