Generation Y and Real Estate requirements

[Anonymous]

Anonymous wrote:

I do. I'm a Baby Boomer and DH and I are still living with our run-down, pink-tiled original 1952 master bath, 12 years after buying. Our HHI is close to $200K but we are saving aggressively for retirement and college. As long as the bathroom is functional, we're not remodeling.

We re-did our kitchen 10 years ago, but kept most of the cabinets and chose very modest materials for everything else.

Generational for sure IMO.

So, because you did something one way, and you are a Boomer, all Boomers do the same thing? And any variation by younger people from how you do things is BECAUSE they are younger?

Did they not teach (in your one room schoolhouse, by candlelight) logic to you in school? Or did you have to leave early that day to feed the oxen before your Pa started plowing?

Repeat after me - the plural of anecdote is not data.

Hilarious post! I am in tears!

[Anonymous]

Anonymous wrote:Are these Gen Yers that go to job interviews with a parent in tow?! Perhaps their parents felt they should remodel before they moved in because living in the place while renovating would be too difficult for them. Why, OP, would you worry about the coddled little children; their parents do enough of it.

Yes, that's the generation - the one that requires expensive gadgets with high monthly fees because they cannot live without Internet access 24/7.

[Anonymous]

Anonymous wrote:

I do. I'm a Baby Boomer and DH and I are still living with our run-down, pink-tiled original 1952 master bath, 12 years after buying. Our HHI is close to $200K but we are saving aggressively for retirement and college. As long as the bathroom is functional, we're not remodeling.

We re-did our kitchen 10 years ago, but kept most of the cabinets and chose very modest materials for everything else.

Generational for sure IMO.

So, because you did something one way, and you are a Boomer, all Boomers do the same thing? And any variation by younger people from how you do things is BECAUSE they are younger?

Did they not teach (in your one room schoolhouse, by candlelight) logic to you in school? Or did you have to leave early that day to feed the oxen before your Pa started plowing?

Repeat after me - the plural of anecdote is not data.

Wow, are you a jerk in real life too, or do you only hide behind anonymity to display your jerkiness?

[Anonymous]

I think it has to do with instant gratification. Everything is just so much faster. The idea of plodding along, slowly saving until you can pay in cash is foreign to this generation. BTW, I think that a lot of parents of these children enable this attitude as well. I know of several couples whose parents are helping to foot the bill for the first homes/renovations and whose mothers, in particular, are providing guidance on renos.

[Anonymous]

Anonymous wrote:You people are stupid, Gen Y are smart, they don't want to lower their standard of living to a 3rd world country. if they can't get what they want they will wait or continue to rake in more money and get higher income jobs because of their vast superior knowledge of technology over the old boomer fuck heads.

Now this is an intelligent post.

[Anonymous]

I know plenty of people who "have" to have this or that and continually get hand outs, only to keep whining. It makes me want to throw up.

[Anonymous]

I am part of generation Y but am married to someone from generation x. I agree with the OP. my childhood bf and her husband liquidated all savings and are far far in debt to do this kind of thing.

[Anonymous]

I wish I'd done my kitchen and baths in my previous house earlier rather than waiting till the year before I sold the house. It would have been nice to live with the new rooms - that were a huge improvement - rather than for someone else to get the benefit of my money.

I'm not making that mistake again - I'm saving for new bathrooms NOW and will hopefully do them next year. I've got a wishlist of house upgrades, prioritized, and hope to tackle one at a time till they're done. I'm an X-er. (I couldn't afford the house I wanted in the 'hood I wanted with perfect bathrooms, so I compromised.)

[Anonymous]

I agree with the OP too. the good times and easy money were so good and so easy that everyone wanted to get a house like they see on HDTV.

[Anonymous]

Look, OP, these couples are morons if they are not able to actually afford the renovations. But I also think all this Gen Y vs. X vs Boomer stuff is pure BS. You know what they say about assuming things...

[Anonymous]

Anonymous wrote:

Anonymous wrote:Also, I am married to a financial planner and most would advise you that student loan and mortgage debt is good debt. It is often better to be in debt than cash-poor. What you don't want is credit card debt.

Actually, there's been a lot of talk about this "good" debt and "bad" debt concept. At this point the general consensus is there's no such thing as good debt. All debt is bad.

All debt is bad. Some debt is necessary. But even necessary debt should be minimized.

[Anonymous]

Anonymous wrote:I think it has to do with instant gratification. Everything is just so much faster. The idea of plodding along, slowly saving until you can pay in cash is foreign to this generation. BTW, I think that a lot of parents of these children enable this attitude as well. I know of several couples whose parents are helping to foot the bill for the first homes/renovations and whose mothers, in particular, are providing guidance on renos.

So, where is the line drawn between what is reasonable and what is bratty gen Y behavior?

Here's our story: DH and I are 29 and 30. We bought a completely unrenovated 1950s rambler last year. 3br/1ba in a modest neighborhood with schools that many DCUMers poopoo and many are ok with. We had our apartment for almost two months after closing, so we painted every room and redid the bathroom because there were giants cracks in the tub's pink enamel that grossed me out. Simple job, reglazed the tub, new tile floor that we put in ourselves and a new sink from home depot. Otherwise, we didn't do any other work before moving in.

The kitchen is a dump with peeling laminate countertops, really gross laminate flooring that is gray no matter how hard I scrub on hands and knees and very old bisque appliances that work well, sometimes. We will fix that once we save enough for it.

I think some on this thread would call DH and i bratty gen Yers for not being able to live with that bathroom. What's the consensus? Do we suck?

Oh, and my mom and dad advise me ALL the time on house stuff. Because, you know, they have experience and all, but it makes me a brat to ask them for advice, instead of my gen Y friends whose only knowledge of such things come from HGTV and young house love. Consulting my parents, who have renovated a Victorian, a 1960 split level and a bad 80s beach cottage makes me very, very immature.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

I do. I'm a Baby Boomer and DH and I are still living with our run-down, pink-tiled original 1952 master bath, 12 years after buying. Our HHI is close to $200K but we are saving aggressively for retirement and college. As long as the bathroom is functional, we're not remodeling.

We re-did our kitchen 10 years ago, but kept most of the cabinets and chose very modest materials for everything else.

Generational for sure IMO.

So, because you did something one way, and you are a Boomer, all Boomers do the same thing? And any variation by younger people from how you do things is BECAUSE they are younger?

Did they not teach (in your one room schoolhouse, by candlelight) logic to you in school? Or did you have to leave early that day to feed the oxen before your Pa started plowing?

Repeat after me - the plural of anecdote is not data.

Wow, are you a jerk in real life too, or do you only hide behind anonymity to display your jerkiness?

Please don't mistake lack of tolerance for sloppy, intellectually bankrupt reasoning for jerkiness.

[Anonymous]

Gen x and y got crapped on by the older generation which bought before 2003.

[Anonymous]

boomers destroyed america and continue to do so by over burdening younger generations and voting in as much free public assistance in the past towards their retirement. On top of destroying the stock market and the housing industry they want to complain about the younger generations instant gratification. Guess what we don't want to live in dumps like you and have a standard of living.