The Doomers Are Right
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- čas přidán 10. 01. 2024
- Zoomers are right to be worried about the affordability/housing crisis.
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My biggest mistake in life was being in elementary school instead of buying a house
It's not like you watched a young millionaire... Who obviously has succeeded... What's holding you back?
@@blackflycanada4943 Being in elementary school probably has to do something with it
@@blackflycanada4943 Do you mean aside from every financial and government institution wanting me dead and broke?
Not just that! You should've gotten married as well.
True. lol xD
living with my parents is now the single greatest privilege I have.
good for you to have such an option
Understand how great that is and don't abuse it. My family got more or less torn apart and I got kicked to the streets for standing up to abuse, this was a few years back during the height of covid. Thankfully okay
@@winlover37
I'm sorry that happened to you. I believe a lot of us experienced something not too dissimilar... sadly.
@@nathan_something Thank you, I'm sure it has and my heart goes out to anyone that it does. We're in the worst time right now for broken families. You don't realize just how much of a safety net a family home is until it's gone.
I've been keeping on, occasionally struggle to see the light ahead, but I just keep on trucking. The goals to find any small shoebox of my own to call home and weather this crazy storm we're in. All I can do really.
@@acmhfmggru With all due respect, you don't know the situation at all. I'm living with the consequences of my actions obviously, but I'd fucking do it again.
To put into perspective the world my parents brought me into.
I'm going to work in healthcare, and the health insurance they offer doesn't even cover a checkup at that same hospital. I have to pay for the entire bill for a basic health check even while using the health insurance provided by that very same hospital of which I work at as a medical professional.
The irony is so real you could forge it into a suit of armor.
I've never met a person in the medical field that didn't have the exact same story.
How high is the deductible?
Healthcare is a can of worms lol
my cousin is a maintenance technician for a healthcare company and yes its the same for him he has to rely on his fiance's health insurance.
That's actually not a bad idea... Forged Irony Armor could deny reality rather plausibly and laugh in the face of Gods and Men alike.
When I bought my first house, 97, it was 110k It sold in 2003 for 250k. Today, I have to pay 1k to have a single cat spade. In 1997 to have a cat spade it cost 50 bucks. The cost of living increasing so dramatically in such a short time goes beyond inflation to criminal over spending and political corruption on a scale unprecedented in human history. (Globally)
If you could proactively remove an organ 5 years before it became a problem, that would be a good investment.
*spayed
I would get a regular spade then. You can find them for ~$25 at Harbor Freight. $50 for a nice one
this is what happens when boomers buy all the houses and then jack up the prices by 1,000%
@@SlurMaster9000 Could be messy.
Yeah this is what happens when people view housing as an investment and then push for housing supply restrictions to artificially boost the value of their home. We need to build more housing.
Supply is a complete distraction / misdirection. We're building at the same level we have for 30 years, yet things didn't explode until the last 5. There's another number that has exploded though: demand.
Well actually 🤓 the new builds have decreased but the number of homes held by private equity firms has skyrocketed and caused this decline in availability. Also the affordable new home builds are just fkn dumb nowadays.
Nope. The boomers aren't done making money yet
Just Building more housing is not gonna be enough. Big investment firms are just gonna buy it all up keeping the prices high.
We need to tax unoccupied buildings and unused land.
I was a "rich kid" until high school when my family lost everything in the 2008 recession- the business, the house, everything. The reality check that came with that was an invaluable life lesson. I shudder to think who I would've become if I had never learned the value of money at that critical age.
Same, we never recovered from it either. We've been living paycheck to paycheck since the 2008 recession and the recent recession has just been pushing us down even further. Since then my mind has been continuously blown by the stupid and wasteful ways that rich people spend their money. Human civilization deserves to fall tbh
@@kaijuultimax9407
Belief in the system we have is the only thing seperating modern society from neolithic subsistence farming. If people stop believing it will fall. As soon as one acknowledges that, one can also believe that better societies are possible.
I have a friend who never learned the value of money... or well I used to have him as a friend. He became very unpleasant to be around. Had such a fun time during high school though.
The rich people like your parents apparently used to be? Sounds like everything is your parents fault@@kaijuultimax9407
Similar story here but it was a series of family events in the late 90s. We were never rich, but we were solidly middle class and then fairly suddenly we were poor, living in a dumpy run down apartment and barely scraping by. I learned to repair things out of necessity and I learned the value of money. Any time I buy something I look at it in terms of how much do I have to work in order to pay for this and is it worth it.
“I’m doing fine, but I get it” is a simple but nice thing to hear for someone struggling to do fine.
It’s the gaslighting by those with the means to thrive that really hurts the most, especially when you are pushing through hardships they will never experience or understand.
Let’s try not to invalidate so easily each other’s struggles and efforts.
"Hey man, I'm struggling too, I just had to downgrade to a cheaper brand of caviar because my wealth manager told me I need to tighten so that I can afford my twice annual all-inclusive three week trip to Jamaica and still afford to retire wealthy."
It's exactly the infighting and kicking down on the social ladder by us normies that keeps the elite in place 😢
So you're absolutely right about not invalidating each other! ❤️🩹
It's fucking brutal out there. I'm in a similar boat and I feel for you.
Lol @@theredscourge
What exactly do you propose he do? He can't pretend he's not well off, and he can't make everyone else rich too. Don't be a moron.
I have never been making so much money in my life, and at the same time struggling so hard to get by.
Nothing, NOTHING, hits as hard as when you get the job, your pay goes up by 15% and 2 months later you are right back to struggling.
The world is broken folks.
Sounds like my experience. I'm doing alright, just not enough to buy a house. Feels like if I do it I'll end up eating ramen staring at my empty house.
Government supports unproductive people and run more deficits, so the value of money continues to drop.
As Linus says early in this video, finding the right life partner is the solution. 2 incomes offers massive economic advantages over a single high income.
@@conchobar Which doesn't fix a broken system.
No, I wouldn't be where I am without my partner, but placing a financial burden on someone else when we are earning more than minimum wage, what they could legally pay me at minimum in our current society, is wrong.
@@wayward03I don't know about where you are, but currently mortgages are less than rent around here. If you can afford the down payment (which is the hard part), you absolutely should buy a house.
imagine that soon only possible asnswer to question "dude how do you afford your living? " will be " yeah i got lucky"
#LateStageCapitalism
@@MKUltraPill Not sure why people want to give it a new name its just the Big return of Feudalism.
Maybe that is just why people gave it a new name to disguise the ancient horror that is currently its best at returning.
"I ate the rich" is also one
Lol that's already my answer.
Even then "afford" is a dubious statement.
It increasingly feels to me as though powerful lobbyists are pushing policies which deliberately erode the middle class. Making home ownership and entrepreneurship untenable for all except the very richest rentiers.
