By - Thedepressionoftrees
Worked out great for my parents. I’m the same age they were when they bought their house and had me, and now I’m basically their unpaid live-in maid and therapist.
You're an extra in their life story sure.
Ow. That hits hard.
We’re all extras in everyone’s life story. Feel better?
lol the truth hurts- at least I’m almost out of student debt
being ur parents therapist is seriously the worst. hope youre dealing w it okay, i certainly didnt end up well bec im in dire need of a therapist of my own so thats fun
I'm still waking up and at first pass thought you said you were a live-in mermaid which must have been an interesting turn of events for all of you
Call lifetime now!!
I thought it was gonna be great living at home. My rent would be cheaper, I'd get to live with people who understand me, and I'd no longer have to hear my asshole roommate slam the door.
Nope. My rent is what a room costs market rate, and I pay a grocery bill on top of it. Internet bills are mine, but they're not even in my name so I don't get any credit built off of it.
My brother decided he wanted a piece of this luxury and bullied his way into the storage space, which I had to spend two and a half days of work and five hundred dollars of my own money clearing out. He pays a grocery bill for the right to eat all of my food, and doesn't have to pay rent because he's autistic and I'm not, even though he gets more money from disability than I do CRB.
To top it all off, he slams his door like a lumbering thoughtless buffoon, and he's so petty and maliciously spiteful I'm afraid to even confront him over it.
I wish I had never given up my roach infested apartment. The roaches here are way bigger.
>doesn't have to pay rent because he's autistic
Wish that worked for me
Move to a different town, if possible. You could find cheaper living in a better apartment or home rental.
I know that's wayyyyy easier said than done but man has it changed my life with money. What I paid for a bedroom in DC is a 2 bedroom apartment in a "secondary" city in the US.
This. The winters suck, but come to the midwest. My mortgage is half of what some people pay in rent for a closet on the coasts, and jobs are plentiful and good paying for the area (Aldi distribution center around here is starting at $22/hr).
Yep! And you can finally buy a house or land and start becoming self sustainable with a garden and more!
^ These guys get it. My wife and I also met out in the DC area. We could afford a two bedroom (with another roommate that wasn’t in one of the city centers or on a subway line) but it took up most of our income so there wasn’t much keftover for savings. We moved to a Midwest city and our income stayed neutral but we were soon able to purchase a 4 bedroom house with a yard in a great neighborhood with a mortgage nearly half what our apartment had been.
Yep. Have a 4bd/2ba house with a shop, home gym, garden, fenced in yard for the dogs, shed, and a 2 1/2 stall garage. All for under $200k right in the middle of my midsize city.
I did just this. I bought a 3 unit building on a river (but out of a flood plane) for 6g down in a secondary city 50 miles from a major city. I pay less for this place than I did for a tiny one bedroom with no amenities - not even a washer and dryer onsite.
I moved from one of the most expensive and glamorous cities in the world and haven't regretted this move one bit.
If my kids needed to live at home I wouldn't be charging them rent (unless I was secretly investing it for them or something). The point of doing something like that to me would be to help them out and let them save up some money
You’re the NPC to your parents’ main character story. When they go, the game will be over.
Honestly if my parents didn’t help me out these last couple of years I should have ended up living with them. No way I could have made it through college and I worked a full time job.
TBH a lot of the parents try to pay our millennials rent so you don't move back in with us. lol!
Same I am grateful my parents have helped me just the right amount. I'm graduated and still looking for a career but have the same job I did in college and I pay all my own stuff except Insurance because, well it's already paid til December and my phone bill bc my dad works for the company and we get a half price family plan
But look at the bright side.. a few ultra rich dudes got to fly giant penises to almost space.
it'll trickle down now....aaaannnnnyyy day now.
I hope you mean the money will trickle down any day now, and not anything from the giant almost space penis.
At this point I'll take anything
( ͡° ͜ʖ ͡°)
Oh no, I got my hand stuck in the exhaust port.
Take a shit job and shut up.
Protein shakes for everyone!
I believe he was referring to the space penis. Not to worry though neither will trickle down
Is the trickling down when they urinate on you from their spaceships?
would it come down frozen like dippin dots??
Probably better than it still being liquid.
With a bit of luck it will hit another billionaire on the way down.
we can dream...
351,000 feet is a long way for a dollar bill to fall assuming it even hits land. Also it’s 1$ at a time people, no Benjis
The only thing trickling down is the emissions and waste from the giant space penis.
Maybe it will start trickling down if we hit them hard enough.
Like a piñata.
Aaaaaannnnnyyyy day, just wait a little longer.
And wear made up uniforms and call themselves astronauts. Billionaire cosplay.
They know exactly what they’re doing: *Escape From Earth,* the series.
Earth is paradise. It’s everything we would ever need and then some. And instead of adapting our population’s habits and lifestyles to sustain it, we’re collectively sponsoring the delusion that we can live without it.
exactly. like yeah sure lets get to other planets, insure the survival of the human race, but we are destroying the one planet we know we can use.
How are the millionaires supposed to become billionaires if they stop exploiting our planet and everyone living on it like their step ancestors did?
