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Forum ยป Millenials Are A Trillion Dollars In Debt And Most Don't Even Own A Home
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Thread: Millenials Are A Trillion Dollars In Debt And Most Don't Even Own A Home

post 1575737341 03-13-2019, 02:48 PM
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#121
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Tfw graduated with no student loans because my dad wouldn't cosign and made me pay for my tuition with summer jobs
Tfw Canadian and entire degree cost 12k
Tfw saved 32k for a down payment in 2 years

Sorry Ameribros, I'm too busy in this 3rd world chit hole lolling at this!
post 1575737391 03-13-2019, 02:48 PM
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#122
  1. nvrstopworking
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Originally Posted By redliner9⏩
House prices are kind of a joke in some areas.

Like a 150K house suddenly is worth 210K a year later with no improvements what so ever.

Get real with this bs, pretty sure it all has to do with getting more taxes from home owners
Lulz. Try a $400K house is worth $750K in less than 5 years with no improvements.
post 1575737941 03-13-2019, 02:54 PM
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#123
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Some pretty dumb **** comments in this thread, everyone should spend responsibly and within their means but that doesnt mean you cant get upset at how tilted our gen has had it.

We had no gold rush or industrial revolutions to bolster an amazing economy.
What we have had though is multiple crashes and a large one in 08

Fun.
I watch die hard cause I have a massive crush on 80s and 90s Bruce Willis
post 1575738001 03-13-2019, 02:55 PM
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#124
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I'm really wondering about the housing bubble if/when it will burst again. I'm not sure it will in Canada, with the current model of immigration, and their tendency to put 5+ people in a house (importing relatives and home sharing) makes me want to buy one now, but as boomers die off who knows what will happen. Maybe it does break in 10 years and I get a dream home, or maybe I end up under water. Who knows?
post 1575738371 03-13-2019, 02:58 PM
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#125
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Originally Posted By arod204⏩
I'm really wondering about the housing bubble if/when it will burst again. I'm not sure it will in Canada, with the current model of immigration, and their tendency to put 5+ people in a house (importing relatives and home sharing) makes me want to buy one now, but as boomers die off who knows what will happen. Maybe it does break in 10 years and I get a dream home, or maybe I end up under water. Who knows?
My solution is to save up more annually than the growth of houses relative to what I plan on spending on one. Either:
a) i'll buy something super nice in 10 years
b) i'll buy something meh in 10 years

either way i'll have the deposit for the price range i'm looking at
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post 1575739171 03-13-2019, 03:10 PM
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#126
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Originally Posted By Weezy32⏩
Tuition rates have increased 300-400% because college is a scam... these ****ers learned that every job requires a college degree these days and the people are guaranteed to get financing so why charge normal prices when they can charge astronomical prices knowing people are almost forced to get it and the government will 100% give them loans to pay for it.

Its funny everyone was so mad at Martin Shkreli ( Pharma Bro ) raised the drug price by crazy amount but colleges across the country did the same thing and nobody gives a ****.....why because unlimited loans that have no requirements to obtain.
i dont have any sympathy for millenials being under debt. nobody forced them to go to an over-priced college to major in something useless and go into debt to party their asses off.

i do agree that tuition rates increasing are a scam and colleges are to blame. you would think that general education classes would be cheaper since everyone has to take them; instead it's the same price as all of the other undergrad courses. i really hope the govt clamps down on student loans and these for profit colleges (all colleges are for profit) go under.
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post 1575739271 03-13-2019, 03:10 PM
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#127
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Originally Posted By arod204⏩
I'm really wondering about the housing bubble if/when it will burst again. I'm not sure it will in Canada, with the current model of immigration, and their tendency to put 5+ people in a house (importing relatives and home sharing) makes me want to buy one now, but as boomers die off who knows what will happen. Maybe it does break in 10 years and I get a dream home, or maybe I end up under water. Who knows?
There are more than enough wealthy Chinese and Indians to buy up all their places. Srs
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post 1575739381 03-13-2019, 03:11 PM
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#128
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that's bcuz YOLO!

brb low wage job but still buy new phone every year. brb buy 15k cars minimum. brb party every weekend. brb xbox + highest speed internet on 50inch screen. brb eat out everyday
post 1575739541 03-13-2019, 03:13 PM
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#129
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they have dubstep too though, so tradeoffs
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post 1575743301 03-13-2019, 04:00 PM
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#130
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Originally Posted By montiii⏩
Some pretty dumb **** comments in this thread, everyone should spend responsibly and within their means but that doesnt mean you cant get upset at how tilted our gen has had it.

