Housing price Crash

[SASKFARMER3]

Sad part this time it's going to hit a new group of young starting out workers who wanted the brand new big home with everything.

How you ask.

Lots of newlyweds got their parents to second mortgage their own homes because they were paid off so junior and sis could buy their first homes. Ah, isn't that nice go right for the million dollar home not work like everyone else and save and upgrade till you finally have a nice paid off home.

A 30-year mortgage for junior or higher and mom and dad pay from retirement to help out.

Borrowed money.

Biggest problem cheap money, overpriced homes (really a shit hole home in Regina average 400000 that buys one heck of a home in Phoenix or Florida) and the want it all right now attitude. Jet skis boats cars antique cars hot tubs cottages etc.

ME ME NOW GENERATION>

[GDR]

Sad part this time it's going to hit a new group of young starting out workers who wanted the brand new big home with everything.

How you ask.

Lots of newlyweds got their parents to second mortgage their own homes because they were paid off so junior and sis could buy their first homes. Ah, isn't that nice go right for the million dollar home not work like everyone else and save and upgrade till you finally have a nice paid off home.

A 30-year mortgage for junior or higher and mom and dad pay from retirement to help out.

Borrowed money.

Biggest problem cheap money, overpriced homes (really a shit hole home in Regina average 400000 that buys one heck of a home in Phoenix or Florida) and the want it all right now attitude. Jet skis boats cars antique cars hot tubs cottages etc.

ME ME NOW GENERATION>

Probably right about parents mortgaging or co-signing on overpriced homes. Every generation of parents wants a better life for their children than they had. Problem is sometimes life lessons are more valuable than property or possessions, it's just hard to see that sometimes. This is also the generation where junior never leaves home or does and then comes back to keep the basement warm. Lots of our kids friends are being raised by their grandparents, parents still involved some live on their own some dont but most of the heavy lifting parenting done by older generation. I think there are a lot of people who are having a digferent retirement than they thought they would.

[SASKFARMER3]

Yea I agree lots raised their kids to want and get everything, all get participation badges and none really understand finance etc.

hell, they eat tide pods and put condoms up their nose for fun.

We just smoked and drank beer and didn't wear seat belts and had fun.


But we all had a goal to move out get a job or go to school and get a carrier and move on. Visit our parents and enjoy.

No new home new leased car boat jet ski hot tub etc all with borrowed debt. I'm not kidding when I say most would be done with a 3% interest rate. Parents would have kids moving home and whole families living in the original home. Some parents would lose their home also.

It's a game where home prices got out of hand.

[GDR]

Real life Monopoly!

[hobbyfrmr]

Probably right about parents mortgaging or co-signing on overpriced homes. Every generation of parents wants a better life for their children than they had. Problem is sometimes life lessons are more valuable than property or possessions, it's just hard to see that sometimes. This is also the generation where junior never leaves home or does and then comes back to keep the basement warm. Lots of our kids friends are being raised by their grandparents, parents still involved some live on their own some dont but most of the heavy lifting parenting done by older generation. I think there are a lot of people who are having a digferent retirement than they thought they would.

Its getting so weird. When did everybody lose the desire to work so they could advance themselves over time?
My farm helper farmed 5 quarters, raised hogs and fed 60 cows most of his life. His wife had the 1 acre garden. About a decade ago they sold the farm and retired. He works for me and she sells garden produce for walking around money. They used to take 1 or 2 winter trips on steep discounts.
Now they have a grandson living there because the parents just could not deal with him. The story went that they would help him get his grade 12. They get him work with local companies but he always quits because someone is too mean to him or he doesnt like the hours/shifts/conditions. Now they have a 20 year old housecat. They got him a little car, he gets his 3 squares, tv, cellphone, a floor over his head and he is house trained. No costs no bills no accountability.
My helper starts conversations about methods to motivate the kid, he is totally capable, no obvious handicaps, hes just one of those “really smart but easily offended” types. I dont know what to tell him other than he is not a kid, he is a grown man, old enough to drink and old enough to vote. He s not doing anybody any good hiding in the grandparents basement.

The “me, now” generation may very well have to experience some economic discomfort. Its a mean world, life is hard with a lot of uninteresting times because of committments.
An old neighbor would tie together a couple of sayings that I liked.
“Work hard, sleep good.” “I would rather be tired than broke.”