That’s another thing, if you take your average classroom globe and lay a dime flat on it, that’s about how far they went into space while people are starving down here.
One day i will let my own cock rise into space, mark my words!
If every year we killed the richest person on Earth in a telivised ritual I think the world would be a much better place.
And make documentaries about it like anyone cares or appreciates that they ripped people off enough to be able to afford it.
They expect us to worship them for some reason.
I'm gonna worship their meat, when we finally get to eat them :)
Of all the blatantly insane shit billionaires spend their money on, I have trouble looking down on sending random people to orbit for a couple days.
I maintain hope that at least *some* of them will come to the realization that the crazy blue-green marble they've just seen in its entirety is *all humanity has.*
10's of millions of dollars have been spent on far more frivolous shit than that kind of (potential) perspective shift.
I’ve got a kid about to enter medical school while I’m still paying off my own Student loans
Student loans are just stupid. I have $200 left (I only took out $8k and paid it off in 3 years luckily), dammit I wish for you and everyone else it could be erased. College needs to be cheaper.
On the brighter side, congrats to your kid 🤗. They will do great!
I have $63,000 in student loans, graduated from college in 2013, and still haven't started paying on them. I've used up all my deferment hoping to be able to make ends meet and start paying on them. If things go as planned, I'll finally make my first payment in December and I'll be over 120 days past due by then. I'm 35 and I'll be paying this debt off in retirement.
That is so fucked up. I really have nothing to contribute but this, that really sucks and the system is beyond fucked up.
I graduated from dental school with just over $300k in debt. I did 2 years of community college, went to in state schools, and I still ended up with an absolutely absurd amount of debt. The system is fucking broken.
It's by design. It's diabolical, really. The high price is put there to gatekeep valuable jobs for the social and financial elite. Not only that, but in a twist of pure sadism, it's also designed to punish and make an example of anyone ambitious enough to follow their dreams, and simultaneously sabotage any attempts to climb the socioeconomic ladder by saddling them with debt and limiting their disposable income necessary for growth.
Oh no, but really. *Anyone and everyone* is free to be *anything and anyone* they wanna be, so long as they work hard, keep their nose clean, and pay their taxes!! Bullshit, what a load of fucking bullshit.
It was Regan and conservatives that ushered in the current debacle that is college funding. Don’t get hung up on R or D because back then you had liberals and conservatives in each party. It was Regan that started the drive for conservatives to flock to R and liberals to D. That’s why you saw massive collaboration between the parties on bills before the 80s. It fell sharply off after that.
I agree with everything you wrote- it is by design and meant to punish anyone who dares to try to move up socio-economic ladder. I come from a lower middle class upbringing. That said I’ve had incredible privilege - I’m white, I’ve had no major health issues, I had a parent work at a university so I went for free, I worked my ass off to get a masters at night while working full time (and got my employer to pay for it). I have been grinding for the better part of two decades. I had “side hustles” basically until I had kids. It is only now in my late 40s that I am even starting to feel some fleeting sense of financial security. Mind you I’ve been quite responsible with money. But at EVERY turn, I’ve had to work 10x as hard to get to the same place as people who started at a wealthier background were at. I’m surrounded by people who don’t work anywhere as hard as I do. They have family who give them money (hundreds of thousands, in some cases, millions) to use towards mortgages for gorgeous homes, to pay for their kids to go to private schools, to go on vacations. It kills me that I fall into bed exhausted every night while these smug fuckers are living the high life while doing so much less. I am working very hard, however, to ensure I can at least give my kids a better start than I got. I cannot even fathom what it would be like to be black or Hispanic. That is a whole other level of fuckery.
How is this possible? 6 years @ $50k/year tuition? Or did you take a little extra for other expenses?
You have to remember that in dental/med school, you can’t possibly have a job for a source of income. So it’s 4 years’ tuition plus living expenses, food, rent, groceries. A lot of people that go to those schools are from wealthier families, so it’s not a universal. But it’s very easy to hit $300,000-$400,000
The average dentist in the US earns $180k/year. So student loan debt is about 167% of average income.
Like u/chubbyboar said, tuition is $50k/year but I had to take out extra money for living expenses since my full time job was dental school. It’s not unusual to see $500k from students graduating from private dental schools, I’m fortunate I was accepted to a good state school.
Same. If I continue to pay my exact monthly requirement, it will take me 12 more years to pay the remainder
Remember to not just pay off minimum balance. Thats how you stay in debt forever.
Also, pay your most expensive debt first.
Do not get into credit card debt as those rates go up crazy … like 20% plus. Not sure how that is even legal
Live below your means and pay off your debts. Then still live below your means and save for your future.
I know it’s easier said than done. But that’s the advice I got from my dad. Well to be honest, he said put 25% of your income aside (in a bank) and pretend that doesn’t exist. Live with the rest as best as you can.
Best of luck.
I wish that someone whose opinion I actually respected, like maybe my parents, had taught me this when I was younger.
Growing up, not a single adult in my life could even get a credit card. Just addict-level gambling, payday loans, and bankruptcy for us.
