Its official - 60% of households and 82% of singles can't afford a new car.

[SC Maintenance]

We have strayed way into the weeds.

Regarding the "no one wants to work anymore narrative" the macro data does not support that - at all.

The labor force participation rate for ages 25 to 54 - in 2002 was 83.3%, 2012 was 81.%, and 2022 is 82.4%. So pretty much the same for that demographic for the last 20 years. Not sure they tracked it before that.. https://www.bls.gov/emp/tables/civilian-labor-force-participation-rate.htm

On the "help wanted" signs, the dirty truth in the cases I am familiar with is they don't want to hire any more people, they want to work the people they have hard and tell their customers service sucks because they can't hire anyone. They also restrict hours so they don't have to pay benefits. Don't believe me - read the BLS January report regarding part time wanting full time which supports this: https://www.bls.gov/news.release/empsit.nr0.htm

"The number of persons employed part time for economic reasons, at 4.2 million, changed
little in December but was up by 333,000 over the year. These individuals, who would
have preferred full-time employment, were working part time because their hours had
been reduced or they were unable to find full-time jobs. (See table A-8.)"


IMHO these are all narratives fostered to divide the generations, just like the attempt to divide every other group. I had it hard, everyone else has it easy, divide and conquer. Every older generation has always thought they younger generation was doomed, yet the ball keeps moving forward somehow.

Do your own research, form your own opinions, don't just believe what you hear. Never in history have you had this much data available with a few keystrokes.

 

[KrisZ]

IMHO these are all narratives fostered to divide the generations, just like the attempt to divide every other group. I had it hard, everyone else has it easy, divide and conquer. Every older generation has always thought they younger generation was doomed, yet the ball keeps moving forward somehow.

Yup, that's the pattern right there. Divide and conquer and what's even worse is that "we the people" are doing the dividing part all on our own and for free. Everything from stupid and inconsequential things like "thin vs thick", "domestics vs imports" this brand vs that brand all the way to the "P" topics we cannot discuss here.

Always "us vs them".

 

[proveitwithdata]

Forgot to add the following

The typical payment increased by 1.0% in December, and the number of median weeks of income needed to purchase the average new vehicle increased to 38.6 weeks from a downwardly revised 38.3 weeks in November. The November number of weeks was the lowest since August 2021.

Maybe in South Dakota but otherwise there are labor shortages all over this country. We are at a point where making coffee for people in Starbucks pays $40,000 a year *LOL*
Employers begging for help. Work at ANY auto plant in the South and get a great income, full benefits surpassing the best corporations and best of all enough to buy a home and raise a family.
Work at almost ANY police department in the country for much the same. To give an idea (I don't have the ad) but recently saw a starting salary for a Deputy Sheriff in Alameda County CA at $110,000 a year with a $75,000 sign on bonus. Not sure where the ad is right now but this stuff is ALL over the USA. Here is an example of just ONE county.
View attachment 198870

Current Job Opportunities - County of Alameda

www.jobapscloud.com

Nassau County NY Police officer, easy $120,000 a year. Many make $200,000 or more after ten years plus you can advance.

Employment Opportunities | Nassau County, NY - Official Website

www.nassaucountyny.gov

View attachment 198867

Life has never been more easy in mankind history.

So whats the starting salary on the ny police job? Can any person off the street join?
What job is offering a base pay of 110k in alameda county?

This is equivalent to dealers advertising 15k in incentives, $99 monthly on a new 2024 Tahoe and leaving out the fine details like the massive downpayment, and not all buyers qualify for the full incentives amount.

 

[CourierDriver]

car payments are a way of life..............enjoy the rust with your road salt....pass the pepper please...lol.....

 

[CourierDriver]

Forgot to add the following



So whats the starting salary on the ny police job? Can any person off the street join?
What job is offering a base pay of 110k in alameda county?

This is equivalent to dealers advertising 15k in incentives, $99 monthly on a new 2024 Tahoe and leaving out the fine details like the massive downpayment, and not all buyers qualify for the full incentives amount.

