4 ms·

Or you can just wait for the next stop and get on there.

by tamaharbor 5y ago

the_other 5y ago
How do you get to the next stop?
- jimbob45 5y ago
  You wait for the market to cycle again - crash, boom, then crash, etc. Parent poster might have been in their 20s/30s though and implying that waiting for the next cycle would waste prime years of their life.
  - tejohnso 5y ago
    > waste prime years of their life. I'm not sure that life is wasted, but I'd suggest financial opportunity is wasted. You just can't reach the level of financial security that the previous generation could if that previous generation had a drastically lower cost of living relative to income for the first X years of their adult life. Especially as X approaches the length of your entire career.
  - User23 5y ago
    Or you hope that your boomer parents don't reverse mortgage the house to fund the Margarita-ville lifestyle at some compound in Florida. For many young people today inheriting a house is the only plausible way they're going to get one.
    - aaronax 5y ago
      Anyone can move to my town and get an $18/hour starting wage job and buy a $150,000 house. Hard to imagine that this is unique. Look outside the cities...
      - User23 5y ago
        Blackrock is aware of this problem and is actively mitigating it.
    - bradlys 5y ago
      That’ll happen at far too late of an age for it to matter though. Parents aren’t dying at 60 when they had kids at 30. They’re dying at 80 and the kids will be 50+ when they finally get anything. By then - it’s far too late.
  - rtkwe 5y ago
    That depends heavily on your job and savings not being decimated by the crash part of that cycle.
woodweb 5y ago
As someone born in and has all my family in BC, Canada; I barely lucked out securing a house in 2020. This was thanks to a white collar career and financially literate partner. There is no next stop. Look at Canada's housing crisis if you want to see where the United States is headed.
jaqalopes 5y ago
I appreciate extending the analogy but I don't understand what this actually looks like in real life. You only go to college one, have your first job out of college once, etc. If you don't maximize ROI on those (not just financially but socially) you're playing catchup forever. Success is absolutely still possible but it will take hard work and luck compared to if I had just followed the prescribed path like so many people I know.
tenebrisalietum 5y ago
On a burning station? That's not safe. Is a train even going to stop at a burning station?

Or you can just wait for the next stop and get on there.

the_other 5y ago

How do you get to the next stop?

jimbob45 5y ago
You wait for the market to cycle again - crash, boom, then crash, etc. Parent poster might have been in their 20s/30s though and implying that waiting for the next cycle would waste prime years of their life.
- tejohnso 5y ago
  > waste prime years of their life. I'm not sure that life is wasted, but I'd suggest financial opportunity is wasted. You just can't reach the level of financial security that the previous generation could if that previous generation had a drastically lower cost of living relative to income for the first X years of their adult life. Especially as X approaches the length of your entire career.
- User23 5y ago
  Or you hope that your boomer parents don't reverse mortgage the house to fund the Margarita-ville lifestyle at some compound in Florida. For many young people today inheriting a house is the only plausible way they're going to get one.
  - aaronax 5y ago
    Anyone can move to my town and get an $18/hour starting wage job and buy a $150,000 house. Hard to imagine that this is unique. Look outside the cities...
    - User23 5y ago
      Blackrock is aware of this problem and is actively mitigating it.
  - bradlys 5y ago
    That’ll happen at far too late of an age for it to matter though. Parents aren’t dying at 60 when they had kids at 30. They’re dying at 80 and the kids will be 50+ when they finally get anything. By then - it’s far too late.
- rtkwe 5y ago
  That depends heavily on your job and savings not being decimated by the crash part of that cycle.

woodweb 5y ago

As someone born in and has all my family in BC, Canada; I barely lucked out securing a house in 2020. This was thanks to a white collar career and financially literate partner. There is no next stop. Look at Canada's housing crisis if you want to see where the United States is headed.

jaqalopes 5y ago

I appreciate extending the analogy but I don't understand what this actually looks like in real life. You only go to college one, have your first job out of college once, etc. If you don't maximize ROI on those (not just financially but socially) you're playing catchup forever. Success is absolutely still possible but it will take hard work and luck compared to if I had just followed the prescribed path like so many people I know.

tenebrisalietum 5y ago

On a burning station? That's not safe. Is a train even going to stop at a burning station?