Generational poverty is so, **so** hard to break out of. Especially considering that by the time you grow up and realize that this is definitely not the way to go about things, you’ve already been irresponsible and made big financial mistakes that will take *years* to correct. Or until you can get yourself to a position of making good money.
Or just until you hit it big at the casino….
Exchange casino for meth and you have described my parents, childhood and the financial strategy set upon me. I still haven't had my own money, like sure I get paid, but I already have it spent out, I'm just holding it for a rich person.
Fuckin same. I feel like I’m never gonna get out of it.
I get so mad at them for it, even though I know it’s my life and my responsibility to live it correctly. Like, they really couldn’t just get it together enough to make it through even a few years of stability? Really? Fuckin lame ass douchebags.
I just moved country.
Whats your undergraduate degree in?
That is so sad. I’m sorry. Also I left america so my kids wouldn’t have such burdensome loans
I got bashed for this for not, "Being responsible", but I took a $4200 loan for school in 2001, after having 2 kids, to "Do things right". Get an education, get a better job, able to better care for the kids.
Well, 1 more kid, and every dollar stretched to pay bills and food, I defaulted on it. Yes, I should have made some phone calls, I didn't.
Well, 12 years later, a divorce, and a job in an industry I did not go to school for, I got a garnishment letter for $1000 a month for that loan, to pay back a total of $12.8k. They took all of it.
Now, I'm glad it's paid, and something I don't have to worry about. And even more glad that I was making enough money that that didn't completely break me. But for a year, I was back to stretching every penny for rent/food/bills.
My issue is, a $4200 education loan should NEVER be allowed to go to 3x the original loan value, regardless of the circumstances.
now, imagine of that was a 40k loan, and the same situation happens. That person will never get out of debt. I have friends who have paid the minimum required for a decade and more, and still the balance has barely moved.
They are essentially paying a monthly maintenance fee to not get sent to collections.
Another fun fact: School loans are one of the FEW collection items that have no expiry.
And one more fun fact: School loans defaulted on are the only collection that doesn't require a judge sign off for garnishment of paycheck.
The whole loan program is a scam, of the highest order
I'm 80K I'm the hole. I have a nice salary job (more than any of my friends i graduated with), but it didn't stopped me from living at my mom's this year to try to focus paying it off. It is depressing I'll still have debt after focusing heavily on paying it off (+$3K a month). It's even worse to think I'm one of the fortunate ones.
Wow I didnt actually know it was as bad as the comments here... In Australia we get HECS, which is a no interest (or it used to be) loan the government automatically gives you. You just tick the box when you enrol in classes.
How education is so expensive is honestly so depressing...add to that healthcare isnt free and I am honestly surprised neither party has changed it.
In the US, student loans were originally given by private banks but guaranteed by the government. The interest rate was set by the government but highly influenced by banking companies giving the loans. Most loans were around 6-8 percent originally. However, Obama essentially revamped the student loans program into a Direct Loan program so now all student loan come directly from the federal government. This was done with an eye towards severely lowering interest rates and eventually canceling or forgiving debt to avoid a financial crisis…
We’re still fucking waiting on that last part though…
This is false. I have private student loans and they are most definitely not from the government. All this talk about student loan forgiveness will do absolutely nothing to help me. I'm going to be paying off my loans into retirement....if I even get to retire at the rate we're going.
I also received private loans (federally guaranteed). However, they were rolled into the Direct Loan program sometime in 2008-09.
Well how tf did you manage that? My private student loans have always been just that, private. No feds involved.
I think they're confused as to the types of loans available. Before 2010 there were Direct, FFEL, and Private loans. Direct came directly from the government (I don't believe these were common before 2010), FFEL came from private lenders but were backed by the government, and Private came from private lenders without government involvement. After 2010 FFEL were no longer issued and it's either Direct or Federal. Almost everything you hear about something being done with student loans (forgiveness, pausing payments, etc) is *only* going to cover Direct loans.
You can roll your FFEL loans into a Direct loan but it becomes a new loan and you may lose any benefits from your old loan (fixed interest rate mostly) and I don't believe the Direct loans credit you for past payments (if there's a program where you pay for x payments and it's forgiven, they don't count FFEL payments). Generally, at least when I was graduating, you were always advised *not* to combine your loans because if you combine Direct/FFEL with Private you lose out on a lot of benefits of it being federally backed.
Oh, I see. My private loans were awarded through the FAFSA. Basically, the federal government guaranteed the loan, but the actual loan was disbursed by Arvest Bank. I think that when the Direct Loan program started, they just took the federally guaranteed loans and brought them in house to the Department of Education. If you got your loan outside of the FAFSA program, then they didn’t pull them in. You may be able to pull them in by applying for a Direct Consolidation Loan, but I’m not sure if completely private loans are eligible for that
At least your kid is going, I wanted to be a doctor and I missed out because I simply could not afford the college fees.
This economy is so fucked.
