OT: Will Future College Grads Be Prepared?

[flyer]

Agree with everyone’s comments. As mentioned, many do very well after college, as our kids have, and as you’ve said your kids have. Most here would be in the top 20% or higher, so that doesn’t surprise me.

The main issue we’re seeing with kids who have been raised in San Diego, and CA in general, is that they have a difficult time finding the job they want in San Diego or CA, and don’t want to relocate.

That’s what I meant when I said many can’t get the jobs they want, where they want them. BG, you’re kids sound like they are doing great in the Bay Area, but quite a few we know don’t want to go up there due to the cost of living, weather, etc., so, again, they are limited by the choices they are willing to make.

Apparently, many parents are not telling their kids degrees do not come with guarantees, and I won’t even go into how disillusioned they are when they find out they can’t afford homes in the golden state–but we’ve been down that thread before.

[bearishgurl]

[quote=flyer]Agree with everyone’s comments. As mentioned, many do very well after college, as our kids have, and as you’ve said your kids have. Most here would be in the top 20% or higher, so that doesn’t surprise me.

The main issue we’re seeing with kids who have been raised in San Diego, and CA in general, is that they have a difficult time finding the job they want in San Diego or CA, and don’t want to relocate.

That’s what I meant when I said many can’t get the jobs they want, where they want them. BG, you’re kids sound like they are doing great in the Bay Area, but quite a few we know don’t want to go up there due to the cost of living, weather, etc., so, again, they are limited by the choices they are willing to make.

Apparently, many parents are not telling their kids degrees do not come with guarantees, and I won’t even go into how disillusioned they are when they find out they can’t afford homes in the golden state–but we’ve been down that thread before.[/quote]

My youngest would prefer to stay in LA for work after college … preferably their current “stomping ground” which is Pasadena and points east/southeast to the county line. That’s not to say they wouldn’t take a job in an OC financial center mecca (16-25 miles from where they currently reside). The cost of living is far less in the SGV (the lesser-expensive cities) than it is anywhere in the bay-area counties.

I think Gen Y CAN afford a home, even in the bay area … if they have a prospective “buying partner” (preferably spouse), both prospective buyers are working FT in their respective fields and they save as much as possible every month for 2-3 years while they DON’T have any kids. Also, to be able to buy in close-in bay-area counties, many of them need to lower their housing expectations to a 3/2/2 older home. Of course, having a prospective “buying partner” with an outstanding student loan liability is a HUGE deterrent to being able to afford a home.

flyer, a Native San Diegan recent college graduate MUST be willing to relocate if they want to get a chance at making a living wage or better, or, some cases, work in their fields of major at all. If they’re still in their parents back bdrm (for “free” or nearly so) ~3 years after college graduation hanging with their HS homies on weekends and working in a local restaurant/retail, then their parents have been too soft on them, imho.

The millenial recent college grads are still young and can always return to SD County later for a new job after they have amassed a stockpile of cash somewhere else which is cheaper to live in … that is, if they still want to by then.

[flyer]

BG, agree with you that young adults being open to relocation to forward their career is essential, especially if they want to use those very expensive degrees. Ours have, even though they’ve kept property here if/when they want to come back.

Career opportunities in San Diego are very limited for new grads, so many who grew up here may be forced to make some “real life” choices about what they want in life. Hopefully, their parents are cluing them in wrt their options, as they progress toward adulthood.

With the influx of foreign funds, it will be interesting to watch the real estate market here, and in CA in general, going forward. It might prove to be more challenging than ever for those who have not planned well. Guess we’ll have to wait and see.

[scaredyclassic]

I’m extremely interested in what will happen to my kids, but deep down I know it will ultimately primarily be suffering and disappointment, with occasional boredom, same as it has been for all mankind for millenia.

[ltsddd]

[quote=scaredyclassic]I’m extremely interested in what will happen to my kids, but deep down I know it will ultimately primarily be suffering and disappointment, with occasional boredom, same as it has been for all mankind for millenia.[/quote]

That’s how I see things also. It’s pretty much a struggle throughout k-12, then college, then “life”. I am working hard to get out of the rat race and get my life back. But by then there will be new struggles and battles – old age and bad health. Life sucks.

