Anybody Buying Yet? Where’s the Bottom?

[NDGuy]

a lot of years to get past 80k a year salary. That is the world we live in now.

80k isn't much in most cities. Not when houses cost 500k+

 

[longbow51]

Trying to! About 7 empty positions we are trying to fill.

The person who was unhappy started right out of college in August of 2020 at $46,950 and now will be making $68,350 starting July 1, 2022. Not quite 2 years and they are up $21,400 for an increase of 45.5%. We were a bit low on our beginning salary and have raised that to $53,950 now, but still they are up $14,400 over that with just 2 years experience.

We pay bonuses too! LOL.

I read an article not too long ago that reported that based on a poll of college students, the majority of them expected to make more than $100,000 as their starting salary right out of college.

We are working hard to find qualified entry level employees across the CPA profession.

You know, we would love to spend Dec, Jan, Feb, and March in Lubbock. Both Tech Grads (me twice) and everything. Don't have a Series 7 license though. Does experience count?

 

[longbow51]

Was offered a coaching/teaching position in the late 70's for 7800/year. The bonus was teaching driver's ed in the summer for something like 1200 bucks.

So construction it was...

Should have stuck with teaching. Look at that POS house you live in and the single Savage rifle and Wally's World scope you have managed to acquire

 

[Beanland_fan]

Engineers in ‘10 asked for $50k/yr. coming out of school. Engineers in ‘22 are asking for $80k/yr.

Just from my experience hiring them.

Dead on. Civils are now starting at 65k. everyone else is 75-80.... computer engineering and cybersecurity is the hot market

 

[Buffs35]

80k isn't much in most cities. Not when houses cost 500k+

Housing expectations are a funny thing. I worked for 10 years before buying a house over 500k in Denver. I now have two associate attorneys that are less than 4 years out of law school, both have houses more expensive than mine. To each their own, but the younger generation expects their parent's standard of living without putting in the three decades of work first.

 

[Flatrock]

Engineers in ‘10 asked for $50k/yr. coming out of school. Engineers in ‘22 are asking for $80k/yr.

Just from my experience hiring them.

Bout a 4% increase per year. Doesn't seem out of line.

 

[NDGuy]

Housing expectations are a funny thing. I worked for 10 years before buying a house over 500k in Denver. I now have two associate attorneys that are less than 4 years out of law school, both have houses more expensive than mine. To each their own, but the younger generation expects their parent's standard of living without putting in the three decades of work first.

Lots of our grandparents and even our parents made a damn fine living on 1 income as well.

Costs of living have far exceeded wages over the last 30 years.

 

[rogerthat]

Lots of our grandparents and even our parents made a damn fine living on 1 income as well.

Costs of living have far exceeded wages over the last 30 years.

Or has the American dream expanded? I can say for my family, all my siblings and I have it financially way easier than my parents. Heck most kids have iphones. 3000 square foot homes are the norm. I grew up in a trailer house with 3 siblings.

Baring down to make ends meat ain’t a bad thing. Everyone wants it easy now a days. Overcoming obstacles in life are what makes you confident you can tackle life’s challenges. To me it seems like we are forgetting that in society nowadays. It’s an instant gratification world out there.

 

[NDGuy]

It’s an instant gratification world out there.

Yep because everything is financed, and people live by making payments

 

[noharleyyet]

Buy Now Pay Later....the hook

 

[KB_]

Yep because everything is financed, and people live by making payments

You aint kidding about that. I have a feeling a lot of people dont put more then 8% into their 401k either. Likely some dont put anything into it. That 90k f350 has a hell of a monthly payment.

I am very frugal. My wife on the other hand is not which is a pain. Her and my daughter like to say mom works for target money.

I do play in the crypto market on the off chance that in 10 years ill be a multi millionaire cause i forgot about all the crypto I had lol. We'll see.

 

[NDGuy]

You aint kidding about that. I have a feeling a lot of people dont put more then 8% into their 401k either. Likely some dont put anything into it. That 90k f350 has a hell of a monthly payment.

I am very frugal. My wife on the other hand is not which is a pain. Her and my daughter like to say mom works for target money.

I do play in the crypto market on the off chance that in 10 years ill be a multi millionaire cause i forgot about all the crypto I had lol. We'll see.

I put 15% and my company matches 50% so gonna just keep grinding. Should be able to max it out after my daughter is in school fall 2023.

 

[SAJ-99]

Lots of our grandparents and even our parents made a damn fine living on 1 income as well.

Costs of living have far exceeded wages over the last 30 years.

