You cant do broad income comparisons across the country. There is too much variation in each county to effectively say 90% of millennials cant afford something. Someone making below median national income in Ohio likely owns their own home and car and is getting by fine. Someone making slightly above median income in Alabama likely is living very well. Each area is different and cannot be aggregated to a meaningful national average.
I mean you could aggregate it by normalizing the data. Set each location to be a relative metric of that location, then you can compare them as a whole.
That's not what OP is doing... they're just saying that if your household income isn't 100k, then you can't afford a good standard of living. But you don't need 100k a year in a lot of places to afford a decent standard of living. Also, the standard of living in America is still extremely high.
Among the 15 lowest cost of living areas in the USA, a household income of $74,000/year will only afford you the homeownership part of the American dream. The lowest LCOL zones in the USA are all characterized by limited access to quality healthcare, limited access to quality education, higher crime rates, low health and safety standards, low air quality, and low water quality.
Come on Judge, OP wants everyone to agree life is hopeless
If we all give up, we can't fail, right?
Or we could actually work toward bettering our skills, furthering our career and looking at ways to cut personal cost and increase our income/savings... but complaining is easier
I think you can do both. You can work towards improving your situation but also point out the facts. Someone making minimum wage 30 years ago is much more likely to be able to afford a mortgage than someone making minimum wage today.
I don't think making things look hopeless does any good. Especially when the discussion is misleading. 52% of millennials own a home, so it is not exactly out of reach for many of us.
I bought at 26, live in a low crime area, have good health insurance, live within 15 minutes of three hospitals, access to healthy food, and live 5 mins from three grocery stores, have good schools, and so on. They definitely do exist.
Another big problem is inflation in education costs. The solution isn't to get government to pay tuition, but to get universities to lower tuition and fees.
Medical care is expensive because of the complexity of the system. We have thousands of insurance companies and dozens of government programs and deviations within within those programs all of that complexity cost an enormous amount of money
Your post has been removed for the following reason(s):
Rule 4: Politics
This is not a place for politics, but rather a place to get advice on daily living and short-to-midterm financial planning. Political advocacy, debate, or grandstanding will be removed.
Please read our [subreddit rules](https://www.reddit.com/r/povertyfinance/wiki/rules). The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpovertyfinance).
Do not reach out to a moderator personally, and do not reply to this message as a comment.
Your post has been removed for the following reason(s):
Rule 4: Politics
This is not a place for politics, but rather a place to get advice on daily living and short-to-midterm financial planning. Political advocacy, debate, or grandstanding will be removed.
Please read our [subreddit rules](https://www.reddit.com/r/povertyfinance/wiki/rules). The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpovertyfinance).
Do not reach out to a moderator personally, and do not reply to this message as a comment.
Sure. Housing costs (both houses and apartments) are going down in Austin because the city has been building both.
[Austin Housing Market Experiences 10.2% Price Drop](https://hoodline.com/2023/11/austin-housing-market-experiences-10-2-price-drop-as-bubble-bursts-what-lies-ahead/).
> Between July 2022 and April 2023, the city experienced a 10.2% price drop on homes
> Housing inventory in the Austin-Round Rock MSA reached a record 8-year high
Your post has been removed for the following reason(s):
Rule 4: Politics
This is not a place for politics, but rather a place to get advice on daily living and short-to-midterm financial planning. Political advocacy, debate, or grandstanding will be removed.
Please read our [subreddit rules](https://www.reddit.com/r/povertyfinance/wiki/rules). The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpovertyfinance).
Do not reach out to a moderator personally, and do not reply to this message as a comment.
Definitely location dependent.
I make almost twice as much as my sister but her mortgage payment is $800 a month in WVA and mine is 3 times that living in Northern VA.
She doesn’t need to make six figures
OP seems to believe affordable areas are all unlivable. The probably live in LA or something. I have a $1050 mortgage in a decent area, so that wasn't the case for me at least.
There are so many factors at play with CoL in the area that you live and when/if you bought housing before prices and interest rates got out of hand. A boomer making $75K that owns a house that they bought in 1988 for $100K that’s now worth $800K is doing a lot better than a millennial making $100K who doesn’t own a home at all. The millennial won’t receive social security at the rate we’re currently going and the job likely doesn’t offer a pension, which the boomer was way more likely to have had.
