Reply to Wells Fargo ad about millennials eating out

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I hate those self serving ads by WF showcasing a millennial couple eating out several times a week (once at a food cart), and that being the prime reason they can’t afford downpayment on a house.

Such BS. It’s sky high rent, student loans, and medical insurance — not avacado today du jour

Maybe instead of offering sham financial counseling, they offer low fixed rate student consolidation loans.

[/quote]

Stop taking out expensive student loans, pick a field with good income potential, and go live somewhere cheap. I shared an apartment with roommates up until I got married at 28. Except for the times I traveled for work and stayed in a hotel, I've never actually lived anywhere alone by myself. [/quote]
And what year did you graduate?[/quote]

I'm not the PP here, but my story is the same. I graduated college in 2000. [/quote]

+1, graduated 2001

Although I'll give you the student loans-- those are larger for recent grads than they were for me.  But I did make tradeoffs and my first home was 500K in the suburbs so it's not like homes were affordable and close-in for Gen X either.  And I was making much less than I am now while saving up for that downpayment.[/quote]

So 2 years out of college you had $100k DP?[/quote]

NP here. The summer DH graduated law school (with loans) we put 5% down on a $450k townhouse. This was 2008. We were 25.[/quote]

5%. Ah, so you are advocating financially irresponsible borrowing. Gotcha. [/quote]
FHA programs.  Not irresponsible [/quote]

Yep, remove your equity margin, and throw away thousands on FHA fees and insurance. And you know now that insurance can’t be cancelled at 20%. [/quote]

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