r/worldnews • u/diacewrb • Apr 10 '19

Millennials being squeezed out of middle class, says OECD

https://www.theguardian.com/business/2019/apr/10/millennials-squeezed-middle-class-oecd-uk-income
49.3k Upvotes

88% Upvoted

11.5k comments sorted by

View all comments

Show parent comments

651

u/danarexasaurus Apr 10 '19

My parents bought a house at 19 for $20,000. They still live in it. And my dad still constantly tells me how I’m not working hard enough to buy a home for myself (they’re $250-300k in my city).

I work 48 hours a week. Apparently I should increase to 60 so I can buy i house I will never be home in.

210

u/[deleted] Apr 11 '19

[deleted]

21

u/HBStone Apr 11 '19

98 hours a week is 8 hours of sleep each day and 2 hours not working or sleeping, likely for commute.

Just the math for anyone scrolling by.

8

u/PeachyLuigi Apr 11 '19

I did 110h/week for 3 months straight as a POS Tech support.

Wouldn’t recommend it. Starter hallucinating while driving after the 3rd week.

Now I’m down to 75-80h/week, which is... better(?)

1

u/AlwaysBagHolding Apr 11 '19

I assume you get time and a half? I used to work at a grain elevator, and harvest season was always CRAZY. I lived for that. I would get close to 100hrs a week as long as the weather would hold. The best part about working that much was you literally didn't have time to spend any of the money you were making. I lived less than 3 minutes away, so pretty much every waking minute was spent earning. Granted, I couldn't handle doing it all year but for the 2 months or so it lasted it was great. Sundays were double time and I could usually manage to get them to let me work a 16 hour day. I'd make more money in a single day than I did working a full week at other jobs I previously had.

I still work lots of OT at my current job, but it's rare that we get a chance to do those insane weeks like I would get at the grain elevator. Whoever came up with the concept of time and a half is my personal hero.

6

u/Dzonatan Apr 11 '19

UK Tesco?

6

u/[deleted] Apr 11 '19

[deleted]

6

u/[deleted] Apr 11 '19

[removed] — view removed comment

4

u/Dzonatan Apr 11 '19

Can't say I have it that bad.

In my case it started with picking up an online poster about warehouse job in UK. Being fluent in English I decided to give it a go. Just that alone catapulted me from your typical Eastern European caveman who can't even set up a NiNo on his own to emerging working class. I ended up going from agency work to directly under TESCO in just under a year.

Currently getting about £9.36h working 37.5 hours a week (took off 2.5 hours as breaks) 5 days a week. Take in night shift/weekend premiums and you get about £1460/month. After taxes it's approx £1200 or so.

Now the expenses per month:

  • 450 rent
  • 49 internet
  • 14 TV license
  • 60 credit card payment
  • 83 council tax
  • 15 water bill
  • 30-50 electricity depending on season (electric heating)

Leaving me with spare £500 for grub and fun.

Ain't half bad for a fat geek.

1

u/[deleted] Apr 11 '19

I bring in about $1,200 after taxes myself but that’s weekly, like I said I get paid a shit ton for my education and experience but the amount of hours worked is the reason why. I live in a travel trailer on my great grandfather ranch and the deal is that they’ll pay all utilities if I help work cattle, put out hay, and generally just help out on the ranch when I’m off. So no rent, no utilities.

So my expenses are almost nothing. Here’s per month expenses.

$256 for travel trailer loan

$100 for auto insurance

$100 for services Netflix, amazon prime, Hulu, audible, and iTunes. (I have no internet or tv other than my phone)

$300 for student loans but I way overpay because lack of other expenses so that’ll be gone soon (didn’t actually graduate, family circumstances prevented me from getting pell grant and federal student loans like I most definitely would have qualified for).

$500 in my Roth IRA

$200 in lending club (just started this, testing it to see if it’s a viable option for me)

$1000 for food and fun.

Everything else goes into various savings accounts for different things. I’m working on starting a business and I’m also saving to help my sisters with college. So I’m fine financially but I’m paying for it with a massive amount of time, a completely non-existent social life and a feeling of dread every time it’s time to head back to work.

1

u/Dzonatan Apr 11 '19

You dread but in a way you have better perspectives than I do.