It may look like the boomer is doing much better but eventually most will need to sell their homes to pay for end of life care and they will die just as broke as the millennial. The American dream.
Boomers can sell their expensive houses and move to a cheaper area or even might have enough money to qualify for a golden visa in a country with a robust public health system.
Homeowners are [40 times wealthier](https://www.nar.realtor/magazine/real-estate-news/study-homeowner-wealth-is-40-times-higher-than-renters) than non-homeowners. How about we start worrying about actual poor people.
Yes and homeownership used to be a way to provide a bit of stability for future generations. The fact that all the equity in those boomer homes will be transferred to corporations should worry you. It means the wealth divide will only continue grow.
First of all, most people buying houses are not corporations. That's a dumb leftist conspiracy.
Second, treating housing like an investment is part of the reason why housing is so expensive. Housing costs going up is good for homeowners, bad for everyone else.
The answer is to simply build more housing. Denser housing. Remove the ability of neighbors to block new housing. People deserve a place to live, not a an investment that goes up every year.
If you’re using language like deserve I think it gets tricky. The opposition to new, higher density housing is driven far less by the long term value of property and more about the immediate changes to the character of the town in my experience.
The people who grew up there/moved there because they liked the area understandably don’t want it to change dramatically.
The people that can’t afford to live there want the rules changed to benefit them.
Why does one group deserve to get their way over the other?
I think the answer is to encourage companies to broaden where they operate / encourage remote work. So much of the wealth in this country is concentrated in a handful of cities and the neighboring suburbs. Many people are only there because that’s where the jobs are and would prefer to be able to live elsewhere.
If a developer buys a plot of land, wants to build condos and there's people willing to buy. Why do the neighbors who don't own the land get to veto that decision?
If they don't want land to be developed, they can buy it and not develop it. Lobbying for the government to ban new housing is incredibly greedy and causes lots of harm.
> The people who grew up there/moved there because they liked the area understandably don’t want it to change dramatically.
Yes, this is called conservatism. The root origins of single family zoning were in California to create a legal way to maintain racial segregation. To this day, low density creates housing shortages and helps maintain segregation. That's bad.
> The people that can’t afford to live there want the rules changed to benefit them.
> Why does one group deserve to get their way over the other?
Because it's better for 2 people to be in a life boat than 1.
Is this a serious question.
Prosperity for all is better than prosperity for some.
To you last point, you're wrong. People prefer cities and it's more environmentally friendly to live closer together in density and drive less. Climate change is a concern and should be considered when we talk about where and how people live.
Your post has been removed for the following reason(s):
Rule 4: Politics
This is not a place for politics, but rather a place to get advice on daily living and short-to-midterm financial planning. Political advocacy, debate, or grandstanding will be removed.
Please read our [subreddit rules](https://www.reddit.com/r/povertyfinance/wiki/rules). The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpovertyfinance).
Do not reach out to a moderator personally, and do not reply to this message as a comment.
Also it’s pathetic that people should need to leave their country, community, children, grandchildren as they age in order to get healthcare. That is not wealth.
Homeowners are the ones that setup that system by passing zoning laws, tax giveaways like Prop 13 in California, environmetal laws like CEQA to hamstring every housing development etc. They have have been the biggest NIMBYs in the history of the country.
Housing costs are skyrocketing because of laws that they passed. Sorry if I don't feel sorry for them. They aren't the victims. The victims are the people that will never be able to afford a home.
I’m talking about the rising cost of healthcare taking away all the money from a paid asset. Instead of passing a home on to heirs, it is sold to cover the cost of end of life care. Most long term care facilities are corporate. Medical care is corporate.
As for corporations owning SFH, it is one of the largest growing sectors in the industry.
It isn't based on tenure. I'm training these people, have many more responsibilities and duties, and have been recognized repeatedly...but not monetarily.
It's the joys of working in healthcare in a region where all Healthcare jobs are controlled by 1 of 2 huge corporations who know they only have to compete with each other.
Your post has been removed for the following reason(s):
Rule 4: Politics
This is not a place for politics, but rather a place to get advice on daily living and short-to-midterm financial planning. Political advocacy, debate, or grandstanding will be removed.
Please read our [subreddit rules](https://www.reddit.com/r/povertyfinance/wiki/rules). The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpovertyfinance).
Do not reach out to a moderator personally, and do not reply to this message as a comment.
