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(CNBC)   July: Millennials can't buy homes because of avocado toast. August: Millennials can't buy homes because of bachelor parties   ( cnbc.com) divider line
    More: Stupid, Bachelor party, new Zillow analysis, single bachelor party, dozen jello shots, bachelorette parties, median U.S. home, bachelor parties, Zillow chief marketing  
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4426 clicks; posted to Main » on 10 Aug 2017 at 2:20 PM (40 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2017-08-10 01:44:10 PM  
Suggestion for September:

Millennials can't buy homes because CNBC's core audience went on a 30-year coke binge with everyone else's money, and after they blew up the economy, rigged the smoldering remains to siphon 99% of what was left into their own pockets.
 
2017-08-10 01:47:09 PM  
img.fark.netView Full Size


"Listen, don't mention the class war. I mentioned it once, but I think I got away with it..."
 
2017-08-10 01:53:35 PM  
So they took data from a wedding planning service?  Those rich idiots were always going to spend a fortune on their wedding.

Normal people don't do that, at least in the UK, it's only those who thought November Rain was an instructional video*.  Unless things are much different in the US, most stag nights are a heavy night on the town (£50-300, depending on location and definition of heavy).  Sometimes kids still living with their parents or newly minted bankers (and such) might go to Amsterdam or Magaluf for a long weekend, but even then £1200 is fairly profligate.

/*Except, presumably, the ending.
 
2017-08-10 01:53:45 PM  
CNBC has really devolved into a useless channel/website.
 
2017-08-10 01:57:57 PM  

NewportBarGuy: CNBC has really devolved into a useless channel/website.


I vehemently disagree. I think that CNBC is precisely as useful as it has always been.
 
2017-08-10 01:59:11 PM  
Also:
"Considering that Americans attend an average three weddings per year, it isn't so far-fetched to start worrying that your spending habits on booze, flights and presents could keep you out of your dream home."

Attending a wedding is not the same as attending the bachelor(ette) party.

Suspect the demographics for starter home value and amount spent on leisure also don't match.  i.e. the people buying a $200k home are not the same people spending $1500 on a bachelor party.
 
2017-08-10 02:05:21 PM  
I wish they'd stop farking around and admit that NOBODY can buy a house unless they're farking loaded, that it's not something you can do unless you're making well over 40K a year..
 
2017-08-10 02:13:56 PM  

kronicfeld: NewportBarGuy: CNBC has really devolved into a useless channel/website.

I vehemently disagree. I think that CNBC is precisely as useful as it has always been.


That's fair and I was thinking that as I typed it... However, I really did like Erin Burnett when she was on CNBC... The rest of them are just Clownshoes and Squawk on the Street might be even dumber than Fox & Friends. Joe Kernen is the biggest asshole alive.
 
2017-08-10 02:24:50 PM  
Weddings is super expensive, at least a 20% markup. I often wonder what would happen if one were to state that they were doing a merger instead.
 
2017-08-10 02:26:17 PM  

Reasonable Human: Also:
"Considering that Americans attend an average three weddings per year, it isn't so far-fetched to start worrying that your spending habits on booze, flights and presents could keep you out of your dream home."

Attending a wedding is not the same as attending the bachelor(ette) party.

Suspect the demographics for starter home value and amount spent on leisure also don't match.  i.e. the people buying a $200k home are not the same people spending $1500 on a bachelor party.


My brother and my sister-in-law went to 28 weddings last year.....
 
2017-08-10 02:26:22 PM  
How many more 'Millennial's are harming X' articles do we need before the word millennial descends into 'Thanks Obama' territory?
 
2017-08-10 02:26:49 PM  
I thought millenials weren't getting married.  How are they spending so much on bachelor parties when they're ruining the wedding industry by now getting married?

So many oxymorons with us millenials that I'm confused.
 
2017-08-10 02:27:22 PM  

whidbey: I wish they'd stop farking around and admit that NOBODY can buy a house unless they're farking loaded, that it's not something you can do unless you're making well over 40K a year..


I've bought...oh let me see...four houses in my life, when I wasn't making $40K.  Now admittedly, the most expensive one was $50K, but still....

/Watch for Sheriff auctions.  It's about the only chance you got.
 
2017-08-10 02:28:39 PM  

Peeping Tom Collins: How many more 'Millennial's are harming X' articles do we need before the word millennial descends into 'Thanks Obama' territory?