Only just now? It's been going on for decades
Thanks Reagan
Yep, lots of big megacorporations like BlackRock buying up houses in particular. Consider how Larry Fink got his money. Blame that guy, not Reagan lmao, how echo chambered can you be to think this is all about some long-gone politician.
What makes it feel that way?
At least in the U.S., its not lobbying. Its the voting problem. Not enough ppl vote. Especially and specifically in local, county, and state elections which is where housing policy is actually made. If you are feeling the doom that this video is about, ask yourself when, if ever, was the last time you voted in a state legislature election on an off season (years 1 and 3 in the US, not midterm and presidential years)? Did you go to your mayoral election? City council? Your governor? People just need to vote.
Corporation's owning homes should be illegal!!! Houses are NOT and investment, nor should they be. They are an essential part of life and should be a right to a degree!
That's only a very small portion of the problem. High immigration and super low home building is the problem. There are simply not enough homes being built. Lots of regulations and government red tape.
The dopamine hit blackrock gets when they outbid a single mom 😂
@@wayward03 While I agree with you on immigration, housing in general is a depressing mess for a variety of reasons. One of them that annoyed me to high heaven while looking to buy a house in florida is the gatekeeping. Anything affordable is 55+. I just wanted a roof and a bed but noooo, be damned if you're not old and crusty in that dumpster fire of a state.
Renting should be illegal. Every house should be pay to own,
NIMBYism is probably the second biggest problem if not even bigger of a problem, as well as urban planning.
Burgerstani urban planning is atrocious. A'ight, even with the LAND prices being really high, you could just build apartment blocks instead of typical Burgerstani houses. Even making each apartment as big as a house in a 10 floor block is still an upgrade simply because of the stacking that cushions the land cost. You get more density per square meter.
NIMBYism is what prevents from having more easily available supply. Japan doesn't have NIMBYism and even Tokyo is as cheap to live as in some shithole ex Soviet country's capital city. Construction companies can get away with building that many houses that housing becomes quite cheap, all things considered.
But Burgerstanis have no impulse control, they just want to have their big mac and eat it too. You don't need socialism to solve it even. Just giving people a reality check that they can't have their cake and eat it too will help.
As a spoiled brat, one of the things that fixed my poor money handling was being given a lump sum allowance for university, pissing it away on poor decisions, and then suffering for months for it until the next semester. Linus' kids are probably too young for this exact experience, but the general theme of letting the kids hang themselves on their own independence probably applies.
Incidentally, I can also say from experience that the moving out for a year thing won't work; my family moved into a real wreck of a rental for a year while the family house was being rebuilt, and that didn't do shit for my common sense until the above self-destruction.
The good old f around, find out
if your parents made you work for your money you wouldnt be so quick to spend it. Thats the thing bud. You were spoiled. Dont spoil them. Make them get a part time job at 14 and pay for their own college, own car like the rest of us. When you work for something you value it. When you are given it you never will.
@@ZaHandle The best method
Making the kids share a single bedroom for a few months will do way more for them than moving houses, and take a lot less effort to arrange.
Build character, start them young, it's cheaper and easier to never been spoiled than to unspoil a spoiled brat
I am old. 43. The struggle is so real that I do not have any answers for my kids. They know that they will get everything I have obtained, but I have no answers for them on what to do or how to live in this society. I was raised on the fake idea of the "American dream" so at least I had SOMETHING to strive for, even if it was a big lie. My kids have nothing really. The best i can do is get them into space, science, math, stem stuff. I guess I could tell them to just do what makes them happy, and that isn't always money, but can often require some.
It sounds like you care and are doing what you can to educate them so that makes you a good parent. There’s plenty of careers that provide enough income to survive comfortably in this current situation. Just make sure they understand that not all career paths pay.
Weak
Linus mentioned how important it was to have a partner. I think that's one solution, but there are others. Point is, we need to tell our kids they're going to have to work together to achieve their dreams. Standing alone just makes you easy to knock over.
See if they can reach their artistic potential, in whatever arena that is
@@user-yl5pg3kx1q Or you can be like me and graduate in 2021 with a Computer Science degree right as the tech industry started it's current downward spiral of consolidation and layoffs (this also means no one is hiring college grads/junior engineers).
The "rich kids" thing is so spot on.
The problem is housing as a centralized investment. One landlord owning a few houses isn't the end of the world, but if a corporation like BlackRock owns a neighborhood, they can charge whatever they want. That's the enemy.
Yet people keep investing in black rock and give them more money. I did u intentionally. Found out my 401k was vested in them.
@@silence19999 boycotts almost never work, especially when you lose money on them.
yup thats the real threat
immigration is the problem too...
@@silence19999 Boomers aren't people and 83% of the shares are owned by that co-hort. Grandma selling her shares is the greatest threat of a down-turn; greater than WW3 (which would probably make it skyrocket)
Genuinely, the most important thing is to make sure your kids are empathetic to others and that they understand that people can bust their butt and still be poor. Moving up the social ladder takes luck, opportunity, and hard work.
And even that isn’t enough, sometimes it’s just straight up luck that determines things for someone’s future
Yes. And don't forget the poverty taxes. There is simply no justice. It feels surreal every time you get rid of one.
Also teach them to never waste a good opportunity. So many people go I don't wanna work trades it's hard, and trades have had their wages go up a lot not enough imo for the economy but a hell of a lot more than most jobs. So while a lot if my friends from HS are on min. Wage and I own my own house is because I didn't care how hard I had to work or how difficult the job was it paid more and I did it. But even then things feel super fucked these days so I guess that's advice that would have been good 5 years ago.
@@leonkennedy9739 I work in the trades and most of the time we’re exploited a lot
So I don’t blame them
And even that is a myth. Our economic system is not built so that people can boot themselves up by their pullstraps.
I know you may get some flak, but I personally enjoy hearing your thoughts on raising kids, Linus. We've got 3 of our own and (while not as successful) want to make sure that they are kind, genuine people. We've choiced out of the public school district that we're in because it's where all of the "rich" kids go. We want our kids to be around other normal people and learn how to have the same kind of lives that my wife and I had growing up.
by doing that you are literaly sabotaging your kid's future on a prejudice about people you don't actually know
i would be honestly pissed if i was your kid, but maybe they will just receive sub par education so they can't actually realize that, who knows
@@xLuk3xIn Canada schools are funded the same regardless of local property taxes, all this does is allow them to socialize with a wider variety of people
But this is the problem... Being rich and playing poor doesn't teach a kid anything. They can limit their access to money, but it's still there when they need it most. There is no risk because they can go back to their old life.
Do you think Linus will live at the poverty line for long? Eat struggle meals of canned spaghetti on toast? Or even just ramen? No, I really doubt they will let their cupboards run empty, visits to Goodwill to try and find a shirt his kids won't grow out of too soon, ect.
