Today at 34 years, 1 month and 2 days old - I hit 100k in my 401k (with company 4 years), and 1M net worth

[kc316]

@resjudicata No. They wouldn’t have. They would have had the same fence. Concrete work. AC. And stove. They would have had to pay all these things on top of their mortgage.

Nothing covered by insurance. All out of pocket. Yes I have an emergency fund just for this property.

And no. Rent will not be reduced. As houses get older they require more maintenance. Not less. One day it’ll need a new roof. A new AC. A new furnace. A new water heater. New fridge. New stove. New dish washer.

That doesn’t stop. That’s why rents remain the same. Or go up. (Higher insurance. Higher property taxes).

Her rent will remain the same for one more year. Due to covid. In another year it’ll go up to $900 and remain that for three years.

 

[thespiritoftruth]

@resjudicata I could have put away an extra $100 a month if my grocery store don’t take a profit, another $100 if my auto insurance don’t take a profit, $50 if fuel company don’t take a profit. I can go on forever if you want.

 

[bdaroowala]

@kc316 You realize there is a huge demographic of people who need shelter and are denied it because they cannot afford it.

 

[kc316]

@bdaroowala If they can’t afford rent most likely they cannot afford to own a home either.

This isn’t the fault of of landlords.

There is government assurance programs for folks like this and FHA for those who have good credit.

 

[bdaroowala]

@kc316 No, this system is not the fault of present landlords. They do directly benefit though by exacting a price for something that we all need to survive.

 

[lovemyricecooker]

@bdaroowala How does that differ from people selling food?

 

[bdaroowala]

@lovemyricecooker It doesn’t. You mean to say you aren’t angry that some people can’t afford food?

 

[thespiritoftruth]

@bdaroowala I don’t think you’re living in the right country. Capitalism does not align with your believes.

 

[bdaroowala]

@thespiritoftruth It doesn’t but I’m not going to leave or stop organizing and educating. There are people that need help and there are people living comfortably that could have a lot more freedom if things were different. I want to help make sure that could one day happen.

 

[lovemyricecooker]

@bdaroowala I can both be upset that people can't afford food but that doesn't equate to being angry at farmers, chefs, or restaurants that profit from the sale of food. I want to live in a world where people don't go hungry but the food industry is not the reason people go hungry.

 

[bdaroowala]

@lovemyricecooker Well it’s certainly part of the reason though right? If they were giving it away then it follows that this problem wouldn’t exist.



You are right though. The industry isn’t the root cause of the issue, it is deeper than that.

 

[lasturianu]

@kc316 While you’re not wrong you seem to be divorced from the reality of the common American family

 

[kc316]

@lasturianu How so?

I grew up quite poor. My parents couldn’t afford college so I went to a community college. I learned a trade.

I bought my first house at 23 for 50k. It was an old 1900 house back in 99. Needed a ton of work.

Took me YEARS to save money. To put it away. Pay down all debt. Lots of schooling to earn my degrees.

My favorite used used to be the 2 for $5 white keds canvas knockoffs.

I recall it quite well growing up. I also remember making $4.25 minimum wage. And after a full summer of working getting a $0.05 wage increase. And taking the bus to work. Or walking three miles—depended on the job.

It’s also the reason why our rental is $875 a month. Not a $1000 a month. It’s enough. We don’t need to be making money hand over fist. We also aren’t slumlords. I would live in this house if only it were bigger. I’m proud of it.

 

[lasturianu]

@kc316 Just because you grew up that way doesn’t mean that you’re not currently disconnected from reality.

I lived in a low cost area and rent has almost doubled and home prices nearly tripled in the last 6ish years. The economy has changed since 1999. Wage growth hasn’t really changed.

I’m just saying that it’s just not the same as it used to be. In my area loads of properties were bought up in the last downturn. Our state charges a ton for new builds. Chinese buy up loads of homes and never live in them and prices end up way higher than local wages will support.

It’s way more complicated these days my man.

 

[kc316]

@lasturianu 20 years ago when I lived in Sioux Falls South Dakota my rent was $660 a month. 2 beds.

My rental is 875 a month. It’s a 2 bed 1 bath house.

20 years. I would day my cost is about the same.

There are many apartments here in Omaha where I’m at now you can get a 2 bed for 700-900 a month.

So I realize that some parts of the country are different. But I’m the Midwest things are a bit different.

Come live here!

 

[lasturianu]

@kc316 Thanks man, I appreciate the invitation but honestly it would be difficult with a mixed family. Things are definitely different when it comes to housing in the coasts. These wild swings are nuts and hard to feel like it’s not fair at times. My wife and I are literally paying over double what our peers are because our careers took off at different times and it sucks

 

[thespiritoftruth]

@bdaroowala So people should live on the streets instead?

 

[bdaroowala]

@thespiritoftruth I think people should live in their homes. Access to shelter and housing should be considered a right. Putting a price on it seriously hinders the lives of many. It can also outright block those in situations that need housing the most from receiving it.

 

[thespiritoftruth]

@bdaroowala It surely a righteous thought but who would pay for the homes?

 

[resjudicata]

@thespiritoftruth It is cheaper to house people for free in their own home than the current system of hospitals, shelters, etc. The government that is covering those exorbitant bills can shift to just paying a mortgage for someone.