I don’t even want to say how much I have, only that I went to pharmacy school for two years and didn’t have the ability to start paying on them for a decade. I was in school the entire time finishing my bachelors, taking some classes to put off payments, then working on and finishing my master’s. But I could buy a decent house (before covid fucked everything).
Lol this is my future. Still ten years to pay off my student loans and my oldest is 15 1/2. Unfortunately, not sure my kids are interested in college at this point. My student loans paid off though. I have a good wfh job.
Is there actually a system?
Yep. A very simple one. Be born into money or get fucked.
As absurd as it sounds this is legit! The Brookings Institute did a study and you know what the number one trait that determined if you would die a millionaire? That’s right…it was being born as one.
But also need money to get fucked
Agreed, but that points to a lack of a system. The ones getting fucked could easily take all the money! (FBI, if you didn't know, I'm just kidding!)
Eagerly awaiting getting fucked again!
Or both if your parents refuse to help you 🙃
"Then they shouldn't have been whiny and ate a down-payment's worth of avocado toast!"
I remember that time I ate $20k worth of avocado toast. No regurts
I would have to eat $200000 of avocado toast to have a down payment for a house anywhere near my parents. And they wonder why I'm depressed and can't be bothered to get off ei... I refuse to pay upwards of $1.5M on a house worth 400-500k on a good day
I always wanted to buy anabandoned house on my street once i get a job and what not. They used to be 200k, now my literal neighbor is selling for $2.1 million.
I dont think im going to be able to afford a house on my street.
>I remember that time I ate $20k worth of avocado toast. No regur**gita**t**ion**s
You can make a down payment with 20k? Jesus dude, in Colorado you usually need like 80.
$20k is a down payment on a down payment
Readjusting the New Deal for inflation will help. Believe me, I did my dissertation on this.
Could you elaborate?
I've had arguments with people in Reddit about this, not believing me. So I won't argue the point, I'll just tell you.
Here's the gist and the simplest Way I know how to tell it: Roosevelt's New Deal created the middle class. Minimum wage was created in 1938. It was a $1.60 an hour. In today's money, adjusted for inflation, that would be between $21 - $24 per hour.
The economy was spectacular during those years.
People were buying homes out of catalogs, single family breadwinners, the whole nine.
Minimum wage stopped keeping up with inflation in 1968.
If people today made a minimum wage of $22 an hour then that means it would be paying more in taxes. That means they would buy more things.
It's not free money. This isn't welfare. This isn't universal income. It's minimum wage. The minimum working wage. The minimum that was determined that people *need* to earn.
Well what about inflation?
That's the thing. The wage used to move with inflation. So it would again.
The average take-home pay of a $15 per hour worker after taxes is about $24,000. Assuming that this employee is getting a full 40-hour workweek and is not paying for medical benefits out of their salary, which many normally do so.
The federal poverty level (line) for individuals is:
$17,420 for a family of 2
$26,500 for a family of 4
So, should the worker have only a spouse and is not paying for medical benefits, they are living just over the poverty line on $15 per hour wages.
Should that worker have a family, they are earning wages below the poverty line.
It is also worth pointing out that many workers that are by-the-hour wage employees do not receive 40-hour workweeks. Many receive less than 32 hours per week.
Should workers be earning what minimum wage was supposed to be with the New Deal, they would spend more. More money from income taxes, more money from sales taxes, more money to businesses and the general economy.
You wouldn't have to "Tax the Rich". There wouldn't be a tax loophole to exploit. There would be the increased revenue stream from the American people.
We would then have better schools, infrastructure, and far less poverty.
So, adjusting minimum wage against inflation since the time of the new deal, would make things better.
Another super valid point to add to this is that productivity (i.e. real value of produced goods) has continued to increase, and workers are getting a smaller share of the value of their labour.
The evidence continues to point to the economies inability to support billionaires. They simply do not spend enough money to close out the supply and demand loop efficiently and represent a massive economic leak.
Federal Reserve Bank of Chicago estimates that a $1 raise for a minimum wage worker translates to an additional $2,080 in consumer spending by their household over the course of a year.
Better paid workers tend to work harder, and payroll incidentals such as wage theft and sick days occur less.
For small businesses, having a higher wage for their employees means more productive employees. More spending power for everyone means small businesses will reap the benefit offsetting their higher labor costs.
One of the first types of spending to increase when workers get raises is dining—an effect that will provide some relief to the struggling restaurant industry. The increase of spending by low-income workers on household necessities and other consumer goods will help boost the economy and boost the revenue of small businesses.
All they did was take $1 * 40hr * 52weeks. In other words minimum wage workers spend 100% of their income.
Which makes sense because if you've ever been minimum wage before you know the margins are obscenely tight. Like I used to freak out at my then fiancee over spending $60 unexpectedly. Or even worse I used to put things on the self checkout as bananas so that our grocery bill would be lower which is straight up theft. And that was all while living in a roach filled apartment in a relatively undesirable part of town (think car break ins and petty theft but not like, murders on the corner bad). We were probably spending 110% of our income regularly even with a budget. If it weren't for cash tips and literal crime we wouldn't have had food every day.