@@planefan082idk man, my dad graduated from compton high school and got accepted into ucla. Couldnt go because he was too poor so he went to a local college instead. I sincerely believe if their kids work for it they can make it anywhere, even at a “poorer” public school
@@PsiDebby But you don't have to grow up in poverty to become a decent human being
Gave up completely on home ownership here. In my early 30's and coming to terms with the fact I'll likely work till I die and have nothing to show for it. First chance I can get to leave this sinking ship of a country I'm gone...
No you will work even on hell until the return of Jesus. I thought retribution would be more metal.
Live with your parents and fuck it.
Help with the bills, don't be a douche. Also, save money to do something in the future, be it opening a company or buying a home.
@@thaedleinad Why do you assume their parents will just accept them living at home? I was personally kicked out at 19, and my siblings were even younger.
@@GhostSamaritan I am sorry that happened to you, but it's not my case. I plan to buy my own place in a few years, but it's only because I still live with my parents that I can do that.
@@GhostSamaritan Good ole american parenting 😂 This was the way to go up until the early 00s, after 08 it's just bullying.
We're well on our way to a Cyberpunk 2077 future. We're all going to be constantly struggling because corporations want it that way and the governments they own let it happen.
Already there
Eternally continuing (business) "growth" does not come without eternally growing demands.
govt print money > give it to corporations > corpos know the money supply has increased so they buy property before the prices go up > prices go up > people go crazy > govt print more money to give to people to please them
Globalism = what used to be referred to as the NWO. They are so bold now as to advertise it on the United Nations and even on the Canadian gov website(might have been Commons). Agenda 2030 they call it. Sounds like tin foil hat stuff but it's very real and the wording is EERILY vague. Lawyer-speak
governments won't save you either
Ban rental apps (Airbnb), limit houses to 1 per family (you and your spouse/common law), and make it illegal for companies to own residential houses. Boom, suddenly, so many houses
This!
We also still need to build more houses (and of the denser variety) to tackle housing affordability. Our zoning codes and parking mandates make housing artificially scarce and expensive.
We are not making enough housing to keep up with our growing population. Allowing more housing types like duplexes, triplexes, ADUs, etc could do a lot to make houses more affordable
Wow. That's what the government thinks the issue is. Airbnb bans were put in place in so many cities, foreign buyers, investments, all banned and yet, the price is still going up. It's pretty simple math, Canada brings in between 300k and 700k immigrants per year, it is NORMAL that hous8ng needs to be built. It's not being built. So stop try8ng to find scapegoats, just gotta build like 5 times the amount of hous8ng we're currently building, and then it will solve 90% of the problem
Norway, I think actually makes it, so that way if you don’t occupy a residential building for a certain amount of time you automatically lose ownership
lmfao. until people stop using their houses as retirement, the issue wil only get worse.
I genuinely enjoy listening to linus talk about the economy.
For a literal capital owner he's pretty down to earth on this kind of thing.
'The system is rigged against you badly, but you should always follow its rules' is perhaps not the best take
@@mycosysyeah sometimes you have to break the rules just to survive
and sometimes, you need to break the system @@Rockardo_ ;)
@@mycosyshe lives in canada. the last time someone (truckers) tried to fight against the govt thier bank accounts were frozen. So I appriciate he was as real as we was even MENTIONING the economic crisis. Ofc he cant talk about any real solutions but its at least something
The federal minimum wage in the USA is still $7.25 per hour.
here's the kicker though, minimum wage is part of the problem.
@@Born_Stellar explain.
@@Born_Stellar would lowering minimum wage make a difference on home prices?
@@NebulaShadow_ min wage was created to keep minorities out of the job market. now it only serves to increase inflation. if there wasn't a min wage people would make less, but there would be more jobs available and pretty much everything would be cheaper as a result. at this point you can't really jus 'remove minimum wage' but if it was never in place wages and pricing would have equaled out at a much lower number and in the end we would have more people working and more value in the economy as a whole as a result. yes there would still be people needing assistance, but we have that anyways with min wage. theres much more to it, its a very nuanced topic, but essentially if you look in the time before min wage, more people owned homes and more people could afford to live.
@@bobowon5450 eventually they would go down, yes.
As someone who grew up in a wealthy home that suddenly was poor at age 11, I can say that my 18-21 yr old self was thankful for the preparedness of being on a budget. But my 23 to 34 (today) year old self is incredibly annoyed I cannot be productive with wealth. I was taught how to be poor, I wasn't taught how to be wealthy
Just stick any extra income into an index fund and call it a day. If you really want to you can learn how to properly invest but that's a long road and not for the faint of heart.
Haha same. Well very similar, because wealthy never applied to my family within the last 100 years.
I hope the 20s, 30s and 40s don't repeat.
But I might be well enough off to avoid the tantrums of the people in uniforms. Unlike my family 100 years ago. They just have stories of getting lucky and others they don't wanna talk about.
life isn't over yet, you can still learn
The main problem with "rich kids" is the parents are absent, either physically gone (nanny's etc) or ignoring them/letting them do/have anything they want.
Being good parents should usually be enough to keep them grounded.
My generation will never pay back our student loans, never retire, can’t save money, will work until we die, can’t afford to buy houses, and will have fewer kids because we can’t afford them. On top of that, it’s getting worse. I don’t see a way out of this.
And then AI will automate all work and we'll be reduced to UBI dependent serfs, getting by with only the absolute bare minimum quality of life.
Welcome to the third world, that has been their reality for many generations.
@@lostzephyr2191 I will sound a bit insane saying this but if it ever does get to that point where you can no longer earn anything, finding a job is near impossible and you can hardly even afford to have a hobby... Fuck do I hope people become desperate enough to where real action is made.
Not by voting through rigged systems, not by marching. Real action. Right now everyone is making by with just enough to where they can just cope about it or are too busy fighting each other instead of dealing with the real issues.
If we got no dreams to chase, what's there to lose?
This is pretty much how it's been for most minorities for decades. Trickle-up poverty.
But the immigrants will have kids because they get your taxes ;)
Renting a second apartment to simulate being poor is next level rich kid🤣
I'm sure his heart is in the right place, but yeah. Spending a year to cosplay at having a modest income is... Perhaps misguided. In fairness, I don't have any great alternative solutions to the problem, but yeah.
