dave is ok
aztek is ok
But the same house my parents bought for 3,500 avocados now costs 25,000 avocados
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Millionaire to Millennials: Stop Buying Avocado Toast If You Want to Buy a Home
- Thread starter kulapik
- Start date
Raylan Targaryen
Member
Thank you
Yeah, but buying 4 $4 coffees a day isn't the reason why millennials aren't buying a home. >$3,800 is good savings each year by cutting those out, but when you're expecting a >$100,000 down payment for 20% in some of the high value markets, it isn't much. Even 10% is out of reach for many until years have passed.
GodOfVG103
Neo Member
Only ways to build wealth:
1.Get a High paying job
2.Start a successful business
3. Inherit money
4. Marry someone wealthy
5.Win the lotto
So the question becomes, why do rich people keep telling poor people to save and cut back.
Even if you save and cut back with a low paying job/income that isnt going to really help you get out of your situation.
Basically when you hear cut back from x to gain more money = troll
1.Get a High paying job
2.Start a successful business
3. Inherit money
4. Marry someone wealthy
5.Win the lotto
So the question becomes, why do rich people keep telling poor people to save and cut back.
Even if you save and cut back with a low paying job/income that isnt going to really help you get out of your situation.
Basically when you hear cut back from x to gain more money = troll
SciencePilot
Member
Saving will help you earn money up until a point. But only until a point.
benicillin
Banned
Fucking poor people have iPhones and millenials are eating avocado toast instead of sinking thousands of dollars into a shitty housing market. The whole country is going to hell.
Just_myles
Member
Yes. I think that is the point of this. Folks will be in their mid to late 30s before they can ever consider buying a home. It's fair to say that people don't have a choice but, to have that double income in order to do this. Thus, forcing civil unions. Shame.
My case exactly. Got lucky. Extremely lucky.
JaseMath
Member
There is no context. It's fucking Wint and that makes it hilarious.
digita1alchemy
Member
I did this. Well, not where houses were cheap, but cheap-er. I have a 2 1/2 hour round-trip commute each day to work that is slowly eroding my soul.
Aaron Strife
Banned
Go fuck yourself dickhead
TheCochese
Banned
If you say so.
I just purchased this $30 Italian Meal
Looks miserable, but you could romance it up with a bunch of candles.
BTW Avocado toast sounds pretty delicious to me right about now. Maybe on some Dave's Killer multigrain bread with a little salt, pepper and a teeny splash of lime juice. Damn.
Pagusas
Elden Member
I dont know about toast.. but it is true, the #1 reason my friends who dont own houses, cant afford them, is because they dont budget worth a shit and buy stupid ass shit. I mean hell we see it on GAF all the time. People complaining they cant buy a game or they will overdraft, or iphone threads with people buying brand new ones who will also complain they cant afford a home or a car. You cant have everything people, choose what matters to you and stop the needless spending.
Velocity:Design:Comfort
Banned
This. The whole point and reason for the existence of cities is clustering effects. It is different in the internet age, but I know for a fact that business is still mostly done with people in person where you are (even in Silicon Valley VC start up shit). Also, being able to hire people in cheap areas remotely is actually what is pushing wages DOWN in aggregate. I don't have any numbers on it but I wouldn't doubt that the average level of productivity of those employees is lower as well.
Zoe
Member
For what you get, they kind of are. Link from the article in the OP:
http://time.com/money/4512985/avocado-prices-increase/
There are many other fruits where you can get the same volume (or more) for much less.
And the person quoted in the OP is in Australia which is probably affected by import costs:
And_Gignac
Member
Rich idiot who never actually sacrificed that much to become rich tells poor people to sacrifice even further than they already do.
Just_myles
Member
Dude. E-books. It literally saved me from the brink.
NOLA_Gaffer
Banned
Hmm, 3 through 5 is definitely out. 1 and 2 are possibly but highly unlikely.
Fuck.
i3allistic
Member
My boy opened up a poke restaurant and took him a few months to hire a full staff and still looking for kitchen help, he recruited in HS and Colleges around SF/Milbrea area...problem is nobody wanna fucking work! You would think HS kids or College kids willing to work but these damn kids these day think there worth more and won't work in a restaurant...and my boy pays more then min. Wage...crazy these day...also heard about a ramen restaurant that having hard time hiring and his opening day been push back because the lack of staffing
Chairmanchuck
Member
This is so horrible to see actually. My wife and me are looking for good appartments/houses to buy now and when my parents bought their home it was worth around 300.000€. Now its worth 500.000-600.000€.
Even the apts that were worth 100.000€ 10 years ago now are worth around 160.000€.
Its horrible....
But what if they are worth more than that? I have a law degree, currently looking for jobs and wouldnt want to work in a restaurant. My wife has a Master in engineering and also wouldnt wanna work in a restaurant.
The people who became a policeman in Germany 30 years ago didnt need high education, if you wanna become one now you most definitely need at least a HS education.
Vault Dweller 111
Member
I stopped buying avacados at age 21, and by age 22 I was a homeowner.
Patapwn
Member
Buy low sell high. If you can't afford the initial investment just ask your dad to loan you a few million.
You poor because you don't respect the bootstrap. But if you follow my advice, kid, you might be able to turn your situation around. Man I'm such a good guy, helping like this. I should be rewarded with another tax cut.
