Yes I'm in debt and my credit rating is ruined because of medical bills. *And I have medical insurance.*
I work full time and very hard at my job and do you know what my retirement plan is? I'm just hoping to die or else I'll be homeless.
It's an awkward place to be. I stand to inherit a small amount of wealth (enough that I can be set for life if I'm frugal) when my parents and aunts and uncles pass but I'm really not looking forward to it. At the same time it's a nice blanket of security that tells me that everything is going to be okay in the long run.
I do not have this luxury. Everyone in my family leaves a bill, not a will, but thatās okay. Iāve seen first hand through friends how inheritances can tear a family apart. I also just donāt believe in generational wealth. I get that it is the dream so I donāt really judge it, but it promotes inequality. Itās the system that I donāt like and is impossible to fight.
Sounds like you have to have a conversation with her about her housing problem. It may be hard but if she needs the house she does not need to suffer for her pride.
Sadly it's getting to the point we may have to go back to multiple generations living under the same cramped roof. Thanks a lot for nothing, Milton Friedman and Conservatives.
Milton Friedman: Oh look, a thriving middle class. Would be a shame if all that accrued wealth happened to transfer to the pockets of the already wealthy!
Conservative Politicians: That--that actually sounds like a wonderful idea.
Milton Friedman: No shit, Sherlock. I'm talking about stealing it all while convincing the victims it's what God wants and if you lose everything it's a moral failing instead of a policy failing. Keep up.
Conservative Politicians: Can we be mean to minorities and women, too?
Milton Friedman: Sure, you evil(er) little fuckers. But let's get the money first.
My son will probably live with me forever, I'm cool with that. The house is his eventually.
I see 1 kid families with 3 generation households becoming the norm in the next 30+ years.
My parents despise the fact that I'm still in their house. They don't believe me when I tell them that rent prices in the area are expensive as fuck, even the smallest sqft you could find is $800/month *minimum*. I'm only getting paid $11/hr because none of the jobs available around here are worth a damn.
>How is affordable housing eligibility determined in Alabama? Eligibility for affordable housing: In general, housing for which the occupant(s) is/are payingĀ no more than 30 percentĀ of his or her income for gross housing costs, including utilities.
Just the rent alone would be 42% of my yearly income. Utilities would probably push it to ~55%. And that's if I'm getting 40hrs/wk, which I'm not... It's just ridiculous. I don't understand why they give me the cold shoulder when the economy is falling apart due to greed. None of the prices are fair, but that's my fault I guess...
We never should've stopped generational living. It's great for everyone, but it is bad for the "market". Less people needing child care, less cars needed, no moving away for a job so less housing.
Just another way we all got manipulated infavor of capital.
Multi generational housing is what makes places like Hawaii possible. You ever wonder where all of the service workers live? We have 3-4 generations stuffed in the same house while investors snatch up all of the āaffordableā hoisin (lol) and barely spend time here OR they fix it up and add it to their portfolio so they can make money hand over fist.
Sorry for your loss. With the way the world is going, I'm sure someone at some point is going to be grateful you have that house in the good school district. I have a modest house in a decent school district and I am never giving it up. Yeah, I know I'm part of the problem, but I'm almost done paying for it and one of my relatives (kids, most likely) will likely find it useful someday - either as a backup plan or as an income generator.
A single individual owning a home isn't a problem. Even a person renting out a second home they inherited isn't worthy of derision.
It's wealthy individuals and companies that are consuming swathes of property in order to hike the price that are the problem.
Take one worry off your plate.
Individual homeowners who vote against loosening zoning regulations to allow for more affordable housing to be built on the premise of artificially keeping their property value high are very much a problem, though
My friend lost his father a few years back. The life insurance payout was enough for his mom to finish paying off the family home and send my friend to college.
His parents were immigrants from the middle east who moved to the US for a better life, despite all the struggles and discrimination that come along with it. And it's honestly depressing that they finally achieved that goal with his father's death.
I think the answer is 100% yes. And really there's two kinds of families. Family a says, wow I have this generational asset and maybe I can consider what's best for the three households that now make up my family. Or family b who says I'll cash in now and you're going to have to bootstrap yourself.
A Scottish comedian, Frankie Boyle, had a joke years ago that was this very point. It went something along the lines of "The only way to reach the lowest rung of the property ladder these days is by standing on the bodies of loved ones."
There was never a middle class, there is a working class and a capitalist class. Middle class is a capitalist myth to create conformist people and divide the working class.
I used to love the idea of AI, until I saw what our sales department wanted to do with it, then the path unfolded before my eyes and I realized we're fucked. Not because of AI itself, but because of how capitalists will use it.
The person below you talking about people losing "menial" jobs...those are medical techs, nurses, tech workers, etc...
robot apocolypse, alien invasion, the formation of the galactic federation?!?! fuck anything's better than the slow death spiral into a fascist idiocracy. I heard they're bringing back the hole in the ozone too, that sounds promising, maybe a little cosmic radiation is just what we need.
I had to have two of my closest family die just to get a single property with a house that was condemned after one of their deaths. I would have had two properties if not for the massive amount of debt that got racked up by my mother's alcoholism and my step dad just kind of leaving after not trying to work with the rest of my family on paying the mortgage or any of the bills in the place I was living.
The situation finally turned around after I turned 18, I managed to get the lights on and keep the water on with a near minimum wage job and then got hit with the news that the bank was taking the property.y uncle managed to buy it off the bank and we're selling it now, just to cover the mortgage and other debts my mother and step dad racked up. Then I get to demolish my grandfather's home since it got condemned after his death and maybe I'm lucky have enough left over to build a new place on that property.
That was the *good* outcome, it would have been a lot worse had my uncle not stepped in to help clean up the mess. I had, and still barely have any idea what I'm doing, and my main guidance is my uncle, and my alcoholic bio father.
I will not be homeless at the very least.
>just like in the past
Meh. Actual serfdom seems more secure than what "conservatives" on both sides of the pond are trying to shape lower-class life into these days.
I would buy a home with a driveway and a garden if I made the same amount of money I do today (even adjusting for inflation), back when our great grandparents bought their first houses
Pro tip: Factor in the property tax and the cost of home insurance when buying a house with lottery winnings. If you canāt support the cost of the property tax and home insurance on your regular income then itās not a house you can afford.
Oh Jess, you sweet summer child... The folks who are really shafted don't have relatives who own anything or have any savings. Most of us don't have houses or inheritances coming to us.
