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The Real Reason Millennials Don’t Buy Cars and Homes
Yahoo Finance ^ | Fri, May 31, 2013 | Rick Newman

Posted on 06/01/2013 10:55:17 AM PDT by YankeeReb

click here to read article


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To: Fightin Whitey

Very well said.


61 posted on 06/01/2013 12:24:26 PM PDT by TigersEye ("No man left behind" is more than an Army Ranger credo it's the character of America.)
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To: Fightin Whitey

>>They are a half-step from slavery.

We’re all a half-step from slavery, my friend. They are just better adapted to it.

As for living your life fully: a rural person says that an urban person is living in a rat maze, scrambling for cheese. An urban person says that the rural person is wasting their life digging in the dirt for subsistence. Both look at the suburban person with disdain, and the suburban person looks back at them with the same feelings. Living a full life is what you want it to be and not what society tells you it is and certainly not what someone who chose a different path says it is.

The millenials didn’t create this world they find themselves in. They didn’t create anything and that is their biggest flaw. But, they did adapt to it fairly well.

The only real problem is that they don’t know how to make the wheels turn in this technological society. They can build a web site, but they can’t make a turbine spin to generate the electricity. My generation (the late boomers and post-boomers) are the ones keeping the lights on, and we can’t find anyone with the intelligence and the desire to replace us. They all want to be our boss, but none of them are willing to sweat or get dirty. When a 65 year old co-worker retires, we have to replace him with a 45 year old because no one younger has the skill set.

So, when my generation dies, the lights will go out and the water will stop flowing, but I’ll be dead and then its their problem.


62 posted on 06/01/2013 12:29:35 PM PDT by Bryanw92 (Sic semper tyrannis)
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To: GenXteacher

pretty much the whole story ~


63 posted on 06/01/2013 12:30:44 PM PDT by muawiyah
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To: ProtectOurFreedom

I just did a couple of Cost of Living adjustments comparing Springfield, Missouri and San Jose, California.

A $33,000 salary in Springfield would be a $64,000 salary in San Jose.


64 posted on 06/01/2013 12:31:57 PM PDT by Anitius Severinus Boethius (www.wilsonharpbooks.com - New Robin Hood book out!)
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To: Bryanw92

Maybe we all are a half-step toward slavery.

Some of us are fighting the next step.

Too bad about you.


65 posted on 06/01/2013 12:34:24 PM PDT by Fightin Whitey
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To: GenXteacher
declared a recent report by the U.S. Public Interest Group. Overall, it concluded, “the driving boom is over.”

Naturally we'd assume a report on private automobiles by a Ralph Nader affiliated bunch would be completely objective...

66 posted on 06/01/2013 12:45:00 PM PDT by nascarnation (Baraq's economic policy: trickle up poverty)
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To: Gen.Blather

The new cars bought during the cash for clunker time are becoming clunkers and can be sold as such. The World does go round.


67 posted on 06/01/2013 12:50:21 PM PDT by napscoordinator (Santorum-Bachmann 2016 for the future of the Country!)
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To: YankeeReb
"And the reason may be fairly straightforward: They don’t have much money. Not yet, anyway. "

It takes jobs to have money and our unwise trade polices have created an economy that is only providing jobs for Chinese.

68 posted on 06/01/2013 12:55:04 PM PDT by DannyTN
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To: HokieMom
Woohoo! Freeper children buck the trend. My 31 year old daughter bought and sold her first house and banked $45,000!

I was just thinking the same thing. My 25 year old and his wife, and quite a few of their married friends, around the same age, have bought houses. And there are some good deals to be had, at extremely low interest rates, a little elbow grease and cosmetic work and their equity has increased. Buying is cheaper than renting, rents around here have not gone down one bit, in fact maybe are higher (around $1000 a month), while the housing market plunged, and mortgage interest rates are in the mid 3%'s.

But what's interesting, as you mentioned, I know all these young adults are from conservative families.

I said the other day, I don't know one person in that age group that does not have a job. My nieces, nephews (and there are a slew of them)...my son and DIL's friends, young people at church, and they all have jobs. Some of them are not full time, especially for the ones still attending college, but they have income.

I wonder about the no jobs numbers, because I don't see them in our "circle."

69 posted on 06/01/2013 12:55:34 PM PDT by memyselfandi59
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To: GraceG

They even know how to speak Newspeak. It’s called political correctness and it’s enforced via speech codes.


70 posted on 06/01/2013 12:57:23 PM PDT by TBP (Obama lies, Granny dies.)
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To: napscoordinator

http://www.eea.europa.eu/data-and-maps/figures/average-age-of-road-vehicles

In 1995 the average age of a car was 9 years. In 2009 it’s 8 years. A car salesman told me the average car he’s seeing was being turned in at 13 years. Meaning you’re right that those cars are being turned in. But there’s still and will continue to be a shortage of cheap used cars due to Cash for Clunkers. It will probably take five or six more years for things to even out and the “cheap” car to return. But wages have remained stagnant while the purchasing value of a dollar has declined 60% since 2008. It will remain difficult for the underemployed young person to buy a car for the foreseeable future.


