6 ms·

The solution is to leave cities that aren't affordable. Sorry, but you may not get to live beach-side or be in walking distance from your hipster coffee joint i

The solution is to leave cities that aren't affordable. Sorry, but you may not get to live beach-side or be in walking distance from your hipster coffee joint in downtown SF. I really think a lot of the problem is our generation grew up watching too many movies and they just think it's normal to live in some high end condo in Manhattan while working for Enterprise Rent-A-Car. That's not realistic.

hiram112 5y ago
Yeah a lot of older millennials grew up on shows like Friends. We were disappointed in our mid-20s when we discovered our entry-level job wouldn't afford that large condo in downtown SF or Manhattan. But it has got out of hand. I earn 90% more than most full time workers. And like 50%+ of "households" out there, it's just me, so no dual income. And I don't think it's appropriate to expect 40 year olds to still live with a bunch of roommates like they did when they're 22. Forget the 2K ft^2 apartment in Manhattan or Mission District, I can't even afford the starter home out in Jersey or East Bay or Beltway DC. These aren't the mythical "McMansions" that everybody always uses to deflect from the affordability crisis - these are the exact same properties on tiny lots that a single-earning non-college-educated factory worker or postman or paper pusher could easily afford for his family in previous generations. And if I - earning 2x-3x more than most workers - can't afford these basic homes, how the hell does everyone else who earns the median income of $60K do it?
- CountDrewku 5y ago
  >And if I - earning 2x-3x more than most workers - can't afford these basic homes, how the hell does everyone else who earns the median income of $60K do it? By living in a rural area or not on the coasts. >And I don't think it's appropriate to expect 40 year olds to still live with a bunch of roommates like they did when they're 22. I guess that depends on your culture. It's pretty normal to have multiple families or roommates in other countries. The only legit way I can see to fixing some of these issues is to ensure you do not let investors outside of your country buy up property. China is notorious for this. Secondly maybe you limit companies like Blackrock as well. I really dislike the idea of rent control. I don't think people that own a few properties should be punished and pushed out of the market. This just leads to larger corporations owning everything.

hiram112 5y ago

Yeah a lot of older millennials grew up on shows like Friends. We were disappointed in our mid-20s when we discovered our entry-level job wouldn't afford that large condo in downtown SF or Manhattan. But it has got out of hand. I earn 90% more than most full time workers. And like 50%+ of "households" out there, it's just me, so no dual income. And I don't think it's appropriate to expect 40 year olds to still live with a bunch of roommates like they did when they're 22. Forget the 2K ft^2 apartment in Manhattan or Mission District, I can't even afford the starter home out in Jersey or East Bay or Beltway DC. These aren't the mythical "McMansions" that everybody always uses to deflect from the affordability crisis - these are the exact same properties on tiny lots that a single-earning non-college-educated factory worker or postman or paper pusher could easily afford for his family in previous generations. And if I - earning 2x-3x more than most workers - can't afford these basic homes, how the hell does everyone else who earns the median income of $60K do it?

CountDrewku 5y ago
>And if I - earning 2x-3x more than most workers - can't afford these basic homes, how the hell does everyone else who earns the median income of $60K do it? By living in a rural area or not on the coasts. >And I don't think it's appropriate to expect 40 year olds to still live with a bunch of roommates like they did when they're 22. I guess that depends on your culture. It's pretty normal to have multiple families or roommates in other countries. The only legit way I can see to fixing some of these issues is to ensure you do not let investors outside of your country buy up property. China is notorious for this. Secondly maybe you limit companies like Blackrock as well. I really dislike the idea of rent control. I don't think people that own a few properties should be punished and pushed out of the market. This just leads to larger corporations owning everything.