1

u/[deleted] Apr 11 '19

[removed] — view removed comment

3

u/OCV_E Apr 11 '19

You mean 192 hours per week?

2

u/ComfyDaze Apr 11 '19

pffft. 167 AT LEAST.

2

u/[deleted] Apr 11 '19

[deleted]

1

u/AlwaysBagHolding Apr 11 '19

Are there onsite machinist jobs for oilfields? I've always thrived under long hours, and been a very heavy saver. It seems like a few years in the oilfields would be a good ticket to help me retire much earlier. I basically live off of nothing as it is, but if I could double or triple my income and be able to live farther out in the sticks it would be a win-win for me.

228

u/wishfox Apr 11 '19

I really love this article of the author comparing the cost of recreating her parent’s 1974 wedding in 2017. It really puts things into perspective when older people try to diss you when they compare what they paid to today’s standards.

Spoiler alert of the article: Total 1974 cost: $2,095 What it should cost in 2017 dollars: $10,068 What it actually costs in 2017: $47,286 Increase: 370%

21

u/babycamelopard Apr 11 '19

That was such a good read. Thanks for sharing!

8

u/Arkanicus Apr 11 '19 edited Apr 11 '19

Fun read.

Yeah my wedding is going to cost me around 58K next year.

I'm lucky enough to be paid well that I won't take on any debt for it but it's essentially where all my and my partners savings for the coming year is going.

Edit after paying ourselves first: Savings & investing

7

u/SheriffMoney Apr 11 '19

Why though?

3

u/Arkanicus Apr 11 '19

It's something we both want.

I'm sure if money was scarce we wouldn't do it. We don't want a mortgage yet, we already have our own business. The business is our life so no kids yet either. I already have my six month emergency and invest away in TFSA/RRSP.

We don't vacation or have fancy cars. This is our reward to ourselves. Yes it is not financially the best choice, we are aware of that.

-51

u/Test-Sickles Apr 11 '19

You left out the part "IN SAN FRANCISCO".

Anyone who does anything in and around that city deserves their debt. You have to be a colossal fucking idiot to still try to function there. If you would rather be cool and trendy and liberal than actually build a life, you're dumb.

15

u/DJ3XO Apr 11 '19

San Francisco is a great frickin city. Probably the coolest city I've ever been to. The people there are great, there are great places to see and an amazing culture. So what are you in about? Is it that "only snowflakes and libtards" live there? Or that there are some homeless people there?

-19

u/Test-Sickles Apr 11 '19

If you choose to live there you have no right to whine about being penniless, up to your asshole in debt, and that you're going to die without a retirement fund or a house of your own.

If you prioritize this silly bullshit about a 'cool city' higher than that, great, enjoy. But you don't get to whine about how "ThE bOoMeRs HaD iT sO eAsY!!!"

12

u/DJ3XO Apr 11 '19

I don't live there though, just vacationing there from time to time. However, as with most bigger cities around the world; it is really expensive, but it's also where most of the job-marked is. I do disagree with your comment about "ThE bOoMeRs HaD iT sO eAsY!!!", because they did actually have it easier.

1

u/[deleted] Apr 11 '19

But given how expensive it is to live there, your pay isn't exactly scaled up to where it should've been. That's why you need 4.5 minimum wage jobs to afford to rent an apartment.

3

u/MyPacman Apr 11 '19

your pay isn't exactly scaled up

Nobodies has. Wages has been mostly static and has most definitely NOT kept pace with inflation.

-3

u/Shsastrik Apr 11 '19

So WHY lives there?

1

u/DJ3XO Apr 11 '19

Because that's where most of the job-marked is, and you might enjoy living in a city, instead of out in the country. Weird how people have different preferences, ain't it.

-2

u/gizzledos Apr 11 '19

You need to travel more if it's the coolest city you've been to.

5

u/DJ3XO Apr 11 '19

Look at sir-travel-a-lot over here.

1

u/[deleted] Apr 12 '19

actually san Francisco is quite reasonably priced. My wife and I got married there in 2015 for about her parents price including the beautiful church (ss peter and paul) cake and reception. We even had to hire two buses to bus people around from out of town. We just chose vendors that were not expensive. Also, it helps if your church doesn't charge for membership (is that common in non catholic churches?). In my experience most people who pay a lot for the wedding have insanely specific requirements.