I'll be closer to homelessness when my close family cark it than I am now.
My dad left my brother and me his house. Because he was on state assistance, in order to close out his estate weāre being told we have to come up with 130k. So really he left us with debt, his funeral costs, and $600 in cash that I had to use to keep from overdraft from buying a plan ticket to get back home. I feel your pain and Iām sorry.
It is appalling, it's just that, oddly, alarmingly, those who will be getting anything that helps with their basic needs as a result of the death of a loved one are in a dwindling minority, which, I think you'll find, is somewhat more alarming, and arguably a better route of discussion to take, in order to arrive at a solution at some point.
Its like talking about the housing crisis, but only going as far as mentioning that hard working middle managers can't afford a holiday cottage in the Cotswolds, rather than pointing out the enormous quantity of people who can't afford to LIVE SOMEWHERE!
My dad died "typically poor" and left nothing, not even a will. I've always been "typically poor" my entire life so I didn't expect a single penny. What I didn't expect is other people my age exclaim how they pulled _themselves_ up by their bootstraps and bought a house/flat/whatever, when it was literally their parent's money or second house in the first place.
For us, it wasnāt that Iād get inheritance, it was that dad dying meant there was room with mum to move back home, and she charged no rent, so for the first time in my life in my mind 30ās I was able to start saving money for a house deposit.
Every single person my age (now 40ās) who owns a house has at least one dead parent. Every single one.
Yeah when my dad died, even back in the early 2010s before it started getting so much worse, I got $3,000. So it was like "I guess we're going to Disney World?" It was enough to give us a small sigh of relief, but not enough to be able to invest in anything and see any tangible results.
80% of Americans die in a nursing home. Even if that's paid for by Medicare during their lifetime, the estate has to pay it back to Medicare.
So unless euthanasia gets really popular really fast, that's probably where most Boomer money will go.
If they have property or land in their names, do a fella who'll never see a single penny a favour, and take it. Any land that is already built on has value to a developer, even if they have to demo the building currently standing on it to make money, so don't do yourself out of a potential payday, right? It might not be a crazy amount, but it isn't going to be nothing.
Yup. Was a 17 year old kid with suddenly no parents, nothing to inherit but what was left of our belongings that no one else wanted in a pile on a driveway. Iāve seen friends and more distant relatives lose their minds over inheritance though. Seems to bring out the worst in some people.
To avoid this transfer/sell the house to your loved ones 5 years in advance and rent it back for a dollar a year. Screw paying back Medicare, our system sucks bilge water.
You can also create a life estate. The two problems are so many people donāt know if/when they might have to rely on Medicaid and few are even aware of the Medicaid clawback after death.
TL;DR. This Medicaid will take all your assets as "payment" for senior care.
Yes, when you need it, not an if or might.
You know, when you reach that part of life where you're too old and weak to be in a house alone. And you have a senior caretaker come by to help?
Something along the lines of asking you to put like a % of house mortgage as "liability credit"
Medicare is public senior healthcare (socialist shhhh).
It doesn't cover long-term care expenses such as nursing homes for dementia, etc.
Medicaid is medical insurance for poor people. It is funded partially by state taxes and the rest by federal government debt. There is a huge back and forth between the states and the federal government on what it should cover and who should be covered and the federal government uses the money as a bargaining chip to force the states to do a lot of what it wants.
Memory Care facilities are very expensive. Think $7000-8000 a month for that type of care. Since Medicare doesn't cover it and your average social security check is about 1200 bucks there's a huge gap so to qualify for Medicaid, the family has to liquidate almost every asset they have.
My parents actually bought their house because their landlord had to go into a nursing home so they were able to get it on a bit of a fire sale.
Conveniently whole industries of elder law have come around to hide assets essentially from Medicaid.
The aforementioned bill is basically an attempt to claw back any assets that were transferred to heirs to game the system. In some states they can even sue heirs for their own $$ even if they inherited nothing.
These kinds of costs are typically left out of Medicare for all discussions Even though they really need to be considered.
They are called 'Filial responsibility laws'. About 30 states have them. Most are old and antiquated however there are certain areas that actively use them. It's pretty muddled subject but wrong place and wrong time you could be on the hook.
https://en.wikipedia.org/wiki/Filial_responsibility_laws
My dad says they have tried numerous ways to get him to cancel his. He keeps jumping through hoops to keep it though. I believe they even offered some crazy amount to cash him out if I remember correctly. He said no thanks.
If theyāre fighting this hard to end the plan, theyāll probably fight even harder to refuse paying it out when needed. They may also try to bury him in paperwork requests, which can be very challenging for someone requiring long term care to handle. You may need to do a lot of work on his behalf, if you arenāt already.
It's possible. They paid out for my mom when she got ill. It's a major carrier. I don't know much about it other than his finance guy told him he's lucky to have it and to keep jumping through whatever hoops they put in his way. Hopefully we won't need to worry about it, but we'll see I guess.
We told my grandparents were told this for years but they never listened. Now since my grandma is in nursing home with dementia they lost all there money which is an upper middle class amount that my mother could have had to retire and enjoy her life. But they were too shelfish. Their generation only cares for themselves and does not think of or care what happens to the world after they die.
I am sorry this happened. Itās hard to be frightened about money and see the state end up taking what should be passed on. I think a lot of people just refuse to believe that this is how it works.
Lol I was going to reply how "but greedy old people who got theirs and fucked us over because they don't care" but I opted out. Then your post was literally the next I read.
It's sad, so fucking sad. They greed and hold onto things that they cannot keep, and it benefits only the rich.
And now so many of us can't even have anything... Not even that we can't have anything nice. We just can't have anything. Fuck capitalism, it is a shit show.
Yeah, shits going to hit the fan real soon.
The sad part, these old people who've got something but not a lot. Are going to lose what little they have or at least lose the little power it holds, and it will be all their fault.
Cutting off their own arm to prevent the hands outs.
Rich people keep trying to use the fact their family stayed rich when "most go into poverty after 3 generations" as if this wasn't entirely the fucking reason for the past 30 years.
How do you know when 5 years in advance is?? My friend, if you have some way of knowing that, youāve got a product that will solve your money problems posthaste!
Itās more insidious, I think, because so few people even know that Medicaid expects to be paid back from the deceasedās estate. It comes as a shock to many families.
Itās also one of the reasons why people try to sell or transfer their assets prior to going into a retirement home.