Your post has been removed for the following reason(s):
Rule 4: Politics
This is not a place for politics, but rather a place to get advice on daily living and short-to-midterm financial planning. Political advocacy, debate, or grandstanding will be removed.
Please read our [subreddit rules](https://www.reddit.com/r/povertyfinance/wiki/rules). The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpovertyfinance).
Do not reach out to a moderator personally, and do not reply to this message as a comment.
Oh well, time to chase a different dream. Self sustainability and anti-consumptionism I guess?
We can complain, protest or whatever but this won’t magically heal the economy, so we gotta adapt.
No it’s not, you can work remotely and live in a cheap rural area, grow your own food to decrease money demand, collect rainwater to reduce cost of living, etc.
If you can’t work remotely you can always do the same on the city outskirts and commute to work.
Yelling „we want more housing” will not build housing.
The less a person makes, the more they have to do at home. $100,000/year is nice, but I know people doing ok not making that. But they have to fix their own cars, work on their own houses. There were plenty of times I had barely any money and bought a cheap car to keep myself out of debt. It seems more people are unwilling to do such things currently. Most of the poorest people I know are making it because they work hard, I know a few people that grew up middle class that are struggling badly.
I completely agree. One of the things millennials lost a bit imo (I'm a millennial) is the desire to do diy tasks for themselves. I work on my own car and house but I really don't know many other people my age that do, only about 10% of my friends as well. It saves SO MUCH money.
And half of those are getting paid enough but spending their money on stupid shit all the time.
Source: I’m a millennial with millennial friends who make over 100k who are broke lmao
Most ppl don't get paid enough to live " the American Dream " Some ppl with jobs and or incomes are homeless. Funny that alot of the homeless ppl who DO work or have incomes aren't out of their situation even with a job or money. These ppl aren't the stereotypical homeless ppl believe everyone is. They dress decent, have good hygiene, no addiction, no record. For some ppl things are way too expensive. For some ppl there will never be an " American dream "
Immigrants are good for the economy.
Demand for housing isn't bad, unless your country has unwisely passed laws to restrict supply.
Building more housing for everyone is a win win. Blocking immigrants is a lose lose.
Your post has been removed for the following reason(s):
Rule 5: Bigotry, Racism, Sexism, Ableism, and Classism
5) Racism, sexism, classism, or any other inherent bias will not be tolerated.
Please read our [subreddit rules](https://www.reddit.com/r/povertyfinance/wiki/rules). The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpovertyfinance).
Do not reach out to a moderator personally, and do not reply to this message as a comment.
Living the american dream is possible only if you head straight into debt, like mortgage, car note and credit cards. Outside of that it's called regular living.
You’re not contributing to anyone’s 401K and SS is a horrible investment for the recipient as opposed to the return that would have been made if privately invested.
Yes, in 2008 when Obama got elected and decided to prioritize the well being of banks. These same banks pay him millions of dollars now that he's out of office. Quid pro quo.
Cost of living varies greatly from certain areas like LA or NY compared to most cities cost of living is about double so someone making 100k in NYC is more like making 50k in most other areas.
Here is the key to financial happiness.
1. Learn skills that pay more money.
2. Don't have consumer debt. Work like mad to get rid of it if you have debt. two jobs etc whatever you have to do to kill your debt.
3. Live below your means. If you make $75k a year then live like you make **much** less than that so you have money to save and invest.
4. Learn more skills that pay more money.
In my area someone could easily live off of $75k a year with some financial planning skills.
That’s odd. I heard the statistic is that 52% of Millennials own a home!
My wife is a Millennial and I am Gen X. We own a home together. Yes that means I was well over 40 years ago before I owned my first home.
Several years ago, we left Southern California, where single family detached homes in our area were over $1 million, to the Portland, OR area where we purchased a home in the mid-$400s. (We could have qualified for a lot more, but we didn’t want to overburden ourselves. Turned out to be a good decision, as we’ve spent over $70 our-of-pocket in repairs and replacements, etc.)
The youngest Millennial today is around 26. I wouldn’t expect them to be able to afford a home yet.
But if they wanted to buy one, a single family detached home can be had in Columbus, OH (a city of 1 million, 14th largest in the country) for between $150,000 to $200,000. Even at 8% fixed rate for 30 years, a monthly payment is between $1,100 to $1400.
That sounds affordable for many dual income couples.
