Kids today

[Geraldsh]

Originally Posted by FormerPresJamesTaylor

What's the average age of this forum? 50?

My kids are nearing 50 and they are starting to think they know more than I do, just like they did in the 80's.

Edit: and now they usually do!

[Locke]

Originally Posted by Geraldsh

My kids are nearing 50 and they are starting to think they know more than I do, just like they did in the 80's.

Edit: and now they usually do!

Are you the Cryptkeeper??

[corporatejay]

A generation that grew up on Iphones, algorithms and instant gratification is going to have issues. They were effectively guinea pigs for Web 2.0. Kids today are never bored and being bored is actually good for you.

That said, they are so much smarter and extremely resourceful. My kid was having issues with a video game on his PC and asked me to help him (again, sigh) and when we went through troubleshooting he had already done all the things I would have done, gone to the internet, tried all the fixes etc...

[Cali Panthers Fan]

https://www.nytimes.com/2022/10/03/u...-petition.html

In the field of organic chemistry, Maitland Jones Jr. has a storied reputation. He taught the subject for decades, first at Princeton and then at New York University, and wrote an influential textbook. He received awards for his teaching, as well as recognition as one of N.Y.U.’s coolest professors.

But last spring, as the campus emerged from pandemic restrictions, 82 of his 350 students signed a petition against him.

Students said the high-stakes course — notorious for ending many a dream of medical school — was too hard, blaming Dr. Jones for their poor test scores.

The professor defended his standards. But just before the start of the fall semester, university deans terminated Dr. Jones’s contract.

I'm just gonna leave this here...

[Slava]

Originally Posted by Cali Panthers Fan

https://www.nytimes.com/2022/10/03/u...-petition.html



I'm just gonna leave this here...

Seems like a good area to have high standards.

[Derek Sutton]

Well, they’re more lazy then they’ve ever been.

https://www.newswire.ca/news-release...801227582.html.

[Monahammer]

Originally Posted by Derek Sutton

Well, they’re more lazy then they’ve ever been.

https://www.newswire.ca/news-release...801227582.html.

I wonder how the general user here would score on this report card?

[Locke]

They should try 'Quiet Quitting' their whining!

[peter12]

Man, people over 50 are the worst. I have a blanket discrimination against any old fogey who owns a home they bought for $90,000 back in 1982 and complains about how easy young people have it today.

[Shazam]

My PILs bought their home in 1977 for $30K.

My parents bought their home around 1987 for $90K. Catch: 23% interest rate on mortgage.

[peter12]

Originally Posted by Shazam

My PILs bought their home in 1977 for $30K.

My parents bought their home around 1987 for $90K. Catch: 23% interest rate on mortgage.

Probably took them half a year to save for the down payment and they have reaped some massive equity benefits in the time since.

It's not comparable to what is going on today.

[opendoor]

Originally Posted by Shazam

My PILs bought their home in 1977 for $30K.

My parents bought their home around 1987 for $90K. Catch: 23% interest rate on mortgage.

I'm assuming you're joking about the 23% interest rate in 1987, unless they were borrowing from a loan shark. But just to put some numbers into that to compare to today using the prevailing interest rates at the time:

$30K in 1977 = $135K today = $1,085 mortgage in 2022 dollars (w/ 10% down)

$90K in 1987 = $199K today = $1,765 mortgage in 2022 dollars (w/ 10% down)

With a 3.5% mortgage, the equivalent house prices based on those mortgage amounts would be and $240K and $390K respectively (again, assuming 10% down). So pretty affordable, assuming those houses were anywhere near an urban area.

[Shazam]

Originally Posted by peter12

Probably took them half a year to save for the down payment and they have reaped some massive equity benefits in the time since.

It's not comparable to what is going on today.

Nah. Dad lost his job in 91. Sold house for not much more. Finally bought again in California in 08 right after the financial crisis. Still cost $800K.

