Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I graduated from college in the early 90s and no one was buying houses right out of college.

Everyone either had roommates, or was married. Some people stillmlived with their parents.

The homes were not single family homes in hip expensive neighborhoods. They were suburban apartments or town houses for those who wanted a little nicer homes, or dives in the city.

I don't know why millenials aren't doing the same, ie getting roommates and living in less than ideal starter apartments just like everyone else. I think a lot of their housing issues are because they have a warped hgtv idea of what their first place should look like, and think they deserve more so they just decide to live with mom and dad instead so they have fun money and nice things.

I have no idea why they are too irresponsible topay off their college loans.

They might be educated, but they failed at basic consumer math when they chose to take out these exceptionally expensive loans for degrees that aren't marketable and from overpriced expensive universities.

They should not get their debt forgiven. That is unfair to everyon who met their debt obligation or who made better, more responsible choices.

Most millenials ARE living with roommates, or living at home with their parents to save money.

My loans will be forgiven in 5 years. No I did not go to an overpriced university. I went to an inexpensive law school and graduated with $70k in loans that I couldn't pay off because the job was shit (thanks to those who crashed the economy while I was in college buying homes they couldn't afford or didn't have the income to purchase thanks to no accountability!), and the interest rates were high so my debt has doubled while I've been working a low paying job. Yes I will use the public program that is available so that my loans go away as soon as I qualify. The government is what caused the problem, and the government is going to fix it.

BTW, I'm a single mom (and DV survivor), and I live in a neighborhood of DC that has not gentrified, in my own modest home that I purchased using the low income tax abatement and a down payment assistance program. I'm going to use the funds available to me to make my life better and more stable. Not only that, I'm going to artificially depress my AGI until my loans are discharged (by contributing a higher than average amount to my 401k) so that my loans payments stay low. I figure my 70 year old self will thank me in about 35 years.

I figure if this country elected a person who is "smart" enough to figure out the loopholes so they don't have to pay any taxes, I can play games with my money too.

No.

You caused this problem, not the government.

You are the one who chose to take out these loans. You are the one who picked your major. You are the one who picked your school.

Why did you take out $75K of loans for college? Why didn't you do two years at NOVA community college? Why didn't you pick out a less expensive college or a marketable degree like accounting or a stable, in demand degree like teaching?

These are all choices you made. Why should we the taxpayers pay off your loans that you freely took out on your own?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I graduated from college in the early 90s and no one was buying houses right out of college.

Everyone either had roommates, or was married. Some people stillmlived with their parents.

The homes were not single family homes in hip expensive neighborhoods. They were suburban apartments or town houses for those who wanted a little nicer homes, or dives in the city.

I don't know why millenials aren't doing the same, ie getting roommates and living in less than ideal starter apartments just like everyone else. I think a lot of their housing issues are because they have a warped hgtv idea of what their first place should look like, and think they deserve more so they just decide to live with mom and dad instead so they have fun money and nice things.

I have no idea why they are too irresponsible topay off their college loans.

They might be educated, but they failed at basic consumer math when they chose to take out these exceptionally expensive loans for degrees that aren't marketable and from overpriced expensive universities.

They should not get their debt forgiven. That is unfair to everyon who met their debt obligation or who made better, more responsible choices.

Most millenials ARE living with roommates, or living at home with their parents to save money.

My loans will be forgiven in 5 years. No I did not go to an overpriced university. I went to an inexpensive law school and graduated with $70k in loans that I couldn't pay off because the job was shit (thanks to those who crashed the economy while I was in college buying homes they couldn't afford or didn't have the income to purchase thanks to no accountability!), and the interest rates were high so my debt has doubled while I've been working a low paying job. Yes I will use the public program that is available so that my loans go away as soon as I qualify. The government is what caused the problem, and the government is going to fix it.

BTW, I'm a single mom (and DV survivor), and I live in a neighborhood of DC that has not gentrified, in my own modest home that I purchased using the low income tax abatement and a down payment assistance program. I'm going to use the funds available to me to make my life better and more stable. Not only that, I'm going to artificially depress my AGI until my loans are discharged (by contributing a higher than average amount to my 401k) so that my loans payments stay low. I figure my 70 year old self will thank me in about 35 years.

I figure if this country elected a person who is "smart" enough to figure out the loopholes so they don't have to pay any taxes, I can play games with my money too.

No.

You caused this problem, not the government.

You are the one who chose to take out these loans. You are the one who picked your major. You are the one who picked your school.

Why did you take out $75K of loans for college? Why didn't you do two years at NOVA community college? Why didn't you pick out a less expensive college or a marketaboe degree like accounting or a stable, in demend degree like teaching?

These are all choices you made. Why should we the taxpayers pay off your loans that you freely took out on your own?

How is that any of your business? I love the gall of all the SAHMs on here who fuss about school pyramids and want their children to go to the best schools to the point of putting themselves in severe mortgage debt, but someone else decides to go a college/university and increase their education - its all you should have gone to a CC!!

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If you really believe this is why we can't afford houses or pay off student loans, I have a very affordable bridge to sell you. Killer deal. But your mentality lets me know that you are def one of the ones who ruined the economy for us. Now you sit back hypothesizing about every other thing that could be wrong but you will never accept responsibility for how you set us up for failure. Thanks, geezer.

I know it's hard for you to fathom, but prior generations did face bad economic times. I came out of school just in time for the Bush I recession of 1991/2. Job and housing market were both in the shitter. That was back when if your house was under water, that was your problem, not the government's. Even the military was laying people off. Kids coming out of school found jobs, moved out from their parents, and got started with their lives. They didn't sit around bitching about how they'd been set up for failure. Grow up.

