/biz/ - Business & Finance

>>13199067
income: 5$ a month.

>>13199067
Yeah it shitty but don’t forget to factor inflation in and also location.

>>13199082
median income went up 2-3x while median housing prices went up 4-6x. Boomers sold our property to Chinese and to hedge fund managers because the current rent seeking scheme is using the millennial generation as rental serfs. Literal cattle generation. Now go slap the JUUL while your rent buys daddy a new speedboat :D

>>13199105
If you can’t afford a house in your area then you’re not qualified enough to live there. That is the issue that people overlook. Don’t be mad that you don’t make enough money to live comfortably in your area. Grind harder or just keep copin...

>>13199067
boomers killed the market

>>13199141
imagine actually fucking believing this. faggot boomer spotted.

>>13199067
Average income is double but the costs for everything on that list is like 10x.

Tldr fuck boomers.

>>13199168
You’re not smart enough, not skilled enough to live where you are if you have to blame others for your lack of success. Money knows no race or creed. Get out there and make something of yourself or self loathe for the rest of your life. I don’t agree with the market but it is what it is. No need to be on a basket weaving forum complaining about it. If you want it, go get it lil man.

>>13199216
nice bait

>>13199067
So to make the feels hurt worse the boomer's average income back then was like $90k in today's money.

Damn.....

>>13199216
>>13199141
It's got little to do with smarts or skills. It has to do with how willing you are to waste as much of your life away as possible making money for Shekelberg and collecting his table scraps

>>13199083
t. illiterate

>>13199216
You don’t understand the federal reserve, the petrodollar, qe, or inflation

The only one who’s not smart enough to be anywhere is you in this thread

Fuck zoning regulations
https://business.financialpost.com/real-estate/regulations-cost-single-family-home-buyers-an-extra-229000-on-average-study
Fuck housing regulations

>>13199256
>Little to do with smarts and skills
Okay lmao. Get out of the wagie mindstate and start your own company or something. Let me guess, you don’t gave the smarts or skills. Thought so

>>13199283
I never said this shit was fair, all I’m saying is people need to stop crying about it and make something out of themselves. Most people grow up thinking working a 9-5 is what they’re supposed to do. Small percentage of people have the Brain power to realize that isn’t the way to go. What can I expect though, look what forum I’m on.

>>13199256
Also this. When bankers are capable of seeking rents indefinitely, there’s nothing to do except either be a freak autistic genius and make money on the edges of this system through market making, get lucky starting some software business, or waste your life wageslaving

>>13199141

Following this line of thinking to its logical conclusion, a very large part of the U.S. population should be deported to the third world where they are "qualified to live". This leaves the U.S. with the mother of all labor shortages.

>>13199310
I’m not saying it’s impossible either. It clearly is possible , and in some ways there are better opportunities than ever

That being said; the average guy with average levels of motivation who would have survived quite comfortably 50 years ago when central banks weren’t stealing that much of his money through inflation, has a right to be angry when money is ACTIVELY being stolen from him to support single moms and illegal wars, and politicians pockets, especially when boomers repeat erroneous tropes like “just work hard at your job and you’ll work your way up”. Wrong. Most jobs today are complete dead ends that suck your soul and never give you any meaningful skills to do anything or make any serious money

We’ve gotten to a point of financial Darwinism where if you’re not in an elite tier of meaningfully skilled people, you’ll never escape where you are. Many times this barrier is genetic, and if you don’t believe that you have never seriously competed at anything at a high level, whether it be academics or athletics or software

>>13199368
That’s just how it is. Can’t be mad at others for your whatever you lack in life. Not getting you anywhere.

>>13199067
Just buy a plot of land in the middle of bumfucknowhere and build your own comfy log cabin.

>>13199316
You don’t have to make software to be rich though. If you believe in yourself, take a loan out and start a trade company, start doing plumbing, HVAC, drywall. Some just don’t want it enough and are complacent being a wagie I guess.

>>13199067
>Go to Japan
>Buy those fancy abandoned house
>Only cost from $0 to 4 grand at true baby boomer prices
>fix up house
>pay taxes
>live a carefree silent life

people in the states living a shitty capitalistic life!

>>13199141

Small basic homes shouldn't be at half a million dollars, ya dolt.

>>13199310
Where is your funding going to come from to start a business?

I live in Toronto where the average house is around $1 million CAD. I can tell you for certain that the vast majority of people living here are not particularly smart or skilled. Most are NPC's who have no problem living their lives up to their neck in debt, forever slaves to the banks and their employers. This is particularly true for our Asian immigrants.

>>13199407
Location, location, location. All small homes aren’t $500k and if they are it’s because there’s a strong/rich workforce in that area. Look at the Bay Area for example. It seems like this because of all the tech companies. Go to Detroit and you can get a small home for $50k.

>>13199415
That’s because Toronto has an advanced workforce in comparison to other places. Once you get away from it, you will find houses that are 5-10x cheaper. This was the point I’m making that some people just aren’t skilled/smart/ambitious enough to live where they are, comfortably.