Sad truth is that the average worker doesn’t get 40-hours a week either. Especially on minimum wage.
Yeah no kidding. Between the two of us we had 5 jobs at one point. I had 2 part time and was taking contract work on my one day off a week and my wife was working a morning shift job and a night part time job. And we were BARELY paying all our bills. I was averaging 15-25 hours a week each at the two jobs so just barely equal to full time some weeks. Sometimes even less if they hired anyone new. And contract work was lucky to find. It's a fucked up bucket full of crabs.
Yep and this shit was figured out with the robber barons of the late 1800s and early 1900s and since we didn't tax them into poverty they've purchased preference in the political system.
Yes but think of the business owners! /s
I would be very interested in reading your work, it sounds fascinating. I assume tying the minimum wage to inflation would act as sort of a disincentive to raising prices because the business would then have to pay their workers more, to deal with the inflation they contributed to which we know they love.
Ahhh I see.
But how would the businesses pay minimum wage when most scrape by? Is it a matter of the system being broken for so long, if they take the jump now it will cripple small businesses?
I’m also guessing that the corporations dodging taxes has widened the disparity even more… everyone doesn’t pay their fair share so now the people at the bottom get fucked.
Businesses would need to run better. Of course, they probably could, because massive companies that price out small business with scales based on worker exploitation would die.
As FDR put it, “No business which depends for existence on paying less than living wages to its workers has any right to continue in this country.”
I disagree. It might screw over companies currently running, causing havoc in the short-term, but it would ultimately force companies to trim the fat. Instead of expanding at the speed of greed they would have to improve their bottom line and shore up capital leaks. Companies now just grow as fast as humanly possible, push all the money into execs and infrastructure, throw peanuts at the workers, then call on the government to bail them out when shit goes sideways.
Ultimately, from the way OP described it, I would anticipate smaller and fewer, but STRONGER, companies.
I have a small business I started in 2008 that I could have expanded with overseas manufacturing and hiring a staff. I decided not to and keep it just myself and occasionally an assistant that I pay a decent wage. My little company now makes barely over 6 figures now and I am very happy! I drive a 2006 Chevy, I live in a beautiful home I bought for a very modest price that has a separate apartment for my millennial that is stuck living with me for the rona times. I'm a gen Xer btw. I refused to believe that tons of money is success, or that having a bunch of material objects or the newest car is success. My micro business was the best thing I've ever done and I don't get exploited by boomer assholes anymore. I really hope more people take the chance on themselves and figure out how to work for themselves. It was the best chance I ever took.
Also I was a student loan fugitive for 20 years. I had to pay that shit off for an FHA and it was a tiny amount compared to you poor millennials. I will keep fighting as hard as I can for STUDENT LOAN FORGIVENESS. It's a goddamned crime what happened to you guys.
Ease into it and reduce "excess capital". Sure, employers can't jump straight to $25/hr, but they can work on aggressive raises as they can afford them. It just requires the shareholders/ C-level people taking reduced raises. Not a cut, just reduced raises.
My small business has been doing this and it pays back in spades. We started paying $15/hr and are doing $1/hr raises every 6 months for everyone. The goal is to get to $24/hr as soon as we can, even if it takes a few years.
Before the raise it seems like "how can we pay for this?". After taking the plunge, employees are more motivated and they bring in more money to the business, making their pay more affordable to us. It also means we don't have trouble hiring during this "labor shortage" that is really just people demanding fair pay & working conditions.
That’s good to hear, and very respectable.
"readjusting the New Deal" is an odd choice of phrasing. If you're referring to the min wage, the more common terminology is "indexing" the min wage to inflation.
I'm in my early 30's and had to move back in with my parents after getting furloughed during the pandemic. Life isn't affordable, even with a degree I have struggled to find a job that pays a living wage. Even before the pandemic I had 4 roommates since it was the only way we could afford a place to live + bills + spending money.
Hi, 27 year old here who is having to live with his parents still. I have my bachelors in Finance and going for my masters. I have well over 7 years of solid work experience (although not collectively in the finance industry), have applied for over 15 jobs in my area with no correspondence from said companies, cannot afford to buy my own home due to the exuberant pricing of homes in my area and rent is more than that of a mortgage payment.
I luckily have paid off my undergraduate student loan debt but will most likely incur more through my master program. It makes me furious knowing that when my parents were my age, they had their “forever” home, two kids, full careers, and a stable financial life. As much as I want to move and have my own home, it’s financially impossible, at least for the time being.
It is very frustrating and I get told all the time “when are you going to get a place of your own and stop living with your parents”. That question haunts me because I am asked it so frequently.
What kind of jobs are you looking for? I'm in a similar field and it isn't hard to find really good paying work. Also, a masters is a complete waste of money
I’m trying to get into the finance industry because I currently work in logistics (which is a total shit show). Everywhere in my area requires specific experience since I’m looking for an financial analyst role. I knew a masters may be a waste but trying for my CFA would be much more beneficial. The only thing I’ve heard back on are jobs which would require me to take a 10k a year cut, which may be what I need to do to get my foot in the door.