71 posted on 06/01/2013 12:57:48 PM PDT by Gen.Blather
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Comment #72 Removed by Moderator

To: SamAdams76
If I could do my life over again, I'd definitely go simpler.

Absolutely...The last thing ya want is some 3,000 square foot home, huge mortgage payments, car payments, etc...

Too much stress, then throw in an unstable economy, unstable jobs, lousy benefits, little or no medical.

Simple, smaller is a whole lot less stressful...

73 posted on 06/01/2013 1:02:22 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: YankeeReb

I was 35 before I bought my first home, so I cut them some slack in that regard. Until that point in my life I was moving around too much chasing opportunities to make buying seem like a good option. When it did come time to buy I had easily 10% to put down.

I think alot of kids are being sold on the “college degree” path, which really means the “student loan” path, and they might have been better off in the long run learning a skill or trade.


74 posted on 06/01/2013 1:05:48 PM PDT by spodefly (This is my tag line. There are many like it, but this one is mine.)
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To: HokieMom
Freeper children buck the trend. My 31 year old daughter bought and sold her first house and banked $45,000!

How do ya sell your home at 30 years old and bank your money? Does she live in her car now?

lol..

75 posted on 06/01/2013 1:05:57 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: grania
"Maybe what this is showing is that generation is more sensible than we give them credit for. They did, after all, grow up seeing their parents struggle with housing and car payments, and they're already saddled (in many cases) with stupid college loans." You can stop at the second bolded comment. Wonder how many put in a hitch with the USMC and came out dependent on anybody? Some I know still insist that a Universal Draft would be the best thing this country ever did; check with the Israelis and see how it is working for them.
76 posted on 06/01/2013 1:07:29 PM PDT by Frank Sheed (The injustice of trendiness is nearly dualistic in its isomorphism.)
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To: Anitius Severinus Boethius

Yep, sounds about right. This place is insane.


77 posted on 06/01/2013 1:09:46 PM PDT by ProtectOurFreedom
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To: YankeeReb

I don’t know, but I think a lot of us here have seen the scary rage we evoke from the young when we say something outside of what they were indoctrinated with in regards to history, the America of our youth, or politics, teachers, environment and such, they go from zero to spitting rage within seconds.

They seem to live in their heads and fantasy rather than to want to jump in their cars and go adventuring and touring the back roads, seeing how others live, experiencing life, and books are starting to seem like something mysterious and disturbing to them, something “old” something used to annoy them and which hold the lies of the “old” people, who need to die off.


78 posted on 06/01/2013 1:10:27 PM PDT by ansel12 (Social liberalism/libertarianism, empowers, creates and imports, and breeds, economic liberals.)
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To: YankeeReb

McDonald’s - illegal aliens
Taco Bell - illegal aliens
Wendy’s - illegal aliens
Burger King - illegal aliens
Theater ticket taker - illegal aliens
Ice-cream shop - mostly illegal aliens
Construction - illegal aliens
Roofer - illegal aliens
Mowing lawns - mostly illegal aliesn
Newspaper delivery - 70% gone, rest is illegal aliens

Freepers are mostly old, and mostly out-of-touch with how A LOT of hiring decisions now go. They don’t like illegal immigration one white, however it’s true that the group most impacted by it is the work ethic of our young people.

Those jobs are WHERE THEY LEARN THE VALUE OF WORK —it’s being given away.


79 posted on 06/01/2013 1:12:10 PM PDT by gaijin
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To: vladimir998

It wasn’t until the recovery from the Long Depression of the 1880s and the Great Panic of 1893 that the concept of owning one’s residence became a widespread notion in the USA, and the notion was spread by residential real estate devloper/shysters for the most part in the Northeast and Ohio River Valley.

Up until the Great Panic of 1893, men of high net worth would never pay to own their residence when alternate investments with real positive rates of return were available.

The concept of the homeownership society was a sham pushed by various oligarchs during the history of the country, be it Railroads and large land owners in the late 1890’s, large landowners in the near countryside during the 1910’s, the CIA after WWII, etc.etc.

Homeownership in suburbia is less than a three generation blip in the history of the North American continent.

-— I live in NJ, where property taxes have reach such epic heights that every homeowner who wants to own a house for long enough to raise a family, will end up paying more than 150% of the future house sale value in property taxes. “Home ownership” has been reduced to long term leasing from the municipal taxing authorities in all but name.

ON a positive last note, the advances in prefab housing have actually substantially reduced the ongoing maintenance and utility (heating/cooling) costs of houses going forward to the point that even with lower lifetime household incomes, home ownership might be a viable national goal...


80 posted on 06/01/2013 1:18:08 PM PDT by JerseyHighlander
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