Honestly the grossest thing I have heard Linus say. All criticism is just met with "stop guys stop", does Luke not realise that if your only counter argument is "please stop" you don't have a counter point at all
Then his justification is that he will be renting out their current place and not buying a second place. Great, now you're taking away an affordable property from a regular family that could be living there, AND profiting from renting out your own mansion. I don't know how he can spend 10 minutes virtue signalling about the housing crisis and not see the irony of his idea
If you want your kids to be humble make them earn things. They should be doing paper rounds and working regular teenager jobs once they're old enough. Get them to volunteer in homeless shelters, preparing food for them or caring for old people
Cosplaying as poor for a year is just champagne socialism at its finest
@@BanAaron Even if we ignore any concern over denying anyone a more affordable housing the problem is that such an act will not really tech how being financially restrain actually feels because in the end the stress of actually struggling is not there since you know you have money.
Growing with parents not affording things and even needing to give away money given by relatives to us kids as present just to get by is a whole different experience than pretending to be poor.
There is fighting in the house on what to do, sadness of not being able to get anything you want, stress if your family will be destroyed etc.
Playing poor can not create the kind of climate an actual struggling family goes threw and the kids will feel that in the same way they feel the stress and agony when the family actually does have financial problems.
What he needs to teach them is not how life can be without as much money(because he can't) but the value and effort that is needed to have money. As he said the issue with his kids is not that they are rich but that they simply have no realization on the value of what they have or the effort needed for it to be there. Since the grew with money they see money as just something that is there.
He need to make them work for something and earn things so they will understand that money aren't just there.
They’ll be LARPing as poor people for a year lmao. I wonder if they’ll vlog it 😂
Pretty absurd, that’s not going to do shit. Give them an allowance for chores and don’t buy them whatever they want, make them save up and buy them. When they’re 15-16 buy them a cheap beater car and make them get a part time job to pay for gas and insurance and going out.
Only way they’re going to value money is if they have to earn it themselves and learn to save for things. My two bosses make bank and their kids turned out fine because they had to work their way through college and weren’t handed everything.
I run a small business, doing software engineering at relatively low cost for new businesses - NOBODY, is trying to start new businesses. The cost of a business that is goods based, that isn't dropshipping makes no sense. The cost of services, running a vehicle and travelling, makes no sense. I am only able to afford my office because my landlord is an ex-small business owner who understands how shit the situation is and got the office space really cheap, and did them up by HIS OWN HAND. I have a counter in my calendar now that is the day that I will go bankrupt if trends continue as they are. So yeah, that's the state of the world in our bubble.
things WILL get worse. prepare for the inevitable.
The money relationship is probably one of the most important and complicated thing to learn, because not only can ruin you if you grew up wealthy but also prevent you to grow if you grow poor.
sometimes being poor makes you humble
@@onomatopoeia162003 Humility is overrated for making money. The biggest go-getters I know are completely unfamiliar with humility.
To be fair to the guy that just started laughing when his laptop smashed, its not a complely unheard of thing to just break down laughing when shits gone wrong.
Depends on the laugh tho. I heard ppl have the most unhinged laugh and then there's others who just did a light laugh and moved on.
Breaking down laughing is a thing, good point
I will never forget the day back in our teens my friend and I were unloading a tractor from a truck and it slipped off the ramp, hit the ground and flipped onto the hood of the owner's classic car. It was such a "oh my god what are we going to do" moment that happened in slow motion that we both busted up laughing. Thankfully the damage turned out to be surprisingly minor but we thought sure he was gonna murder us.
Comedy is tragedy plus timing. People laugh at funerals. People laugh after fatal car crashes. If you read this, please promise to not be like "and he laughed! That was when I broke off the friendship/family ties..." Point is people can laugh when *surprised* or *shocked*, so find it in your heart to forgive them.
I remember when my truck got stolen right in front of me and the cops said they wouldn’t do anything despite actively tracking their location and I couldn’t help but laugh
I tried to open a buissness in 2021, I felt like i was literally watching the prices on commercial units increase until they were completely unaffordable.
man this episode got pretty real witht the kids an parenting watching linus struggle for making sure his kids never have to suffer like he did but also making sure they grow up to be well-adjusted listening to Linus talk about family always hits me hard the only thing he cares about more than his company is his family
This reminds me of a common joke about MBAs around these parts:
"My dad said it was time for me to learn what it's like not to have a roof over my head. So he bought me a convertible."
6:40 "minimum wage still 15 bucks"
oh, if you only knew how bad it really was.
I'm european but I don't quite understand how 15 bucks an hour is a bad wage. Ik it's not high, but it's not super bad either. I earn the minimum allowed wage by my union and it's about 12 bucks/h before tax (10 after), and that is more than enough for me right now. I could get by making half that. Here, the absolute cheapest rent you can get is probably around 500 bucks for 20 square meters. And my city is known to be one of the most expensive cities in Europe. If you don't have a family to provide for, how is 15 bucks bad? (Not entirely relevant to your comment but you seem to have some thoughts about it)
@@hugofrisk1889 in the US, $15 an hour is minimum wage in places with minimum 4 digit rent, even with roommates. Add onto that the fact that Americans pay ridiculous amounts for our healthcare, any sort of college education, and assorted requirements for survival, and that $15 does not go far.
@@hugofrisk1889you literally cannot rent a 1 bedroom apartment working 40 hours a week at $15/hr here and still have enough for food.
@@hugofrisk1889 Here, the absolute cheapest rent you can get is 4x your cheapest rent.
@hugofrisk1889 it depends where you are how much 15 dollars an hour is in the US someplace have incredibly high cost of livingnand remember there aren't many government programs to help you and you will work a lot more (no paid vacation) and can be fired more easily.
Linus, my kids are well taken care of but I’ve used every opportunity possible since they were very little to point out how blessed we are and there are people who are less fortunate. They 100% understand that. It can be taught.
That's the mindset they want you to have. and still most the assets are held by a wealthy few
@@dejangegic What's the context for this response? Are you some weird bot?
They 100% understand what you want to hear. They also 100% have huge gaps in awareness of how the world works for poor kids. Things you can't teach because you don't know them either, or if you did, forgot because they were so obvious when you experienced them.
You did not take care of your kids if that was the life lesson you gave them. Wrong time period.
it's always funny when parents think they know their kids.
11:32 A big thing that helps build understanding the struggles of those less fortunate is to do a lot of volunteering for local charities that directly impact local communities. Things like volunteering at a food bank, a clothing drive, or even handing out toys during the holidays to children in low income neighborhoods. It really puts into perspective just how little people have and how much effort it takes to provide for others.
Super key point that no one else, even in chat thought of.
Almost like it was all by design. Bailout the major financial institutions while allowing them to foreclose of millions of homes, then allow investors to purchase those homes for pennies on the dollar.
Linus you should read about how Gordon Ramsay raised his kids. He has a similar story to yours…started at the bottom and built himself up to what he is today. He made sure that his kids were not absolutely spoiled rich babies. It’s very cool
Gordon Ramsay 🤣 what a joke
@@xythiera7255 how is he a joke? He is one of the world’s top chefs. His persona on tv is just that… a character. He is actually a really awesome person in real life and puts his family first and built up his career from nothing. He also keeps himself in shape and does triathlons and all kinds of stuff. Very inspiring person.