System works just fine! Look at me! i worked hard and got where i am without any government assistance. Well except for that one time we got food stamps, oh and that OSHA settlement from my roofing job was nice too, oh and the down payment my parents gave us for our lovely home.
But other then that, all me! So clearly, you're not successful because you never worked hard in your life. And now you want handouts? Now you want help while sitting on your ass? Never!
Big Fat /s in case you were wondering. But is it even satire when this mentality is so prevalent among right wing voters all over the world?
Lmao remember that article about the woman paying off her student loans or something with a modest income...and it was something like her parents or grandparents bought her a house and she rented it out or some shit?
The huge backlash forced them to change the title of the article cause it was misleading in like "How she paid off a loan while making $X"
My parents love to loudly complain how horrible communism was.
Guess how they got their apartment? From the government, they had to register and pay 1 time fee (twice the monthly minimum wage) and wait 3 years for it to be built.
Now their apartment is worth 156x more they paid for it. If I saved for 60 years I wouldn't be able to buy a flat like that. And they got it basically for free. This is hysterical.
At this point I think it’s pretty fair to say we’re living in a second Gilded Age
Unfortunately I think we are past the point where change will happen without extreme measures. Industry wide strikes for starters.
We forgot what a minimum wage was supposed to be for and have trained a couple of generations to believe it was supposed to be a starvation wage.
Everyone lives in fear of losing what little they have. "Don't raise THEIR wages, it will cost ME more."
Or worse yet, they are angry about someone else getting something without the same amount of suffering they went through. Not acknowledging that it is wrong that anyone should have to suffer like that.
"Why shouldn't THEY have to work three jobs, I had to!"
Instead the employees that work minimum wage jobs are given food stamps to help offset the low pay. Food stamps that tax dollars pay for, so that corporations that make billions don't have to pay a decent wage.
We fight amounts ourselves while those at the very top use an army of accountants to avoid paying their taxes and use an army of lawyers to keep from paying people more than the bare minimum.
It's disgusting and it won't hold for long.
Don't forget the "we can't pay burger flippers "blank" an hour! I'm a "insert technical specialist trade" and only make "blank" an hour! Thats not fair!"
Yep! Completely missing the argument that if burger flipping is so easy, then tell your boss, I am going to quit and flip burgers if I don't get a raise.
Either 1, this guy wouldn't do that because burger flipping is hot, grubby, tiring job (which is true) or 2, they have less balls about asking for a raise than they do keeping others down.
Folks gotta stop acting like "low skill" wages aren't worth paying decently. Everything from a restaurant dishwasher, (hot, gross, long hours, literally eats your skin off), to a shelf stocker, (back breaking, long hours, knee destroying), deserve decent pay. These are "low skill" jobs but they are painful and labor intensive.
Toss on top of it that these jobs frequently cause injury and we have a society that doesn't believe health care is a right, and you are literally ruining people's lives.
Sorry, I am ranting. I just wish more people cared about the suffering of others.
I wish line cooks made better money, I had a lot of fun in the kitchen. I would drop my career for the right income to go make burgers and frys. The only hold off would be the loss of my benefits. Profit sharing, 401k matching, pension plan, great health insurance. No restaurant I've worked could shake a stick at my current benefits.
The system is a pyramid scam.
Indeed, the system works exactly as designed.
Thank you for sharing this and thank him for saying it. I have done everything right. I am a lawyer with 6 figures and I can’t afford a home and children. I can afford super nice rentals and public school but if any of us gets sick or has special needs, we’re on the street in max a year. Why???
Huh, I always wondered who’d be spending on expensive rented homes rather than buy. What’s stopping you from affording a home may I ask?
Edit: While the person I asked absolutely doesn’t need to answer me, it’d be good if I didn’t get answers from people who don’t know and just like speculating. Thanks, but I asked this person for a reason.
My limited knowledge of this is; Many mortgages are similar to rental prices so why not just own? when buying a home you of course need to pay a down payment and then borrow the rest from the bank. Well, when we own a home rather than renting, then we have to pay the repairs and renovations ourself and this is something the bank takes into consideration when deciding if they wanna lend you money - can this person afford the unforeseen costs of owning? That is just one point that can stop people from owning. Then there’s the down payment which not everyone can save up for.
Yeah I get why that might affect someone like me that’s living pay cheque to pay cheque and can’t scale back any further but why can’t a lawyer with six figures and no children not afford a regular house?
Depends on their expenses. Maybe there’s a high loan pay back rate mixed with a high cost of living area which keeps them from having much spending money or money to save for a house yet.
For a long time I had a poor credit score because I didn’t like credit cards/purchasing on credit. Took a few years to build up credit. Then I got a loan. I am in Los Angeles and took my loan approval letter to a realtor who literally laughed and said, “You can’t buy anything with that.” So now I need to raise 200k in cash. The mortgage payments are like rent, you’re right. But the sticker price on the house is a whole other story. Also, I know LA and am shocked at the amount people are paying and what they are paying for. I am not interested in gentrifying a low income neighborhood or buying a fixer upper for 1 million. I’ve been looking, people. Now I’ve got to leave my home town because I think 1.2 million is too much for a 2 bedroom shack. Even if the mortgage costs the same as rent, that is a lot of money for what you’re getting. Then there’s property tax and maintenance. Blowing my entire savings and then some to have zero dollars left and a house... I don’t know. I also know I’m not the only person my age struggling with this.