My grandson works in the local prison baby sitting the usual crowd,,,grosses about 50,000 a year with overtime,,,hes happy.............its an inside job...lol

 

[alarmguy]

My “starter home” purchase at the bottom of the last crash with 3% interest is now my “forever” home.
....

Interest rates being high is one thing - ...

Mortgage rates are not high. They are actually at and below historical averages and WAY below the peaks.

Todays rate, Bank of America 1/17/2024 =

 

[DwightFrye]

When I was in my 20's I used to think sometimes that I wished I was 7-10 years older. That was the age group that had bought homes when they were still around $40k, and I thought I had "missed the boat" and would never be able to afford one.

I'm now 68, retired, and living almost as well as when I was working and making a 6 figure income. I paid cash for my house and paid cash for my 2019 and 2021 vehicles, both purchased new. I have no credit card debt. Retiring debt free is one the greatest things you can do to have a comfortable lifestyle and not even a lavish one.

It's all about lifestyle choices including getting an education, working hard, being financially responsible and making some sacrifices by getting an IRA or 401k or some other retirement nest egg started while young even if age 65 seems so far away that you can't even fathom it.

I have always thought our school system should teach a mandatory course around high school age on personal finance so that the kids understand the real world they are about to face. It would certainly be more useful than the garbage courses they are being brainwashed with and I won't mention what they are but you all know.

 

[alarmguy]

...

I have always thought our school system should teach a mandatory course around high school age on personal finance so that the kids understand the real world they are about to face. It would certainly be more useful than the garbage courses they are being brainwashed with and I won't mention what they are but you all know.

Agree, I think it should be at least two year requirement.
Do you know why it never will be? The Bank Lobby
Can you imagine how devastated the finance industry would become if people knew what they were doing and the ACTUAL cost of borrowing money? The industry would be destroyed on a magnitude we cant imagine.
Can you imagine if they knew the benefits of saving money and actual numbers of it growing/investing?

I think the above is much more important than a college education, heck it might even destroy the college education industry and it is an industry, the amount of money these institutions have to work with, the salaries of the staff and professors. The money that students and families throw away when a student is not focused on a career path. Countless kids waste that money away and end up in debt.

With the proper finance education, even simple people can be millionaires. Many simple people who worked in industry, invested money buying and renting homes, by the time they retired owned multiple homes to sell off. Things like that.

 

[Pew]

Forgot to add the following



So whats the starting salary on the ny police job? Can any person off the street join?
What job is offering a base pay of 110k in alameda county?

This is equivalent to dealers advertising 15k in incentives, $99 monthly on a new 2024 Tahoe and leaving out the fine details like the massive downpayment, and not all buyers qualify for the full incentives amount.

According to Census.gov, the median household income in Alameda county is $122,488, median rent is $2,229/month, and you have to deal with Oakland, CA.

This part for Nassau County, NY undersheriff position, Nassau median household income is $137,709 with rent at $2,131/month, and requires 15 years experience:

Bachelor’s degree from a regionally accredited or New York State registered college or university, (Master’s degree a plus), and• Minimum of 15 years’ of progressively responsible law enforcement and police administration experience, in the rank of a 2nd line supervisor or above with additional managerial experience in Corrections in excess of three years in the rank of Deputy, Dep Warden or above or civilian equivalent• Experience in correction K9 operations with emphasize on narcotic detection canines within correctional setting

Plus there's a reason why there's staffing shortages; nobody wants to deal with that BS anymore.

I know multiple people who couldn't even get a job at fast food joints with "help wanted" signs because of various reasons like being a mother, disabled, etc.

 

[tbm5690]

I know multiple people who couldn't even get a job at fast food joints with "help wanted" signs because of various reasons like being a mother, disabled, etc.

Being a mother? Please expound.

 

[Pew]

Being a mother? Please expound.