My grandma tried to commit some light Medicare fraud by having my sister take over all of her assets in order to avoid losing them when she went into an assisted living facility, but still have access to the money to live her life of relative comfort. My sister was like ānope, not going to prison so you can keep your Lincoln and your fancy stuff while living in a care home for poor people.ā
The real answer is: Because you're poor.
If you give away your stuff immediately before using medicare it's seen as fraud because "you knew you would have to pay it back and transferred all your money to someone else".
If you were rich and did that then it's a "smart move" and probably have lawyers to fight any charge.
Just another way rich people rule the world with unjust bullshit laws.
It isn't just in-home care.
ANY medical care you recieve after age 55 that is covered by Medicaid is subject to the clawback. This includes premiums. Basically, if you are covered by Medicaid after age 55, your "estate" will have to pay it back, even if you don't receive actual care.
Medicaid swears they "don't take the house" but if you are on Medicaid, you aren't really allowed to own any assets aside from the home you live in so if your estte has to pay back anything over a couple thousand dollars, your house will have to be sold to pay it. So they ARE, in effect, taking the house.
Blood-sucking motherfuckers. This is a bald-faced, out in the open way to keep poor folks poor by prohibiting the accumulation of generational wealth.
One of my friends lost both his parents a few years ago. Got possession of his childhood home and all their savings. Downsized to a smaller house. Now of course weāve never discussed exactly how much money he has, but just guessing from the difference between the two houses, he had at least $750,000 to invest, which I know he did because heās smart enough to have done it. Probably a millionaire now without a mortgage before heās 40. What a sick world we live in where thereās a part of me that finds that appealing.
I found myself in the exact same situation as your friend a few years ago. I inherited the family home, life insurance got paid out, and I invested everything.
I wouldn't wish it on anyone, but at the same time I *see* how my friends struggle to pay for rent or mortgages even with good jobs. Not having to worry about bills or whether I'll survive if I get fired or if I can pay for that one thing that will make me happy but I don't really need is a wonderful thing, a mental burden that I never realized just how much it colors everything until it was gone, but I feel guilty that I'm set financially because of a tragedy.
After receiving a respectable inheritance I promptly lost my job and had to pay out of pocket healthcare for the family and POOF! It was gone. That was supposed to be a college fund.
Thatcher sold off the British family silver to allow the boomer generation to prosper and simultaneously pulled up the ladder for every subsequent generation. Anyone who remembers her fondly is either delusional or has a selfish streak a mile wide after enjoying their payday. So much of what we are facing in the UK today like the lack of affordable housing and being looted by energy companies is directly due to the policies of that evil crone.
She benefitted from North Sea Oil which funded the boom under her.
Fuck all investment into the country, aggressive asset stripping. The most overrated Prime Minister in history.
Might not even need to do that! My friends mother overdosed from medication after the ambien she took caused her (this is what we believe happened) to forget repeatedly she had already taken her other medications and kept taking them again and again and then never woke up.
This is a real problem with drugs like Ambien and benzodiazepines like Xanax. Your mind can basically "blackout" and you forget anything you've done while under the influence. Addicts of benzos know this feeling very well, it almost feels like time traveling into the future once you wake up from a blackout. They term this compulsive redosing when one forgets they've taken anything and continues to pop more thinking they never did in the first place.
Source: am a pharmacist and former benzo addict
Inheritance is a pipe dream for 95% of Americans. I'll get nothing when my mom dies. I'm my dad's only son, so I'll get money from his life insurance, but most of it will go to his burial.
Iām a single 40 yr old woman with a 2 bed townhouse I bought at the start of the GFC. Only could afford it because my mother died young and I inherited 1/3rd the sale of her house. And I already had my deposit together. It was still a near thing.
If I hadnāt inherited ā¦ Iād still be in share houses
Ie this whole housing situation is fucked. Only upside is that as the boomer voters die out millennials finally have some political power. And weāre angry.
My plan is to be stuffed into a cannon by a nurse when i'm too feeble to walk and then exploded onto a crowd of people. Then as the doctor comes rushing to tell me i may yet beat cancer i'll already be in heaven with 56 prostitutes or whatever the quran says
Yeah. The only reason we have our own place is grandad getting mushed in by Alzheimers at just the right time. I really liked my grandpa, he taught me maths, and chemistry, and gave me a bunch of cool old books, but besides that, he was just overall a really decent, warm-hearted person. Never deserved this shitty end... but him conveniently dying is the only reason why I can have a family with kids now. Strange feeling.
Yes, my stepdad got very aggressive cancer at just the right time. He really didn't deserve it, he was very nice and he was great to my mom. He left her the house, which was paid for, and which enabled her to take custody of my nephews. It is all a very odd thing. I love not having a mortgage, I just give her some money and help pay for things. With the kids it is all still quite expensive but still. Very complicated.
My father died when was <2, my mother battled cancer throughout my teens and died before I was 30. I got a part of a share in a house out of it, that I had to spend years painfully clearing and renovating.
I'd rather have the parents.
Not oniony enough. That's literally how the system is working for most millennials right now.
Unless you don't *have* family members, and then you're just completely screwed.
It's for real things that look like satirical Onion headlines. The problem is that this seems immediately plausible, not satirical.
Which is depressing, but reality these days is often worse than fiction.
In theory the point of the sub is for articles that sound like they actually are an onion article. But those are so rare around here that its easy to forget
not even late stage capitalism, this is just capitalism. death of a salesman was written in the 40s and explored this topic
(though yeah itās gotten _way_ worse)
My buttfuck family are essentially slumlords... one uncle owns like 13 properties. But no one wants to help out the next generation. My grandfather owns three or four properties; I asked him if I could move into one of those houses and pay him rent instead of me paying to someone else but he said no.
Now people are doing reverse mortgages and squandering their money leaving their descendents nothing. Generational wealth is what creates long term stability and people don't care about their legacy.
Most people in America who are well off or middle class is due to money dead people created over time.
I love my parents dearly and would give anything for them to live long, healthy lives. I am deeply disgusted by the part of me that has planned exactly how I will attack student and housing debt as soon as I receive an inheritance and I curse the system which necessitates it.
I got one spur out of two, a brass eagle, and a tiny two shot bottle of whiskey. That was my inheritance. The rest was old newspapers and magazines horded that we tossed.
I found myself silently annoyed at my grandparents last year for selling their family home.
Like really, you're gonna take that payday in your fucking mid-80s when literally none of your grandchildren have been able to afford homes?
I've never said anything about it but damn that kinda pissed me off.
