tag:blogger.com,1999:blog-18675105.post113869572741658214..comments2023-12-30T10:06:37.450+00:00Comments on HousingPANIC - The Housing Bubble Blog with an Attitude Problem, 2005 - 2008: Let's get it on - Gen X / Gen Y vs. the Baby Boomersbloggerhttp://www.blogger.com/profile/06585266242070350399noreply@blogger.comBlogger27125tag:blogger.com,1999:blog-18675105.post-1155108880600766812006-08-09T08:34:00.000+01:002006-08-09T08:34:00.000+01:00Hey, you have a great blog here! I'm definitely go...Hey, you have a great blog here! I'm definitely going to bookmark you!<BR/>I have a <A HREF="http://www.credit-center.ws" REL="nofollow">rv financing</A> site.<BR/>Come and check it out if you get time :-)<BR/>Greetings.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1139891439199252592006-02-14T04:30:00.000+00:002006-02-14T04:30:00.000+00:00Took out a $450,000 combine line of credit to shor...Took out a $450,000 combine line of credit to short KBH and BZH. By Thursday, there will not be shares to short....Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1139030841219728172006-02-04T05:27:00.000+00:002006-02-04T05:27:00.000+00:00I don't see why anybody admires "amazingruss". Th...I don't see why anybody admires "amazingruss". The guy is basically lazy. He says his motivation is sapped and only wants to work 3 to 4 days a week. He should take a look at his dad who worked his butt off for 25 years and raised a family. The gen xers and yers who think like amazingruss are why the US economy is losing ground. No matter how you slice it up - boomers, gen xers, yers, tweaners, there is no substitute for hard work, you reap what you sow. The guy whos writes this blog is posting sour grapes. Fact of the matter is the boomers worked harder and longer than anyone else they deserve what they earned. If gen xers would put in the hours they'll have as much or more as any boomer ever did - it might not be real estate but working for a living does pay off.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138954410075701422006-02-03T08:13:00.000+00:002006-02-03T08:13:00.000+00:00Hear! hear! Amazingruss! Yes, you understand compl...Hear! hear! Amazingruss! Yes, you understand completely and hopefully, after the economic devestation, many more will too.<BR/><BR/>And Grinch hit the nail on the head: it's not age that caused the mess here, it's attitude. Plenty of greedy, materialistic people in every generation. <BR/><BR/>Met more than a few of all ages.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138837986825262072006-02-01T23:53:00.000+00:002006-02-01T23:53:00.000+00:00True dat. Reaganauts then, Shrubbies now.True dat. Reaganauts then, Shrubbies now.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138806697146187282006-02-01T15:11:00.000+00:002006-02-01T15:11:00.000+00:00Bill - If you look at the age range, the Yuppies W...Bill - <BR/>If you look at the age range, the Yuppies WERE boomers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138779026632526612006-02-01T07:30:00.000+00:002006-02-01T07:30:00.000+00:00Ford and Obama show promise?? Give me a break. Ou...Ford and Obama show promise?? Give me a break. Our only hope was SS privatization which they were both against.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138770325149438302006-02-01T05:05:00.000+00:002006-02-01T05:05:00.000+00:00This blog went from cool to lame.This blog went from cool to lame.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138753338489789152006-02-01T00:22:00.000+00:002006-02-01T00:22:00.000+00:00This is ridiculous. This article is written as if ...This is ridiculous. This article is written as if the Boomer conspired to screw the Gen X and Gen Y generation. These people have been working for 30 years or more and only think they're getting what they're worked for in the past.<BR/><BR/>Instead of zeroing in on the expenditures of the Boomers, who aren't spendthrifts as the article suggests, we should look at their expenditures. Americans are living longer and we're used to a high standards of living. The older boomers that grew up with simple lifestyles will make it work if they earned enough to save.