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Boomer End of Line: Reverse Mortgages on the Rise
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Date: March 17th, 2014 6:42 PM Author: Emerald hospital famous landscape painting You millennial faggots will take nothing from us.
http://www.cnbc.com/id/101500872 |
Date: March 17th, 2014 6:44 PM Author: Pungent motley son of senegal my grandparents have one and my parents have already told me they're getting one next year. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25208629) |
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Date: March 17th, 2014 6:48 PM Author: Boyish topaz weed whacker how do they work? (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25208646) |
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Date: March 17th, 2014 6:53 PM Author: Aromatic embarrassed to the bone goal in life french chef They buy your mortgage and basically pay you an annuity/income stream from your equity. It's like reaping profits from selling your house little by little. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25208668) |
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Date: March 17th, 2014 6:54 PM Author: Pungent motley son of senegal (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25208673) |
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Date: March 17th, 2014 6:53 PM Author: Emerald hospital famous landscape painting Your parents buy a house. Your parents take out a loan for the value of the house. The loan is repaid when the house is sold. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25208670) |
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Date: March 17th, 2014 6:55 PM Author: startled ocher shrine patrolman or the boomer is det, more likely (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25208676) |
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Date: March 17th, 2014 6:55 PM Author: Pungent motley son of senegal boomer dies, house is sold, bank get the proceeds, kids get nothing (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25208677) |
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Date: March 17th, 2014 6:56 PM Author: startled ocher shrine patrolman world turns (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25208682) |
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Date: March 17th, 2014 6:57 PM Author: Emerald hospital famous landscape painting (Old Time Rock 'n Rolls comes on) (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25208688) |
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Date: March 17th, 2014 6:58 PM Author: frisky telephone spot LOL (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25208691) |
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Date: March 17th, 2014 7:00 PM Author: startled ocher shrine patrolman *Boomers shuffle their feet and snap their fingers while keeping their elbows locked at 90 degree angle* (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25208698) |
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Date: March 17th, 2014 8:00 PM Author: duck-like base candlestick maker #booming (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209036) |
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Date: March 17th, 2014 8:33 PM Author: Emerald hospital famous landscape painting (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209198) |
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Date: March 17th, 2014 6:53 PM Author: Pungent motley son of senegal http://home.howstuffworks.com/real-estate/reverse-mortgages.htm/printable (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25208671) |
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Date: March 17th, 2014 6:54 PM Author: startled ocher shrine patrolman Essentially, boomers give up the equity in their home for a cash lump sum. When the boomer dies, the property is turned over to the bank/lender unless the millennial heirs can put up the money to refinance it.
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Date: March 17th, 2014 7:01 PM Author: odious rebellious idea he suggested Selling the house to the bank while you live in it, receiving payment installments from the bank. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25208699) |
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Date: March 17th, 2014 8:39 PM Author: Canary Digit Ratio Party Of The First Part the other explanation itt have failed to note the massive costs of this bullshit idea. they rape the shit out of you way worse than a regular mortgage. a reverse mortgage might keep your parents out of the gutter but if they take one you should expect to inherit nothing. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209216) |
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Date: March 17th, 2014 8:40 PM Author: razzle frozen hell gunner what should boomers care? They can live their lives in their homes and get cash for it. Money for nothing and your kids get fucked. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209222) |
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Date: March 17th, 2014 8:43 PM Author: Canary Digit Ratio Party Of The First Part well, yeah. it's the voice of a whole generation. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209239) |
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Date: March 17th, 2014 6:52 PM Author: startled ocher shrine patrolman Does anyone actually expect an inheritance from shitboomers?