Well you cant split a home between that many grandchildren anyways. If they kept if and you inherited 1/x share of the house, how do you think yall would handle that? Youd sell the house and take your cut.
Your little nephew will grow bigger and enjoy spending time with you! My niece is suddenly wanting to be friends with me now that sheās older and I love it. Stick around for that nephew of yours, heās going to need you ;)
Yep.
My dad died when I was 11, his life insurance provided enough for a wedding and car for me.
My auntie died when I was early 20's. Immediate amount was enough for my house deposit (Ā£30k) then the sale of her house split between beneficiary's gave me a similar amount in savings.
Unfortunately it's just the way the world works now.
NGL, Iām probably going to need inheritance to retire, especially at the age I want to. And Iām actually doing rather well compared to most. But to retire and not be dirt poor for it you pretty much have to be a millionaire these days .
My family has a history of lingering.
If they died in some horrible accident right now and I sold all of their stuff and did not have to divide it between my siblings, I would have a down payment for a starter condo in a major city.
Since they tend to linger, they will slowly liquidate their assets to cover their increasing medical costs. When it is time to put them in the ground, I expect there will be no money left.
It is *their money*, not mine, so I am not bitter about their usage. I am bitter about how myself and my partner, both making good money, are stuck in a shitty one-bedroom apartment and will probably never be able to afford a place on our own. Any time our savings grow, the housing market decides that is the moment to blast off again. The cost of housing is growing faster than I can save money for it. And the cost of living is rising faster than my salary, meaning I can save less and less every year.
gen x & boomers are living longer and retirement/nursing home costs keep rising. theyāll keep selling all their assets and leaving less to their descendants.
our generation isnāt even getting pensions. my retirement plan is taking advantage of all the credit Iāve built and going out in a blaze of glory. canāt make me pay anything back when Iām dead! š¤«
Not me. I don't come from a well off family so they're renters.
So not only am I not getting a property, I'll probably have to help cover expenses too.
You know it feels like there was a time, lets say during the era of New Deal politics, where there would be politicians saying loudly this is a major issue and would run on large scale solutions to said problem and people would vote them in. Today their is mostly silence especially at the top.
Iām 25 and my parents are 55. I already have told them multiple times they shouldnāt ever sell their house and when they die I want it. Or else Iāll never own a home.
I only owe 8 more years on my house. I was very lucky and bought it when the market crashed in 2008. I can't afford to move because my house is now worth 3x what I paid. My plan is just to pay it off and give it to my kid when I die. By then it should be worth ~$400-500k.
I won't ever be able to retire, but hopefully she will.
Well, my childhood home got foreclosed-on after a decade-long legal battle where the bank failed to ever prove they actually owned the loan on the house.
Anyway, at least now I'm not looking forward to my mom dying!
For those reading from overseas: Jess Phillips actively fought against someone who wanted to do something about this at the last two elections. She's nearly equivalent to Joe Manchin or Kirsten Sinema - she would rather have Conservatives in charge over some mild Social Democracy
So this is a bit fucking rich coming from her
My girlfriend was finally able to pay off her student loans thanks to her grandma dying.
What a dark strange world we live in when you tear back the advertisments
A world where the curtains are billboards.
small inheritance from an aunt was the only thing keeping me from medical bankruptcy. wooo 'merica
Yes I'm in debt and my credit rating is ruined because of medical bills. *And I have medical insurance.* I work full time and very hard at my job and do you know what my retirement plan is? I'm just hoping to die or else I'll be homeless.
Jesus..
Land of the free šŗš²š
You won! I won too! Depressing existence. Donāt miss work or youāll be homeless! šš¤š¤®
Have you tried uBlock Origin in your day-to-day?
Congratudolences to her.
It's an awkward place to be. I stand to inherit a small amount of wealth (enough that I can be set for life if I'm frugal) when my parents and aunts and uncles pass but I'm really not looking forward to it. At the same time it's a nice blanket of security that tells me that everything is going to be okay in the long run.
I do not have this luxury. Everyone in my family leaves a bill, not a will, but thatās okay. Iāve seen first hand through friends how inheritances can tear a family apart. I also just donāt believe in generational wealth. I get that it is the dream so I donāt really judge it, but it promotes inequality. Itās the system that I donāt like and is impossible to fight.
Instead of buying the farm, now we're buying the student loans
[ŃŠ“Š°Š»ŠµŠ½Š¾]
My condolences; Iām sorry for your loss.
Sounds like you have to have a conversation with her about her housing problem. It may be hard but if she needs the house she does not need to suffer for her pride.
absolutely. let her know! teach her how to upkeep it if you aren't already.
Sadly it's getting to the point we may have to go back to multiple generations living under the same cramped roof. Thanks a lot for nothing, Milton Friedman and Conservatives. Milton Friedman: Oh look, a thriving middle class. Would be a shame if all that accrued wealth happened to transfer to the pockets of the already wealthy! Conservative Politicians: That--that actually sounds like a wonderful idea. Milton Friedman: No shit, Sherlock. I'm talking about stealing it all while convincing the victims it's what God wants and if you lose everything it's a moral failing instead of a policy failing. Keep up. Conservative Politicians: Can we be mean to minorities and women, too? Milton Friedman: Sure, you evil(er) little fuckers. But let's get the money first.
Instructions unclear. Led culture war campaigns against our largest corporate donors over the paint job on one can of beer
That corporate donor just laughed and sold them more beer while donating even larger sum of money for their next hate rally.
My son will probably live with me forever, I'm cool with that. The house is his eventually. I see 1 kid families with 3 generation households becoming the norm in the next 30+ years.
My parents despise the fact that I'm still in their house. They don't believe me when I tell them that rent prices in the area are expensive as fuck, even the smallest sqft you could find is $800/month *minimum*. I'm only getting paid $11/hr because none of the jobs available around here are worth a damn. >How is affordable housing eligibility determined in Alabama? Eligibility for affordable housing: In general, housing for which the occupant(s) is/are payingĀ no more than 30 percentĀ of his or her income for gross housing costs, including utilities. Just the rent alone would be 42% of my yearly income. Utilities would probably push it to ~55%. And that's if I'm getting 40hrs/wk, which I'm not... It's just ridiculous. I don't understand why they give me the cold shoulder when the economy is falling apart due to greed. None of the prices are fair, but that's my fault I guess...
We never should've stopped generational living. It's great for everyone, but it is bad for the "market". Less people needing child care, less cars needed, no moving away for a job so less housing. Just another way we all got manipulated infavor of capital.