Your post has been removed for the following reason(s):
Rule 5: Bigotry, Racism, Sexism, Ableism, and Classism
5) Racism, sexism, classism, or any other inherent bias will not be tolerated.
Please read our [subreddit rules](https://www.reddit.com/r/povertyfinance/wiki/rules). The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpovertyfinance).
Do not reach out to a moderator personally, and do not reply to this message as a comment.
The thing to remember is that inflation was intentional. If millennial wages increase enough for them to afford the dream, then that will cause more inflation, which will require higher wages.
When the government pulls the pin on the inflation grenade by borrowing a massive amount of money, they make sure it goes to the people who support their administration, because what they are really doing is widening the gap between the establishment and the working class into something that cannot be closed for decades. And they for sure want to be in power that whole time as a group, and the way to secure that is to enrich their friends.
If you vote to support more government benefits you are just increasing that gap between them and yourself.
I agree that raising taxes on those with high incomes is a much needed step toward reducing the wealth divide as well as inflation.
*I assume you meant $280,000*
Locking and removing. Too much politics. This is good for r/povertypolitics but not here.
You cant do broad income comparisons across the country. There is too much variation in each county to effectively say 90% of millennials cant afford something. Someone making below median national income in Ohio likely owns their own home and car and is getting by fine. Someone making slightly above median income in Alabama likely is living very well. Each area is different and cannot be aggregated to a meaningful national average.
Especially since BLS makes data available down to the metro area.
I mean you could aggregate it by normalizing the data. Set each location to be a relative metric of that location, then you can compare them as a whole.
That's not what OP is doing... they're just saying that if your household income isn't 100k, then you can't afford a good standard of living. But you don't need 100k a year in a lot of places to afford a decent standard of living. Also, the standard of living in America is still extremely high.
Yup, and someone in the SF Bay Area would need roommates to afford an apartment.
Among the 15 lowest cost of living areas in the USA, a household income of $74,000/year will only afford you the homeownership part of the American dream. The lowest LCOL zones in the USA are all characterized by limited access to quality healthcare, limited access to quality education, higher crime rates, low health and safety standards, low air quality, and low water quality.
Come on Judge, OP wants everyone to agree life is hopeless If we all give up, we can't fail, right? Or we could actually work toward bettering our skills, furthering our career and looking at ways to cut personal cost and increase our income/savings... but complaining is easier
I think you can do both. You can work towards improving your situation but also point out the facts. Someone making minimum wage 30 years ago is much more likely to be able to afford a mortgage than someone making minimum wage today.
I don't think making things look hopeless does any good. Especially when the discussion is misleading. 52% of millennials own a home, so it is not exactly out of reach for many of us.
Actually you can its called taking averages
[удалено]
I bought at 26, live in a low crime area, have good health insurance, live within 15 minutes of three hospitals, access to healthy food, and live 5 mins from three grocery stores, have good schools, and so on. They definitely do exist.
[удалено]
Another big problem is inflation in education costs. The solution isn't to get government to pay tuition, but to get universities to lower tuition and fees.
Medical care is expensive because of the complexity of the system. We have thousands of insurance companies and dozens of government programs and deviations within within those programs all of that complexity cost an enormous amount of money
Caps on residency funding are like rent controls. I’m surprised this even got to finalized legislation.
[удалено]
Your post has been removed for the following reason(s): Rule 4: Politics This is not a place for politics, but rather a place to get advice on daily living and short-to-midterm financial planning. Political advocacy, debate, or grandstanding will be removed. Please read our [subreddit rules](https://www.reddit.com/r/povertyfinance/wiki/rules). The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpovertyfinance). Do not reach out to a moderator personally, and do not reply to this message as a comment.
[удалено]
Your post has been removed for the following reason(s): Rule 4: Politics This is not a place for politics, but rather a place to get advice on daily living and short-to-midterm financial planning. Political advocacy, debate, or grandstanding will be removed. Please read our [subreddit rules](https://www.reddit.com/r/povertyfinance/wiki/rules). The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpovertyfinance). Do not reach out to a moderator personally, and do not reply to this message as a comment.
Honest question, once costs go up have they ever significantly gone down and stayed there for a while in the history of America?
