Younger workers everywhere

[FlyerInHi]

BG, why do you insist on nationwide coverage and PPO. Maybe you ask a bit much?

[scaredyclassic]

Thailand.

Really good care.

Prices you can pay.

[FlyerInHi]

[quote=yamashi1] what type of real estate are you into?[/quote]

Mostly residential. My brother and I have 1 commercial property.

It’s a lot of work to find the right places to buy. Then you have to remodel to get superior tenants… Advertise, manage the properties, etc… it’s a job.

You can do it the old-fashioned ways: pay the “normal” prices, then use the established contracting and realty services… but your returns will be commensurate.

About boomers… in the last decades they rode consumer growth, economic growth, population growth to asset riches.. but they didn’t really do anything special. But they think they are special. They just had to buy and hold. And people who did that hold the wealth.

Now, we have slower growth than in the past and more competition from abroad and from well-qualified immigrants. It’s a different world where more creativity is required.

[The-Shoveler]

[quote=FlyerInHi]
About boomers… in the last decades they rode consumer growth, economic growth, population growth to asset riches.. but they didn’t really do anything special. [/quote]

I disagree, there would not be smartphones or the internet and many other things millennials think only they understand if it were not for boomers.

I also think the next 20 years will have even more opportunities for the USA then there was in the last 50 you just have to grab it when it presents itself.

Someone needs to build the next housing boom for instance (were not all going to fit in what currently exists LOL).

[FlyerInHi]

Shoveler, sure, boomers innovated… but silicon valley was niche for a long time.

I was generalizing about the boomer generation, about economic growth at 5% and greater (i think in 50s and 60s) for the boomers. The middle-class used to pay 2X annual income for a house.

It’s almost 10 years now since the great recession of 2008 (and housing crash began to take shape in 2006). Millenials are enduring slower growth.

Sure, smart people will do very well. The whole generation…. not so much.

About riding the wave, in China (or Asia in general) boomers did even better, compared to where they started. People who owned land are now millionaires because of fast economic growth. Millenials, however, are having the pay some the highest real estate prices in the world (relative to income for sure).

[millennial]

[quote=Clifford][quote=moneymaker]I’ve noticed lately that Home Depot, Kohl’s, among others have a lot of young workers. Is it just me getting old or have others noticed the work force getting younger?[/quote]

That is because most millenials are having a hard time finding jobs with their degrees. So, they ended up taking retail jobs.[/quote]

Yes I agree, there are a glut of educated millenials who are unable to find jobs, or are stuck in middle manager positions with limited opportunities to move up. Unfortunately, with the last downturn, many boomers are unable to retire on their savings and are now working many more years than expected. This has led to the older millenials being stuck in entry to middle management jobs and the newer graduates not even being able to get anything other than retail/insurance/realtor jobs. The few that have been able to find something have done so through networking, being smarter than 95% of the rest of the population, or by starting their own businesses. It is a tough time right now to be entering the workplace.

[millennial]

[quote=FlyerInHi][quote=yamashi1] what type of real estate are you into?[/quote]

Mostly residential. My brother and I have 1 commercial property.

It’s a lot of work to find the right places to buy. Then you have to remodel to get superior tenants… Advertise, manage the properties, etc… it’s a job.

You can do it the old-fashioned ways: pay the “normal” prices, then use the established contracting and realty services… but your returns will be commensurate.

About boomers… in the last decades they rode consumer growth, economic growth, population growth to asset riches.. but they didn’t really do anything special. But they think they are special. They just had to buy and hold. And people who did that hold the wealth.

Now, we have slower growth than in the past and more competition from abroad and from well-qualified immigrants. It’s a different world where more creativity is required.[/quote]

Thanks for sharing FlyerHi! I understand all of the work involved with residential, so I decided to stay away. I understand it can be a ton of work in order to get the returns; unfortunately don’t have the time now, but maybe something that I can do in the future.