>>13199407
They aren't if you stay away from the most desirable cities. The median home price in the US is <$250k. In cities with high cost of living, there are a lot of high paying jobs. If you're not qualified for one of those high paying jobs, go live somewhere cheaper.

ofcourse prices rise when rates go historical 1000 years lows, pension funds etc. seek returns they cant invest in government debt anymore with those rates you are looking either stacks or real estate then. however nothing goes up forever japan real estate increased 300% from 1985 to 91 then crashed 1991 - 2015. then tokyo slightly recovered and some areas are still totally empty

>>13199441
There's nothing advanced about Toronto's workforce. This city is overflowing with low skill pajeets working 12 hour days to afford their homes. Home prices have skyrocketed because our boomer parents decided to put our city on the world market and invite half of Asia into our country.

>>13199462
>250k.

Still a lot of money and a ripp off. Might as well rob banks.

>>13199371
Good post, have a (you)

>>13199426
>just live in detroit

Ay yo muh nigga mup do doo didda nawsayin cof bin dub ho muhfuggin bix nood

>>13199082
maybe check taxes and consumer price index values too, then check vs wage growth

>>13199415
>>13199489
This
>>13199441
The cities surrounding Toronto have average house prices of half a million. I have double the median wage in my city, making more than 20% higher than the average household, and I'd be housepoor if I bought a place. If interest rates went up I'd be underwater for the next 20 years. It'd only make financial sense if I had a partner that's also working and no kids.
Renting is cheaper than the mortgage+taxes+maintenance anyway, I can invest a few hundred dollars every month in other areas.

None of this shit has anything to do with "advanced workforce", it's just retards that bought into the "housing is a good investment" meme and rich foreigners pumping the prices to stupid levels.

>>13199141
the fucking point is that a boomer working at a "normal" job like teacher or nurse could literally buy and pay off most houses in the 1970s

now it's not possible for even doctors or engineers

Good evening gentlemen. Please see the attached image in which I have adjusted the prices in the image provided by the OP for the progressive devaluation of the U.S. dollar between 1976 and the present and provided the approximate current American prices for comparison. Notably, housing has kept up with inflation, but rent prices have soared by more than 50%. Wages are lower by a sixth. Automobiles are nearly twices as expensive. Along with the very high prices of tuition and movie tickets, the average price of consumer goods seems to have increased at a greater rate than the given inflation index. The unevenness seems to imply that the inflation index underestimates the true state of inflation, which means that real incomes have fallen by an even larger amount. The close correspondence of gasoline and stampage can be explained by the role of political determinants in their price as compared to other consumer goods given that much of their consumption is in the corporate sector which has increasingly exerted its influence on the legislature over the past decades.

>>13199168
>>13199256
>>13199283
All you niggers are mad, but the system is shit and we keep buying into it. Only when people stop taking jobs in areas that don't pay them enough to live there will the wages go up

>>13199489
Just look at the infrastructure. It’s a really desireable place to live for some. Try searching 2 hours away from Toronto and you’ll probably see housing prices drop heavily. Or you can move to Cleveland or Detroit and get a house for $5k
https://www.zillow.com/homedetails/9925-Bishop-St-Detroit-MI-48224/88423685_zpid/
>muh $500k Small home.

>>13199407
Hey ya dolt
https://www.zillow.com/homedetails/9925-Bishop-St-Detroit-MI-48224/88423685_zpid/

thank you very much anon for this

>>13199789
Not as long as they keep importing cheap labour from India and China.

>Be Boomer
>Getting old
>Planning to retire
>Want to sell house and move to retirement community in Florida
>House is only worth 2000% of what I payed for it
>Need more
>Get idea
>Tell people diversity is our strength
>Tell Congress to flood the country with illegals
>Tell my millennial children that diversity is our strength
>Illegals flood in and start rending out the shittest ghettos apartments
>wealthy drug dealers move to suburbs.
>wealthy GenXers move to wealthier suburbs to get away from drug dealers
>House now worth 5000% what I payed for it
>Illegals drive up national debt to 22 trillion
>Dont give a shit, ill be dead soon and the retard millennial will be stuck with my bill
>What a great life here in Florida

>>13199787
cars are the only that ACTUALLY is better though

GPS, aircondition, cameras and so on

>>13199847
Correct but that does not mean their price had to have necessarily increased. For example, computers have become greatly more powerful but have also become much less expensive.

>>13199141
Boom boom boom

>>13199873
>
ok, you are right and good point. but still, if something would make sense it would be the cars

>>13199067
So an average house costed about 3x average yearly salary. Isn't average salary now 50,000 and a home about 150,000?

>>13199067
post the inflation-adjusted numbers, please

>>13199105
you misspelled JEWZ

>>13199799
>Detroit MI
You'll live next door to a crackhead and your other neighbor will be the drug dealer. But hey, 5k for a foreclosed house with black mold growing in it is not bad if you are able to sleep through a drive by

>>13199300
This. There are a ton of laws regulating who is allows to rent, what things you can build on your house, etc. If we truly cared about "affordable housing" renting part of your house to any number of people would be legal.

>>13200028
Somewhat, but many would ghetto the shit outta it. Room-for-rent buildings used to be standard everywhere but now some areas won't allow new apartment complexes