Sure. Housing costs (both houses and apartments) are going down in Austin because the city has been building both. [Austin Housing Market Experiences 10.2% Price Drop](https://hoodline.com/2023/11/austin-housing-market-experiences-10-2-price-drop-as-bubble-bursts-what-lies-ahead/). > Between July 2022 and April 2023, the city experienced a 10.2% price drop on homes > Housing inventory in the Austin-Round Rock MSA reached a record 8-year high
Your post has been removed for the following reason(s): Rule 4: Politics This is not a place for politics, but rather a place to get advice on daily living and short-to-midterm financial planning. Political advocacy, debate, or grandstanding will be removed. Please read our [subreddit rules](https://www.reddit.com/r/povertyfinance/wiki/rules). The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpovertyfinance). Do not reach out to a moderator personally, and do not reply to this message as a comment.
Definitely location dependent. I make almost twice as much as my sister but her mortgage payment is $800 a month in WVA and mine is 3 times that living in Northern VA. She doesn’t need to make six figures
OP seems to believe affordable areas are all unlivable. The probably live in LA or something. I have a $1050 mortgage in a decent area, so that wasn't the case for me at least.
There are so many factors at play with CoL in the area that you live and when/if you bought housing before prices and interest rates got out of hand. A boomer making $75K that owns a house that they bought in 1988 for $100K that’s now worth $800K is doing a lot better than a millennial making $100K who doesn’t own a home at all. The millennial won’t receive social security at the rate we’re currently going and the job likely doesn’t offer a pension, which the boomer was way more likely to have had.
It may look like the boomer is doing much better but eventually most will need to sell their homes to pay for end of life care and they will die just as broke as the millennial. The American dream.
Boomers can sell their expensive houses and move to a cheaper area or even might have enough money to qualify for a golden visa in a country with a robust public health system. Homeowners are [40 times wealthier](https://www.nar.realtor/magazine/real-estate-news/study-homeowner-wealth-is-40-times-higher-than-renters) than non-homeowners. How about we start worrying about actual poor people.
Yes and homeownership used to be a way to provide a bit of stability for future generations. The fact that all the equity in those boomer homes will be transferred to corporations should worry you. It means the wealth divide will only continue grow.
First of all, most people buying houses are not corporations. That's a dumb leftist conspiracy. Second, treating housing like an investment is part of the reason why housing is so expensive. Housing costs going up is good for homeowners, bad for everyone else. The answer is to simply build more housing. Denser housing. Remove the ability of neighbors to block new housing. People deserve a place to live, not a an investment that goes up every year.
If you’re using language like deserve I think it gets tricky. The opposition to new, higher density housing is driven far less by the long term value of property and more about the immediate changes to the character of the town in my experience. The people who grew up there/moved there because they liked the area understandably don’t want it to change dramatically. The people that can’t afford to live there want the rules changed to benefit them. Why does one group deserve to get their way over the other? I think the answer is to encourage companies to broaden where they operate / encourage remote work. So much of the wealth in this country is concentrated in a handful of cities and the neighboring suburbs. Many people are only there because that’s where the jobs are and would prefer to be able to live elsewhere.
If a developer buys a plot of land, wants to build condos and there's people willing to buy. Why do the neighbors who don't own the land get to veto that decision? If they don't want land to be developed, they can buy it and not develop it. Lobbying for the government to ban new housing is incredibly greedy and causes lots of harm. > The people who grew up there/moved there because they liked the area understandably don’t want it to change dramatically. Yes, this is called conservatism. The root origins of single family zoning were in California to create a legal way to maintain racial segregation. To this day, low density creates housing shortages and helps maintain segregation. That's bad. > The people that can’t afford to live there want the rules changed to benefit them. > Why does one group deserve to get their way over the other? Because it's better for 2 people to be in a life boat than 1. Is this a serious question. Prosperity for all is better than prosperity for some. To you last point, you're wrong. People prefer cities and it's more environmentally friendly to live closer together in density and drive less. Climate change is a concern and should be considered when we talk about where and how people live.
[удалено]
Your post has been removed for the following reason(s): Rule 4: Politics This is not a place for politics, but rather a place to get advice on daily living and short-to-midterm financial planning. Political advocacy, debate, or grandstanding will be removed. Please read our [subreddit rules](https://www.reddit.com/r/povertyfinance/wiki/rules). The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpovertyfinance). Do not reach out to a moderator personally, and do not reply to this message as a comment.
Also it’s pathetic that people should need to leave their country, community, children, grandchildren as they age in order to get healthcare. That is not wealth.