@@xythiera7255 Found the vegan 🤭
I believe when they travel he and his wife fly first class or something and his kids fly in coach, for this reason.
@@xythiera7255If you actually knew Gordon's story it's a miracle how the guy survived his childhood let alone become successful in life
I think about this a lot. I'm 25, and i reached adulthood at pretty much the worst time. Especially considering i'm disabled..
welcome to the screwed club.
Food for thought...some cities like Palm Springs have banned AirBnB and housing prices have magically dropped. Not necessarily the magic bullet for everywhere but it puts into perspective what is contributing to the extreme housing costs that we're seeing.
I got very lucky, and I have a landlord who understands that people are people, and more than just his income. When we moved in late last year, I ended up breaking my wrist at work, and couldn't work as much for about 2 months. The man was 100% behind me. Never was pushy about the rent, just wanted us to keep him updated on when we could make a payment again. We're still a little behind on rent too, and he hasn't asked for late fees, or demanded any amount of money more than what we owe him for rent. This man is 1 in a million, but there are still good landlords
Many landlords start out as people who just want to know that their tenants will pay rent eventually, but all too often they get taken advantage of by liars, get absolutely raked over the coals by the extremely small-landlord-unfriendly and small-business-unfriendly legal system while trying to get actual deadbeat tenants evicted, and then most of them never trust anyone ever again.
The guy is a saint, lol.
Regarding the Luke's story: when I was in college I tripped over a cable while carrying my laptop and it went flying across the room. It smashed into a wall, the screen completely destroyed. I did laugh about it because, while a significant loss at the time, it's just a laptop. It was an accident so no point in crying, life is hard enough as it is.
Another thing is that the person laughing at their destroyed laptop could've been dying on the inside and laughing was the only way to vent that stress.
yeah, that's the only part of the discussion I didn't really like. A lot of people's first instinct when they find out they're in deep shit is to laugh.
The skills and knowledge I gained to live in this world no longer apply...I'm having to relearn how to succeed at 42. My career fields have all collapsed and now pay no better than working at a bar.
Same.. we're fucked just like anybody else under 60
I never commented before, but I am seeing all the reactions your wealth brought up. It’s hard not to have much and see someone so well off, I think it makes me and others angry because we do not know where else to put all the frustration churning in our gut.
But I think you are incredibly brave to be honest with us, and it shows the respect you have for your viewers.
You seem like a great dad that really loves his kids Linus❤
I think the main issue is luck, in a way, and that's in no way "fair". We are not born equal, and we don't have the same skills. An opportunity may come to me, and I may do not nearly as much as you might with it - but you'll never have the chance, because I was lucky to be the figurative 5 minutes ahead of you through no fault of your own. It's when you KNOW that "that could have been you", but you lost _before the race even began._ Coupled with the constant bombardment of "you can do it (and if you can't, there's something wrong with you)", and I'm in no way surprised that the frustration is boiling over. Even if we _were_ all equal, timing is still an unfair b...
@@EgonFreeman Finally someone said it, making it in life is all about the being in the right place at the right time with the right people, and the only one you have any type of control over is people, and maybe place if your rich enough already.
There is no surefire way to "make it" but as other people have said the only thing you can really change in all 3 of those variables are you and the people you surround you with so work on those 2 and hope for the best.
@ipodtouchiscoollol imo a lot of people maybe not even most have these opportunities and piss them away. Some people can't recognize luck if it ran them over with an 18 wheeler. I have heard many people decline me for a job at where I work. I would have handed their resume in person for them and guarantee them a job but trades are "hard and too much work".
Trade wages have gone up a lot still not enough for economy but I would rather fix roofs for 36 an hour or do plumbing for 44 than work at McDonald's for 17 any day.
@@ipodtouchiscoollol Is a combination of many factors, from family to people you meet to your own efforts both in working and doing things to socializing and being smart etc etc.
Sure you need luck as well but there are so many factors that if you can achieve some of them then you improve your chances by a lot.
For example i know for a fact that one major reason am not closer to someone like Linus in success is because i never managed to find a supporting person in my life and instead the people in my life made it harder for me to work on the things i wanted to work and fight to achieve.
When i saw how young Linus had computers parts all over the house of his father in laws and how his wife and then girlfriend and her parents supported him in his silly geeky computer stuff instead of not tolerating seeing his computer things around their house and telling him to stop being annoying and go find some better job etc and not letting him do what he was trying to do then i understood why he managed to be where he is and why i wasn't.
I never had such support in my life.
Maybe he was lucky as well. He probably was but that support was his biggest luck instead of his business luck.
Huge amounts of immigration from countries like India into Canada in recent years has also contributed to the cost of living crisis.
No it hasn't. That's the same corporate anti-labor propaganda we get in the US. The "cost of living crises" is caused by trickle-down economics and oligarchic control and neoliberalism.
Not just a contributor, it's a HUGE contributor
@@therocinante3443 Well, that's what the propaganda designed by the corporate oligarchs want you to think. That is so you blame the immigrants for your lousy quality of life rather than the oligarchs who are actually responsible for it. You've been bamboozled.
Canada isn't a country anymore get out dude.
Linus situation with his kids is so relatable. In my community, so many 'rich' kids of immigrants who started with nothing.
We have the same issues in Australia. I have only just been able to buy a house on a single income in my 40s and it brings me to tears just thinking about how unfair it is for everyone who is not a boomer or early gen x.
sigh... i am happy for youu as a gen x that's all i ever wanted my own place seem like a dream really 😭
@@kaio0777 just to emphasize the generational difference, my brother is 6 years older than me. He is a multimillionaire and owns 5 houses. He does earn a bit more than me but that’s not the issue. He was able to buy his first house in 1998 before all the craziness started. I was still at school.
All I can say is keep trying and don’t give up. I feel for all the people who are getting screwed. Sometimes I think it was just luck that I managed even this modest house. 😭
Thats what happens when all your political parties represent the rich.
"you will own nothing and you will be happy"
Yes. Now shut up and take your soma, delta
Seeing poor people in their natural habitat…. that is the richest phrase I ever herd.
That was the point right?
It was, just didn't expect to hear that phrase.@@mariusdereus123
Also know as a poverty safari.
That is just taking one sentence he said out of the whole video trying to make him look bad, when he clearly grew up middle class, sees most topics with middle class interest at heart, and wants his children to be as down to earth as he was growing up
Saying like it was as if he meant it in an insulting way, is just picking something out to shit on him, its plainly plainly false.