Some jobs will not hire moms, especially new moms, because of their commitment to their family first. So things like taking care of the kids if they're sick and unable to go to school, picking them up, school/after-school activities, etc. In my experience, some jobs will not hire you if you're a veteran or serving in the reserves/NG because of your commitment to drill dates. It's illegal but that won't stop the hiring managers from making up other excuses or say it in an unrecorded way.

Edit: My work recently just let go of a few employees with no reason other than "we don't think it's gonna work out." I know the real reasons we got rid of them but legally we did not have to give them a reason why we let them go.

 

[alarmguy]

Forgot to add the following



So whats the starting salary on the ny police job? Can any person off the street join?
What job is offering a base pay of 110k in alameda county?

This is equivalent to dealers advertising 15k in incentives, $99 monthly on a new 2024 Tahoe and leaving out the fine details like the massive downpayment, and not all buyers qualify for the full incentives amount.

ummmm.. what is forgotten. It is a sampling of jobs and the desperation of government and private industry to find people who want to work.

 

[BLND1]

Mortgage rates are not high. They are actually at and below historical averages and WAY below the peaks.
View attachment 198925

Todays rate, Bank of America 1/17/2024 =
View attachment 198927

it’s like you didn’t read what I wrote.

Now put home prices on the graph or a home price/income comparison.

Rising interest rates with no wage increase, rampant inflation, and a non-responsive housing market is the problem.

 

[alarmguy]

According to Census.gov, the median household income in Alameda county is $122,488, median rent is $2,229/month, and you have to deal with Oakland, CA.

This part for Nassau County, NY undersheriff position, Nassau median household income is $137,709 with rent at $2,131/month, and requires 15 years experience:


Plus there's a reason why there's staffing shortages; nobody wants to deal with that BS anymore.

I know multiple people who couldn't even get a job at fast food joints with "help wanted" signs because of various reasons like being a mother, disabled, etc.

Debbie downers will always find a way to make excuses in order to lay around and do nothing.
Jobs are all over the place and if you can make it here in the USA you really need to re-think what you are doing or move to China/North Korea for come government hand holding.
No point researching what counter stuff you're typing to me. It's all pointless. You can get a job anywhere and buy a home.
We could go on for a year of me posting jobs and some will find an excuse or some baloney reply as to why not.
Cant even make sense of you own gibberish.

Nassau county recruitment site calls for being at least the age of 17 ya da ya da...

https://www.nassaucountyny.gov/DocumentCenter/View/41005/Become-an-Officer-2023-TRI-11-x-85---7360-Phone

I wont get caught up in silly talk, coast to coast companies and government are desperate for workers.
Goodness sakes even the USPS on the coast here cant find help.

Life has never been more easy in the USA and if someone doesnt think so, well put it this way, not everyone succeeds in life. Right?
They live in a country with a unemployment rate near the lowest in history of mankind too.

BTW - those counties with those high household incomes? Ummm and how do you think they got there? They worked for it. IT wasnt a magic money tree. In fact much of Nassau County was WWII soldiers who came from the war and started a life/bought homes in that county. Costs there have sky rocketed, it feeds on itself, so those income levels do not necessarily buy you a much better life than a low cost state with lower salaries. Only the top % tier of any place affords true luxury.
peace

 

[Pew]

Debbie downers will always find a way to make excuses in order to lay around and do nothing.
Jobs are all over the place and if you can make it here in the USA you really need to re-think what you are doing or move to China/North Korea for come government hand holding.
No point researching what counter stuff you're typing to me. It's all pointless. You can get a job anywhere and buy a home.
We could go on for a year of me posting jobs and some will find an excuse or some baloney reply as to why not.
Cant even make sense of you own gibberish.

Nassau county recruitment site calls for being at least the age of 17 ya da ya da...

https://www.nassaucountyny.gov/DocumentCenter/View/41005/Become-an-Officer-2023-TRI-11-x-85---7360-Phone

I wont get caught up in silly talk, coast to coast companies and government are desperate for workers.
Goodness sakes even the USPS on the coast here cant find help.