[scaredyclassic]

[quote=ltsdd][quote=scaredyclassic]I’m extremely interested in what will happen to my kids, but deep down I know it will ultimately primarily be suffering and disappointment, with occasional boredom, same as it has been for all mankind for millenia.[/quote]

That’s how I see things also. It’s pretty much a struggle throughout k-12, then college, then “life”. I am working hard to get out of the rat race and get my life back. But by then there will be new struggles and battles – old age and bad health. Life sucks.[/quote]

Well, yeah. But pessimism as a world view can be very liberating.

https://ebooks.adelaide.edu.au/s/schopenhauer/arthur/pessimism/chapter1.html

Perhaps Schopenhauer’s studies in pessimism can help see you through. Chapter 1 above to me is kibd of a hoot, if im in the right mood. Plus, it feels true. So Yeats some consolation. .

[ltsddd]

I find ben stein’s books very therapeutic. specifically these:

Yes, you can retire comfortably &

Yes, you can be a successful income investor

Very little philosophy of life and very much practical and applicable to the conundrum of life.

[scaredyclassic]

[quote=ltsdd]I find ben stein’s books very therapeutic. specifically these:

Yes, you can retire comfortably &

Yes, you can be a successful income investor

Very little philosophy of life and very much practical and applicable to the conundrum of life.[/quote]

Money money money…

[ltsddd]

[quote=scaredyclassic]Money money money…[/quote]

I work all night, I work all day, to pay the bills I have to pay
Ain’t it sad
And still there never seems to be a single penny left for me
That’s too bad
In my dreams I have a plan
…Money, money, money

I love that song.

[no_such_reality]

[quote=scaredyclassic]

Money money money…[/quote]

Money == Liberty

or

Money == Enslavement

you choose one for your relationship with it.

[FlyerInHi]

BG, you’re opposed to any new development in San Diego so that your kids have to look for jobs elsewhere. That’s really smart. One day, you’ll retire out in the woods, and you think that your kids will make the trek to visit you every weekend?

You’re basking in self congratulation for owning a home, but San Diego is becoming so expensive that buyers need money from elsewhere or a trust fund to buy. Even if one has a good job, if you buy at the wrong time and suffer a layoff, you can lose your down payment in a forced sale due to relocation.

Bottom line, we need a large, diversified, globally connected economy, and all the building and bright lights that come with it.

You’re lucky your kids are staying in california, but so many others have to relocate to Dallas, Phoenix, Orlando, etc…. Lots of young people will only have an average paying job. They can’t buy a normal $500k house and make it in Cali. So they will relocate. That’s fine if you believe that normal, but all the california natives who are “priced in”, their kids and grandkids will not be living near them.

[bearishgurl]

[quote=FlyerInHi]BG, you’re opposed to any new development in San Diego so that your kids have to look for jobs elsewhere. That’s really smart. One day, you’ll retire out in the woods, and you think that your kids will make the trek to visit you every weekend?

You’re basking in self congratulation for owning a home, but San Diego is becoming so expensive that buyers need money from elsewhere or a trust fund to buy. Even if one has a good job, if you buy at the wrong time and suffer a layoff, you can lose your down payment in a forced sale due to relocation.

Bottom line, is that we need a large diversified, globally connected economy, and all the building and bright lights that come with it.

You’re lucky your kids are staying in california, but so many others have to relocate to Dallas, Phoenix, Orlando, etc…. Lots of young people will only have an average paying job. They can’t buy a normal $500k house and make it in Cali. So they will relocate. That’s fine if you believe that normal, but all the california natives who are “priced in”, their kids and grandkids will not be living near them.[/quote]

It doesn’t matter what I am opposed to, FIH. The horse sprinted through the open barn door ages ago. SD County is already developed to the max. My kid(s) who are working already make more than the “average” salary. If I should “move to the woods,” I will be 4-6 hours closer to them.

Yes, I do feel it is dicey to take out a large mortgage if any of the borrower(s) jobs are not secure. I didn’t experience that because, except for my last home purchase which I purchased on my own qualifications only, me and my “co-borrower” had very secure jobs to use when applying for the mortgages we took out over the years.