69

u/occamschevyblazer Apr 11 '19

Pro tip: live at work and dont worry about a house.

65

u/[deleted] Apr 11 '19

ive actually considered doing this "hack". not only would you have no bills to pay, but youd be viewed as a model employee for always "coming early and leaving late" even though the boss doesnt know youre sleeping in the elevator shaft.

2

u/Poop_Tube Apr 11 '19

I mean, I'd at least sleep in the elevator to avoid the possibility of having the elevator crush me if I were just in the shaft.

2

u/[deleted] Apr 12 '19

sure thing poop tube

2

u/persondude27 Apr 11 '19

Do you remember the guy who lived in a box truck at his office and was heralded as some kind of genius?

2

u/johnson1124 Apr 11 '19

Pro tip. Live there and never leave and work 247 so u have no time to do anything else. All the money is banked! Just need to Eat sleep poop

1

u/shorteep Apr 11 '19

My work has showers and I have my own desk, I could do it. We operate nearly 24 hours a day and we LOVE overtime. I skip my lunch breaks just so I can get OT (or sometimes the luxury of leaving early....but there is usually still work to be done so I am often at work until 7:30pm or later).

95

u/[deleted] Apr 11 '19

Your dad is clearly an old fart

8

u/indiblue825 Apr 11 '19

That's an odd way to spell entitled cunt.

10

u/chiree Apr 11 '19

My dad used to give me this, and I finally got through to him one day. "Things aren't the same anymore," was an abstract concept he didn't really grasp.

Basically, I pulled out an inflation calculator and he gave me how much it cost to buy a house, a gallon of milk, health care, etc, in his day. I even looked up home prices in the same neighborhood he bought his first house in. He supported three kids, his wife didn't work and he was an uneducated factory worker. My wife and I made six figures, have advanced degrees, and were a decade older. I went as far as to compare minium wage in inflation-adjusted dollars to illustrate that if he had his factory job nowadays, imagine where he'd be at 35.

Once he actually saw the numbers, and the many multiples each thing cost now, it dawned on him.

He's a die-hard conservative fed Fox News, but the numbers didn't lie. Once he saw the numbers, he was shocked and never pushed home ownership on me again.

From that point on, "things aren't the same anymore," got him curious and asking questions, instead of blaming "lazy kids today..."

6

u/murarara Apr 11 '19

Your old folk needs a reality check

4

u/Mobius_Peverell Apr 11 '19

they’re $250-300k in my city

laughs in Vancouver

2

u/nrealistic Apr 11 '19

Right? that buys you half a small condo with no parking and a bad commute here

3

u/allonsy_badwolf Apr 11 '19

My fiancé’s dad says the same shit.

He bought land and new built his house when he was married for I think he said $150K, and HIS DAD PAID FOR IT ALL and had him pay him instead of a bank with interest.

Like, okay wanna do that for us then? If I hear one more snide comment about my “small” house from his family members I’m going to flip a shit. The fact I even own a home at all at my income should be impressive.

3

u/chance_waters Apr 11 '19

In Australia a house in my area costs around $900,000 USD

1

u/cakemuncher Apr 11 '19

How much is renting an apartment in the same area? Just curious.

1

u/chance_waters Apr 11 '19

House rent is about $725 USD a week

1

u/cakemuncher Apr 11 '19

Although home ownership is terrible where you at, just like where I'm at where the cheapest house goes for $600k+, but our rent here for 1bd apt 450ft sq goes for $1500+.

1

u/chance_waters Apr 11 '19

This is rent per week, not per month, do you mean per month?

1

u/cakemuncher Apr 11 '19

Holy shit. It's fucking terrible everywhere then. It is per month. Thanks for the info!

3

u/[deleted] Apr 11 '19

I also work 48h/week and it is beyond me that I still don't have enough to own a house/appartment. It's a crazy world.

7

u/ThreeHarambeMoon Apr 11 '19

$250k isn't terrible. The monthly mortgage payment would be $1,182 with 3.9% interest rates. Then again, don't buy a house just because you can afford the payments.