Agree with the boomer comment. After we won WWII, America has had the luxury of a large expansionary economy with a large middle class and sole super power status. Since then, the rest of the world has caught up and we are forced to compete with many more intelligent, and hard-working individuals/companies from other parts of the world. This was definitely felt while I was growing up in the 80’s outside Detroit, where it seemed that the loss of the “sole superpower” status was threatened by the Japanese. No longer were American sub-par automobiles the only car people needed to buy as more affordable and longer lasting Japanese cars flooded the markets. Millenials have learned that to compete we need to stay innovative and continue to remain creative in how we think. We live in a time where we are competing against other people from Asia, South America, Canada, and Europe for admittance into the same schools; to be hired by the same jobs; and to buy the same houses. We have learned that the only differentiator as an American is our ability to remain creative, and to think on our feet. The days of the majority of Americans able to get into top tier schools, then graduate and find a middle class job, buy a decent home on one salary, retire at age 65, and collect a pension and social security and ride off into the sunset are gone. Unfortunately, the ones that either cannot find a way to be productive or are inflexible have been hit the hardest and will be left behind.

[The-Shoveler]

LOL you should have been around in the late 70’s and early 80’s trying to get ahead LOL!!! LOL!!!!

I will give you a hint, no boomers were driving BMW’s etc…

[millennial]

[quote=The-Shoveler]LOL you should have been around in the late 70’s and early 80’s trying to get ahead LOL!!! LOL!!!![/quote]

Please expand on how it was? I was a kid in the 80’s, so I don’t know how it was. Was it nearly impossible for people to get into top tier schools, or Ivy Leagues for that matter? Was their more intense global competition? I’m sure there was some things that affected your generation negatively, just as mine. I’m not saying your generation was a walk in the park. What I am saying is that my generation had to continue to adapt, just as you did from the generation prior, and my children will need to again. Looking back at history, personally I think that the golden age for US was after WWII which led to the baby boomers and the country has been in a decline since…or the world has caught up.

[The-Shoveler]

You would have had to be there but it was REALLY BAD.

Japan was eating the world like godzilla!!

Right now reminds me very much of the eighties, IMO the next 10 years will be a repeat of the late 80’s but that is just MO.

For those who want to work hard there will be plenty of opportunity IMO.

[millennial]

[quote=The-Shoveler]You would have had to be there but it was REALLY BAD.

Japan was eating the world like godzilla!![/quote]

I told you that I remember that. Maybe where you were you felt it when they came over and bought everything up and jacked up property values. Personally I felt it growing up outside Detroit as it was hitting the bottom lines of the big 4 auto firms and union workers were leaving places like Detroit and Flint in droves. This being said, now it’s not just Japan but the rest of the world. When I bought my house, I had to compete against cash buyers from Korea, China, South America, Mexico and Canada. This was on top of other upper middle class Americans, and probably some private equity. When I applied for school, I had to compete against others from England, Spain, Korea, Japan, and China and this was in the 90’s. I can only imagine what it would take to get into a Yale, Harvard or even a Berkley now, but I bet it is many times harder than the 70’s/80’s.

[The-Shoveler]

If you say so LOL.

I think many boomers who lived and worked during that time would not agree.

It was a really tough time.

[millennial]

[quote=The-Shoveler]Right now reminds me very much of the eighties, IMO the next 10 years will be a repeat of the late 80’s but that is just MO.

For those who want to work hard there will be plenty of opportunity IMO.[/quote]

I guess time will tell, but IMO I feel globalization will only continue to increase with improvements in tech. In addition, when you say “work hard” I think they will also need to “work smarter”, as hard workers are everywhere. Hard workers are aplenty, and cheap.

[The-Shoveler]

The term Work smarter was invented in the mid 80’s

[FlyerInHi]

[quote=The-Shoveler]The term Work smarter was invented in the mid 80’s[/quote]

By tech workers who wanted to work in shorts and tshirts.

The boomer establishment (eg. IBM) was very much old school.

[Author]

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