Millennials making 250k can't afford house
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wrote on 16 Aug 2024, 12:34 last edited by
Ugh, I know the article is mostly clickbait, and probably completely fabricated, but it got me.
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wrote on 16 Aug 2024, 12:43 last edited by
I think maybe they can't get a house they WANT on 28% of take home pay. Go to Zillow and put in $30,000 down and a $3500 max mortgage payment. 881 results. And that doesn't even include Vancouver across the river.
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wrote on 16 Aug 2024, 12:44 last edited by
Started to say...They want a half-million dollar house.
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wrote on 16 Aug 2024, 12:48 last edited by Axtremus
A $250k annual household income should be able to afford a $500k house, unless you're already weighed down by other debts (student loans, luxury car, lots of credit card debts).
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wrote on 16 Aug 2024, 15:34 last edited by
Many millennials and younger have under-developed domestic skills. It takes a lot of savvy to buy groceries effectively and cook cost-effective meals - esp. with the price of grocery lately.
I'm not blaming them - it's not as emphasized as things like going to school, sports, extra-circulars, college, etc. But it took us years to understand how to use our groceries well.
Anyways all that to say - takes a lot of money to keep yourself fed these days.
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Many millennials and younger have under-developed domestic skills. It takes a lot of savvy to buy groceries effectively and cook cost-effective meals - esp. with the price of grocery lately.
I'm not blaming them - it's not as emphasized as things like going to school, sports, extra-circulars, college, etc. But it took us years to understand how to use our groceries well.
Anyways all that to say - takes a lot of money to keep yourself fed these days.
wrote on 16 Aug 2024, 15:45 last edited by@xenon said in Millennials making 250k can't afford house:
Many millennials and younger have under-developed domestic skills. It takes a lot of savvy to buy groceries effectively and cook cost-effective meals - esp. with the price of grocery lately.
I'm not blaming them - it's not as emphasized as things like going to school, sports, extra-circulars, college, etc. But it took us years to understand how to use our groceries well.
Anyways all that to say - takes a lot of money to keep yourself fed these days.
Mandatory home economics in high school. Mandatory.
Household budgeting, simple finance and investment, basic cooking skills, use of common hand tools, basic societal courtesy, how to write an email or letter and job seeking skills, along with some education on work ethic.
Just these simple things could make a difference of thousands of dollars per year.
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wrote on 16 Aug 2024, 16:01 last edited by
Another idea...
I've got a friend who insisted his children (3) start cooking the family's supper one night per week, starting in the sixth grade and ending when they left home to start their own lives.
A sixth grader may not know much more than how to boil a weenie or cook a frozen pizza, but you build from there. Next thing you know, you've got a kid who can cook breakfast foods. Then, they can grill hamburgers. Maybe make a spaghetti sauce.
By the time his kids were halfway through high school, they could cook just about anything mama and daddy could. And speaking from personal experience, mama and daddy could cook. Mike could make the best duck and dressing I've ever had, along with great soups, gumbos and gravies. His wife was a good cook, too.
Guess what? All three kids can hold their own in the kitchen.
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@xenon said in Millennials making 250k can't afford house:
Many millennials and younger have under-developed domestic skills. It takes a lot of savvy to buy groceries effectively and cook cost-effective meals - esp. with the price of grocery lately.
I'm not blaming them - it's not as emphasized as things like going to school, sports, extra-circulars, college, etc. But it took us years to understand how to use our groceries well.
Anyways all that to say - takes a lot of money to keep yourself fed these days.
Mandatory home economics in high school. Mandatory.
Household budgeting, simple finance and investment, basic cooking skills, use of common hand tools, basic societal courtesy, how to write an email or letter and job seeking skills, along with some education on work ethic.
Just these simple things could make a difference of thousands of dollars per year.
wrote on 16 Aug 2024, 16:08 last edited by@Jolly said in Millennials making 250k can't afford house:
Mandatory home economics in high school. Mandatory.
Household budgeting, simple finance and investment, basic cooking skills, use of common hand tools, basic societal courtesy, how to write an email or letter and job seeking skills, along with some education on work ethic.
Just these simple things could make a difference of thousands of dollars per year.
That is a good idea!
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@Jolly said in Millennials making 250k can't afford house:
Mandatory home economics in high school. Mandatory.
Household budgeting, simple finance and investment, basic cooking skills, use of common hand tools, basic societal courtesy, how to write an email or letter and job seeking skills, along with some education on work ethic.
Just these simple things could make a difference of thousands of dollars per year.
That is a good idea!
wrote on 16 Aug 2024, 16:11 last edited by@taiwan_girl said in Millennials making 250k can't afford house:
@Jolly said in Millennials making 250k can't afford house:
Mandatory home economics in high school. Mandatory.
Household budgeting, simple finance and investment, basic cooking skills, use of common hand tools, basic societal courtesy, how to write an email or letter and job seeking skills, along with some education on work ethic.
Just these simple things could make a difference of thousands of dollars per year.
That is a good idea!
Common sense.
It's what parents are responsible for and most no longer do.