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SLEEyawnPY t1_j1hx0fz wrote

Reply to comment by March_Latter in How people afford life in MA??? by [deleted]

>I have no idea how the younger generation affords a 400k mortgage, and suv, an audi, and two kids.

Could it be...the very favorable rates on offer from the first national bank of Mom & Dad?

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March_Latter t1_j1hxjp6 wrote

I hear that often but honestly my friends parents have all just retired and the vast majority of them would be happy to give 25k for a down payment and help out with the grandkids but thats really it. Mom and dad are really not that wealthy. I am of the age where supposedly my generation should be kicking some money to the recent college graduates and honestly, what money? From where? New basic car sure. You want an Audi? nope.

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SLEEyawnPY t1_j1hzvn4 wrote

>I am of the age where supposedly my generation should be kicking some money to the recent college graduates and honestly, what money? From where? New basic car sure. You want an Audi? nope.

If you have about 25 G you want to endow me with right now in cash purportedly to purchase a "new basic car" I assure you I could find a way roll up in something nice pretty soon

>Mom and dad are really not that wealthy.

Telling anyone who will listen "You should see the size of my bankroll, holy crap" isn't really the New England style. Oh, no. No "generational wealth" around here... <boggle>

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March_Latter t1_j1i33x6 wrote

The point you miss is yes, our parents in some cases had some money. Not the money you think was there but enough to live comfortable. But they all had at least two children and most lived deep into their old age. Divide by at least two and get killed with inflation for a while and big dollars become small dollars. My father was very well off when he retired. But he had five kids.

I think like most people you get your economic ideas from Hollywood.

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SLEEyawnPY t1_j1i3rgm wrote

Okay but not everyone 'round here in the year of our Lord 2022 had your personal dear old Mom & Dad for their family, or were even their buddies.

>I think like most people you get your economic ideas from Hollywood.

You said "I have no idea..." but I can definitely come up with ideas, at least. Not implying I know God's truth on the matter. But people who seem to be living significantly beyond their means often are and one of two things usually happens, they go bankrupt in relatively short order or the money comes from somewhere.

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March_Latter t1_j1i44s6 wrote

I think the most valuable thing I got from my well off parents is the ability to read and understand the English language. They never thought it was that valuable in the 80's but come the 2000's and that is a rare skill.

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