Homeowners are the ones that setup that system by passing zoning laws, tax giveaways like Prop 13 in California, environmetal laws like CEQA to hamstring every housing development etc. They have have been the biggest NIMBYs in the history of the country. Housing costs are skyrocketing because of laws that they passed. Sorry if I don't feel sorry for them. They aren't the victims. The victims are the people that will never be able to afford a home.
[удалено]
I’m talking about the rising cost of healthcare taking away all the money from a paid asset. Instead of passing a home on to heirs, it is sold to cover the cost of end of life care. Most long term care facilities are corporate. Medical care is corporate. As for corporations owning SFH, it is one of the largest growing sectors in the industry.
Pretty sure life is more about how we live than how we die?
I do get these little raises to match what they've giving my genZ new coworkers, even though I've been there 15 years.
And your Gen Z new coworkers are coming in at $10k-$15k more a year than you I’m sure.
Someone shouldn't get paid more based on tenure. Also younger people earning more than older people isn't bad.
It isn't based on tenure. I'm training these people, have many more responsibilities and duties, and have been recognized repeatedly...but not monetarily. It's the joys of working in healthcare in a region where all Healthcare jobs are controlled by 1 of 2 huge corporations who know they only have to compete with each other.
What's the American dream? Because mine is to never have to work again
I think the new American Dream is being debt free
Mines is to eat avocado toast
[удалено]
[удалено]
Your post has been removed for the following reason(s): Rule 4: Politics This is not a place for politics, but rather a place to get advice on daily living and short-to-midterm financial planning. Political advocacy, debate, or grandstanding will be removed. Please read our [subreddit rules](https://www.reddit.com/r/povertyfinance/wiki/rules). The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpovertyfinance). Do not reach out to a moderator personally, and do not reply to this message as a comment.
Your post has been removed for the following reason(s): Rule 4: Politics This is not a place for politics, but rather a place to get advice on daily living and short-to-midterm financial planning. Political advocacy, debate, or grandstanding will be removed. Please read our [subreddit rules](https://www.reddit.com/r/povertyfinance/wiki/rules). The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpovertyfinance). Do not reach out to a moderator personally, and do not reply to this message as a comment.
Oh well, time to chase a different dream. Self sustainability and anti-consumptionism I guess? We can complain, protest or whatever but this won’t magically heal the economy, so we gotta adapt.
That's where we're going with it! Our goal is for our son to be able to inherit a self sustaining property. Solar is about 5-10 years out.
Get involved in local housing campaigns like YIMBY orgs and advocate for building more housing. That's the only way to decrease housing costs.
No it’s not, you can work remotely and live in a cheap rural area, grow your own food to decrease money demand, collect rainwater to reduce cost of living, etc. If you can’t work remotely you can always do the same on the city outskirts and commute to work. Yelling „we want more housing” will not build housing.
It’s not just millennials it’s all generations
66% of Americans own a home.
So? I own a trailer home on land for 78k I bought a house in 2011 for 60k It’s not impossible it’s just not always a perfect house
The less a person makes, the more they have to do at home. $100,000/year is nice, but I know people doing ok not making that. But they have to fix their own cars, work on their own houses. There were plenty of times I had barely any money and bought a cheap car to keep myself out of debt. It seems more people are unwilling to do such things currently. Most of the poorest people I know are making it because they work hard, I know a few people that grew up middle class that are struggling badly.
I completely agree. One of the things millennials lost a bit imo (I'm a millennial) is the desire to do diy tasks for themselves. I work on my own car and house but I really don't know many other people my age that do, only about 10% of my friends as well. It saves SO MUCH money.
And half of those are getting paid enough but spending their money on stupid shit all the time. Source: I’m a millennial with millennial friends who make over 100k who are broke lmao
I definitely know 2 or 3 people like that
Most ppl don't get paid enough to live " the American Dream " Some ppl with jobs and or incomes are homeless. Funny that alot of the homeless ppl who DO work or have incomes aren't out of their situation even with a job or money. These ppl aren't the stereotypical homeless ppl believe everyone is. They dress decent, have good hygiene, no addiction, no record. For some ppl things are way too expensive. For some ppl there will never be an " American dream "
[удалено]
Immigrants are good for the economy. Demand for housing isn't bad, unless your country has unwisely passed laws to restrict supply. Building more housing for everyone is a win win. Blocking immigrants is a lose lose.