Oh he didn't mean it in a bad way obviously. It kinda proves his point because any thing he does to show to not be privilege has a privilege context to it. Wish him the best trying to raise kids with that context. I have a similar issue but from inner city poor grown up versus being upper middle class. They don't have everything but have more then my literally nothing growing up.@@dracula7779
Dude hit him with "I don't" so fast that it hurt me.
I'm a 'xennial', and got screwed so many times. Graduated college with a tech degree just after the 9/11 tech industry collapse, where people with many years of experience were taking up the entry level jobs just to make ends meet, so new grads had no chance. And by time things started revving back up years later, my degree was worthless because tech had changed so much (i graduated from a time when we were using Windows NT, and my school was already out of date expecting us to get our 'hands on building experience' on ancient PCs that barely ran win3.1). So i was stuck doing junk jobs, like movie theater, best buy, blockbuster, and needless to say my wages were stagnant. Started getting things back on track more right as the mortgage crisis hit (i had just gotten a job at a bank, right as they fired their whole mortgage department because the subprime lending crisis really hit us hard) so i was working mailroom there until the bank was shut down (during the time when FDIC was shutting down like 2-3 banks a week). Got laid off. Next job, worked a few years, stagnant wages, laid off. Next job, worked a few years, wages grew only because min wage rapid increases, so i ended up with less purchasing power (i started $2/hr over min wage, after 5 years i was like $0.15 over min wage, because min wage increased much faster than my raises)...and got laid off. So it's not just the kids who started out in the 2008 downturn that got hosed, some of us got hosed in 2001/2002, then again in 2008, and never had a chance to get out. I wonder if Europe had similar issues or if their systems made the impact on the general population a lot less drastic compared to US/Canada's "tough luck, you will never own a home kid. The life of your parents is forever gone"
As someone who's always desperately regretted not being able to take more after school activities, I wouldn't sacrifice them. The social development is critically important to developing life skills and connections. Indeed, your ethos of including the kids in more down to earth social gatherings is great. Keep them grounded by being a part of the community.
If i wanted to be in a better financial situation i simply would have been born a couple decades earlier, honestly skill issue.
Im living paycheck to paycheck working for an ISP. I work through the blizzards and the heatwaves, climb poles, go into filthy houses, deal with customers, and deal with their sometimes very unfriendly pets all for 17.32 usd an hour.
My boss always says if i wanna make more i just need to take more classes, but the company doesn't pay for them up front you get reimbursed when you pass and as someone who routinely rides the line of running out, i cant afford the pay being docked if i can't do this class within a single pay period. What annoys me even more than that though is the old heads, the dudes who got here earlier are a level higher than me without ever having to take additional classes, they've been grandfathered in on some of them and only need one to advance from tier 3 to tier 4, I'd need 5 out of work classes and 6 in house classes to make that position. Im the sole technician for 4 small towns, got praised for my work lowering overall service call volume and received a 4% raise at my last review for my trouble. Im a lucky in that my landlord hasn't renewed the lease and raised the rent in 6 years, because if he had I'd be totally screwed.
The wealth distribution is supposed to be a bell curve. Very few making bajillions, very few making nothing, most people living an average life. It seems like people are trying to artificially destroy the middle of that curve and create a class split; "either you're in poverty, or you're mega-wealthy."
The future is dystopian.
Worse Satanic. Ever noticed that corporations use occult imagery and terms.
I got damn love you. It is so easy to become detached from reality when you live inside a bubble that changes peoples world view for the worse.
I wish more rich people thought like you and was able to just live for a short period of time as either a middle or low income household just in order for them to actually understand how society actually looks like for the average person.
Instead what we are seeing more and more is gated communities that makes it extremely easy for people to live in their own bubble and becoming detached from from reality.
We see time and time again that even rich folk who do the nonprofit thing or travel for a couple months are still out of touch and tone deaf. If the kids are gonna learn then you have to teach them that they're wealthy, not deluded "oh we're middle class/comfortable" and what that means. And cosplaying as poor for a year isn't going to stick because it won't hit them where it could actually hurt
I live in South Africa and it already looks like that here. The rich and out of touch living in gated communities with their own shops, security force and electric fences, while the majority of the country lives in poverty. The rest of the world is on its way there.
@@kobuseksteen411 Its less so here in sweden and in general in europe. The reason is because the government here does not allow for gated communities here and people can really move around everywhere because it is extremely safe in comparison.
We got a lot more balance here in comparison to the majority of the world. I want more rich people to start thinking about dangers of getting detached from reality since that would give a positive change.
If they get some experience with living a middle or low income life it can change their perspective rather then them living only in gated communities. I think 1 year experience like linus said is the minimum amount of time people should live like that. More is always better but 1 year is a long enough time period of time for those memories to stick.
Depends on what happens though I think we in western europe will be pretty safe can not say the same for the rest of the world. Social democracy is extremely ingrained in our culture so it is a lot harder to get rid of it. Our politicians have tried extremely hard to get rid of our social democracy but has failed a lot of times. Now there is even a resurgence in social democratic policies, even our extreme right-wing people like the italian prime minister and our sweden democrats are for those types of policies. One of the main reason they got voted in to power.
We are lucky that we have had 50 years of social democratic rule that has been extremely successful in western europe(with western europe I am talking about the nations that did not get occupied by the soviets).
Tbh, having multiple houses that you go to at different points of the year in itself is kinda a rich people thing
to me having a house at all is a rich people thing.
Depends on the house...
Always good to hear those who realise the luck involved. It takes hard work, but there's luck also. I am doing well but for the longest time doing hard work and not getting anywhere, I got Lucky with my job and doing well. Hard work can only work if the opportunity is there.
Luck is the biggest factor. Unless you are already seriously rich. Success is 90% luck. There has been plenty of studies on the subject. Successful people will never admit it though. Survivor bias. "I worked hard so I made it",while 99% of people working hard will fail.
You made your luck by being out there and keeping at it.
Really good conversation! Regardless of what background people are from, everyones just trying to figure out the best way to raise their children. Don't let the envious people get to your head. You worked super hard to build the company you have and now you get to enjoy the fruits of that labor. The fact is that you worked harder than most and as a result you acquired more wealth than most. BIG props to you for also understanding that your children won't be able to conceptualize how hard you had to work to put them in the amazing position their in. So now youre trying to make sure they are raised with somewhat of a grasp on most peoples reality. I think that is commendable.
Living below your real means is not the same as living in a situation where you have to choose between food and gas if you miss one day of work, because you still have access to all your money if you really needed it. It's not even close to being the same.
I was renovating an old apartment(grandma lived there) that my family owned just before COVID hit.
I feel so lucky that I bought most of my building materials/insulation/underfloor heating/new central heating system/windows and custom made kitchen before that. Did most of the jobs on my own with my dad for 2 years. Moved into it in my 2020. Under the line I spent around 70k. Going down the same road today would be financial suicide. Had to get a custom closet done from the same guy that did my kitchen ... 3 times less work 5 times less and cheaper materials and it still cost me almost as much as the kitchen(without the utilities just the woodwork and counter) in 2020.