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Date: March 17th, 2014 6:52 PM Author: Aphrodisiac Roommate cq (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25208667) |
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Date: March 17th, 2014 8:42 PM Author: Canary Digit Ratio Party Of The First Part my parents aren't rich but they aren't shitbag spendthrifts intent on #booming. so i expect a modest inheritance. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209230) |
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Date: March 17th, 2014 9:11 PM Author: lake stimulating rehab jewess Yeah, I'll probably get a mil or two. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209388) |
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Date: March 17th, 2014 7:09 PM Author: Spruce Resort Like Social Security, boomer inheritance will not exist for millennials. Remember in Independence Day in Area 51 when the alien grabbed Bill Pullman and Bill Pullman saw its thoughts? Similarly, boomers are locusts. They move from one planet to another, consuming all natural resources, before leaving a dead empty shell. Nuke em. Nuke the bastards. |
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Date: March 17th, 2014 7:14 PM Author: Emerald hospital famous landscape painting (Wild Wild West, Jim West, Desperado, No you don't want nada, none of this six gunnin' this) (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25208761) |
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Date: March 17th, 2014 7:16 PM Author: bossy snowy address "releaaaaaaaaasssseeee meeeeeeeeeee..." (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25208778) |
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Date: March 17th, 2014 7:42 PM Author: Internet-worthy Boltzmann Sixty percent of boomers have less than $100,000 in retirement savings.
How is that possible??? |
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Date: March 17th, 2014 7:43 PM Author: Aphrodisiac Roommate lost it all in tech stocks 15 yrs ago (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25208947) |
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Date: March 17th, 2014 7:43 PM Author: Internet-worthy Boltzmann i wonder what it feels like to lose more than 10% of net worth.
i didn't have money until 2008. |
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Date: March 17th, 2014 8:09 PM Author: Emerald hospital famous landscape painting Well, I would say all millennials lost more than 10% net worth because of the inability to obtain a job for 12+ months in ITE (permanent, long-term reduced wages). (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209079) |
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Date: March 17th, 2014 7:43 PM Author: puce swashbuckling fortuitous meteor marketing idea then housing collapse + financial crisis
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Date: March 17th, 2014 8:20 PM Author: razzle-dazzle becky None of that shit is an excuse for boomers. Stocks rebounded from the tech burst long ago and the boomers all bought their houses for $30-50k. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209130) |
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Date: March 17th, 2014 9:14 PM Author: puce swashbuckling fortuitous meteor marketing idea true but these are also the kinds of boomers who will do shit like buy stocks that have no earnings that go bankrupt and buy some third home McMansion as an "investment" for 2x what price it should be with a 10% ARM 0 down mortgage or something.
it really is comical sometimes how much debt they use and how much money they waste. |
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Date: March 18th, 2014 4:07 AM Author: Onyx Step-uncle's House that idiot generation bankrupted themselves on their own. without either of these, they would still basically be in the same place. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25211775) |
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Date: March 17th, 2014 7:43 PM Author: Boyish topaz weed whacker Jimmy Buffet tickets go for a premium man (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25208953) |
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Date: March 17th, 2014 7:53 PM Author: Spruce Resort Imagine Diesel but with a Viagra scrip, diabetes, and high blood pressure (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209000) |
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Date: March 17th, 2014 7:58 PM Author: razzle frozen hell gunner imagine how much worse millenials will be.
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Date: March 17th, 2014 8:10 PM Author: Internet-worthy Boltzmann how are millenials so bad? (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209085) |
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Date: March 17th, 2014 8:11 PM Author: Emerald hospital famous landscape painting Permanent, long-term reduced wages (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209092) |
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Date: March 17th, 2014 8:19 PM Author: razzle frozen hell gunner like boomer parasites but without even the opportunity to amass the wealth to squander and lose.
Might as well just create a special welfare class for the generation to break rocks for food and smart phone rations. |
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Date: March 17th, 2014 8:39 PM Author: Diverse Partner Rigpig This is the thing that gets me about millennials (especially as embodied in the xo millennial anti-boomer ethos): all the selfishness of stereotypical boomers, with none of expectation that such selfishness even *should* be justified through "earning" or "work" (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209215) |
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Date: March 17th, 2014 8:42 PM Author: razzle frozen hell gunner there really are no fucking jobs for people under 30 who did not get lucky or strive like fuck in college. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209229) |
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Date: March 17th, 2014 8:48 PM Author: Diverse Partner Rigpig I'm not saying things are rosy for millennials. They aren't. But that doesn't make millennials unique. You can look at a lot of shitty economic periods that this massive cohort known has "boomers" had to go through. Hell, the entire 70s were pretty shitty in economic terms, and home mortgages were at 14% in the 80s.