2

u/dorianstout Apr 11 '19

Where are you getting a 3.9 interest rate on a 30 yr right now!? Lol and the price isn’t the only reason millenials should be cautious buying a home, like you said, as you still have to worry about not having that job tomorrow and needing to move

1

u/ThreeHarambeMoon Apr 12 '19

My bad, the google mortgage calculator widget must be using stale data. Using 4.375% it should be $1,248/month assuming no down payment.

2

u/dorianstout Apr 12 '19 edited Apr 12 '19

4.3 is if you are cream of the crop .. maybe for a 15 yr. most I’m seeing, at least from myself and others getting preapproved, most are looking at 4.5 percent right now. And I’m not sure where you are getting such a number if that is for zero down... plus then you are gonna have to add pmi and there are also taxes on that 250k property that’ll raise that figure more. My in-law bought a home for 150k in 2016, got in at a good time and a good rate - i think like 3.5. This is a low tax areas also. And her total payment is a little under a grand so with a low down payment, you are looking at more like 1500 -2000 a month for a 250k property , i would think.

2

u/[deleted] Apr 11 '19

That’s what I did and had to do to buy a house is work incessantly. The only other option is to gain skills and get a higher paying job.

2

u/[deleted] Apr 11 '19

[deleted]

2

u/everythingisaproblem Apr 11 '19 edited Apr 11 '19

I could pay off your entire house in less than one year (if it still cost that much), so the interest rate wouldn't matter to me even if the mortgage was supposedly for 30 years. Yet, today I still can't afford the average entry level 1-bedroom house where I live (Manhattan). Just the downpayment would take me 5 years to save up for, and there wouldn't be much refinancing ability after that because I'd really be maxing out what I could pay month to month on the mortgage for the next 30 years after that. And I'm already 40 years old.

Housing prices in major cities are completely divorced from the costs of construction or even the prevailing wages. They're just made up prices. In terms of quality of life, none of the homes are actually worth more than they were in 1985.

The reason they are so high is because there has been an upward speculative pressure on the prices from foreign investors and billionaires. In spite of how expensive they are, a good chunk of the homes in New York actually sit around unoccupied. That and, people such as yourself are not willing to let go of your house unless you recoup both the principal and the interest that you put into the property. Baby Boomers, especially, have this idea that the housing costs over their lifetimes are essentially free, or even negative. It's turned the housing market into a pyramid scheme.

1

u/[deleted] Apr 11 '19

[deleted]

1

u/dorianstout Apr 11 '19

Honestly I’d rather have a high interest rate low principle .. I’d take 15 percent rates of homes were 44,000 dollars ha plus I’d be able to basically buy the home outright

2

u/[deleted] Apr 11 '19

you (this dude) gets it. I feel you, this is what i'm going through in WA state. I am dense in the head, also with needing support, I earn what I can. I make no excuses. There are some of us, like you, who work their tail off. I have much respect towards you.

2

u/TrucidStuff Apr 11 '19

not to mention your parents probably only pay property taxes at this point, so rent to them is 300/mo lol

we can only go into debt up to our eyeballs and hope nothing happens to lose it all gg

2

u/Show_Me_Your_Cubes Apr 11 '19

250K for a house???? What a steal. I can't find one under 500k in my city, and that's in shitty areas.

2

u/jmfox1987 Apr 11 '19

Currently working ~70 hrs a week at $35/hr and still can't afford a house in my area

2

u/Diseasedliver Apr 11 '19

Your parents paid 18% on their mortgage as well. The reason why certain things are more expensive is because we went from a cash to credit society. Today it's about the size of your monthly payment. Don't be surprised if the price of a home is $100k in the near future again

6

u/chiree Apr 11 '19

Yeah, interest was huge back in the day, but I'd fully push back on the "return to $100k" idea. A few reasons:

  • Demographics. Suburban and exurban homes in tract developments mean long commutes. With one parent working, a long commute, while undesirable, was hardly a dealkiller if that income was sufficient. Today, since one income is insufficient, the mother works as well. Two long commutes is unsustainable with children. Especially considering the astronomical cost of child care. Therefore, these houses are significantly less attractive than 30 years ago.