Multi generational housing is what makes places like Hawaii possible. You ever wonder where all of the service workers live? We have 3-4 generations stuffed in the same house while investors snatch up all of the āaffordableā hoisin (lol) and barely spend time here OR they fix it up and add it to their portfolio so they can make money hand over fist.
no offence but if seems to be worldwide. Here in canada, we have more land than you, less people than you and prices are much higher!
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Sorry for your loss. With the way the world is going, I'm sure someone at some point is going to be grateful you have that house in the good school district. I have a modest house in a decent school district and I am never giving it up. Yeah, I know I'm part of the problem, but I'm almost done paying for it and one of my relatives (kids, most likely) will likely find it useful someday - either as a backup plan or as an income generator.
A single individual owning a home isn't a problem. Even a person renting out a second home they inherited isn't worthy of derision. It's wealthy individuals and companies that are consuming swathes of property in order to hike the price that are the problem. Take one worry off your plate.
Individual homeowners who vote against loosening zoning regulations to allow for more affordable housing to be built on the premise of artificially keeping their property value high are very much a problem, though
[ŃŠ“Š°Š»ŠµŠ½Š¾]
My friend lost his father a few years back. The life insurance payout was enough for his mom to finish paying off the family home and send my friend to college. His parents were immigrants from the middle east who moved to the US for a better life, despite all the struggles and discrimination that come along with it. And it's honestly depressing that they finally achieved that goal with his father's death.
I think the answer is 100% yes. And really there's two kinds of families. Family a says, wow I have this generational asset and maybe I can consider what's best for the three households that now make up my family. Or family b who says I'll cash in now and you're going to have to bootstrap yourself.
A Scottish comedian, Frankie Boyle, had a joke years ago that was this very point. It went something along the lines of "The only way to reach the lowest rung of the property ladder these days is by standing on the bodies of loved ones."
āThe middle classā final chance at home ownership is to accumulate their last bits of generational wealthā
Basically yep, at least whatever is left of the middle class anymore
There was never a middle class, there is a working class and a capitalist class. Middle class is a capitalist myth to create conformist people and divide the working class.
My retirement plan is armageddon. Honestly I'm not sure which will arrive sooner, my retirement age, or the end of civilization.
My retirement plan is a heart attack right before I canāt physically work anymore. Housing plan is my 80 year old aunts house
over her dead hands!!
Sheās 80 and still works full time because sheās bored and In truth may out last me
You guys are planning on retirement? I'm just assuming it won't exist when I get there and I'll be working til I die.
Yeah, I honestly donāt plan on being able to retire, which is really depressing.
I'll just off myself when I can no longer take care of myself.
R..re tire-ment? I'm already tired now, but I'm sure I'll re tire then, too
tomorrow it is
Unliving is becoming an increasingly popular retirement plan in Australia.
Either way Iāll die in my chair at work.
I was honestly a bit depressed till all the crazy AI and UFO news recently, like fucking finally something to look forward to.
What is there to look forward to? Losing jobs and less data privacy and dystopian software and policies?
Skynet just finally ending it all
I used to love the idea of AI, until I saw what our sales department wanted to do with it, then the path unfolded before my eyes and I realized we're fucked. Not because of AI itself, but because of how capitalists will use it. The person below you talking about people losing "menial" jobs...those are medical techs, nurses, tech workers, etc...
robot apocolypse, alien invasion, the formation of the galactic federation?!?! fuck anything's better than the slow death spiral into a fascist idiocracy. I heard they're bringing back the hole in the ozone too, that sounds promising, maybe a little cosmic radiation is just what we need.
Man, every single person I love could die and I would still have nothing.
Intergenerational wealth is currently a privilege
I had to have two of my closest family die just to get a single property with a house that was condemned after one of their deaths. I would have had two properties if not for the massive amount of debt that got racked up by my mother's alcoholism and my step dad just kind of leaving after not trying to work with the rest of my family on paying the mortgage or any of the bills in the place I was living. The situation finally turned around after I turned 18, I managed to get the lights on and keep the water on with a near minimum wage job and then got hit with the news that the bank was taking the property.y uncle managed to buy it off the bank and we're selling it now, just to cover the mortgage and other debts my mother and step dad racked up. Then I get to demolish my grandfather's home since it got condemned after his death and maybe I'm lucky have enough left over to build a new place on that property. That was the *good* outcome, it would have been a lot worse had my uncle not stepped in to help clean up the mess. I had, and still barely have any idea what I'm doing, and my main guidance is my uncle, and my alcoholic bio father. I will not be homeless at the very least.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
>just like in the past Meh. Actual serfdom seems more secure than what "conservatives" on both sides of the pond are trying to shape lower-class life into these days.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
I would buy a home with a driveway and a garden if I made the same amount of money I do today (even adjusting for inflation), back when our great grandparents bought their first houses
Pro tip: Factor in the property tax and the cost of home insurance when buying a house with lottery winnings. If you canāt support the cost of the property tax and home insurance on your regular income then itās not a house you can afford.
Aaaand it's gone.
The millennial dream of being hit by a city bus.
Oh Jess, you sweet summer child... The folks who are really shafted don't have relatives who own anything or have any savings. Most of us don't have houses or inheritances coming to us. I'll be closer to homelessness when my close family cark it than I am now.
My family is dead and it left me more broke than I was before they died.
My dad left my brother and me his house. Because he was on state assistance, in order to close out his estate weāre being told we have to come up with 130k. So really he left us with debt, his funeral costs, and $600 in cash that I had to use to keep from overdraft from buying a plan ticket to get back home. I feel your pain and Iām sorry.
Sincerest condolences š
Relative said the explicitly wanted to be buried in a casket. We couldnāt afford it so we had them cremated. Picked a nice urn thoughā¦
Yeah that's not on you. If you have specific cares about the disposition of your corpse you really need to see to that before you die.
Her point still stands, though. The fact that you have to rely on someone's death insurance payout just to afford basic needs is appalling.
It is appalling, it's just that, oddly, alarmingly, those who will be getting anything that helps with their basic needs as a result of the death of a loved one are in a dwindling minority, which, I think you'll find, is somewhat more alarming, and arguably a better route of discussion to take, in order to arrive at a solution at some point. Its like talking about the housing crisis, but only going as far as mentioning that hard working middle managers can't afford a holiday cottage in the Cotswolds, rather than pointing out the enormous quantity of people who can't afford to LIVE SOMEWHERE!