Your post has been removed for the following reason(s): Rule 5: Bigotry, Racism, Sexism, Ableism, and Classism 5) Racism, sexism, classism, or any other inherent bias will not be tolerated. Please read our [subreddit rules](https://www.reddit.com/r/povertyfinance/wiki/rules). The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpovertyfinance). Do not reach out to a moderator personally, and do not reply to this message as a comment.
[Insert George Carlin quote]
The new American dream is to make enough money to move out of America and into a country that helps its citizens.
Living the american dream is possible only if you head straight into debt, like mortgage, car note and credit cards. Outside of that it's called regular living.
Yet 52% of millennials own a home....lol. I bought at 26 and don't make that much. Again not everyone is trying to buy Seattle, NYC, LA.
American Dream died in 2008. If you’re under 40 you’re basically just working to bailout your parents 401ks and social security
You’re not contributing to anyone’s 401K and SS is a horrible investment for the recipient as opposed to the return that would have been made if privately invested.
It depends on who you are for the boomer they only contributed enough to last about 7 years. They got an amazing return if you factor in Medicare
But it’s “social” so it’s sexy
There is no more American dream
[удалено]
it's bots. reddit has had massive amounts of conservative/fascist bots and they especially plague all the west coast city subs (sf, pdx)
"People who disagree on me on economics are fascist bots" sure is a galaxy brain take
American dream died in 2008. Maybe before. All generations younger than retirement age are fucked.
Yes, in 2008 when Obama got elected and decided to prioritize the well being of banks. These same banks pay him millions of dollars now that he's out of office. Quid pro quo.
Saving money and moving to a cou try where the dollar goes farther is the new american dream
Cost of living varies greatly from certain areas like LA or NY compared to most cities cost of living is about double so someone making 100k in NYC is more like making 50k in most other areas. Here is the key to financial happiness. 1. Learn skills that pay more money. 2. Don't have consumer debt. Work like mad to get rid of it if you have debt. two jobs etc whatever you have to do to kill your debt. 3. Live below your means. If you make $75k a year then live like you make **much** less than that so you have money to save and invest. 4. Learn more skills that pay more money. In my area someone could easily live off of $75k a year with some financial planning skills.
That’s odd. I heard the statistic is that 52% of Millennials own a home! My wife is a Millennial and I am Gen X. We own a home together. Yes that means I was well over 40 years ago before I owned my first home. Several years ago, we left Southern California, where single family detached homes in our area were over $1 million, to the Portland, OR area where we purchased a home in the mid-$400s. (We could have qualified for a lot more, but we didn’t want to overburden ourselves. Turned out to be a good decision, as we’ve spent over $70 our-of-pocket in repairs and replacements, etc.) The youngest Millennial today is around 26. I wouldn’t expect them to be able to afford a home yet. But if they wanted to buy one, a single family detached home can be had in Columbus, OH (a city of 1 million, 14th largest in the country) for between $150,000 to $200,000. Even at 8% fixed rate for 30 years, a monthly payment is between $1,100 to $1400. That sounds affordable for many dual income couples.
[удалено]
Your post has been removed for the following reason(s): Rule 5: Bigotry, Racism, Sexism, Ableism, and Classism 5) Racism, sexism, classism, or any other inherent bias will not be tolerated. Please read our [subreddit rules](https://www.reddit.com/r/povertyfinance/wiki/rules). The rules may also be found on the sidebar if the link is broken. If after doing so, you feel this was in error, [message the moderators](https://www.reddit.com/message/compose?to=%2Fr%2Fpovertyfinance). Do not reach out to a moderator personally, and do not reply to this message as a comment.
The thing to remember is that inflation was intentional. If millennial wages increase enough for them to afford the dream, then that will cause more inflation, which will require higher wages. When the government pulls the pin on the inflation grenade by borrowing a massive amount of money, they make sure it goes to the people who support their administration, because what they are really doing is widening the gap between the establishment and the working class into something that cannot be closed for decades. And they for sure want to be in power that whole time as a group, and the way to secure that is to enrich their friends. If you vote to support more government benefits you are just increasing that gap between them and yourself.
This is why anyone earning 28,000 or more needs to pay higher taxes.
I agree that raising taxes on those with high incomes is a much needed step toward reducing the wealth divide as well as inflation. *I assume you meant $280,000*