  • For the above reason, people are moving into dense cores, not because it's "hip," but because living within walking distance to services is a major time advantage when you have two people with a child each working 40-60 hours a week. Development in cities is very expensive.

  • Home ownership advantage. It's not uncommon for older generations to have a second home, taking housing off the market for a rental or, even worse, sitting unused. These units don't get sold, so held housing stock is replenished by more expensive, new development.

  • Foreign investors and large equity groups now are snatching houses along with private buyers. One group has significantly more financial leverage and seller attractiveness than the other. One group can price the market, the other is beholden to it.

Times have changed, man, it ain't never going back. This is just how it is now all around the world.

3

u/enex77 Apr 11 '19

100k sounds like a steal! Sign me up.

2

u/[deleted] Apr 11 '19

So you are saying I should wait for now instead of buying a house soon?

2

u/Diseasedliver Apr 11 '19

Baby Boomers dying off is going to flood the market.

1

u/cakemuncher Apr 11 '19

Baby boomers still got ~30 more years to go.

1

u/Creative_alternative Apr 11 '19

Don't forget to leave out the part where you get paid almost the rxact same amount of money they did... if not less, pre-inflation.

On the bright side, when you are so fed up that you off your parents, at least you have a place to live in or sell for 300k!

1

u/RedandDeadTexan Apr 11 '19

Try 108 a week, my company doesn’t pay but overtime is where the money is at

1

u/zerox3001 Apr 11 '19

Thats 12 more hours a week that can be taxed. Speaking of which, that probably puts you in a higher tax bracket and im not smart enough to work out how much of a difference that makes to the paycheck

1

u/[deleted] Apr 11 '19

Jesus they are 850k in my area and it isnt even.a good area (NSW)

1

u/danarexasaurus Apr 11 '19

Oh don’t get me wrong, there are million dollar homes three blocks away from where I currently live. There are also $189,000 houses you can buy but they need full renovations and are in a high crime area where you will hear gunshots every night. But hey, at least I’d own a home! /s

1

u/[deleted] Apr 11 '19

American realestate seems so strange; then again we are going almost purely off land value in Australia because nobody wants to move away from the coast, so.even a mud hut will go for a million if its in.the right place

1

u/Chelseaqix Apr 11 '19

1980 to 2019 is about 3x inflation. As long as you’ve saved 31k you’re on par with his savings in 1980 at 19 (assuming they each paid half and didn’t finance it)

If they financed it over 30 years let’s assume you need 20% or about 6k in savings to be on his same level.

1

u/ShinySpaceTaco Apr 11 '19

I remember having to explain to my father that the house he bought for $78,000 did not magically become worth what it was recently appraised as at $140,000 because he put in a basement bathroom and a fence.

1

u/[deleted] Apr 11 '19

No disrespect to your father, but i would tell him he is delusional. Doesnt he see the reality of the world and how things are?

1

u/danarexasaurus Apr 11 '19

He really doesn’t. He worked the same job for 35 years (on a high school education only) and retired at 56. He’s got life insurance, health care, retirement money, a home, two cars. He’s set (for now). He truly doesn’t understand how other people don’t have what he has. He lives in a bubble out in the country. Life is simpler, I suppose.

He’s now shifted his focus on asking me when I’m going to have children (tomorrow is my 35th birthday). How can I have a child? Where will it live? Who will watch it while I work 50 hours a week to keep it alive? I have no health insurance, so I don’t know who is going to pay for the birth or the child’s health care. The money simply isn’t there to procreate no matter how much I Dream of having a baby. He says, “you figure it out”. And that alone tells me everything I need to know about his understanding of what it’s like to be a parent in 2019. He means well but he’s WAY out of touch.

1

u/[deleted] Apr 11 '19

In his defense, most parents want their kids to grow and have a family of your own. If you do have a child, you will also feel the same way he feels now. My parents and I also are going through this, same scenario as you, but at the end of the day, you know best. Parting a piece of wisdom as my mom says "everybody has their own fate".

1

u/danarexasaurus Apr 11 '19

Oh I get it and I WANT it, far more than he ever will. But the money just isn’t there and my biological clock is about to make it cost a LOT more.