It definitely depends on the area. Depending on the market, renting can be almost twice as expensive as the mortgage. Source: me lol
One explanation for renting an expensive home is to be in a high performing public school district. If you can have your child go to the best public school in the state instead of paying private school tuition, and can't afford the actual purchase of a home in that district, it may make sense to rent.
I doubt that covers all of the cases, but that one actually had some sense to it.
Oh it’s working EXACTLY as intended.
The system isn't broken. It's working exactly as it's intended to. We need to change the system.
Trickle down economics , or something.
so - serious question. do we commoners really think that a broken system will fix itself from within? if we do not believe this, yet aim for a better world for ourselves & our posterity, then do we realize the implications of what we ourselves need to do?
we need to post more on twitter & complain! obviously. no but really
You can't get this fucking nation to agree to wear a damn mask and get vaccinated in order to save lives or bring down a damn plague curve and you want us to organize on that scale?
Very true. I think we need someone to lead us. Do you have a, say, tactFUL ogre in your tribe?
You don’t have to go to university and pay a fortune, you can go to college or learn a trade. I went to school for massage and after two years of school I’m making $70+ and hour working for someone and $120 an hour when I work mobile. I did get some school debt, but less than $10,000. There are great jobs and in demand fields, but too much emphasis is given to spending 6+ years in university getting a degree or master’s that might not even lead to a high paying career.
There are also lots of cheap rentals, everyone just wants to live in a brand new condo in the heart of downtown. I pay the same for a 3 bedroom as my friends do for a bachelors, and I live right on the subway line and can be downtown in about 20 minutes.
I always see so many people whining about their life, when so many people who took a trade or did college are making good money. It’s all about your focus and choosing a career that’s actually in demand.
Not everyone has the option of living at home, I’m glad my parents didn’t give me that option as it made me work my ass off to be self sufficient. I have ADHD, Dyslexia, a learning disability, and suffered from emotional and sexual abuse growing up. I got dealt a terrible hand, but I’m pretty proud of what I’ve done with my life. Anyone can make it, it just takes a lot of work and effort (and a positive attitude helps a lot too). I’ll never fly into space, but I have realistic goals and dreams that I’m well on my way to achieving.
The system absolutely works.
The question is *who* does it work for.
There’s still time if you’re able to get experience in the trades. Check into state grants and such.
Another option is getting hired as an over the road trucker. Companies will train you, get you your CDL and pay around 50k for new drivers. Takes like two months to get that going.
I know those suggestions do nothing to fix the system, but it might help the material conditions of a few people who are able to pursue them.
Crippling debt that cant be bankrupted. Almost seems diabolical how well planned this was by government. Most student loans are from federal government aren't they?
we were told to go to college for our futures. it's a scam.
I'm a young adult who lives with his parents! Just got employed for a job that pays $25,000 a year after months of searching! Expected to make at least $40,000 - $50,000 with my college degree but it's better than nothing! Hopefully the future generation will have it better than us. I'm in mad debt but I believe I'll fully pay for it... one day at a time.
This is the hard truth millennials had to learn. Get an $80k education and then get a minimum wage job. Hell, after the great recession, most full-time jobs in my area were turned into perma-temp jobs. So you could slave away at a job for years and never make it to full-time employment with the company.
I see you're still optimistic about it...but you should know that without changes in the future, this life that most of us are born into, is not sustainable. I'm almost 40 with 2 degrees and I'm still not making what I think I should be. And thanks to boomers never f-ing retiring, I'll never get to the level I should either.
Parents are partly responsible for this behavior also by relying on the children as their own therapists.
Far too many single parents in my area groom their grown children to remain at home out of fear of living alone.
I’m so tired of seeing this fraud being posted everywhere
Living with parents is beneficial and saves money, unless they’re actually huge dicks, but if they aren’t stop whining and so your fricking chores
Living with your parents isn't all bad
That’s assuming that ones parents aren’t toxic or abusive and live close by to where you wanna work (pre-Covid)
Key part here. Your parents don't necessarily live where good jobs are or ones in your field.
Anthropologically, the idea of neolocality is relatively new. In fact, in some areas of the world, the idea of neolocality is considered wasteful and diluting of a family's power in a social hierarchy. But in the West it's pretty common due to our overall wealth.
Maybe if you have a good relationship with your parents and they treat you with dignity and respect. Unfortunately, not everyone is that fortunate.
If you hate your mental health and love complete lack of freedom, yeah it's pretty great.
It's unbelievable how much they fucked us over and the best part is there is no guarantee we will ever be able to fix this shit.