It hasn't already?
 
2017-08-10 02:28:43 PM  

whidbey: I wish they'd stop farking around and admit that NOBODY can buy a house unless they're farking loaded, that it's not something you can do unless you're making well over 40K a year..


TIL I'm loaded apparently.
 
2017-08-10 02:30:00 PM  

Grand_Moff_Joseph: Suggestion for September:

Millennials can't buy homes because CNBC's core audience went on a 30-year coke binge with everyone else's money, and after they blew up the economy, rigged the smoldering remains to siphon 99% of what was left into their own pockets.


Done in one guys, everybody go home.
 
2017-08-10 02:31:20 PM  

iheartscotch: Weddings is super expensive, at least a 20% markup. I often wonder what would happen if one were to state that they were doing a merger instead.


My fiance an I tried that and the FTC came down on us hard.  They said we'd have a monopoly on all the good looks and smarts.
 
2017-08-10 02:31:47 PM  

Reasonable Human: Also:
"Considering that Americans attend an average three weddings per year, it isn't so far-fetched to start worrying that your spending habits on booze, flights and presents could keep you out of your dream home."

Attending a wedding is not the same as attending the bachelor(ette) party.

Suspect the demographics for starter home value and amount spent on leisure also don't match.  i.e. the people buying a $200k home are not the same people spending $1500 on a bachelor party.


And the first line they talk about how going to 9 bachelor parties a year are spending what amounts to a nice downpayment when later on they say the average amount of weddings attended is 3.  That math doesn't add up.  Actually, none of this math adds up.
 
2017-08-10 02:32:01 PM  

The Jami Turman Fan Club: whidbey: I wish they'd stop farking around and admit that NOBODY can buy a house unless they're farking loaded, that it's not something you can do unless you're making well over 40K a year..

I've bought...oh let me see...four houses in my life, when I wasn't making $40K.  Now admittedly, the most expensive one was $50K, but still....

/Watch for Sheriff auctions.  It's about the only chance you got.


I could see that.

Probably not in the Seattle Metro Area, though. Unless you want to live in a former crackhouse.
 
2017-08-10 02:32:33 PM  
Strange.  The morning news today told me that Millennials are buying RVs and living out of them.  As proof of this, they found 3 Millennials living that lifestyle.  Not sure about Millennials, but I did know a middle aged guy who did that after his divorce.  Just him and 2 gigantic German shepherds.
 
2017-08-10 02:33:01 PM  

dkulprit: I thought millenials weren't getting married.  How are they spending so much on bachelor parties when they're ruining the wedding industry by now getting married?

So many oxymorons with us millenials that I'm confused.


You can have a bachelor party without a wedding.  We call it "going to the nudey bar."
 
2017-08-10 02:33:48 PM  
I know a millennial who is currently a co bridemaid and is in charge of helping plan a a July 2019 wedding. They have approximately 7 wedding showers planned that lead up to the final date. I can see how it can get expensive.
 
2017-08-10 02:33:49 PM  
Can't we just boil it down to millenials can't afford to buy a house because:
a) Financial inequality from previous generations means wages haven't kept up with the ability to purchase a home as quickly as some past generations
b) Past generations are living longer, so houses aren't available as quickly as the post-war boom
c) Loans are harded to get since the subprime mortgage crisis spurred more financial regulations
 
2017-08-10 02:34:11 PM  

whidbey: I wish they'd stop farking around and admit that NOBODY can buy a house unless they're farking loaded, that it's not something you can do unless you're making well over 40K a year..


I make about twice that, and home prices in my city are growing as fast as they were pre-bubble, so I have no prayer of buying right now.
 
2017-08-10 02:34:36 PM  

whidbey: I wish they'd stop farking around and admit that NOBODY can buy a house unless they're farking loaded, that it's not something you can do unless you're making well over 40K a year..


I have a house. I put 20% down. I managed this incredible feat by saving my money and not blowing it in some narcissistic celebration of gettin' booty......
 
2017-08-10 02:35:52 PM  

iheartscotch: whidbey: I wish they'd stop farking around and admit that NOBODY can buy a house unless they're farking loaded, that it's not something you can do unless you're making well over 40K a year..

I have a house. I put 20% down. I managed this incredible feat by saving my money and not blowing it in some narcissistic celebration of gettin' booty......