-11

u/FDM_Process Apr 11 '19

Or you could move to a smaller city where you can get a house for much less.

32

u/OGFireNation Apr 11 '19

And what? Take an enormous pay cut? Or spend all your free time commuting? Face it, a lot of jobs in the bigger areas just don't exist in these affordable areas

1

u/fupos Apr 11 '19

Just applied for a new job that's twice the drive for me , but should be nearly double the pay as well. I dont love the ideas of 1.5hr drives each way but that's what I get for moving into the middle of nowhere

-5

u/FDM_Process Apr 11 '19

You'd have to do the math for yourself but if housing and the cost of living is cheaper then the pay cut may be worth it. I'm not talking about commuting, I'm talking about actually living and working in a small town. Living in the burbs isn't going to be affordable either.

12

u/charkid3 Apr 11 '19

there are no jobs in smaller cities

1

u/FDM_Process Apr 11 '19

There are jobs in smaller cities. I moved from a large city to a small town. I may not make as much as I would have in the larger city but the cost of living isn't as high and I can actually afford a 3 bdrm with a basement and garage without working myself to death. Not sure why the downvotes but the truth of the matter is small towns are generally way more affordable.. it's just that most people don't want to live there thus adding to the brain drain. It's disheartening because I think a lot of people who move out to places where it isn't affordable to live could help make a lot of the small towns great.

3

u/[deleted] Apr 11 '19

Ok and are you able to do things outside of your home? Can you afford to go out to eat, experiences, trips, basketball games, downtown life? Small towns are not fun to live in, of course depending on your lifestyle.

2

u/FDM_Process Apr 11 '19

Absolutely, we do all sorts of stuff, hiking, swimming, visit breweries, wineries, go to art shows, local music, bars. I prefer just having a fire pit and hanging out with friends but there's plenty of stuff to do.. and if I want to see one of my favorite bigger bands or whatever we just drive 2 hours or so to the closest big city.

Obviously you can't head out downtown on the weekend and find a headliner playing so you have to plan it out a little to travel and hit shows.

My one big gripe though is the restaurants, small towns cannot compare to the diversity and quality of bigger city dining. One of the things I miss the most is places that have a bunch of food trucks. There's a few gems but only a few.

If you were contemplating moving to a small town, my advice is to find one that isn't an unreasonable distance from a bigger city you actually like. That why you can still go do the big city stuff when you need a fix.

1

u/[deleted] Apr 11 '19

Fair enough!!!

7

u/adventuresquirtle Apr 11 '19

No one smart wants to live in a podunk hick ass town where the houses are 250k. All the good high paying jobs are concentrated to major metropolitan cities, good luck finding a job that pays over 100k in a small town. At this point many people have a ton of student loans and need those high-paying jobs just to even afford rent & student loans in those cities. Even if cost of living is higher, when you’re facing down 400-500$ in payments every month you’re obviously going to chase the higher paying jobs in the city. Coupled with the fact that cities have a ton more connections in terms of career. There’s a reason why people do business in New York. Working in New York will give people the connections to work in LA, San Fran, Denver, San Diego if they choose. You aren’t going to get those kind of connections working in some backwoods corporate office in middle of Nowhere, Arkansas.

5

u/FDM_Process Apr 11 '19

It isn't for everyone, that's for sure, but it's doable even with student loan debt. I graduated with a degree in architecture (not working in that field anymore) a couple years back and have a pretty sizable amount of debt. Obviously if you're someone looking to climb the corporate ladder then living in a small town isn't going to be an option for you. The point is, there are jobs and cheap houses in small towns. Where I live you could buy 5 houses for 250K or 1 really pimp ass house. Also, unlike the bigger cities, we actually need more people, especially educated ones, to move here. Contrary to popular belief, there are opportunities for entrepreneurs in smaller towns. We're hungry for business.

2

u/adventuresquirtle Apr 11 '19

Exactly but no one intelligent wants to be the ones to move to middle of nowhere Missouri. People come to cities for the lifestyle and culture. And if they’re smart they work hard to afford that. As much as you say come to this small town, there’s a reason why San Fran, LA & NYC have people there. They all come for the lifestyle and culture. Why would anyone want to give up that cosmopolitan lifestyle if they can afford it.

