Fragments of an avotoast anthropology

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nicole
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Fragments of an avotoast anthropology

Post by nicole » 16 May 2017, 15:08

A thread for millennial lifestyles
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nicole
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Re: Fragments of an avotoast anthropology

Post by nicole » 16 May 2017, 15:11

Millennials: too stupid to find a roommate
Numerous startup companies, including WeWork Cos., have launched apartment-sharing businesses that rent out individual rooms rather than entire apartments.

Now some traditional real-estate owners are getting in on the act.

Property Markets Group, a 25-year-old developer, already has started offering a “co-living” option in one of its Chicago buildings through its newly created PMGx division.

Firm executives say they plan to expand the offer to more than 7,000 beds in 3,500 apartments in the next few years as they develop buildings designed for co-living.

The arrangements typically are geared toward millennials. Individual rooms are smaller than those in standard one- and two-bedroom apartments, but each of PMGx’s units typically will have its own bathroom.
...
The benefits for PMGx tenants are primarily financial. When people rent rooms rather than apartments, their rent will be as low as $1,000 a month. In cities like Chicago and Miami, renting an apartment alone can cost twice that much, Mr. Shear said.

“If you’re 22 years old, and you just got your first job out of college, you’re looking for the cheapest point of entry in a market,” Mr. Shear said. “All you want is a room.”
Also...
“We’re juicing the rents,” Mr. Shear said.
Yeah, fucking tell me about it, bro. And the development isn't even downtown! These are way overpriced if they were actually meant as a roommate-replacement.

https://www.wsj.com/articles/big-develo ... 1494956907
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JD
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Re: Fragments of an avotoast anthropology

Post by JD » 16 May 2017, 15:13

I see your literary reference and I appreciate what you did there.
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JasonL
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Re: Fragments of an avotoast anthropology

Post by JasonL » 16 May 2017, 15:20

This moment may already have passed, but dang ...




Transitioning to adulthood isn't new, but there is a more modern way to describe it: adulting.

Get your car's oil changed? That's adulting. Cook dinner instead of order takeout? That's adulting.

And now a new school in Maine, called the Adulting School, is dedicated to teaching skills like these to fledgling adults so they can become successful grown-ups.

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Re: Fragments of an avotoast anthropology

Post by Hugh Akston » 16 May 2017, 15:30

So how is this different/worse than traditional means of finding a roommate? I rented a room in a roommate situation through Craigslist.
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nicole
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Re: Fragments of an avotoast anthropology

Post by nicole » 16 May 2017, 15:32

Hugh Akston wrote:So how is this different/worse than traditional means of finding a roommate? I rented a room in a roommate situation through Craigslist.
Other than being way more expensive because apparently what you did is now too hard for people?
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Re: Fragments of an avotoast anthropology

Post by Dangerman » 16 May 2017, 15:47

JasonL wrote:This moment may already have passed, but dang ...




Transitioning to adulthood isn't new, but there is a more modern way to describe it: adulting.

Get your car's oil changed? That's adulting. Cook dinner instead of order takeout? That's adulting.

And now a new school in Maine, called the Adulting School, is dedicated to teaching skills like these to fledgling adults so they can become successful grown-ups.
My roommate is one of the guys who is interviewed toward the end of that segment.

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Re: Fragments of an avotoast anthropology

Post by dhex » 16 May 2017, 16:25

Adulting is a satanic framework of tremendous evil.
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JasonL
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Re: Fragments of an avotoast anthropology

Post by JasonL » 16 May 2017, 16:30

I would rather 18 year olds were talking about it than 28 year olds ...

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Re: Fragments of an avotoast anthropology

Post by Sandy » 16 May 2017, 16:31

Needs "A Room of Their Own" reference.
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Re: Fragments of an avotoast anthropology

Post by Jennifer » 16 May 2017, 16:32

Maybe I'm feeling unusually mellow today, but I'm less inclined to view such changes as signs of Kids These Days/decline of civilization-type stuff. Roommates, for example -- I've only had a couple in the very earliest days of "adulthood/not living with parents" (I never lived in a dormitory), and those roommates I had were people I met at college. But if for some reason I had to look for a non-Jeff co-living situation now, I'd be very disconcerted by this -- finding a complete stranger trustworthy enough to actually live with, and grant access to all my stuff? (In addition to private bathrooms, IMO it would be a good idea if roommate-specific apartments were also built with separate locks on every bedroom door, just in case.)

And if there are indeed large numbers of millennials who lack what we'd consider basic adult skills, I'd consider that a sign of something wrong with the millennial's parents, not the millennials themselves.

I remember some years ago, I read one of those "kids these days" articles talking about people who don't know how to open a bank account. Which initially struck me as WTF -- how can someone not know how to take either money, or a government or payroll check, to a local bank or credit union and open an account -- but then, when I was a kid being dragged along on my mother's errands when I wasn't in school, going to the bank/credit union was one of them. I was never explicitly taught how to go to the bank, anymore than I was taught how to turn a light switch on and off; it's just one of those things I absorbed via osmosis while growing up.

