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i think its sad and scary. when my parents were poor and young they saved up for a down payment on a house in a year and were fine. kris and i work good jobs and i cant imagine even being able to do that in 5 years. it seems like the things that were atainable even 10 or 20 years ago are so much harder for families today. the country is very obviously slipping... what is there to do?

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i think its sad and scary. when my parents were poor and young they saved up for a down payment on a house in a year and were fine. kris and i work good jobs and i cant imagine even being able to do that in 5 years. it seems like the things that were atainable even 10 or 20 years ago are so much harder for families today. the country is very obviously slipping... what is there to do?

 

Try to stay positive and keep working it at it. Actually, w/ all the different avenues of financing, getting a mortgage may be easier than you'd even think...granted, you have to be able to pay it each month, but it really is possible.

 

I didn't think we'd ever get into a house...or buy a car that wasn't used...or be able to afford having kids...but we kept working towards all of those things and tried to be patient and do it on our own timetable. I'm not saying that the country isn't slipping, but it doesn't mean you have to give up either.

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i haven't given up! im just frustrated, is all :) wages havent budged in 10 years but real estate is through the freaking roof... it just seems so much more daunting, is all!

 

I figured you haven't, just had to say it anyhow. My feeling is that the real estate market has hit a wall or will hit one soon. Just a feeling, but houses aren't flying off the market like they used to and sellers are realizing they have to be more realistic.

 

Bottom line, when shit is rough like it is right now, the only answer is to work harder and things will pop.

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Crikey! Where do ya come up with this stuff? Should be framed on my wall or something

Google image search "iww" or "wobblies" - if you can't find it, send me your e-mail and i'll send it to you. I think the image I have on my hard drive is bigger than that one.

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i haven't given up! im just frustrated, is all :) wages havent budged in 10 years but real estate is through the freaking roof... it just seems so much more daunting, is all!

I didn't think we'd ever be able to afford a house in Ann Arbor (while it ain't Chicago, it's about as expensive as Michigan gets), but we saved our money and finally did it. For us, a lot of it was getting rid of other debt and becoming the kind of people who save up for stuff rather than putting it on credit cards -- the way people did it in the old days. Credit cards are a disease.

 

Oh, and having realistic ideas about the kind of house we could afford helped, too. Our loan guy approved us for houses almost twice as expensive as what ended up buying. Just because they say you can buy that McMansion doesn't mean you should.

 

Looking forward to a nice relaxing Labor Day of nothing in particular. :D

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Obviously working hard and saving is good advice for anyone. However, this commentary suggests that American workers, as a whole, have been working longer and more efficiently, yet still losing ground (relative to the career life cycle of their parents). If it were just a matter of international competition keeping wages down, then you'd expect to find a similar supression of wages amongst top-level executives and diminished returns for investors. On the contrary, they are reaping of the benefits of this increased productivity. Essentially, the American pie is growing, but most people are seeing a smaller slice (again, relative to the career arc of previous generations).

 

So if we agree that this is a bad thing (not everyone does), then we should consider what might be done about it.

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Obviously working hard and saving is good advice for anyone. However, this commentary suggests that American workers, as a whole, have been working longer and more efficiently, yet still losing ground (relative to the career life cycle of their parents). If it were just a matter of international competition keeping wages down, then you'd expect to find a similar supression of wages amongst top-level executives and diminished returns for investors. On the contrary, they are reaping of the benefits of this increased productivity. Essentially, the American pie is growing, but most people are seeing a smaller slice (again, relative to the career arc of previous generations).

 

So if we agree that this is a bad thing (not everyone does), then we should consider what might be done about it.

 

Work your way up to a top-level executive position or invest heavily?

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maybe paying laborers and workers a bigger piece of the pie and a fair wage? If it weren't for the laborers, the high execs wouldn't even have a job.

 

But, that's a piss poor idea.....CEOs would have to give up that 3rd vacation home in Tuscany just so some hard working family wouldn't have to make the choice month to month between being able to pay the rent or the electric bill.

 

:P

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I won't pretend to know the answer. Knowing that there is a problem is the start and I'm unapologetic about that. However, I do think that a lot of legislation that has been proposed or passed over the last 15 years or so has taken us in the wrong direction. Changing the definition of exempt and non-exempt workers so fewer get paid overtime, rolling back the estate tax and dividend taxes, taxes on the top income bracket, etc.

 

I know you didn't bring it up, but I'm really not interested in talking about my personal financial situation any more than I'm interested in talking about yours. Anecdotes are fine, but they should be placed in context.

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You ask me, the working people in this country are getting jobbed. It used to be that one person in the family had to have a job, and they could afford a house, a car with fins on them and a TV. Now, two or more people usually have to work to get by. It's getting harder and harder to stay in the middle class. I expect to receive a letter one day from the Hudson Valley saying I can no longer afford to live there, and would I take my broke ass to Detroit or wherever so my apartment complex can be torn down in favor of rich people's housing.

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maybe paying laborers and workers a bigger piece of the pie and a fair wage? If it weren't for the laborers, the high execs wouldn't even have a job.

 

But, that's a piss poor idea.....CEOs would have to give up that 3rd vacation home in Tuscany just so some hard working family wouldn't have to make the choice month to month between being able to pay the rent or the electric bill.

 

I know you're being kind of sarcastic and lord knows i'd love a bigger piece of the pie. I learned a long time ago to make my own pie vs. wait for someone to give me some though. Plus, CEO's do make an asinine amount of $...but ask yourself if you are under anwyhere near the amount of pressure they are. They aren't all bad people, plus i'll bet it's ten times easier for me to outlast ours should the business hit a rough spot. Tons of pressure there...ours has a cot in his office and is known to sleep there during busy times. Works his ass off.

 

What was :hmm for?

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