What means educated? Taking a class and getting a grade? We spend about 20 years or longer in the classroom. We get out of school and actually know nothing. Ever think Were learning all the wrong stuff and not actually educated at all? Just learning about stuff that doesn’t matter. This isn’t going to stop until people put their foot down. Literally 2 years of college is general education and a repeat of high school. Dumb English and writing classes, dumb art and music classes that are for some reason required. I’m tired of it. And I’m tired of people thinking they are educated because they spent a few months listening to a lecture. How about they ban 4 year school. 2 years only. And no general classes. Only specialized. What would be the issue with that. Out of the 20 or more courses I took In college maybe 3 or 4 were actually useful at all. How is that ok
It was more useful when people had a lot more subpar high school education and when they got to college it was much more indepth even if they weren't learning everything that was needed for their career. They were actually learning things that could not be taught to them in their small hometowns high school and they didn't have the opportunity or resources until they got to college. But now that's pretty much all obsolete since we've upgraded education across the board. Colleges no longer need to teach general education, your high school diploma should say you learned it and if you didn't, then you probably shouldn't be going to college. You should be immediately taking classes on what you want to major in and using the time you would be spending on general education on internships or volunteer work in the field you want for experience.
Absolutely. I have never needed English Literature, Humanities/Socials/Arts, or Calculus in my work life. The Physics and Chemistry are arguable as they tie to fundamental layers supporting modern data communication, but I probably don't need to know why lasers work inside tiny tubes of flexible glass to do what I do.
Violence may not be the answer but it's a answer.
"Violence is not the answer." of which I am hastily reminded of World War II.--Richard Jeni.
I totally agree but this is literally posted at least once per hour at this point
Isn’t like living with your parents a good financial decision before you have enough money to buy your own house to move out?
What's wrong with young adults living at home?
What’s wrong with staying with parents?
Personally? My mental health would hit an all time low.
welp seems like I'm better off here in this 3rd world country
The system works for those who are in charge of deciding what the system is.
Why should they care if people who aren't them suffer?
It doesn’t help that more and more people are getting useless degrees and student loan debt is out of control because everyone is eligible for a loan for those useless degrees that have no return on investment.
The system wasn't meant to be based off of college and university education.
This is what happens when the state sells it's jobs elsewhere.
If my parents weren't so anxiety inducing and lived NOT in the middle of no where, I would probably live with them. Rent is expensive. But I value my mental health more than the amount I'd save living with them. I feel bad for those who have no choice.
Should tweet about it more. /s
"When I was your age" yeah the generation that ruined everything had it easier no surprises there. How does the phrase go "Easy times create weak men"? The world will have to pick up the pieces of toys left behind because a few didn't want to take responsibility.
Oh the system works perfectly, just not for anyone who isn’t in the top 0.1%
Yup, just got a raise and I’m still moving back in next month to get my debt under control, the pandemic was no help either
Ya but why do they live at home while everyone else goes out, gets a job and lives in their own. Because they are lazy & addicted to money. The idea of rent terrifies them … don’t blame other generations for their own degeneracy.
Do something about it then.
I would love to see the geographic breakdown of this data. I live in Kentucky, worked at UPS and another employer that paid my way through community college then a small college for my undergrad. My first home was 75k 5 years ago (probably 120k now). I paid for grad school out of pocket and the total cost was 13k. My entire college tuition for 6+ years of school was maybe 30k
Only if you feel that the multi-generational family structure is a sign of failure
They didn’t do everything they were supposed to. Not their fault since they were 18 years old but going 100k into debt for a worthless degree created this problem. I don’t any engineers, nurses, or any other STEM fields that are still living at home.
The student loan program should end. Schools have been increasing the cost of education because they know 1. The students will pay because they have unlimited access to loans and 2. The government will lend 100k to an 18year old with no income which is INSANE.
The system is working as intended. Just exploit and profit. That is the American way
I'm 20 and I'm living with my parents right now and I can say that if you work 24h non stop for 10 years and save your money, you can't even buy a small house with it.
P.N: I'm living in Iran and the currency is fucked up down here.
American youth Gen has way better opportunities than us I belive.
I don't know if this whole thing is just world wide or not?
Capitalism is exactly as it was described. The very very very VERY few benefit extremely. At the expense of everyone on earth. The reason it's worse than ever? Look at lines of ownership of media.. who tells the story ? And their narrative is, the team trying to work for you is to blame. And no the home team isn't perfect, no way, but they arent wholly owned subsidiaries of Big Biz either
Is this a recent tweet? The article he’s citing is from a year ago. Wondering what the data would be today…
I never went to college and didn't speak English when I came to the US and now have a good job and live debt free.
>Live with parents
Free food, free stay, i have a amazing job and get paid very well. Im very happy living with my parents. Thank you
Americans and their abusive family dynamics. I can never understand that. Living with your family isn't something to be frowned upon. As long as we ain't leechin off of them and if they're okay with it, why bother what others think? I want to take care of my parents when they're elderly as they've sacrificed everything to take care of me when I was younger.
I don't mean this as an insult to my American friends, just weirded out by how your society think sharing a house with your parents is a sign of failure. Unfortunate.
BURN IT TO THE GROUND
It will eventually burn by itsef, sadly with us in it.