We had no gold rush or industrial revolutions to bolster an amazing economy.
What we have had though is multiple crashes and a large one in 08

Fun.
Yeah we definitely didn't have the tech boom since the 90s. Not like you can go get any type of computer science or tech degree and make great money. I never see people who went into useful degrees complaining about their financial situation. Nor my friends that didn't go to college period. I have friends working in the nightlife industry pulling 70k+ just as managers who worked their way up from servers and bartenders.
Rep trading taken out of sig
post 1575743661 03-13-2019, 04:05 PM
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#131
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Originally Posted By Anachron⏩
You must have failed geography in public school. Toronto and Vancouver are not the only cities in Canada. No one said anything about "rural Ontario ". Jobs at the 80K level are not exclusive to Toronto.

Can't afford Toronto? Time to re-evaluate your life choices, brah.
You must dodge women like you dodge questions thanks for coming out *******
post 1575746371 03-13-2019, 04:33 PM
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#132
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I have $475,000 of that debt.

I was over $500,000 a year ago hoping to get back there asap, shooting for $750,000 by 2022


(100% srs)
post 1575746441 03-13-2019, 04:34 PM
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#133
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As a millenial, I don't know anyone in my age range that owns their own home. At my old job where everyone made at least $60k a year, everyone there either had their own home or was renting. But $60k a year jobs are very hard to come by.
post 1575748211 03-13-2019, 04:54 PM
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#134
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College educated and 0 debt crew.
post 1575748541 03-13-2019, 04:59 PM
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#135
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Maybe they should stop traveling so much


I don't own my own home, but I also don't have any debt. And I spent 9 years at university getting 2 bachelors, 1 master, and 1 phd.

During all that time I managed to only accumulate a very small amount of debt which was paid off within a year of finishing school.

If you have such exorbitant amounts of debt you have no one to blame but yourself. It's not your right to go to college f*cking around care free for 4 years while the government pays for it.

They already paid for you to f*ck around for 18 years until you became a legal adult. Now everyone wants that extended another 4 years... just lmao. What's next med school completely free (with everyone accepted of course... don't want anyone to feel bad about themselves or not have a chance in life).
"One day I won't be able to lift any more. Not I won't want to lift. I mean physically unable. That day could be decades from now or it could be tomorrow. All I know is that's the day I'll wish I could lift more than ever. The day I'd give anything for one more workout, one more set, or one more cardio session. So go hard and enjoy every workout, every set, every rep. Because one day you will wake up and you will never get it back."
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post 1575749271 03-13-2019, 05:07 PM
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#136
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Boomers

post 1575749491 03-13-2019, 05:11 PM
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#137
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Originally Posted By messomi⏩
you mean they inherited the debt from the previous generation lol.
Thats not what the article stated, Tim
post 1575755381 03-13-2019, 06:40 PM
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#138
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Originally Posted By montiii⏩
Some pretty dumb **** comments in this thread, everyone should spend responsibly and within their means but that doesnt mean you cant get upset at how tilted our gen has had it.

We had no gold rush or industrial revolutions to bolster an amazing economy.
What we have had though is multiple crashes and a large one in 08

Fun.
Um.... the internet boom....?
post 1575760341 03-13-2019, 07:53 PM
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#139
  1. Destor
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House prices were low for baby boomers, but lets not forget that interest rates spiked up to 20% at times from the 1970s to 90s. My parents didn't buy a house until 1997, but that's not to say their situation was the norm

On the flip side, interest rates were running at <1% from 2009-2016/7 but house prices have skyrocketed.

A 20-year $100,000 mortgage @ 15% would cost you $316,029 total.

A 20-year $300,000 mortgage @ 3% would cost you $399,000 total. And that doesn't consider inflation on the original $100k mortgage
post 1575761621 03-13-2019, 08:13 PM
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#140
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Originally Posted By knightofday⏩
When the boomer wave starts to pass away, there will be a massive flood of properties on the market. Prices will adjust and probably come down. Thats when I plan on buying. Just my opinion
lol.
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