[Shazam]

Originally Posted by opendoor

I'm assuming you're joking about the 23% interest rate in 1987, unless they were borrowing from a loan shark. But just to put some numbers into that to compare to today using the prevailing interest rates at the time:

$30K in 1977 = $135K today = $1,085 mortgage in 2022 dollars (w/ 10% down)

$90K in 1987 = $199K today = $1,765 mortgage in 2022 dollars (w/ 10% down)

With a 3.5% mortgage, the equivalent house prices based on those mortgage amounts would be and $240K and $390K respectively (again, assuming 10% down). So pretty affordable, assuming those houses were anywhere near an urban area.

Maybe 18.5%? It was really high. They didn't qualify for the gov't interest relief program.

I don't even know what your numbers are supposed to represent, they're totally irrelevant.

[blankall]

Originally Posted by opendoor

I'm assuming you're joking about the 23% interest rate in 1987, unless they were borrowing from a loan shark. But just to put some numbers into that to compare to today using the prevailing interest rates at the time:

$30K in 1977 = $135K today = $1,085 mortgage in 2022 dollars (w/ 10% down)

$90K in 1987 = $199K today = $1,765 mortgage in 2022 dollars (w/ 10% down)

With a 3.5% mortgage, the equivalent house prices based on those mortgage amounts would be and $240K and $390K respectively (again, assuming 10% down). So pretty affordable, assuming those houses were anywhere near an urban area.

On top of that you were getting a massive return on any investments you had. If you saved up a 20% downpayment in 1977, within a few years (assuming saving an additional $5k or so a year), you probably had a 50% downpayment.

Today, you save 20%, and that becomes a 10% downpayment in 5 years, as the rising prices far outpace anyone's ability to save or earn investment income.

The lawyer, I used to work with, used his first pay cheque as the downpayment for the strip mall where his office is currently located....nowadays new entires into the workforce are probably using at least half their pay cheque for rent.

[opendoor]

Originally Posted by Shazam

Maybe 18.5%? It was really high. They didn't qualify for the gov't interest relief program.

In 1987? Interest rates were 10.5-11.5% then (lower if variable).

I don't even know what your numbers are supposed to represent, they're totally irrelevant.

Affordability vs. today. If you want to talk about irrelevant, start with numbers using 1977 or 1987 dollars and fictional interest rates.

[8 Ball]

Originally Posted by peter12

Man, people over 50 are the worst. I have a blanket discrimination against any old fogey who owns a home they bought for $90,000 back in 1982 and complains about how easy young people have it today.

A 50 year old would have been 10 in 1982. People over 60 are the worst

[blankall]

Originally Posted by 8 Ball

A 50 year old would have been 10 in 1982. People over 60 are the worst

People who are 50 years old are squarely gen Xers. They caught the tail end of the good times the boomers had, but nothing like what the boomers actually received. Many of them also graduated directly into a major recession and a saturated work force.

In my dealings with many Gen Xers, I've found it's crazy how many still maintain that angsty edgy teenage attitude throughout their entire adulthood.

[Sliver]

Originally Posted by blankall

People who are 50 years old are squarely gen Xers. They caught the tail end of the good times the boomers had, but nothing like what the boomers actually received. Many of them also graduated directly into a major recession and a saturated work force.

In my dealings with many Gen Xers, I've found it's crazy how many still maintain that angsty edgy teenage attitude throughout their entire adulthood.

That's wild. My coworker and I were just talking about how smooth all of our dealings are now that Gen Xers are in the decision-making roles at companies. So much easier than 10/15 years ago when it was the boomers who were overcomplicating everything and always trying to do little power moves to let you know they were a top dog.

[blankall]

Originally Posted by Sliver

That's wild. My coworker and I were just talking about how smooth all of our dealings are now that Gen Xers are in the decision-making roles at companies. So much easier than 10/15 years ago when it was the boomers who were overcomplicating everything and always trying to do little power moves to let you know they were a top dog.

I would state there two types of Gen Xers that I deal with. The domesticated ones, who entered the corporate structure and the business world. This type tends to be, as you say, very easy to deal with. Although you do have to watch them, as many inherited a very cut throat tendency towards co-workers (who in my mind should be allies). They had to fight to get into an over-saturated job market, and many stayed there by screwing over co-workers.

In my other post, I was more referring to the Gen Xers outside of the business world. These people landed into the job market during the recession. Many are still, like I said, very edgy. I wouldn't say they power trip in any way though. More just ongoing juvenile behaviour.