What is wrong with putting $150K – $300K down and just borrowing $300K or less? A working couple in “professional” fields can save this amount of money easily in 2-3 years by living frugally. This CAN BE DONE! One doesn’t have to have a large home, a newer home OR a perfect home for their first home.

Of course, this “savings budget” presupposes that the couple does NOT have any kids or student loans, rents a smallish unit in a cheaper area and drives paid-for vehicles while amassing their downpayment savings.

A millenial can certainly buy a smallish, older cosmetic fixer for their first home. That’s what my generation did. If this is good enough for the goose, its good enough for the gander.

The young college graduates who aren’t making a living wage today either majored in the wrong field in college and/or refuse to relocate out of a lower-paying area for a job, plain and simple.

As to your last (edited in) comment, I don’t mind that my kids have to relocate to make a living wage. This was all known to me that they would have to do this as early as 1990 (before the youngest was even born). It’s okay. I’m originally from the bay area and know my way around, lol. Their dad is a Native San Diegan with close relatives in San Jose and Castro Valley who have lived there since the early-mid ’60’s.

It’s all good :=)

[NotCranky]

Look at how comfortable we seem to be selling pipe dreams to our kids though.
Dreams of going to college(expensive and time consuming) and moving from friends and family and community for work that maybe pays a little better …but they might get a house, with the right future part time parent buying partner. That’s fine, but I bet it isn’t for a lot of kids(people) even if from “good” families. THe way you paint it BG, I hope almost everyone fails to launch , for their own sake.

Some people need to have different priorities than all that, even if the end looking under achiever instead of a degreed cubicle rat. Heaven forbid , our kids look a little like underachieving artist types or “only a fireman” or something like that. I just tell mine that if you want to make your hobbies your priority , you might have to learn to live on little means, but you have to take care of yourself. There are no guarantees either way.

[bearishgurl]

[quote=Blogstar]Look at how comfortable we seem to be selling pipe dreams to our kids though.
Dreams of going to college(expensive and time consuming) and moving from friends and family and community for work that maybe pays a little better …but they might get a house, with the right future part time parent buying partner. That’s fine, but I bet it isn’t for a lot of kids(people) even if from “good” families. THe way you paint it BG, I hope almost everyone fails to launch , for their own sake.

Some people need to have different priorities than all that, even if the end looking under achiever instead of a degreed cubicle rat. Heaven forbid , our kids look a little like underachieving artist types or “only a fireman” or something like that. I just tell mine that if you want to make your hobbies your priority , you might have to learn to live on little means, but you have to take care of yourself. There are no guarantees either way.[/quote]

Russ, I didn’t need to “sell” any “pipe dreams” to any of my kids. They’ve got eyes and ears. While in HS, they could easily see how well the twenty-something siblings of their HS friends who were still living at “home” were doing, while trying to pretend to be serious about attending CC taking 1-2 classes at a time into perpetuity and working at Roberto’s Taco Shack slash/ partying on the weekends with their HS homies who elected to stay behind at the family homestead after HS. Several of them were parents at the age of 19 and again at 21 and 23 years old …. unmarried, of course and still living with mom and/or dad.

I hope things work out for your kids if they elect not to attend college. If they stay in the homestead after HS, at the very least they should check into ROP programs at your nearby Cuyamaca College. All the CA CC’s are now ramping up ROP programs at the expense of class selection for prospective university transfer students. Some of those trades (HVAC for one) start at $30-$35 hr for a journeyman (new ROP graduate). Just a suggestion, FWIW ….

[FlyerInHi]

BG, I know you’re strong. And it can be can be done and will be done by some. But not by everyone. (BTW, that’s why I believe the Hispanics are harder workers than their native white counterparts. They are making It work in Cali while the other guys relocate to Colorado Springs).

But shouldn’t we try to build an economy that works for everyone?

I mean look at Santa Barbara, it’s all quaint and all… The priced in natives can pat themselves on the back for buying 40 years ago. But will their kids find a job in the area, even if they go to college? Maybe they’d have better luck working in a hotel.

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