<BR/><BR/>However, those that were in low wage jobs, lost retirement plans, have mortgage payments, were scared of investing, have small savings, and have medical problems will be in trouble. This catergory of person is probably not of the ordinary. <BR/><BR/>The upside of the Boomers is that it was easier for them to get employment without having to spend thousands on college degrees and have extremely high credentials. In the past a person with a high school degree or unrelated college degree could earn 80K to 100K after working for the same place for years. That's not likely to happen in our generation.<BR/><BR/>Our major problem is that our income cannot keep pace with our education expenses and living expenses. Employers are more cost conscious and will do almost anything to eliminate labor costs. It will be difficult for Gen X/Y to create wealth by homeownership when most of our high skilled jobs are in expensive cities that make it impossible for us to save and the suburbs are crowded too. <BR/><BR/>Gas and cars are expensive, so commuting will probably eliminate most of the extra income. We can't live like Boomers. Boomers could live in a one bedroom home on a farm with no television or Internet in the boondocks. Gen Y is so reliant on services and entertainment it will be tough for us. <BR/><BR/>Major employers that hire more than just techies need to move to new areas and reduce their concentration in over priced areas. Also, we need to question the prices being charged to seniors. I know there are costs involved in providing services and medicine but these costs are so high they need to be reduced.<BR/><BR/>If anything we need to be really nice to old people, so they will put us in their wills. We're going to need the money. Unless you're an investment banker, a professional athlete, Big Law lawyer, or surgeon among other things money is going to be tight. This is very true when your potential kids will cost a fortunate to educate whether it's actually paying for the education or moving into a good school district.Xhttps://www.blogger.com/profile/11190937667850409614noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138751464120806442006-01-31T23:51:00.000+00:002006-01-31T23:51:00.000+00:00Blaming the Boomers for FDR's Ponzi scheme is absu...Blaming the Boomers for FDR's Ponzi scheme is absurd. Boomers will be voting well into the 2040-50s and 65 million votes is enough to get the attention of any Gen Y President.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138748569543423982006-01-31T23:02:00.000+00:002006-01-31T23:02:00.000+00:00Amazingruss said:"I'm focusing on the intangibles....Amazingruss said:<BR/><BR/>"I'm focusing on the intangibles...time to think quietly, write music, and software that has no concievable use but art. Time to walk over and hug my wife 20 times a day. Time to learn things that have no conceivable economic benefit."<BR/><BR/>What a nice outlook. You sound like the kind of person I've always admired.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138739936383813442006-01-31T20:38:00.000+00:002006-01-31T20:38:00.000+00:00That Obama reference kind of bothered me.. I had n...That Obama reference kind of bothered me.. I had never seen him mentioned as a gen X/Y phenomenon, instead he is usually promoted as a half-White("the first Black") who is in the Senate.<BR/><BR/>In regard to the idea that geezers can vote in their geezer-saviors: I don't think so. Political campaigns run on youth-power. Geriatrics aren't going to be able to mobilize like gen X/Y can.foreclose_mehttps://www.blogger.com/profile/06350575616920572538noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138735979595509832006-01-31T19:32:00.000+00:002006-01-31T19:32:00.000+00:00It's too simplistic and too easy to blame the boom...It's too simplistic and too easy to blame the boomers. You make it sound like they colluded together to cause this. Give me a break. Every generation blames the previous generation for something.Marinitehttps://www.blogger.com/profile/01778945220593425787noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138731518009386492006-01-31T18:18:00.000+00:002006-01-31T18:18:00.000+00:00The correct link is:http://newspundit.net/americai...The correct link is:<BR/><BR/>http://newspundit.net/<BR/>americainchains.htmlAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138731252530052012006-01-31T18:14:00.000+00:002006-01-31T18:14:00.000+00:00Phoenix 7/20/2005 107487/21/2005 109687/22/2005 11...Phoenix<BR/> <BR/>7/20/2005 10748<BR/>7/21/2005 10968<BR/>7/22/2005 11122<BR/>7/23/2005 11424<BR/>7/24/2005 11338<BR/>7/25/2005 11112<BR/>7/26/2005 11315<BR/>7/27/2005 11353<BR/>7/28/2005 11390<BR/>7/29/2005 