Amory
Member
It's a fair point, not necessarily for avocados specifically but a lot of young people do waste a ton of money on shit we don't need.
Growing up we never went out to dinner, instead enjoying the same staple, cheap meals that my mom would cook every night. I never saw my parents buying drinks or breakfast or lunch at a fast food or coffee shop place. We didn't get new TVs or cars or appliances or gadgets, basically ever. We went on modest vacations once a year, etc.
And that was how everyone pretty much grew up in my town. People saved every dime they could. I just don't generally see that kind of discipline in my generation, myself absolutely included.
That's not to say things aren't hard for millennials, but we could do way more to be frugal.
Growing up we never went out to dinner, instead enjoying the same staple, cheap meals that my mom would cook every night. I never saw my parents buying drinks or breakfast or lunch at a fast food or coffee shop place. We didn't get new TVs or cars or appliances or gadgets, basically ever. We went on modest vacations once a year, etc.
And that was how everyone pretty much grew up in my town. People saved every dime they could. I just don't generally see that kind of discipline in my generation, myself absolutely included.
That's not to say things aren't hard for millennials, but we could do way more to be frugal.
GoldenEye 007
Member
$19 avocados? What? They're like $3.50 for a pack of 4 at Trader Joe's!
I kinda see where this dude is coming from (the billionaire). Basically, he's saying (very poorly), learn to save. When I was in college (1.5 years ago), way too many people would talk about being poor and then go drinking every thursday, friday and/or saturday.
My ex would complain about how she didn't have money to take her dog to the vet, yet she'd buy him flea stuff that she knew wouldn't work, paintings she'd just leave in the kitchen, countless decorations for the house, fast food or grocery shopping every single day, and going out to eat and shopping every weekend. Just made me shake my head whenever she said she didn't have the money to do something important.
i3allistic
Member
Poke in millbrea and ramen in the sunset
Hari Seldon
Member
I agree that if you have a low paying job you are fucked, but even if you land a good paying job you still shouldn't be blowing money on frivolous shit like daily starbucks trips. I know a ton of people who seemingly have lots of money but have no savings and are in debt. The dude in the OP is correct that if you are working up from nothing, good budget management is a key to success. Not the only key, but a very important one.
Stormhammer
Member
this i can agree with
nah the dude is just an asshole because he is rich and never knew hardship and he cant tell me not to buy collectors editions of all my games.
I mean... it's sf. $15 ain't livable wage there
Doug Heffernan
Member
Never heard of people spending $19 on avacodos, is this an Australian thing?
i3allistic
Member
If ur HS and College kid...u would work for $15 ...shit I used to work two job for way less ...and I grew up in the city
I duno, I guess I took pride in making my own money and actually enjoy going to work and meet people instead of doing the social media thing
But MacBook Pros, unlike avocados, retain their value over time.
Chairmanchuck
Member
You cant generalize though. Even if they spend shit on that, it doesnt matter when during my parents time housing was far cheaper than nowadays.
Every craftsman could buy land and property. Nowadays craftsmen here in Germany couldnt afford that and even university graduates earn less compared to 20 years ago and have to pay more for housing.
I know people who spend a lot on shit they dont need and complain.
I also know people who dont who are actually trying to save money. And that also doesnt work when you put your money in a bank, get 0,25% interest while the inflation each year is 2% and even lose money every year like that.
TheCochese
Banned
Holds it very well writing your screenplay sipping on $5 cappuccinos.
Ron Mexico
Member
It's a damn good thing 20% (or 10% or even 5%) isn't the only way into home ownership.
The misconceptions about the homebuying process to me are in many ways just as problematic as the market itself. There's pluses and minuses to every single way you view a purchase. Saving 20% down means no mortgage insurance, yet waiting until 20% down could mean a higher rate, thus negating the savings of accumulating the 20% down.
And that's just one very basic example. Note, you do not hear me saying bootstraps in any way, shape or form except one-- ask questions, be knowledgeable, use the immense number of resources available to make the right choice. This isn't about $19 avocado toast. It's about critical thinking. Part of that is the realization there's not a one size fits all solution.
Still the most frustrating part is how tone deaf all these articles come across as. We should all have been taught budgeting and responsible use of credit, etc etc. Making an article about avocado toast, while I can see the intent, just derails the conversation into the same old tired nonsense.
I agree. But the timing is sort wrong for that big of an expense don't you think?
There absolutely is something to say about living within your means and knowing the fucking value of a dollar.
Buying a 6$ coffee, a 9$ sandwich and spending 15+$ on eating out every day and still complaining that you can't possibly make ends meet is fucking stupid. Savings have to start somewhere, and small reductions in everyday spending will invariably lead to results.
But this guy is a grade-A dick in the way he chose to word this though.
Buying a 6$ coffee, a 9$ sandwich and spending 15+$ on eating out every day and still complaining that you can't possibly make ends meet is fucking stupid. Savings have to start somewhere, and small reductions in everyday spending will invariably lead to results.
But this guy is a grade-A dick in the way he chose to word this though.
What, do you think poor people deserve to live like human beings? Nah, screw that, if they are poor they should suffer and not have a single nice thing!
The sad thing is there are lots of people who actually think like that. Zero empathy or compassion.
B
bomb
Unconfirmed Member
retain their value...BS! Maybe compared to the video game Madden 2013.