Yeah but seriously, instead of insisting that everyone get more bootstrappy

shouldn't it Just. Be. Easier. to buy a home?

For everyone?

*cue mass thread eyeroll*
 
2017-08-10 02:36:10 PM  

kronicfeld: NewportBarGuy: CNBC has really devolved into a useless channel/website.

I vehemently disagree. I think that CNBC is precisely as useful as it has always been.


"Not paying our workers a living wage isn't helping anybody, so let's not pay our workers a living wage." -- Most TV economic pundits not named Robert Reich.
 
2017-08-10 02:36:18 PM  

Reasonable Human: Also:
"Considering that Americans attend an average three weddings per year, it isn't so far-fetched to start worrying that your spending habits on booze, flights and presents could keep you out of your dream home."

Attending a wedding is not the same as attending the bachelor(ette) party.

Suspect the demographics for starter home value and amount spent on leisure also don't match.  i.e. the people buying a $200k home are not the same people spending $1500 on a bachelor party.


Well you have to have multiple bachelor parties too. You have a destination bachelor party like Vegas or the Caribbean and then your local bachelor party.
 
2017-08-10 02:36:40 PM  
Our biggest problem was just not having enough cash on hand. As young people with one good job and one crappy job, having several thousand dollars lying around was the biggest issue.

It's the same kind of thing that got several thousands of people in trouble before, they are in bad financial shape and it is very hard to get out of.

Somehow I doubt it is bachelor parties and wedding gifts.
 
2017-08-10 02:37:04 PM  

NewWorldDan: Strange.  The morning news today told me that Millennials are buying RVs and living out of them.  As proof of this, they found 3 Millennials living that lifestyle.  Not sure about Millennials, but I did know a middle aged guy who did that after his divorce.  Just him and 2 gigantic German shepherds.


There's a youtuber called Nomadic Fanatic who lives that way with his cat that I watch sometimes.  His life appears to be an endless dumpster fire, poor guy.
 
2017-08-10 02:37:51 PM  
I think we've hit peak avocado toast, at least when it comes to headlines.
 
2017-08-10 02:38:21 PM  
One of my favorite things about being a millennial is working a job that barely pays living wages. There I'll have a co-worker in his or her 50s who will fondly tell me about a job they had when they were my age. Some sweet factory gig that paid way more than this one before inflation and where they barely had to do any work.

Then they get mad at me for renting a floor for cheap from my parents because when they were my age they already had their own place.
 
2017-08-10 02:38:25 PM  

iheartscotch: Weddings is super expensive, at least a 20% markup. I often wonder what would happen if one were to state that they were doing a merger instead.


It depends. I went to a church/hotel wedding and a courthouse/meeting-room wedding. The didn't cost the same. For some reason, the couple that'd been dating for 17 years didn't want a fancy wedding.
 
2017-08-10 02:38:56 PM  
The people who can't afford a downpayment on a house -- and are serious about wanting to own a house -- do not overlap the people attending nine out-of-town bachelor parties.

Maybe I'm just antisocial, but nobody I know is attending that many expensive bachelor parties.
 
2017-08-10 02:39:36 PM  

Peeping Tom Collins: How many more 'Millennial's are harming X' articles do we need before the word millennial descends into 'Thanks Obama' territory?


Thanks, Millennials!

/lulz
 
2017-08-10 02:39:55 PM  

LaBlueSkuld: One of my favorite things about being a millennial is working a job that barely pays living wages. There I'll have a co-worker in his or her 50s who will fondly tell me about a job they had when they were my age. Some sweet factory gig that paid way more than this one before inflation and where they barely had to do any work.

Then they get mad at me for renting a floor for cheap from my parents because when they were my age they already had their own place.


obligatory:

img.fark.netView Full Size
 
2017-08-10 02:40:01 PM  
 
2017-08-10 02:40:15 PM  
From a Gen Xer, let me say: Millennials, welcome to:

rukminim1.flixcart.comView Full Size


You'll get over it.  Or you won't.  Whatever.
 
2017-08-10 02:40:26 PM  
Who the hell goes to 9 bachelor parties a year? I can see four weddings a year, but 9 bachelor parties? This article is flawed.
 