I realize it's asking a lot for people in their 20s to understand that dealing with shitty economics now doesn't mean they will have a shitty life, but it's annoying as hell to hear them act like (a) that's true, and (b) they are unique in their having to suffer through shitty jobs in their 20s. |
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Date: March 17th, 2014 8:49 PM Author: Emerald hospital famous landscape painting I don't think I've heard a millennial claim they are unique in a long time. I think that's boomer indoctrination and dogma talking there. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209270) |
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Date: March 17th, 2014 9:01 PM Author: Diverse Partner Rigpig Just the notion that boomers or others don't understand their plight or didn't have to suffer the same kind of setbacks.
It never seems like a "yup, life gives you lemons sometimes" kind of tone, but a "someone in your situation couldn't even understand how sour my lemons are" kind of tone. |
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Date: March 17th, 2014 9:00 PM Author: razzle frozen hell gunner BOomers had some tough times mixed in with the booming economy, but they never had to deal with outrageous educational expenses and they experience absurd real estate inflation that will never be repeated.
Middle class boomer homes are now upper middle class for new buyers and the current middle class cannot afford a home in a decent area period. |
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Date: March 17th, 2014 9:04 PM Author: Diverse Partner Rigpig The percentage of boomers who actually went to college, though, was quite low compared to today. Boomers are the primary cohort that got fucked by the rustbelt, offshoring phenomenon of the late 20th century.
It's probably a reflection of the upper middle class upbringing that a lot of xo shitmillennials had that they associate boomers with people who didn't get fucked by the economy. |
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Date: March 17th, 2014 9:08 PM Author: razzle frozen hell gunner maybe a more apt statement would be that poors were always poor and will always be poor, and get fucked by shitty economies. They will always struggle and depend on various hand outs to feed their spawn.
I think it is reasonable to say though that millenials that grew up upper middle class are the first group that, despite the educational access and advantages of being raised without want, will be fucked themselves and unable to have careers or ever buy a house outside of the ghetto. Boomers who grew up in fairly well off families remained well off. Same cant be said for millenials unless their families are more than just well off. |
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Date: March 17th, 2014 9:12 PM Author: Diverse Partner Rigpig I don't believe that millennials will be fucked and unable to have careers or ever buy a house outside of the ghetto.
I mean, I'm sure that's true of some, but only those who are shitty at stuff anyway.
There is no good reason to think that people who haven't even been working for 10 years can realistically evaluate what the rest of their lives and careers will be like.
If they give up, they'll be shitty. Just like every generation before them. |
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Date: March 17th, 2014 9:20 PM Author: razzle frozen hell gunner except they *havent* been working for 10 years which is the problem.
What path do you see that some person who graduated from college in 2010 and has not been able to get a non-service industry job will EVER be able to afford a house? |
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Date: March 17th, 2014 9:39 PM Author: Diverse Partner Rigpig Learn the service business and take on more responsibility. Get a loan and start his or her own service business. Expand.
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Date: March 17th, 2014 9:53 PM Author: razzle frozen hell gunner come on brother. At least people in prior generations had shitty white collar entry level jobs they could strive in.
doesn't matter how expert you are at being a barista, you will never make enough money doing that.
Get a loan? lol come on. |
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Date: March 17th, 2014 10:53 PM Author: Diverse Partner Rigpig I'm helping some friends do that very thing right now. You don't think coffee stands make money? (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25210063) |
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Date: March 18th, 2014 4:13 AM Author: Floppy indian lodge depressive You realize the mili-fucking-second someone does that -- ignoring the 10000 other problems -- they are now shut out of white collar jobs because corps and firms see them as "risky" and there are 10,000 other applicants of people who are groomed specifically for the job and never stepped even a pinky toe off the path that gets them into a white collar life? (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25211787) |
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Date: March 17th, 2014 10:58 PM Author: 180 cuckold mood shut the fuck up you cretin. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25210095) |
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Date: March 18th, 2014 4:11 AM Author: Onyx Step-uncle's House "Just get a loan and start a business, bro! NBD!"
That is so fucking unrealistic for at least 99% of America. |
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Date: March 17th, 2014 9:11 PM Author: Canary Digit Ratio Party Of The First Part Jesus H. Christ.
See this: http://www.wolframalpha.com/input/?i=DJIA+1980-2013
Then eat a dick for your shitboomer overlords. |
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Date: March 17th, 2014 9:15 PM Author: Diverse Partner Rigpig If you have a point, you're going to have to make it more explicitly.
