Aldeer.com Forums Alabama Deer Talk Aldeer General Forum First time home buyers

One thing is for certain. The government is dead set on creating rapid inflation, so the debt encumbered by buying a house right now will be inflated away long before a 30yr note expires.
Folks will be able to pay off the house note in 10 or less at the current inflation rate.

It's not JUST the Starbucks to blame, it's a combination of all the things I listed, ALL priorities, work ethic, attitude. They ALL need to be fixed. Read that slowly. I never, ever, not once said it was JUST Starbucks. You must own Starbucks stock or something.

It’s already happened.
My condo was $95,000 in 2018, mortgage is/was $425.
Now in 2025 $95,000 buys you an absolute dump of a house(typically) or a fancy pick up truck.

It seems to me that the "Younger" generation just has to keep up with the Jone's. It seem they all have to have vehicles that are less than 3 years old and I'm not talking Hondas or Toyotas. It's got to be 3/4 ton trucks, Tahoes, a Lexus or some other "Look at me" shiny car. Also like was stated they won't even consider a smaller Starter home ie <1500sqft older home that may or may not need some cosmetic upgrades because they have to impress everyone. And they are trying to do all this on a $17/hr job. They have no savings to prepare for when something happens because something always happens or for when they start their family and things get really expensive.

I own 3 whole shares of Starbucks, it’s not performed very good, I think in total down $55

LOL!!! I was just saying that to be funny but that makes it funnier.

Speaking of reading things again, slowly..........I guess you missed where I typed this:

I fully agree that people have a "spending" problem....ZERO argument there...

And no, I don't own Starbucks stock. I rarely buy coffee from places like that

NNo I got it the first time and totally agree with you. That post was mainly directed at AU7MM08 because he kept mentioning Starbucks by name, I guess because I did. Don't buy their stock by the way, it hasn't worked out for him.

Starbucks is printing today, currently only down $25 now

Yep!

In Andalusia there are three "fancy tea" shops (all based on Herbalife products), and three "fancy coffee" shops (one has two locations).

I do patronize one of the tea shops and I do pay $11.50 for a 42oz cup filled with ice and water that they mix the vitamins, collagen and caffeine powders into. Often I will drink about half of it and add more water to extend the tastiness (and lower the cost per ounce in my mind).

Some weeks I get one every day they are open (closed on Sunday). Some weeks not every day.

My hair and nails are better for it, but honestly I know that I could probably do without that expense, but it is my guilty pleasure I reckon. I used to go get a route 44 unsweet tea from Sonic nearly every day, too, and I have finally quit doing that now that I found a low carb, sugar free peach syrup that I can add to tea I make at home. I actually could just get all the Herbalife products and mix it up at home and it would be less expensive, but I probably wouldn't mix it as well and and it would definitely be less convenient. I am not someone who could be a hermit either, so I enjoy interacting with some folks in person.

Most folks have something that when others look from the outside in think they could do without.

I know a lot of you have quit tobacco products and some have quit alcohol, too. But, how much money did those items cost over the years.

I remember the boomer generation being full of tobacco use.

What about your hobbies? There are not many that do not involve some financial expenditure.

Sure, there are a few very focused young folks who are so focused on building financial wealth that they only drink water, eat ramen, hustle 20 hours out of 24 and will probably retire early. But for most people, they need something that they get some joy out of in the "now" instead of grinding all the time.

I readily believe that my parents' generation was not just the greatest, but had the greatest as well. I grew up expecting that my generation could achieve the same level of prosperity and I think some did...at least in the beginning, but that whole cost of living outpacing the average income has gotten its teeth into most of us.

This is why I love this place. We can jab at each other, disagree, make fun, misunderstand, and then turn it all into a way to make each other laugh. That made me literally laugh out loud.

Its that got to have it now attitude. No matter what it cost. If we go in debt or not. Instead of setting a goal and working toward to get it. I haven't read all the comments but people do not look at thier assest to liability ratio. They do not see that a new vehicle is a depreciating asset and most built today are junk but they gotta have it cause they deserve it. I am also confused about all the couples that live with their parents. Im talking about a young married couple with no health problems. How is that not embarrassing. How does a woman look at the man of her house as head of the household when they are living in mom and dad's basement. Ill climb down off the soapbox now.

Everybody knows what you meant Driveby. Some will say or do anything to help make their point.

Just because the numbers aren't enough to keep every store open at a premium rent location doesn't mean it's not happening. It's funny to me and I'm a coffee drinker, but I know of many people who have to get their daily caffeine fix from a coffee shop. But as Driveby has stated, it's not the coffee... it's the mindset. Most people I know have "something" like that coffee in their life. It may be a subscription to something, music, concerts, gaming, tech devices, boating, hunting, etc. It doesn't take long before you wake up and say "how in the world am I spending this much $$$ on this???"

You mention the cost of housing, education, and vehicles. What about the cost of owning a boat and going to the lake? It amazes me how many people own boats and go to the lake every week. It's just an example of how many things exist for people to sink their money into nowadays. For me, it's hunting expenses.

Seriously though, I did my fair share of wasteful spending growing up as well. I think everyone has at some point. One thing we as adults have failed at (myself included) is instilling good spending habits in our kids. I'm just as guilty of doing what I could to give my kids what they wanted growing up. In some ways it shows but not always. Both my kids, as adults, will work for what they want but what they want may not always be practical. My son is as tight as bark on a tree some times and can squeeze a penny into a nickel when he really wants something.

That's actually my point, though. There aren't really any new expenses....people have always had vices and hobbies (and with minor exceptions, the same vices and hobbies). But EVERYTHING...vices, hobbies and necessities...cost a lot more (relative to income) than they did 20/30/40 years ago.

I'm not excusing bad spending habits or an unwillingness to work, by any stretch of the imagination. I'm just saying that only tells part of the story.

Look at it this way....take 2 people who have comparable jobs/careers and comparable spending/lifestyle habits. One is set in 1990 and the other in 2025. The one in 2025 is going to be cutting it quite a bit closer, financially, than the one in 1990 was, simply because "things cost more than they used to". All those poor spending habits or poor work ethic just throws gas on a fire that's already borderline out-of-hand.

What’s the solution? Houses are too expensive and people don’t make enough. How do we solve it?

I’ve already provided one that works without a doubt. It’s not the one people like to hear.

Become Amish....




(I'm only sorta kidding....every day that passes, I think to myself "Man, maybe those Amish folks are onto something")

A lot of my customers are Amish. I'm here to tell you, some of them are rolling in it.

Ya makes sense when you run a cash business & don’t pay taxes, I would be too.
I know they’re exempt from Social Security

Sure wish I could opt out of that Ponzi scheme known as Social Security.