11471<BR/>7/30/2005 11656<BR/>7/31/2005 11609<BR/>8/1/2005 11599<BR/>8/2/2005 11590<BR/>8/3/2005 11635<BR/>8/4/2005 11714<BR/>8/5/2005 11710<BR/>8/6/2005 12196<BR/>8/7/2005 12658<BR/>8/8/2005 12919<BR/>8/9/2005 13244<BR/>8/10/2005 13099<BR/>8/11/2005 13245<BR/>8/12/2005 13389<BR/>8/13/2005 13846<BR/>8/14/2005 13801<BR/>8/15/2005 13607<BR/>8/16/2005 13779<BR/>8/17/2005 13992<BR/>8/18/2005 14087<BR/>8/19/2005 14279<BR/>8/20/2005 14321<BR/>8/21/2005 14457<BR/>8/22/2005 14336<BR/>8/23/2005 14391<BR/>8/24/2005 14529<BR/>8/25/2005 14617<BR/>8/26/2005 14792<BR/>8/27/2005 15011<BR/>8/28/2005 14984<BR/>8/29/2005 14803<BR/>8/30/2005 15042<BR/>8/31/2005 15099<BR/>9/1/2005 15063<BR/>9/2/2005 15159<BR/>9/3/2005 15404<BR/>9/4/2005 15699<BR/>9/5/2005 15621<BR/>9/6/2005 15513<BR/>9/7/2005 15913<BR/>9/8/2005 16106<BR/>9/9/2005 16489<BR/>9/10/2005 16716<BR/>9/11/2005 16609<BR/>9/12/2005 16697<BR/>9/13/2005 16538<BR/>9/14/2005 16900<BR/>9/15/2005 16952<BR/>9/16/2005 17419<BR/>9/17/2005 17583<BR/>9/18/2005 17577<BR/>9/19/2005 17636<BR/>9/20/2005 17516<BR/>9/21/2005 17664<BR/>9/22/2005 17883<BR/>9/23/2005 18226<BR/>9/24/2005 18204<BR/>9/25/2005 18196<BR/>9/26/2005 18435<BR/>9/27/2005 18483<BR/>9/28/2005 18605<BR/>9/29/2005 18604<BR/>9/30/2005 19192<BR/>10/1/2005 19333<BR/>10/2/2005 19316<BR/>10/3/2005 19362<BR/>10/4/2005 19463<BR/>10/5/2005 19562<BR/>10/6/2005 19670<BR/>10/7/2005 20052<BR/>10/8/2005 20219<BR/>10/9/2005 20153<BR/>10/10/2005 20324<BR/>10/11/2005 20470<BR/>10/12/2005 20668<BR/>10/13/2005 20850<BR/>10/14/2005 21238<BR/>10/15/2005 21446<BR/>10/16/2005 21463<BR/>10/17/2005 21527<BR/>10/18/2005 21588<BR/>10/19/2005 21795<BR/>10/20/2005 21806<BR/>10/21/2005 22302<BR/>10/22/2005 22719<BR/>10/23/2005 22769<BR/>10/24/2005 22806<BR/>10/25/2005 22976<BR/>10/26/2005 23132<BR/>10/27/2005 23293<BR/>10/28/2005 23681<BR/>10/29/2005 23805<BR/>10/30/2005 23816<BR/>10/31/2005 23790<BR/>11/1/2005 23601<BR/>11/2/2005 23665<BR/>11/3/2005 24193<BR/>11/4/2005 24579<BR/>11/5/2005 24786<BR/>11/6/2005 24717<BR/>11/7/2005 24937<BR/>11/8/2005 25244<BR/>11/9/2005 25333<BR/>11/10/2005 25387<BR/>11/11/2005 25700<BR/>11/12/2005 25685<BR/>11/13/2005 25773<BR/>11/14/2005 25945<BR/>11/15/2005 25913<BR/>11/16/2005 25884<BR/>11/17/2005 26261<BR/>11/18/2005 26098<BR/>11/19/2005 26662<BR/>11/20/2005 26688<BR/>11/21/2005 26684<BR/>11/22/2005 26488<BR/>11/23/2005 26776<BR/>11/24/2005 26819<BR/>11/25/2005 26855<BR/>11/26/2005 26871<BR/>11/27/2005 26890<BR/>11/28/2005 26979<BR/>11/29/2005 26811<BR/>11/30/2005 26797<BR/>12/1/2005 26792<BR/>12/2/2005 26915<BR/>12/3/2005 27238<BR/>12/4/2005 27295<BR/>12/5/2005 27356<BR/>12/6/2005 27387<BR/>12/7/2005 27403<BR/>12/8/2005 27367<BR/>12/9/2005 27649<BR/>12/10/2005 27706<BR/>12/11/2005 27664<BR/>12/12/2005 27512<BR/>12/13/2005 27411<BR/>12/14/2005 27566<BR/>12/15/2005 27517<BR/>12/16/2005 27603<BR/>12/17/2005 27791<BR/>12/18/2005 27776<BR/>12/19/2005 27722<BR/>12/20/2005 27604<BR/>12/21/2005 27554<BR/>12/22/2005 27516<BR/>12/23/2005 27486<BR/>12/24/2005 27311<BR/>12/25/2005 27014<BR/>12/26/2005 26810<BR/>12/27/2005 26822<BR/>12/28/2005 26687<BR/>12/29/2005 26649<BR/>12/30/2005 26547<BR/>12/31/2005 26497<BR/>1/1/2006 26462<BR/>1/2/2006 26401<BR/>1/3/2006 26751<BR/>1/4/2006 27403<BR/>1/5/2006 27564<BR/>1/6/2006 28224<BR/>1/7/2006 28337<BR/>1/8/2006 28542<BR/>1/9/2006 28595<BR/>1/10/2006 28786<BR/>1/11/2006 29222<BR/>1/12/2006 29507<BR/>1/13/2006 29689<BR/>1/14/2006 29899<BR/>1/15/2006 30415<BR/>1/16/2006 30391<BR/>1/17/2006 30707<BR/>1/18/2006 30817<BR/>1/19/2006 31085<BR/>1/20/2006 31457<BR/>1/21/2006 31463<BR/>1/22/2006 31497<BR/>1/23/2006 31607<BR/>1/24/2006 31766<BR/>1/25/2006 31830<BR/>1/26/2006 32142<BR/>1/27/2006 32002<BR/>1/28/2006 32477<BR/>1/29/2006 32458<BR/>1/30/2006 32512<BR/><BR/><BR/>flipAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138731028897209642006-01-31T18:10:00.000+00:002006-01-31T18:10:00.000+00:00"The boomers have been the most selfish generation...<I>"The boomers have been the most selfish generation ever. However, their parents were probably the greatest generation."</I><BR/><BR/>Respectfully, I must disagree with you loudly. But I do agree my parents generation was one of the greatest. After all, they saved the free world from the evils of domination by the Axis Powers.