The way my parents prevented by brother and I to be spoiled is to never allow us to get something if we begged them, cried for it at the store, etc. So we just learned that doing stuff like that doesn't lead to you getting what you want. Though we weren't necessarily rich, so that helped too I guess.
Whatever you teach your kids as parents while they are kids is what they will be equipped in early adulthood (up until like age 24-28). If you don't teach them basics on how to survive, how to fix or build basic things, how to cook, how to handle emotions etc they will have an incrementally harder job. Yes internet is full of videos and advice, but when your guide starts off with "drill 4 adjacent holes in x thick plywood" and you don't have a drill nor have ever used one, no basic tools, even that will look like the most complex task in the world. Especially if that drill goes into a water pipe.
Seeing Linus reprimad his chat always brings joy to my face
Here we are letting 10 of MILLIONS of people into this country to compete for housing and resources. What are the policy makers and politicians thinking?
Ive come to the realization (at 25) that I will never be able to purchase a house, at least not pay it off.
Ive been SERIOUSLY considering moving somewhere cheaper. But that comes with its own host of problems..
Better then here. Pick up Dantes inferno to read on the plane.
It’s worth considering. You are young enough to manage it.
Things I wanted money for as a kid: going to the pizza place, movies, dating, a cd-writer to copy my friend's cds.
That's funny because I had no money when I was a teen, not even for dating.
I'm gen x. I'm taking care of my grandma, my mom and step dad. I got one kid doing OK. He went to trade school. But my daughter hits me up for cash and groceries regularly. I'm working 64-72 hours a week and I'm falling apart. I don't think I'll make retirement age. I got nothing saved anyways. I can't comprehend any sort of future for me.
Seems to me that prioritizing finding a spouse earlier needs to be higher on the list like it used to be back in the day, versus finishing university and getting established first.
lmfao. good luck with that one.
exactly. a dual income household can make it in america right now. but taking a look at at dating statistics and it shuts down that idea entirely. we really are being screwed from every avenue as a Zoomer
I went from rich kid to a 24 yr old college dropout with 30k debt and 1 month from homeless making $10/hr. It took 5 years and a LOT of work ethic to find better jobs, pay off my debt, saving, and finally buying a house(not a good house) during covid. I'm now 33 working even harder with two jobs(7 days a week) to update my house and pay it off. I wish I had a partner to split the costs, but when can I find the time to find one when I work 8-12 hours everyday.
yeah and if you combine that the internships, you can see why young adults these days almost don't even bother with work like they used to. Like where the fuck is the fairness?????????
I would say keep extra curriculars but other than that your efforts to keep your kids grounded is a great idea.
I really feel the "not valuing money" thing.
I grew up with very little money, while my girlfriend grew up in a quite well off family. I got no allowance, very little birthday/holiday money etc which wan't the case for her. Don't get me wrong, she didn't just get everything she wanted, but she told me about this time she won a 50 euro gift card with a school thing and just totally forgot to collect it.
That absolutely blew my mind! 50 euros was *a lot* of money to be given for me before I started working. For her it was any major holiday.
This kind of stuff is why I decided to stay in Germany after my PhD. There are strict rent controls and protections. The government has apologized that houses have risen recently and has been working hard to get them back down. Housing prices have actually decreased here and are expected to go down for the next two years. It looks like I can actually afford to buy a place here and live a good life. In my view the American dream died and moved to Europe.
As a 17 year old about to get into college, I've been thinking about the American Dream changing into the European Dream (same principles, different name). Would it be beneficial for someone like me 5-6 years in the future to move into Germany (for example) rather than living in America? Just want to know what's it's like in Europe.
@@Rishi-nc1mn I never intended to stay in Germany originally. I came to get a Masters and PhD and ended up staying.
I have a nice job and I have more vacation time than my coworkers in the USA. I work less hours. I have a VASTLY more stable job. Rent can only go up about 3% every 3 years and there are LOTS of protections for renters. It looks like I can buy a nice place with what I make.
Honestly, I would get your bachelors degree in the USA and then apply to an English language Master's degree in Germany. You can look at universities like RWTH in Aachen. While you are in your Master's program work on learning German.
I love that I love somewhere walkable. I can walk to the grocery store in about 5 minutes. I can walk to the city center in about 10 minutes. I can catch a train and be in Paris in about 4 hours. I don't have a car and I see no reason to get one. I walk, use my bike and trains. I find that overall it is a much better life.
Moving to Germany too this year. Europe knows better in general
Price controls generally do not work, they lead to shortages. If it costs more to build than you get back on the sell price because of a price control on the rent but not on the land value, then you get less building not more. Econ 101. Maybe Germany was smart enough to cap land value too, I don't know, but I would not stay in Germany for long if I were you, this whole Russia-Ukraine thing is going to hurt Germany the most, you guys can look forward to 20 years of hard hard times because you really needed that gas for your massive petrochemical industry and other heavy industries, and that's all being replaced with way way more expensive LNG now.
I live there. What is the government doing to get housing prices back down?
I make a comfortable six figure. In Southern California, I barely can barely afford living where I do, in the hood.
It already has changed unfortunately. Prices across Alberta (mostly Calgary but Edmonton as well) have significantly surged due to the mass wave of Canadians moving here from BC and Toronto. I'm a few years out of an engineering degree with no debt and still struggling to find affordable housing in my area with a DINK household. I can't even imagine Vancouver/Toronto levels of cost of living.
It’s gotten nuts. My wife and I bought 3 years ago. Now only Ontario and BC money can afford to buy here.
A big part of Canada's housing problem is the fact that they allow so many international investors to buy up the houses.....
There is no shortage of anything but a surplus of greed. Unless the people but cap on greed, we will continue marching to dystopia.
Im an ex-mormon, I would 100% join an LTT cult and spread the word of our sponsors
You've got the training already! lol
You handle the proselyting i’ll handle the service.
I did a service mission, in idaho on a farm.
Regarding laughing at the dropped laptop, some people just react that way to misfortune or hardship. It doesn't necessarily have anything to do with privilege. When bad things happen in life you can choose to either laugh or cry. Same reason why some people try to inject humor into sad or dark situations, it's a way to introduce levity.
Some good thinking, thanks for sharing!
This is such a universal prblem too, here in Belgium I graduated 2.5 years ago, and there are houses I looked at thinking "yea I can afford that in a few years" and when I look at equivalents now it's sad to think I can't realistically afford them anymore.
The one year seems like a good idea so by the time you come back to your house they'll really appreciate more what they have
Or it'll make linus's kids more manipulative towards him and yvonne so that they can secure their financial future. I think it's a dangerous choice.