Just the other day I met a 82 year old guy helping his son farm. His theory was “work never killed a person, did you ever notice cigarettes and booze are what kills people? Thats what people do when they’re not working.”
I decided not to argue with an old guy. He may be right, or else he will just shoot me.

[farmaholic]

Very good post hobby....

..."a floor over his head".

You, are priceless!


Edit: a redo

The metaphoric irony is the floor is a ceiling he himself has placed over his potential(head).

[hobbyfrmr]

Very good post hobby....

..."a floor over his head".

You, are priceless!


Edit: a redo

The metaphoric irony is the floor is a ceiling he himself has placed over his potential(head).

Thank you. I am glad you caught that.
Truth is stranger than fiction.

[Guest]

you guys are deep, lol!
unfortunately most of us are all a little guilty of wanting a better life for our kids
I never got any help from anyone , ever . it was a tough road and pretty scary at times . kids turned out good and am thankful for that ! sure don't want them to have it as hard . but they need that , I guess ?
grandkids seem to be on the right track also

[foragefarmer]

So many middle age men broad-stroking negatively about young people and urban dwellers. Busy pointing fingers while sitting on the farm that was started by generation before you. I don't need to name names but many of you have mentioned it yourselves.

I personally know many young people making very good decisions regarding purchasing first time homes and farm land within their means without the help of parents.

If a stranger were to come on Agriville they would come to the conclusion that posters on here are the only ones who know how to run personal finances.

[SASKFARMER3]

F#$K Forage you're so full of shit it's not even funny.

BLAH BLAH BLAH yep it was all our great grandfathers did.

BLAH BLAH BLAH.

REality is most in cities want to start out at the top, not starter homes fix and flip and work their way up.

No its right to the top.

Hell, I live in a neighbourhood that has this close to us. New homes going to beginning couples.

Some are on track but usually its i want to be like the neighbours.

Similar to farmers they always think the guy who has big bins and new equipment and all the toys is the number one guy in an area.

[farmaholic]

Some people started with nothing and some took over an existing farm and either maintained it, grew it or lost it.

Many different outcomes.

I will refer back to hobbies opening line;

"Its getting so weird. When did everybody lose the desire to work so they could advance themselves over time? "

And no, it's not all of them.

[SASKFARMER3]

No every one of the new owner's arent trying to keep up with the jones but the funny part is a lot want it all and have no clue except cheap interest rates and time.

When your 26 its easy to take a 35-year mortgage on the castle. But later in life that changes as your years go by fast.

Hell, I have maybe 30 to 45 years left if I do have the gene. If not it's over in a few years.

If we knew the date time and place it would be so easy. But we don't. Maybe that's a good thing.

I just see a home in Regina Calgary Vancouver or Toronto and compare that to a home in Kansas City Phoenix Miami or even Minot and we are out of touch lunch or whatever other word you want to use.

that's a fact Jack.

[Guest]

Some people started with nothing and some took over an existing farm and either maintained it, grew it or lost it.

Many different outcomes.

I will refer back to hobbies opening line;

"Its getting so weird. When did everybody lose the desire to work so they could advance themselves over time? "

And no, it's not all of them.

it's real simple ; someone posted it on here a while ago .
hard times make strong men
strong men make good times
good times make weak men
weak men make hard times


we are at the third cycle , this has been repeated over and over since the beginning of time

[Klause]

Funny story.


I ended up back working - HDD drilling - putting in pipes conduit water lines whatever.


Small but very respected company from Edmonton.


Got the job through a buddy I worked with a long time ago.


Started as a roughneck... 3 weeks later drilling /crew boss.


Mind you... I've been in the patch for 7ish years before...

Two guys I work with just hate my guts. They've been there almost a year still ruffnecking and will be for a long time. No common sense. No work ethic and either an unwillingness or no capacity to learn... Both 20-21.

Can't change a hydraulic hose. Can't figure out how to mix mud after being shown a dozen times. They'll throw pails and bags out of the mix van and then trip over them all day till you tell them to move the garbage.

No thinking ahead or being ready for the next step in advance.


I just don't get it.


Yet they are ticked a guy with a background, mechanical ability, work ethic, and a class 1 gets promoted ahead of them... "It's not fair".


Then you have students at Edwards school of business going it's ok for a company to loose money every year as long as it isn't too much.


Wtf.

I agree. Good times bred weak men. And they are going to make hard times shortly.

[sumdumguy]

Klause, there aren’t very many cut from the same cloth that you came from. Wish you the best, for sure!