<BR/><BR/>I was born in 1945. What most younger people do not understand is that the effects of WW II were still unfolding. One of my earliest memories is of the teenaged son of a neighbor going away to fight in Korea. He was filled with pride drinking beer and bragging about his newly acquired fighting skills. As a machine gunner, he was killed within a few minutes battling Chinese hoardes. His parents never even got to bury his body.<BR/><BR/>Out of a graduating class of over 600, my high school sent about 200 young men to Vietnam. Over 100 were killed in a war the U.S. never should have fought. After all, Ho Chi Min wanted the U.S. to back his revolution but we chose instead to back the French. Major errors in judgment were made by President Lyndon Johnson and his Cabinet.<BR/><BR/>I enrolled in college on a full scholarship for debate and public speaking. But my school was reactivating competitive football.<BR/>My financial aid was changed to a small academic scholarship combinded with student loans. Which meant that I was forced to work my way through school. I went to school full time carrying 16 - 18 units and worked full time in the evening a the Bank of America.<BR/><BR/>Failure and/or cutting back on school was not an option. We had the draft back then. If you dropped out of school or dropped some courses, you were made immediately eligible for military service. Over 200 of the males graduating from college with me in 1967 died in Vietnam. Another 150 were wounded. What a total waste!<BR/><BR/>After I graduated from college and enrolled in an MBA program, my wife and I got married (back then, nobody even considered living together). Within a few months, my wife was pregnant. Again, I was back running a treadmill, working full time and going to college part time.<BR/><BR/>Long story short: After getting a J.D./M.B.A., and working 70 hour weeks for nearly 30 years, now I have a chance at retirement.<BR/>But the corporate world has changed. It no longer is run by 'Boomers' but is dominated by Gen-X-ers. The younger generation has a 'Me-First' attitude. Recall the corporate corruption made famous in the 1990's? Where high executives earned millions in bonuses while mid-level officers slaved for chum change? The Gen-X-ers did that, not the 'Boomers.'<BR/><BR/>The real estate bubble is going to bankrupt people nationally. Most of them will be Gen-X-ers.<BR/>Boomers are falling victim to all sorts of real estate scams as they try to scape together retirement money. Most will work until they die. <BR/><BR/>Millions of Gen-X-ers are chained by debt:<BR/><BR/>http://newspundit.net/americainchains.html<BR/><BR/>You did that to yourselves.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138728994272364942006-01-31T17:36:00.000+00:002006-01-31T17:36:00.000+00:00Hmmm. I'm a boomer and I have no credit card debt....Hmmm. I'm a boomer and I have no credit card debt. Own 1 house and some inherited land in Arkansas. I have not cashed out on the refi of my house. Instead I opted for a 15 year payout. No, I don't live in a McMansion. Yes, I have saved for retirement. Yes, I am appalled at some of the greedy materialism in this country. I don't really blame the X,Y, or B's who are pissed about all of this. I sure am.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138726840787552802006-01-31T17:00:00.000+00:002006-01-31T17:00:00.000+00:00Hey don't worry, Mobil/Exxon and their 36 billion ...Hey don't worry, Mobil/Exxon and their 36 billion dollars in profits will take care of us all!<BR/>The oil companies really suffered with the rest of us...... HA HA HA!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138725221136905782006-01-31T16:33:00.000+00:002006-01-31T16:33:00.000+00:00What rubbish. Boomers aren't responsible for this...What rubbish. Boomers aren't responsible for this. The Yuppies of the 1980s with their hilarious wine and cheese tasting parties created the illusion of attainable aristocracy (many actually bought titles), and their pretentions to wealth and glamour were the beginning of a disaster. These Yuppies then were in their 20s and today are in their 40s. They and their even greedier and more pretentious children are the ones you should be railing against.<BR/><BR/>I suspect many of the bloggers here are from California, especially Northern California, and don't know that the drugged-out hippie movement affected only a tiny percentage of the American population in the '60s and '70s, but that much of that group headed West. So what may appear to have been a huge group in California, was almost nothing elsewhere. Most Boomers were the exact opposite of hippies: conservative, traditional, and many still are.