I don't. The kids will always know that they are doing it by choice and that at the end of the year it will end. Not saying his kids aren't grateful, they very well me, but I personally don't think that specific exercise would work work as well as people assume. Kids aren't dumb.
If his kids are spoiled (again, they may not be brats about it), it could just be a year of "Can't wait until this year is over!" Yeah, they will experience what it is like but they'll never truly understand what it is like to be in that position.
I love when well off people treat renters like money bags to squeeze.
"You can live in my house for a year." Yeah and then what? "I don't know, fuck off."
I grew up wealthy too, how my parents instilled value for money was that i could get anything i wanted i just need to work for it. Want an xbox? Mow the lawn for a theoretical $25 that goes on a board until you have enough and thell buy it. Mowed the lawn already? Do the dishes for $10 vacuum for $15.. I learned if i wanted something i need to work for it and if i want it faster i need to work more
Canada, like New Zealand, is in the middle of a massive property bubble. When it pops it's going to be spectacular.
As someone who got into the workforce almost 2 years ago at 19, I am already awaiting for my first raise. Life is freaking expensive man.
Great point at the end - kids are exposed to ads everywhere now. I wasn't (except for TV ads I didn't care about). Advertising makes kids "need" things. For me growing up, if I got something new, it was magical and totally unexpected. Like the Nintendo Wii suddenly being a thing. Magical.
If your in your 20’s or soon will be I highly recommend getting into industrial related jobs. Even if it’s working on the ground floor with no experience. I currently am a contractor at a paper mill and the lowest paid people here are making $25 an hour with many starting around $30. There is high job opertunity and growth as well. It’s given me a light at the end of the tunnel in these times.
Yup, i work in the CNC Metal machining department and everyone here is earning good money, way more then even nurses who work in shifts in hospitals , and we almost can't find skilled CNC operators (one piece jobs, so alot of programming/set ups).
We had one good guy in the last 3 years, sometimes it feels like i'm the last of my kind and i'm only 30.
And in the next 10 year alot are retiring so hard times coming up replacing them.
@Shockz_BE Family run machine shop here lol im only 18 and been doing it since I was 10 but man it is crazy and hardly anybody knows what you are even talking about when you say hey I'm a CNC machinist, finding gaps in the market is so tough and I am so fortunate to have been built into one, so many friends just in limbo and being thrown down the path of least resistance not really seeing any way out going to military when they wanted to do college, stuck in dead end jobs or worse they make it to college and realize it is a passionless and practically worthless waste of money now 90% of the time. it is tough... Industry is forever though and making stuff is the most enjoyment I get from life. Much love from a newbie
@@Shockz_BE I laugh. Not because of the lack of people or talent drain in that field but because I'm one that left. You can't find anybody because you won't find anybody "skilled" for those pathetic wages. I would know because they're me. I was that skilled person. They all slowly left.
The majority now work in software or if they REALLY liked it hustled their way to owning their own workshop and are now running into the same issue. It's hard out there for sure. I had acquaintances reach out in 2016 about it because they knew I could do it and I laughed because I would be taking a 60% paycut for what they were offering.
Hold on. Listen to Jager. For example, nobody talks about programming or troubleshooting industrial PLCs. It never comes up compared to "real" languages like C++ or Python or whatever, which is insane. They're fairly powerful 32 bit systems like a PSP or 3DS in terms of compute power and networking. Nobody in a factory knows wtf they are doing or are retiring GenX jerks that don't want to educate others.
Where I live there are no industrial related jobs lol, the only industry is farming, nothing else.
Cool discussion. Love when they start talking so openly like this. :D
I live in America and have never seen so many homeless people in my life. What once would get you a really nice two bedroom apartment, now can't even rent you a terrible studio on a bad side of town.
Linus, theres nothing worse than a rich kid pretending to know what being poor is. You just need to accept that your kids will be different to you and will not know the struggle you had to go through. At least they will have a comfy life.
As someone who grew up poor (never feared losing housing/food but we were/are? poor) I think it really comes down to awareness and exposure. I grew up and now live(rent with my parents) in a fairly wealthy area. I had friends with $200 in their wallets any given day starting in middle school while I got $100/year for CNY and spread that spending out over months. My friends were humble about their wealth and spread it, I saw others in their situation just blowing money like it was nothing...cause it wasn't their money and they didn't see the effort behind every dollar.
I'm doing well enough now to the point where my friends and I had a $100/person dinner without having to explicitly budget it in. That low income mentality never really leaves though and I get anxious spending money sometimes.
I so very much agree with this. I’ve always tried to instill in my son, who is 12, that there are others that are way better off than us, and there others that look to the things and the lifestyle we have as though we are the elite with our homemade servers out of old computers, older PCs set up for LAN games like the original half-life in generally having fairly nice things.
Realistically, we’re struggling middle class, but success in any measurable amount is always in the eye of the beholder. Always be kind. Appreciate what you have because there is always someone out there working hard and just can’t quite get there.
Without aspiration, a desire to want the difficult to reach, what’s left? What do we drive for in life? People need to have the fire inside, that drive to work for what they want.
Just had my rent shoot up again this year, what’s annoying is that I’ve been in this house for 5 years, in that time I could’ve paid down a good chunk of the principal and refied had I bought it myself. I saw what they bought the house for, but I can’t qualify for it as my dti is too high, EVEN THOUGH, I pay almost double in rent than what a mortgage payment would be…
I'm lucky my parents understand the situation and let me continue to live at home, but i'm terrified for the future, i have no idea where to even start.
I need people to understand how bad it is.
a house down the street, like not even a block, was put up for a starting price of $650,000.... The house was 732sqft...
Our apartment is 760sqft....
That house sold for 1.3 million. This is Ontario.
a crack den in the gta is 1 million minimum.
sounds like money laundering
I can't wait to finish my masters, "try" to find a job, and "try" to find a place to live lol.
I got super lucky going from homeless in 2010 to in 2023 finding a house in rural Ohio with a WFH job that I also got lucky in getting into early, and I worked really hard to get where I am, and I worry that I have to maintain my luck, hard work, and good fortune or risk having everything go down the toilet...
Yeah, he wouldn't buy another house, he would just take another house off the renting market at whatever exorbitant price is being charged reducing supply and driving up rent elsewhere.
ive seen households have "fees" for doing certain stuff, what money they pay for those goes into a savings accounts for them in the future so you arent charging them to just enjoy their hobbies, they get paid by doing things that either help the household or as plain as "play the piano for 1 hour"
I bought my house in Michigan USA in late 2020 and now it has nearly doubled in value.
It's honestly time in the United States and Canada to protest in the streets to encourage the government's to make the ability to build new housing more accessible. #buildhousing