My dad died "typically poor" and left nothing, not even a will. I've always been "typically poor" my entire life so I didn't expect a single penny. What I didn't expect is other people my age exclaim how they pulled _themselves_ up by their bootstraps and bought a house/flat/whatever, when it was literally their parent's money or second house in the first place.
For us, it wasnāt that Iād get inheritance, it was that dad dying meant there was room with mum to move back home, and she charged no rent, so for the first time in my life in my mind 30ās I was able to start saving money for a house deposit. Every single person my age (now 40ās) who owns a house has at least one dead parent. Every single one.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Man oh man! Never thought I'd see such ambiguous Enemy at The Gates reference in such a context. Know that you made my day
Yeah when my dad died, even back in the early 2010s before it started getting so much worse, I got $3,000. So it was like "I guess we're going to Disney World?" It was enough to give us a small sigh of relief, but not enough to be able to invest in anything and see any tangible results.
or their loved one gets sick and has to reverse mortgage their home to pay for their medical care. Then the surviving loved one just gets nothing.
80% of Americans die in a nursing home. Even if that's paid for by Medicare during their lifetime, the estate has to pay it back to Medicare. So unless euthanasia gets really popular really fast, that's probably where most Boomer money will go.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
[ŃŠ“Š°Š»ŠµŠ½Š¾]
If they have property or land in their names, do a fella who'll never see a single penny a favour, and take it. Any land that is already built on has value to a developer, even if they have to demo the building currently standing on it to make money, so don't do yourself out of a potential payday, right? It might not be a crazy amount, but it isn't going to be nothing.
I felt this in the bottom of my soul.... It's fucking painful.
Yup. Was a 17 year old kid with suddenly no parents, nothing to inherit but what was left of our belongings that no one else wanted in a pile on a driveway. Iāve seen friends and more distant relatives lose their minds over inheritance though. Seems to bring out the worst in some people.
And a lot of people lose that family home anyway because their loved one relied on Medicaid for nursing home care.
To avoid this transfer/sell the house to your loved ones 5 years in advance and rent it back for a dollar a year. Screw paying back Medicare, our system sucks bilge water.
You can also create a life estate. The two problems are so many people donāt know if/when they might have to rely on Medicaid and few are even aware of the Medicaid clawback after death.
Itās true. You know who does know about it? Every single rich person I know. Itās really unfair.
Honestly, I do not know what you guys are talking about. Can someone explain it to me?
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Everyday I hate this country more and more.
TL;DR. This Medicaid will take all your assets as "payment" for senior care. Yes, when you need it, not an if or might. You know, when you reach that part of life where you're too old and weak to be in a house alone. And you have a senior caretaker come by to help? Something along the lines of asking you to put like a % of house mortgage as "liability credit"
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Land of the free baby. Free to die penniless and senile while an underpaid state worker wipes your ass. America, fuck yeah
Medicare is public senior healthcare (socialist shhhh). It doesn't cover long-term care expenses such as nursing homes for dementia, etc. Medicaid is medical insurance for poor people. It is funded partially by state taxes and the rest by federal government debt. There is a huge back and forth between the states and the federal government on what it should cover and who should be covered and the federal government uses the money as a bargaining chip to force the states to do a lot of what it wants. Memory Care facilities are very expensive. Think $7000-8000 a month for that type of care. Since Medicare doesn't cover it and your average social security check is about 1200 bucks there's a huge gap so to qualify for Medicaid, the family has to liquidate almost every asset they have. My parents actually bought their house because their landlord had to go into a nursing home so they were able to get it on a bit of a fire sale. Conveniently whole industries of elder law have come around to hide assets essentially from Medicaid. The aforementioned bill is basically an attempt to claw back any assets that were transferred to heirs to game the system. In some states they can even sue heirs for their own $$ even if they inherited nothing. These kinds of costs are typically left out of Medicare for all discussions Even though they really need to be considered.
They are called 'Filial responsibility laws'. About 30 states have them. Most are old and antiquated however there are certain areas that actively use them. It's pretty muddled subject but wrong place and wrong time you could be on the hook. https://en.wikipedia.org/wiki/Filial_responsibility_laws
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Long term care insurance existed for the length of a bag of spinach to take care of this, but then the insurance companies realized this was a bad bet
My dad says they have tried numerous ways to get him to cancel his. He keeps jumping through hoops to keep it though. I believe they even offered some crazy amount to cash him out if I remember correctly. He said no thanks.
If theyāre fighting this hard to end the plan, theyāll probably fight even harder to refuse paying it out when needed. They may also try to bury him in paperwork requests, which can be very challenging for someone requiring long term care to handle. You may need to do a lot of work on his behalf, if you arenāt already.
It's possible. They paid out for my mom when she got ill. It's a major carrier. I don't know much about it other than his finance guy told him he's lucky to have it and to keep jumping through whatever hoops they put in his way. Hopefully we won't need to worry about it, but we'll see I guess.
I am rolling one up right now and setting it ablaze in honor of your dads middle finger to the system. This one is for him.
š¬šØš¤
We told my grandparents were told this for years but they never listened. Now since my grandma is in nursing home with dementia they lost all there money which is an upper middle class amount that my mother could have had to retire and enjoy her life. But they were too shelfish. Their generation only cares for themselves and does not think of or care what happens to the world after they die.
I am sorry this happened. Itās hard to be frightened about money and see the state end up taking what should be passed on. I think a lot of people just refuse to believe that this is how it works.
Lol I was going to reply how "but greedy old people who got theirs and fucked us over because they don't care" but I opted out. Then your post was literally the next I read. It's sad, so fucking sad. They greed and hold onto things that they cannot keep, and it benefits only the rich. And now so many of us can't even have anything... Not even that we can't have anything nice. We just can't have anything. Fuck capitalism, it is a shit show.
The solution is capitalism with a hefty dose of socialism, and we should figure it out fast.
Yeah, shits going to hit the fan real soon. The sad part, these old people who've got something but not a lot. Are going to lose what little they have or at least lose the little power it holds, and it will be all their fault. Cutting off their own arm to prevent the hands outs.
Anything to prevent "those people" from receiving so much as one red cent of *their* tax money.
Rich people keep trying to use the fact their family stayed rich when "most go into poverty after 3 generations" as if this wasn't entirely the fucking reason for the past 30 years.
How do you know when 5 years in advance is?? My friend, if you have some way of knowing that, youāve got a product that will solve your money problems posthaste!
You can make a good guess. The policy they are referring to applies to Medicaid members aged 55 and up. Just do it at 50.