True, and the size of our homes have increased, as have the number of our discretionary “wants”. You want to live on one income, you have to sacrifice, like earlier generations.

 

[Sytes]

I don't recall nor did I know my grandparents financial setting though it was a one person income after both wrapped up Navy time (she was an aircraft mechanic - WAVES).
When they married and both parted from the Navy, he went on to work Kodak in Rochester, NY. Family began and moved to S. California orange fields (no longer). Woodland Hills area.
My impression, w/ three kids in their teens when they moved they were solid financially. Debt was not an issue, including their house.

Now? Two member income.… ? Debts are the value card(s) in a two person's "wallet".

Debt college, debt massive house of unused space though socially desired, new vehicles, toys, etc...

Today's $ is crafted around two people paying into the system. The $ is the same, the value of that $ is the inflated currency.

I used to keep pennies, nickels, and dimes. Now? I care not for quarters.

Commercial interests have inflated and driven a desire towards materialism x's 2 + debt levels considered socially tolerable.

 

[KB_]

Well now I'm depressed. Guess ill go buy that 90k truck now.

 

[NDGuy]

I don't recall nor did I know my grandparents financial setting though it was a one person income after both wrapped up Navy time (she was an aircraft mechanic - WAVES).
When they married and both parted from the Navy, he went on to work Kodak in Rochester, NY. Family began and moved to S. California orange fields (no longer). Woodland Hills area.
My impression, w/ three kids in their teens when they moved they were solid financially. Debt was not an issue, including their house.

Now? Two member income.… ? Debts are the value card(s) in a two person's "wallet".

Debt college, debt massive house of unused space though socially desired, new vehicles, toys, etc...

Today's $ is crafted around two people paying into the system. The $ is the same, the value of that $ is the inflated currency.

I used to keep pennies, nickels, and dimes. Now? I care not for quarters.

Commercial interests have inflated and driven a desire towards materialism x's 2 + debt levels considered socially tolerable.

100%

 

[Deleted member 28227]

Or has the American dream expanded? I can say for my family, all my siblings and I have it financially way easier than my parents. Heck most kids have iphones. 3000 square foot homes are the norm. I grew up in a trailer house with 3 siblings.

Baring down to make ends meat ain’t a bad thing. Everyone wants it easy now a days. Overcoming obstacles in life are what makes you confident you can tackle life’s challenges. To me it seems like we are forgetting that in society nowadays. It’s an instant gratification world out there.

Or...

Remember when Teddy R broke up Standard Oil? So here are all the Public E&P OG Companies...



and Tech...

Apple = 2.37T
Alphabet = 1.57T
Microsoft= 2.00T
Amazon = 1.18T

Love the narrative about how literally 100's of companies are colluding for gas prices though...

The entire global industry... so Saudi/Russia etc.


So 4 Tech companies are currently as big as the entire worldwide projected OG industry 3 years from now

 

[SAJ-99]

Or...

Remember when Teddy R broke up Standard Oil? So here are all the Public E&P OG Companies...

View attachment 229008

and Tech...

Apple = 2.37T
Alphabet = 1.57T
Microsoft= 2.00T
Amazon = 1.18T

Love the narrative about how literally 100's of companies are colluding for gas prices though...

The entire global industry... so Saudi/Russia etc.
View attachment 229011

So 4 Tech companies are currently as big as the entire worldwide projected OG industry 3 years from now

No one is colluding on gas prices. They just think that narrative sells to voters. I heard of some ridiculous tweet from POTUS that the companies should just pass through the fuel at cost. As ridiculous as that thread seems, I have followed the “what are you paying for gas thread” and can confirm that 75% of the population has no effing clue how the O&G market works.

 

[SAJ-99]

Commercial interests have inflated and driven a desire towards materialism x's 2 + debt levels considered socially tolerable.

Only thing I take exception to is the blanket phrase “commercial interest”. We the people eagerly accepted the concept. Boomers were huge spenders in their prime earning years and loved credit. Politicians use that to their advantage - example is talk of growth in economic recovery being less than historical, so you know, cut taxes, or whatever. We are our own worst enemy, and we love to pass blame to others. Quite the conundrum.

 

[BigHornRam]

Only thing I take exception to is the blanket phrase “commercial interest”. We the people eagerly accepted the concept. Boomers were huge spenders in their prime earning years and loved credit. Politicians use that to their advantage - example is talk of growth in economic recovery being less than historical, so you know, cut taxes, or whatever. We are our own worst enemy, and we love to pass blame to others. Quite the conundrum.

"We have met the enemy, and they is us."