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“It’s not enough anymore to say, ‘I can work hard,'” Dimon said in a recent interview with CNN. “In the old days, you could be in 10th grade, go get a factory [job] in Detroit, and eventually you could afford a family, a home, a car, and that may not be true anymore.” - CEO, JPMorgan
If only there were something that could be done about that, Mr Eight Figure Salary.
He was directly responsible for too big to fail and reaped a public bailout.
I would wager that hasn't been true for almost 40 fucking years now.
“May” what a fucking idiot asshole.
makes sense
my senior in-laws stole family's entire fortune including wiping out of the grandkids college funds
fucking old people these days live off the futures of the youths
Like literally? How did they do it? Are they hiding now or was it some legal scam?
lawyers and paperwork
the last relative that controlled everything got sick real quick and on a clear day those two wrangled free from her the entire inheritance
thrown it in all the familys face and yes no one wants anything to do with them anymore
No offense but this sounds less like a systemic housing issue and more like shitty people being shitty
When you build a society that worships money that’s a hell of a lot more common.
Damn true. So it’s actually reflective of an even larger systemic issue!
Or did the grandparents just decide to spend their own money on their retirement and not give it to their entitled children?
Ugh, that math is totally off! In 15 years the average age of someone who is 39 should be 54! Not 59!!!
(/s btw)
This is kinda where my brain went too. So they’re just buying second houses? And we’re all just… too fucking poor to compete?
No, it's not us GenX buying ski condos. It's corpos like BlackRock buying up everything at 10% over ask and trying to turn the country into permanent renters. They figured out they will make more money over 30 years by renting it out and barely maintaining it than by backing mortgages.
Buy a gun
It's cold out here...
And the games being played ain't fun
Landlord just raised your rent...
Better get yourself a gun
https://www.youtube.com/watch?v=0KlKGEp0_x4
GYAG - Bob Vylan
I guess if you also spent 20 years "3 years away" from buying a house, that was pretty normal.
Man if my wife didn't push us to buy in 21, we would be way more than 3 years away, I wouldn't be able to afford my house today. Now as much as it feels like a blessing to own a house, it's also a trap since if I sell, I can't get another one.
How does a stat like this get affected when a corporation buys a house? Exclude it from the stats? Go off the organization's age? Decide after seeing how either solution affects the stats in the end?
"Corporations are people, my friend!"
So how old is a corporation? How does it make babies? How does it plan grocery shopping, or get the kids to school?
Not a perfect system but look into Land Trusts in your areas. Its a way for people to get affordable homes. In Portland we have one called Proud Ground. Basically the trust owns the land and you buy the home. They dont legally get to tell you wnat to do though on said land. They arent there to micromanage like an HAO. They just make it affordable this way. When you eventually sell the home you sell back into the program for other low income families and get 25% of the market value as well as any repairs you made. You can also choose to keep it and pass it down in the family / give it to family if you want to upgrade someday.
This is what my family did. Its not going to fix the housing crisis but I wish more programs like this existed...oh.. and put a cap on how many homes a corporation or entity can buy! No homes should be sitting open in a housing crisis!
P.S. Look into IDA programs too for the down payment! Oregon also has that available and its how we saved for the down payment. Our home is 3bd 2bth in a major city and we only paid 199k for it and our down payment was mostly IDA grant money.