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Off Topic Off Topic - General non-Corvette related discussion. |
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05-20-2024, 7:51am | #21 | ||||||
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05-20-2024, 8:08am | #22 | ||||||
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05-20-2024, 8:12am | #23 | ||||||
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I truly hope that my properties stay in my families hands for 100's of years!
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05-20-2024, 9:51am | #24 | ||||||
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05-20-2024, 9:56am | #25 | |||||||
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Since JAN 2021 almost no young people have bought their first homes due to the highest-ever mortgage rate market, which is fueled by the $35T National Debt AND the servicing at close to $1T/year to those holding the debt. These 9 million homes can be occupied by those who cannot afford payments at today's interest rates, and the high rates will continue even after TRUMP gets in, as we are TOO FAR GONE!! |
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05-20-2024, 10:01am | #26 | ||||||
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05-20-2024, 10:12am | #27 | |||||||
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05-20-2024, 10:14am | #28 | |||||||
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And we're not even close to the highest-ever mortgage rates. |
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05-20-2024, 10:19am | #29 | |||||||
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05-20-2024, 10:41am | #30 | ||||||
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You have to ask Phred about that. Apparently there is some kind of "fact" I am missing when I pointed out that NONE of the members of Congress were baby boomers when they voted to go to the "unified budget" that allowed the raiding of the Social Security overage for spending in the general fund.
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05-20-2024, 10:43am | #31 | ||||||
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There is no reason why anyone can not own a home.
Problem is, many think they are deserving of a 10 thousand sq ft custom in a gated community or a waterfront McMansion. And they want it NOW! My 1st Florida home was a crappy little 900 sq ft 2br 2ba cottage. Paid 65K and sold it for 85K. Took the profit and equity and moved up to a 3br 2ba 2car brick that I built myself... 30 years and 100 properties later, I can build whatever I want. It takes work and risk. Something many are not willing to do. |
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05-20-2024, 10:50am | #32 | |||||||
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Bought my dream home in So. Cal at 13% in the 80’s. Divorce killed that dream, but now livin’ the dream in Louisiana. It’s more peaceful here anyway. |
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05-20-2024, 10:51am | #33 | ||||||
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I know this is a joke, but the reality is that the voting age was 21 until 1971. The Congress sitting in 1968 was voted in at the latest November of 1966, when no boomers had reached their 21st birthday.
Let's check our facts shall we? 1. NONE of the Reps and Senators that voted for the unified budget were boomers. 2. NONE of the folks who voted for those Reps and Senators were boomers. 3. More than 40% of us boomers STILL have not reached our Normal Retirement Age. All attempts to blame boomers for the SS mess fail under the weight of obvious facts. |
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05-20-2024, 10:52am | #34 | |||||||
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https://www.thevettebarn.com/forums/...1&postcount=98 |
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05-20-2024, 10:56am | #35 | |||||||
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The crash in 2008-2009 happened with McDonalds workers getting loans for $500k McMansions as starter homes. The younger generations want their first house to be their last house and dream house all in one. Nothing has changed, except for the disappearance of work ethic which has been instead replaced with entitlement. 1. Work hard. 2. Live under your means to save money. 3. Don't marry a woman who needs saving. 4. You can now buy your home. |
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05-20-2024, 4:37pm | #36 | ||||||
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Wife and I have 3600 sq ft home on a 2500 acre, fresh water, sandy bottom lake across from Disney and have a wildlife show every day and Disney fireworks at night. We're 73 and 72 and you couldn't blow us out of the place with dynamite. Contrast that with some of the mega mansions going up around us and in Florida elsewhere that are, no kidding, 10,000 and 15,000 sq ft. My long time real estate agent pal has stated quite often that he has no idea who will be buying those monstrosities in the future. I think its a good question.
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05-20-2024, 4:53pm | #37 | ||||||
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05-20-2024, 5:04pm | #38 | ||||||
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Unless I win the lottery I will probably die in this place on the beach
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05-20-2024, 5:08pm | #39 | ||||||
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I didn't know until recently such homes are called "coffin houses"; e.g. you'll reside in them until carried out in a coffin. I heard it in a local Planning & Zoning meeting and had no clue about the morbid collegialism.
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05-20-2024, 6:00pm | #40 | |||||||
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The idea that boomers "holding on to their homes" is somehow hurting younger generations is idiotic. Of course I am holding onto my home, because it is paid for, and I have to live somewhere. If I leave this home, I'm going to some other home where I will pay cash for that. WTF else are my wife and I supposed to do now that we are both retired? We can't qualify for a new mortgage because neither of us have an outside income. Are we supposed to give up our home, and live on the street, because some "millennials" or "genZ" folks are having trouble buying their first house? I say that is bullshit, as our first mortgage was 8.75%, still more than average today, and our house cost about 4x our combined income at the time. Yeah, it was hard to make it work. Sorry, but I'm not sorry for young folks struggling to buy their first house. It has always been hard. |
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