2017-08-10 02:40:40 PM  
I thought the whole thing about millennials was they wanted to spend their money on experiences rather than "stuff" like houses?

https://www.forbes.com/sites/ashleystahl/2016/11/15/how-millennials-s​p​end-their-money-hint-experiences-trump-possessions/#4750faaf5cfb
 
2017-08-10 02:40:58 PM  

whidbey: I wish they'd stop farking around and admit that NOBODY can buy a house unless they're farking loaded, that it's not something you can do unless you're making well over 40K a year..


Where the fark do you live?
 
2017-08-10 02:43:03 PM  
I know what I'm doing thanks. Spending money is not one of them... neither is saving. Hard to save what's not coming. Why yes... thank you for asking... I do happen to have a masters degree and live near the hood.
 
2017-08-10 02:43:30 PM  

LarryDan43: I know a millennial who is currently a co bridemaid and is in charge of helping plan a a July 2019 wedding. They have approximately 7 wedding showers planned that lead up to the final date. I can see how it can get expensive.


This marriage will end up in divorce in July 2021. By the way, 2 years to plan a wedding? Do a ceremony and a reception and be done with it. Get on with life because the marriage is only the start.
 
2017-08-10 02:44:14 PM  

whidbey: iheartscotch: whidbey: I wish they'd stop farking around and admit that NOBODY can buy a house unless they're farking loaded, that it's not something you can do unless you're making well over 40K a year..

I have a house. I put 20% down. I managed this incredible feat by saving my money and not blowing it in some narcissistic celebration of gettin' booty......

Yeah but seriously, instead of insisting that everyone get more bootstrappy

shouldn't it Just. Be. Easier. to buy a home?

For everyone?

*cue mass thread eyeroll*


We tried that, remember? We were giving out home loans to anyone with a pulse and some people without them. It didn't work out well. Or, are you saying that we should devalue the entire housing market?

/ would you prefer Widow or Orphan meat?
 
2017-08-10 02:45:06 PM  

Kit Fister: July: Millennials can't buy homes because of avocado toast. August: Millennials can't buy homes because of bachelor parties they suck at saving and managing money and living within their means.

FTFY.


Took longer than I expected for that post to show up here.
 
2017-08-10 02:45:56 PM  

BMFPitt: whidbey: I wish they'd stop farking around and admit that NOBODY can buy a house unless they're farking loaded, that it's not something you can do unless you're making well over 40K a year..

Where the fark do you live?


You beat me to it.
 
2017-08-10 02:46:24 PM  

iheartscotch: whidbey: iheartscotch: whidbey: I wish they'd stop farking around and admit that NOBODY can buy a house unless they're farking loaded, that it's not something you can do unless you're making well over 40K a year..

I have a house. I put 20% down. I managed this incredible feat by saving my money and not blowing it in some narcissistic celebration of gettin' booty......

Yeah but seriously, instead of insisting that everyone get more bootstrappy

shouldn't it Just. Be. Easier. to buy a home?

For everyone?

*cue mass thread eyeroll*

We tried that, remember? We were giving out home loans to anyone with a pulse and some people without them. It didn't work out well. Or, are you saying that we should devalue the entire housing market?

/ would you prefer Widow or Orphan meat?


Devaluing the entire housing market does actually sound like a good idea. Let's do that.

/how do we do that?
 
2017-08-10 02:46:45 PM  
As someone who's off to an expensive bachelor party tomorrow, all I can is I don't want to go...

I don't need to spend all this money.

And I don't need to have to lie about what happened to all your significant others.
 
2017-08-10 02:46:54 PM  

Fark Against the Machine: iheartscotch: Weddings is super expensive, at least a 20% markup. I often wonder what would happen if one were to state that they were doing a merger instead.

My fiance an I tried that and the FTC came down on us hard.  They said we'd have a monopoly on all the good looks and smarts.


I laughed.
 
2017-08-10 02:47:29 PM  

iheartscotch: whidbey: I wish they'd stop farking around and admit that NOBODY can buy a house unless they're farking loaded, that it's not something you can do unless you're making well over 40K a year..

I have a house. I put 20% down. I managed this incredible feat by saving my money and not blowing it in some narcissistic celebration of gettin' booty......


So someone who makes 10-12 bucks an hour should just save the 20-30k for an low to average house around here via what? magic? Not eating?

I'm just curious how you managed to save that much money because I would love to have some extra cash but these bills keep getting in the way.
 
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