The stock market has risen greatly, with some significant setbacks, in the last 35 years. That's not news.
Are you suggesting that only boomers are reaping the benefit of public debt? I don't think that's true, although I do think you are right that they are reaping a disproportionate benefit (as olds have for a long time). |
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Date: March 17th, 2014 9:19 PM Author: Canary Digit Ratio Party Of The First Part They experienced a fantastic investing environment during their peak earning years. So boomer failure to save properly for retirement is entirely the fault of boomers. all they had to do was sock away 10% and they'd have a reasonable amount to retire. But they didn't. They voted themselves low taxes and ever-higher deficits to turbocharge their shitbooming, and they underfunded the national pension system (and promptly spent the insufficient amount they "saved") despite the fact that, you know, there's a population BOOM of retirees coming down the pike.
tl;dr fuck boomers. |
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Date: March 17th, 2014 10:52 PM Author: Diverse Partner Rigpig Exhibit A in support of the argument that some adversity at the start of your working life doesn't necessarily mean you'll be financially fucked for life. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25210058) |
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Date: March 17th, 2014 11:03 PM Author: 180 cuckold mood i think you should kill yourself. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25210140) |
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Date: March 18th, 2014 3:12 AM Author: Diverse Partner Rigpig I think you're a poor source of advice (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25211668) |
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Date: March 18th, 2014 4:19 AM Author: Onyx Step-uncle's House basically, through the national debt, they figured out a way to borrow against future generations. they are enslaving us, and it will continue after their deaths. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25211799) |
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Date: March 17th, 2014 10:51 PM Author: Vivacious center We have to pay for grad school, they had to pay 7-15% interest on mortgages.
The interesting thing is that the earliest members of each generation do the best. The early boomers ('45-'50) did awesome. The early millenials ('80-'85) were able to get degrees at about half the cost of later millenials and get jobs before ITE. |
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Date: March 17th, 2014 8:11 PM Author: Emerald hospital famous landscape painting Fuck man, I already have $100,000 saved and I have only been in the market for a few years. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209089) |
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Date: March 17th, 2014 8:12 PM Author: Pungent motley son of senegal (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209095) |
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Date: March 17th, 2014 8:47 PM Author: Canary Digit Ratio Party Of The First Part most of them never started saving to begin with. like locusts, they just move on to the next field (generation) to pillage. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209259) |
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Date: March 17th, 2014 8:51 PM Author: startling pit A lot of them have retirement plans. Those used to exist. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209276) |
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Date: March 17th, 2014 8:52 PM Author: Emerald hospital famous landscape painting "Pensions" (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209279) |
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Date: March 17th, 2014 8:53 PM Author: Canary Digit Ratio Party Of The First Part those haven't existed en mass for a long time. most boomers missed the boat on that, which is why they turned to systematically pillaging the public coffers. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209283) |
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Date: March 17th, 2014 8:42 PM Author: mildly autistic hall stain *Boomer chopper pulling out of Saigon* millennials: 'HELP US!' *Boomers piss on our heads from chopper* |
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Date: March 17th, 2014 8:45 PM Author: Emerald hospital famous landscape painting Gen X stud busts out portable mini, downs helicopter, slaughters millennial scum, takes supplies, and ventures to enemy lines. (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209250) |
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Date: March 17th, 2014 8:46 PM Author: mildly autistic hall stain #flannel (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25209253) |
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Date: October 10th, 2020 10:02 AM Author: overrated casino private investor (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#41085229) |
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Date: March 17th, 2014 8:53 PM Author: purple pozpig associate Boomers will suck all the marrow out of the world before they perish from this earth. Those parasites can't stop running up debt while killing the foundation for future economic growth to pay it off in the future.
Millennials deserve their European fate of no economic future for supporting the Boomer-loving social justice community organizer in chief.
Look at the world Boomers have created. Millions of kids are born bastards. The economy isn't growing. The family is disintegrating because shitlib Boomers won't advocate loudly for the values they practice privately.
Boomers are the plague that has yet to pass. |
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Date: March 17th, 2014 9:02 PM Author: Sickened parlour ITT: people unloved by their families
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Date: March 18th, 2014 3:19 AM Author: Fantasy-prone spectacular space (http://www.autoadmit.com/thread.php?thread_id=2520464&forum_id=2#25211673) |