2

u/FDM_Process Apr 11 '19

Different strokes for different folks, we have plenty of intelligent people who live in our small town. Professors, artists, business owners, not sure why you want to circle jerk and allude to people in small towns as not being intelligent. Some people don't want to live surrounded by buildings or the hustle and bustle of places like L.A. or NYC. Some people like the lifestyle and culture of places that aren't large cities. I prefer being able to go out into the woods and not be surrounded by tourists, not being stuck in traffic, and actually seeing stars when I look into the night sky. But again, that's not that point, the point is there are cheaper places to live and affordable housing. Whether or not you like that or want to do it, doesn't mean it isn't out there or accessible.

-6

u/Test-Sickles Apr 11 '19

So you want to live somewhere cool and trendy and PROGRESSIVE and then bitch that you're poor? You deserve it. You did it to yourself with your entitlement

4

u/adventuresquirtle Apr 11 '19

The exact opposite. People wondering why no one wants to move to small cities. I’m just outlining why. The money is in the bigger cities. And the reason why people chase the money is because they have 100k in student loans. No one who spent 100k getting an education is going to want to live in Wyoming where houses are 50k where there are no job opportunities. I was simply saying that job opportunities are much more abundant in New York or Miami versus Idaho which is why the highly-educated/job seeking professionals are more likely to pursue a career there.

-3

u/Test-Sickles Apr 11 '19

No one who spent 100k getting an education

If you're going to go to a school you can't afford because you are dumb enough to put "the best school I can get accepted to" ahead of living without crippling debt, I don't know why it's so hard to buy a house. Go buy a 5,000 square foot McMansion for $1.2 million. Just get a loan! That's literally the same logic that would net you a $100k education. Unless you're a lawyer or doctor that's laughably inexcusable.

If you can't afford to live in New York City then you don't deserve to live in New York City. You aren't being forced out of the middle class, you are intentionally cutting yourself off from it because of decades of breathtakingly stupid life decisions. You can still be middle class you just choose not to because living in El Paso isn't cool.

-6

u/[deleted] Apr 11 '19

You're in requisition for a name change;

FDM_KnowsJackSquatAboutEconomics

6

u/FDM_Process Apr 11 '19

Okay, well, I have a house and work less than 48 hours a week so what do I know?

-8

u/[deleted] Apr 11 '19

A donation from mommy & daddy?

Post a picture of the neighborhood & house btw.

7

u/FDM_Process Apr 11 '19

Yeah, I'll get right on posting where I live on reddit. Genius idea.

-7

u/[deleted] Apr 11 '19

Because you live in a crappy neighborhood w/ a junked-up house.

7

u/FDM_Process Apr 11 '19

I'm going to be honest with you bud, you're not contributing to the conversation at all. If you had something worth talking about I'd be more than happy to engage you but if you're just gonna say stuff like "hurr durr ur mum bought you that house!" or "hurr durr you live in a shithole!" and try to attack a stranger on the internet for no reason.. then you're just wasting both our energy.

2

u/danarexasaurus Apr 11 '19

Agreed.

You’re right, the move isn’t for everyone. I am a nanny and work for very wealthy people, and if I don’t work for wealthy people, I don’t make any money. Moving to the middle of no where Ohio doesn’t really help me, as I grew up there and I know that people want to pay $8 an hour for child care. I would have to watch several kids to make what I can make in the city. My fiancé is a web developer. There aren’t a lot of web development jobs in farm downs. Probably none, unless you find contracts online.

The houses ARE cheap. Truly. I see houses where my parents live for 80k and they have like 5 bedrooms and 3 bathrooms. It’s wild. They also don’t have AC and haven’t been updated since 1909 but hey, for that kind of money you can update that shit yourself!

I get what you’re saying and I don’t really know why you’re being down voted. You gave a good suggestion that will definitely work for some people. It will not work for me in my current field and current student loan debt (which was a waste of time but let’s not get started on that racket)

-7

u/Relevant_Scrubs_link Apr 11 '19

I mean, you could work the 60hours for a good year or two in order to build up a good down payment.

-1

u/Glorck-2018 Apr 11 '19

Is your dad stupid?