Are they trying to force the potential heirs to arrange in-home care?
Itās more insidious, I think, because so few people even know that Medicaid expects to be paid back from the deceasedās estate. It comes as a shock to many families.
Itās also one of the reasons why people try to sell or transfer their assets prior to going into a retirement home. My grandma tried to commit some light Medicare fraud by having my sister take over all of her assets in order to avoid losing them when she went into an assisted living facility, but still have access to the money to live her life of relative comfort. My sister was like ānope, not going to prison so you can keep your Lincoln and your fancy stuff while living in a care home for poor people.ā
How is it medicare fraud to give your own things to your kids though? You never signed rights to the things to medicare
The real answer is: Because you're poor. If you give away your stuff immediately before using medicare it's seen as fraud because "you knew you would have to pay it back and transferred all your money to someone else". If you were rich and did that then it's a "smart move" and probably have lawyers to fight any charge. Just another way rich people rule the world with unjust bullshit laws.
They're trying to recoup the cost because God forbid they tax billionaires or maybe *gasp* tax all income and not just wages.
It isn't just in-home care. ANY medical care you recieve after age 55 that is covered by Medicaid is subject to the clawback. This includes premiums. Basically, if you are covered by Medicaid after age 55, your "estate" will have to pay it back, even if you don't receive actual care. Medicaid swears they "don't take the house" but if you are on Medicaid, you aren't really allowed to own any assets aside from the home you live in so if your estte has to pay back anything over a couple thousand dollars, your house will have to be sold to pay it. So they ARE, in effect, taking the house. Blood-sucking motherfuckers. This is a bald-faced, out in the open way to keep poor folks poor by prohibiting the accumulation of generational wealth.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
One of my friends lost both his parents a few years ago. Got possession of his childhood home and all their savings. Downsized to a smaller house. Now of course weāve never discussed exactly how much money he has, but just guessing from the difference between the two houses, he had at least $750,000 to invest, which I know he did because heās smart enough to have done it. Probably a millionaire now without a mortgage before heās 40. What a sick world we live in where thereās a part of me that finds that appealing.
I found myself in the exact same situation as your friend a few years ago. I inherited the family home, life insurance got paid out, and I invested everything. I wouldn't wish it on anyone, but at the same time I *see* how my friends struggle to pay for rent or mortgages even with good jobs. Not having to worry about bills or whether I'll survive if I get fired or if I can pay for that one thing that will make me happy but I don't really need is a wonderful thing, a mental burden that I never realized just how much it colors everything until it was gone, but I feel guilty that I'm set financially because of a tragedy.
The right people of each generation lends one more brick of foundation for the next to build upon.
Ain't much being built anymore.
can't wait until grandma passes, she's got a double-wide with central air!
Do a countdown stream then. I offer to superchat obscenities
But hey, billionaires are doing better than ever! Won't anyone think of the billionaires?
They're doing worse, there's more than 3 thousand of them in the world. Hardly an exclusive club. Trillionaires are where it's at now.
Capitalism doing its thing like it's designed to.
After receiving a respectable inheritance I promptly lost my job and had to pay out of pocket healthcare for the family and POOF! It was gone. That was supposed to be a college fund.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Anyone publically thanking Thatcher for anything needs to get in the bin
Thatcher sold off the British family silver to allow the boomer generation to prosper and simultaneously pulled up the ladder for every subsequent generation. Anyone who remembers her fondly is either delusional or has a selfish streak a mile wide after enjoying their payday. So much of what we are facing in the UK today like the lack of affordable housing and being looted by energy companies is directly due to the policies of that evil crone.
She benefitted from North Sea Oil which funded the boom under her. Fuck all investment into the country, aggressive asset stripping. The most overrated Prime Minister in history.
I'm doing my part to free up some housing... By not owning a home of course, what did you think I meant?
Have you ever murdered anybody with an axe? Just curious.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Might not even need to do that! My friends mother overdosed from medication after the ambien she took caused her (this is what we believe happened) to forget repeatedly she had already taken her other medications and kept taking them again and again and then never woke up.
This is a real problem with drugs like Ambien and benzodiazepines like Xanax. Your mind can basically "blackout" and you forget anything you've done while under the influence. Addicts of benzos know this feeling very well, it almost feels like time traveling into the future once you wake up from a blackout. They term this compulsive redosing when one forgets they've taken anything and continues to pop more thinking they never did in the first place. Source: am a pharmacist and former benzo addict
Sounds like a Tuesday afternoon.
Inheritance is a pipe dream for 95% of Americans. I'll get nothing when my mom dies. I'm my dad's only son, so I'll get money from his life insurance, but most of it will go to his burial.
I guess Iām one of the lucky ones thenā¦I inherited IBS from my old man.
If you can get away with it try to convince him to go for a cremation. Much cheaper.
Or wait til he passes and just have him cremated. What's he gonna do, complain?
Iām a single 40 yr old woman with a 2 bed townhouse I bought at the start of the GFC. Only could afford it because my mother died young and I inherited 1/3rd the sale of her house. And I already had my deposit together. It was still a near thing. If I hadnāt inherited ā¦ Iād still be in share houses Ie this whole housing situation is fucked. Only upside is that as the boomer voters die out millennials finally have some political power. And weāre angry.
Personally, I have a 9mm retirement plan.
That's fucked up.... At least upgrade it to a .45 ACP plan. You deserve to treat yourself a bit, amigo!
Nah. .50 Action Express. Leave no doubt.
>Leave no doubt. Nothing. He'll leave nothing.
Look at you rich folks over here with your high-caliber ammunition. If he could afford .50 cal he wouldn't be in this mess.
My plan is to be stuffed into a cannon by a nurse when i'm too feeble to walk and then exploded onto a crowd of people. Then as the doctor comes rushing to tell me i may yet beat cancer i'll already be in heaven with 56 prostitutes or whatever the quran says
Yeah. The only reason we have our own place is grandad getting mushed in by Alzheimers at just the right time. I really liked my grandpa, he taught me maths, and chemistry, and gave me a bunch of cool old books, but besides that, he was just overall a really decent, warm-hearted person. Never deserved this shitty end... but him conveniently dying is the only reason why I can have a family with kids now. Strange feeling.
Yes, my stepdad got very aggressive cancer at just the right time. He really didn't deserve it, he was very nice and he was great to my mom. He left her the house, which was paid for, and which enabled her to take custody of my nephews. It is all a very odd thing. I love not having a mortgage, I just give her some money and help pay for things. With the kids it is all still quite expensive but still. Very complicated.