SOME kids moved out from their parents place and got jobs and lived off little to nothing, others probably did move in with their parents to save money (or sit on their asses and do nothing). Millennials aren't universally doing poorly, nor is every millennial buying $40 candles at Union Market on the weekends. Some live with their parents, some complain, others live with roommates, some of us own houses and have kids.

(also, what will the government do now about a house underwater?)

I'm NP btw.

Anonymous wrote:Debt is debt. I sleep much better at night knowing I have two houses paid off, 4 income generating units, $1M in the bank and I owe no one anything.

Anonymous wrote:

Anonymous wrote:I graduated from college in the early 90s and no one was buying houses right out of college.

Everyone either had roommates, or was married. Some people stillmlived with their parents.

The homes were not single family homes in hip expensive neighborhoods. They were suburban apartments or town houses for those who wanted a little nicer homes, or dives in the city.

I don't know why millenials aren't doing the same, ie getting roommates and living in less than ideal starter apartments just like everyone else. I think a lot of their housing issues are because they have a warped hgtv idea of what their first place should look like, and think they deserve more so they just decide to live with mom and dad instead so they have fun money and nice things.

I have no idea why they are too irresponsible topay off their college loans.

They might be educated, but they failed at basic consumer math when they chose to take out these exceptionally expensive loans for degrees that aren't marketable and from overpriced expensive universities.

They should not get their debt forgiven. That is unfair to everyon who met their debt obligation or who made better, more responsible choices.

+1

Anonymous wrote:

Anonymous wrote:I am an older Millennial. When I started working post law school, I received much unsolicited personal advice re finances ("I could save $2 a day by not buying a tall Pike SB coffee.").

I married well. My husband pulled another 7 figures this year. One cup of SB tall coffee a day is worth a pair of shoes to me now, and I have enough shoes.

I should be providing unwelcome financial advice to those who use to degrade me, but I won't. Not worth my time or energy.

+1. Thank you. I'm a Millenial in a similar situation, and I would never be so rude and stupid enough to unfairly stereotype an entire generation. To all the people condemning the young people moving back into their parents' home, instead of living by themselves, why don't you blame their parents for letting them do it? Why didn't their parents teach them good spending habits? I bet most Millenials who blow their money and don't grow up were never taught to prioritize saving, and are now encouraged by their lonely parents to come back to live with them.

Anonymous wrote:I am an older Millennial. When I started working post law school, I received much unsolicited personal advice re finances ("I could save $2 a day by not buying a tall Pike SB coffee.").

I married well. My husband pulled another 7 figures this year. One cup of SB tall coffee a day is worth a pair of shoes to me now, and I have enough shoes.

I should be providing unwelcome financial advice to those who use to degrade me, but I won't. Not worth my time or energy.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:You're right but you're actually off by a factor of 2 or 3.

The knives at DC Sharp -start- at $200 and go up to $1000+

the coffee is closer to $7. I got a candle that was $48 and the locally sourced meats and milk are more like 4x the price of Safeway (which is shit, by the way. You know this, don't you? )

— Gen Xer who can afford everything I just listed

$48 for candle? Crazy. And I thought Yankee Candle was a scam. I'm glad you can afford it now, but will you forever? Will you at some point in your life wish you has that $48 back, multiplied across thousands of purchases.

I'm always amazed at how consumer product companies can take a commodity item like a candle and through marketing price it at 4X it's old price.

If the old price was toxins coming out of God knows what China, then yeah. I'd rather know what I'm breathing into my body, or make do without.

Anonymous wrote:

Anonymous wrote:You're right but you're actually off by a factor of 2 or 3.

The knives at DC Sharp -start- at $200 and go up to $1000+

the coffee is closer to $7. I got a candle that was $48 and the locally sourced meats and milk are more like 4x the price of Safeway (which is shit, by the way. You know this, don't you? )

— Gen Xer who can afford everything I just listed

$48 for candle? Crazy. And I thought Yankee Candle was a scam. I'm glad you can afford it now, but will you forever? Will you at some point in your life wish you has that $48 back, multiplied across thousands of purchases.

I'm always amazed at how consumer product companies can take a commodity item like a candle and through marketing price it at 4X it's old price.

Anonymous wrote:I graduated from college in the early 90s and no one was buying houses right out of college.

Everyone either had roommates, or was married. Some people stillmlived with their parents.

The homes were not single family homes in hip expensive neighborhoods. They were suburban apartments or town houses for those who wanted a little nicer homes, or dives in the city.

I don't know why millenials aren't doing the same, ie getting roommates and living in less than ideal starter apartments just like everyone else. I think a lot of their housing issues are because they have a warped hgtv idea of what their first place should look like, and think they deserve more so they just decide to live with mom and dad instead so they have fun money and nice things.

I have no idea why they are too irresponsible topay off their college loans.

They might be educated, but they failed at basic consumer math when they chose to take out these exceptionally expensive loans for degrees that aren't marketable and from overpriced expensive universities.

They should not get their debt forgiven. That is unfair to everyon who met their debt obligation or who made better, more responsible choices.

Anonymous wrote:I'm an older millennial. I have worked like a slave, saved every dime, and now own a successful business and a $2.5m house. And, no, mommy & daddy didn't pay for it. OP, Go back to your cheesy McMansion in McLean and stick your head in a toilet bowl.