<BR/><BR/>I don't know any wealthy Boomers cashing in on the bubble, and I live in a very expensive neighborhood that was inexpensive before the Yuppies moved in. All I've seen so far are children of the '80s, whatever one calls them, and their pseudo-image obsessed Yuppie parents carrying on as usual.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138723247996076392006-01-31T16:00:00.000+00:002006-01-31T16:00:00.000+00:00Blaming everything on the boomers is a stretch. T...Blaming everything on the boomers is a stretch. They ran up the housing market because many saw thousands of $$ in retirement funds evaporate in the stock market meltdown. Instead of being patient and letting the time value of money work it's magic, they inflated the housing bubble and will now be royally screwed. I think the grand plans of retirement driving big RV's around the country is going to blow away like dust during the dust bowl. Those who can afford RV's after the housing meltdown won't be able or willing ot pay for the gasoline. This might be a good thing considering many campgrounds are shutting down due to development pressures.<BR/><BR/>I'm more worried about the generation Y "consumerism society". People my age who are buying $300k homes and eating ramen noodles and driving Escalades. I'd be really surprised if we could win a defensive war because young people have no understanding of sacrifice. Everyone would be sitting at home with guns protecting their SUVs and HDTV's without regards to the greater security or economy.Wes Dhttps://www.blogger.com/profile/03801362902621931257noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138721039669916992006-01-31T15:23:00.000+00:002006-01-31T15:23:00.000+00:00Trouble is older people are more likely to vote th...Trouble is older people are more likely to vote than the young. They'll keep their stranglehold on the country as long as they can get their little "personal mobility" scooters to the polling booths.lisooshhttps://www.blogger.com/profile/12324023721479597685noreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138718474012043782006-01-31T14:41:00.000+00:002006-01-31T14:41:00.000+00:00I hear Boomers are delicious. Soylent Green, Baby!...I hear Boomers are delicious. Soylent Green, Baby! <B>SOYLENT GREEN!!!</B>Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138718258355843752006-01-31T14:37:00.000+00:002006-01-31T14:37:00.000+00:00I've been waiting for this. I'm sick of hearing ab...I've been waiting for this. I'm sick of hearing about "boomers this... boomers that..." from the media watching their every move, as if they are the rudder of the economy. I think you're right. We'll see more scrutiny of this group and their will be a movement to put it in the past and forget it and look to the future. Goodbye boomers.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138716379373168452006-01-31T14:06:00.000+00:002006-01-31T14:06:00.000+00:00Although a generation X’er myself, I wouldn’t enti...Although a generation X’er myself, I wouldn’t entirely blame the baby boomers for the current economic situation. Some of the financial institutions which contribute to this problem can be traced back to the great depression, others all of the way back to the founding of our nation. The national debt for example: to my knowledge America has never been solvent.<BR/><BR/>I agree with your conclusion, but for a different reason. As baby boomers leave the workforce, there will be a shortage of workers. The principle of supply and demand will drive up the value of labor and drive down the value of wealth. For example, a surplus of old people and a shortage of medical professionals will cause the costs of medical care to sky rocket. Doctors and nurses will get paid more, while patients will receive less care for their money. The same principle will apply in every other career field. This is not a good time to be growing old.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-18675105.post-1138716310289783302006-01-31T14:05:00.000+00:002006-01-31T14:05:00.000+00:00Don't want to pay for Gen X scumbags? Then don't ...Don't want to pay for Gen X scumbags? Then don't work and don't be a slave to the system, that way you don't have to pay taxes! Moving to another country is an option too.Anonymousnoreply@blogger.com