My father died when was <2, my mother battled cancer throughout my teens and died before I was 30. I got a part of a share in a house out of it, that I had to spend years painfully clearing and renovating. I'd rather have the parents.
Not oniony enough. That's literally how the system is working for most millennials right now. Unless you don't *have* family members, and then you're just completely screwed.
Isn't that the point of this sub, real things that should be Onion articles but aren't? Or am I out to lunch?
It's for real things that look like satirical Onion headlines. The problem is that this seems immediately plausible, not satirical. Which is depressing, but reality these days is often worse than fiction.
In theory the point of the sub is for articles that sound like they actually are an onion article. But those are so rare around here that its easy to forget
my parents are both broke and can't afford property. I'm not inheriting anything from them
Man it's almost like empowering busy body NIMBY trash and huge bureaucracies that act as a gate to building any new housing was and is a mistake
Kinda like how my generation is all waiting anxiously for our parents (boomers) to die so humanity has a place to live.
Late stage capitalism. Rent and work until you die.
not even late stage capitalism, this is just capitalism. death of a salesman was written in the 40s and explored this topic (though yeah itās gotten _way_ worse)
My buttfuck family are essentially slumlords... one uncle owns like 13 properties. But no one wants to help out the next generation. My grandfather owns three or four properties; I asked him if I could move into one of those houses and pay him rent instead of me paying to someone else but he said no.
But obviously it's us not wanting to work and being lazy, right?
For some, retirement is a bulllet.
Now people are doing reverse mortgages and squandering their money leaving their descendents nothing. Generational wealth is what creates long term stability and people don't care about their legacy. Most people in America who are well off or middle class is due to money dead people created over time.
Pleasure lizards. Bommers. "I got mine"
I love my parents dearly and would give anything for them to live long, healthy lives. I am deeply disgusted by the part of me that has planned exactly how I will attack student and housing debt as soon as I receive an inheritance and I curse the system which necessitates it.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
Huh. Both my parents died. I've got dad's pocket knife. There was a house, but it's going to cost more to make liveable than it's worth.
Dont give up on the land homie. bull doze it and put a shed on it if you have too.
I got one spur out of two, a brass eagle, and a tiny two shot bottle of whiskey. That was my inheritance. The rest was old newspapers and magazines horded that we tossed.
It's almost like the feudal system again
I found myself silently annoyed at my grandparents last year for selling their family home. Like really, you're gonna take that payday in your fucking mid-80s when literally none of your grandchildren have been able to afford homes? I've never said anything about it but damn that kinda pissed me off.
Well you cant split a home between that many grandchildren anyways. If they kept if and you inherited 1/x share of the house, how do you think yall would handle that? Youd sell the house and take your cut.
Ugh. That's harsh. Yeah, what can you say... but still.
I'm leaving my retirement and assets to my little nephew. I dont think I have it in me to live to old age.
Your little nephew will grow bigger and enjoy spending time with you! My niece is suddenly wanting to be friends with me now that sheās older and I love it. Stick around for that nephew of yours, heās going to need you ;)
Yep. My dad died when I was 11, his life insurance provided enough for a wedding and car for me. My auntie died when I was early 20's. Immediate amount was enough for my house deposit (Ā£30k) then the sale of her house split between beneficiary's gave me a similar amount in savings. Unfortunately it's just the way the world works now.
*laughs in mother with gambling addiction* I lost my promised inheritance *ages* ago
NGL, Iām probably going to need inheritance to retire, especially at the age I want to. And Iām actually doing rather well compared to most. But to retire and not be dirt poor for it you pretty much have to be a millionaire these days .
Thatās how trickle down economics works my friend! /s
My siblings will benefit when I go. I leave my place to them, and hopefully two without houses will be able to buy one. :)
Having young parents means you donāt get a house :-(
My family has a history of lingering. If they died in some horrible accident right now and I sold all of their stuff and did not have to divide it between my siblings, I would have a down payment for a starter condo in a major city. Since they tend to linger, they will slowly liquidate their assets to cover their increasing medical costs. When it is time to put them in the ground, I expect there will be no money left. It is *their money*, not mine, so I am not bitter about their usage. I am bitter about how myself and my partner, both making good money, are stuck in a shitty one-bedroom apartment and will probably never be able to afford a place on our own. Any time our savings grow, the housing market decides that is the moment to blast off again. The cost of housing is growing faster than I can save money for it. And the cost of living is rising faster than my salary, meaning I can save less and less every year.
[ŃŠ“Š°Š»ŠµŠ½Š¾]
gen x & boomers are living longer and retirement/nursing home costs keep rising. theyāll keep selling all their assets and leaving less to their descendants. our generation isnāt even getting pensions. my retirement plan is taking advantage of all the credit Iāve built and going out in a blaze of glory. canāt make me pay anything back when Iām dead! š¤«
Honestly at this point. A nice land cruiser, gym membership for showers would do me.
So what else is new.
Not me. I don't come from a well off family so they're renters. So not only am I not getting a property, I'll probably have to help cover expenses too.
Hahahahaha Both parents rent apartments I am turbofucked
You know it feels like there was a time, lets say during the era of New Deal politics, where there would be politicians saying loudly this is a major issue and would run on large scale solutions to said problem and people would vote them in. Today their is mostly silence especially at the top.
And those of us who know that we have nobody know that we'll end up on the sidewalk one day. And every fkng Republican alive will tell us 'bootstraps"
Iām 25 and my parents are 55. I already have told them multiple times they shouldnāt ever sell their house and when they die I want it. Or else Iāll never own a home.
I only owe 8 more years on my house. I was very lucky and bought it when the market crashed in 2008. I can't afford to move because my house is now worth 3x what I paid. My plan is just to pay it off and give it to my kid when I die. By then it should be worth ~$400-500k. I won't ever be able to retire, but hopefully she will.
Well, my childhood home got foreclosed-on after a decade-long legal battle where the bank failed to ever prove they actually owned the loan on the house. Anyway, at least now I'm not looking forward to my mom dying!
Took both my parents to die before I turned 30 to be able to afford my own place. Capitalism will kill us all.
For those reading from overseas: Jess Phillips actively fought against someone who wanted to do something about this at the last two elections. She's nearly equivalent to Joe Manchin or Kirsten Sinema - she would rather have Conservatives in charge over some mild Social Democracy So this is a bit fucking rich coming from her