Life has never been more easy in the USA and if someone doesnt think so, well put it this way, not everyone succeeds in life. Right?
They live in a country with a unemployment rate near the lowest in history of mankind too.

peace

You only mentioned money when you posted the jobs. You never mentioned the cost of living for the locations of the job or the beginning pay. Somebody 15 years into their career is probably pretty comfortable in their current position and just casually looking for a new job unless unforeseen drastic changes happened.

Nassau County also requires 32 college credit hours, so the minimum of 17 years old is misleading. At full-time student of 12 credit hours a semester, that equates to at least 2 years of college; pretty much an associate's degree. Starting out as a new police officer in Nassau county is $65k/year. That's livable with a roommate and young, hard if there's any childcare involved, and impossible if mid-age and a family.

But in all honesty, the Gov is probably the worst job employer anyways. Having worked for the VA before, I'm not surprised by the unfilled positions since 99% are all contracted via 3rd party like accenture, and end up having no worker rights - it'll probably be less stressful being in the laborer union - at least the unions have impeccable insurance.

One of the managers from my old jobs went to 'work' for USPS. I guess they have a structure setup like UPS where the least seniority driver doesn't get a route unless somebody leaves or is sick - which could be years. I'm not surprised they can't find workers with a structure like this, nobody wants unstable work.

I'm not trying to make excuses for why people don't want to work. But some of these employers that are struggling to get employees should really look at their own company structure first to figure it out.

 

[KrisZ]

Yeah, yeah, just work harder you lazy millennials. The boomers sure did

Despite holding more than half of the nation's wealth, many boomers don't have enough money to cover the costs of long-term care, and 43% of 55- to 64-year-olds had no retirement savings at all in 2022. That year, 30% of people over 65 were economically insecure, meaning they made less than $27,180 for a single person.

 

[alarmguy]

Yeah, yeah, just work harder you lazy millennials. The boomers sure did

Can’t wait for Gen Z to take over after Gen Y pays their bills
After that will come the “end of days”

 

[alarmguy]

it’s like you didn’t read what I wrote.

Now put home prices on the graph or a home price/income comparison.

Rising interest rates with no wage increase, rampant inflation, and a non-responsive housing market is the problem.

I did read what you wrote. I just have a differing opinion from you.
Me interest rates are not that high, employment is at an all-time low, wages are going up.
The housing market is always cyclical and it is what it is. To me it’s doing quite nicely and catching up to an almost 2 year Covid shut down.

I do agree with one thing, but you won’t agree with me on what I agree with
The federal government should have never gotten involved in artificially lowering interest rates on home mortgages.
If they didn’t do that there would’ve been plenty of houses on the market and we would not have had the price escalation that we did.
You see homes are always what the public can afford.

So low rates mean high home prices, and the seller gets the profit.
High rates mean low prices, and the bank gets the profits. The payment is always what the public can afford. It’s really that simple.

Granted, right now we are in the in between area of the market catching up with a Covid shut down.
But the fact of the matter is the same amount of people are purchasing homes as they always have or better said home ownership historically is still at the same level as it always has been.

There are always fluctuations and this fluctuation is no different than let’s say when interest rates were 16% in the 1980s.

Now just imagine if the Internet, mass media and social media was around at that time and what people would have been saying.
It’s just life, a big circle, it has its ups and downs, and everything always resets to what the public can afford.

I’m in the coastal area of the Carolinas, purchased a brand new house last year, sold our rather large 16-year-old house in a weekend, no kidding two days.
Where we moved to? I’m saying this honestly it’s freaking unbelievable how fast homes are going up and being sold. I’m truly beside myself, pretty experienced in real estate for significant amount of time in the New York metropolitan area until we moved south.
It’s made up of the majority of people escaping the financially taxed areas of the northeast and of course the cold weather

 

[edyvw]

Of course they can. Maybe not Ford Raptor with lifted suspension and “brotha” wheels.
Desires over reality.

 

[KrisZ]

Can’t wait for Gen Z to take over after Gen Y pays their bills
After that will come the “end of days”

We're pretty much done for