On the other hand, after the BP oil geyser in the Gulf of Mexico (and subsequent plunge in BP's stock value) inspired me to make the cynical gamble "I shall make my first-ever stock purchase, on the theory that neither the US nor the UK governments will allow BP to go bankrupt no matter how much that company might 'deserve' it," I did have to ask somebody "So, uh -- how, exactly, does one go about buying stock in a company?" After all, it's not as though you can go down to the local Stocks R Us store, pick a few shares off the shelf and give the cashier money to pay for them. A kid who'd been raised in an "investment" family, always hearing parents discuss the day's stock prices and calling their brokers or visiting their online brokerage or whatever, would take for granted "Of course I know how to buy and sell stock, assuming I have the money! Who the hell doesn't know this?" But this skill, which is considered stupidly obvious in some families, is something I had literally never been exposed to.
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Re: Fragments of an avotoast anthropology

Post by JasonL » 16 May 2017, 16:36

To be clear, I think much of the flak this generation takes is unwarranted and none of it is a sign of dooom.

I will mildly meander into These Kids territory in the sense that: 1) They did defer basic life stuff for quite a long while; 2) Woo lots of them sincerely advocate for more free stuff than anyone previously would have been comfortable suggesting in public.

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Re: Fragments of an avotoast anthropology

Post by Hugh Akston » 16 May 2017, 16:46

What kind of basic life stuff did they defer?
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JasonL
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Re: Fragments of an avotoast anthropology

Post by JasonL » 16 May 2017, 16:50

Moving out and paying their own bills and associated things.

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Re: Fragments of an avotoast anthropology

Post by Aresen » 16 May 2017, 16:50

Hugh Akston wrote:So how is this different/worse than traditional means of finding a roommate? I rented a room in a roommate situation through Craigslist.
That worked out well:
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Re: Fragments of an avotoast anthropology

Post by Hugh Akston » 16 May 2017, 16:51

Do you think that's a symptom of the soft job market, or just unwillingness to get off their Xboxphones and work for a living?
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Re: Fragments of an avotoast anthropology

Post by Jennifer » 16 May 2017, 16:55

JasonL wrote:Moving out and paying their own bills and associated things.
Doing these things requires a certain amount of money. Might it be possible that the real culprit is a combination of "low wages/high student debts," rather than "They could pay their own way if they wished; they're just too irresponsible?"

EDIT: Or what Hugh said.
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Re: Fragments of an avotoast anthropology

Post by D.A. Ridgely » 16 May 2017, 16:56

JasonL wrote:To be clear, I think much of the flak this generation takes is unwarranted and none of it is a sign of dooom.

I will mildly meander into These Kids territory in the sense that: 1) They did defer basic life stuff for quite a long while; 2) Woo lots of them sincerely advocate for more free stuff than anyone previously would have been comfortable suggesting in public.
We Boomers are obviously guilty of both. Fortunately, we get first dibs.

If you don't raise kids to be independent, guess what? Yep, chances are they won't be unless and until absolutely necessary or, worse yet, too late.

I suspect city ordinances now forbid such things, but the logical solution in most of these overpriced cities is rooming houses. And maybe all-woman hotels.

We need to find housing for David's yet undecided school in the next couple of months. Obviously, we will have the chosen school's housing resources to work with, but I'm still not looking forward to it. Seriously, if it's Austin, we may just buy a condo somewhere close to the school.

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Re: Fragments of an avotoast anthropology

Post by JasonL » 16 May 2017, 17:15

Hugh Akston wrote:Do you think that's a symptom of the soft job market, or just unwillingness to get off their Xboxphones and work for a living?
The financial crisis was nearly a decade ago. Coming out of college at the height of the problem would have you at what 29-31 years old now?

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Hugh Akston
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Re: Fragments of an avotoast anthropology

Post by Hugh Akston » 16 May 2017, 17:22

JasonL wrote:
Hugh Akston wrote:Do you think that's a symptom of the soft job market, or just unwillingness to get off their Xboxphones and work for a living?
The financial crisis was nearly a decade ago. Coming out of college at the height of the problem would have you at what 29-31 years old now?
Some people older than that are having trouble landing a real job even now.
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Re: Fragments of an avotoast anthropology

Post by Jennifer » 16 May 2017, 17:24

JasonL wrote:
Hugh Akston wrote:Do you think that's a symptom of the soft job market, or just unwillingness to get off their Xboxphones and work for a living?
The financial crisis was nearly a decade ago. Coming out of college at the height of the problem would have you at what 29-31 years old now?
Even so, how certain is it that any such 29-to-31 year old must have overcome whatever financial damages they suffered at the time, and now make good wages (relative to local cost of living and whatever debt loads they have)?

There is a possibility the problem isn't Kids/Young Adults These Days, but The Economy/Cost of Living These Days.
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Re: Fragments of an avotoast anthropology

Post by D.A. Ridgely » 16 May 2017, 17:32

Do we know the unemployment / underemployment rate for people in their thirties?

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Re: Fragments of an avotoast anthropology

Post by Hugh Akston » 16 May 2017, 17:35

D.A. Ridgely wrote:Do we know the unemployment / underemployment rate for people in their thirties?
Unemployment and underemployment
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Re: Fragments of an avotoast anthropology

Post by D.A. Ridgely » 16 May 2017, 17:39

Hugh Akston wrote:
D.A. Ridgely wrote:Do we know the unemployment / underemployment rate for people in their thirties?
Unemployment and underemployment
Does that break down by age? I only looked at underemployment showing a current 8.8% underemployment rate for people 16 and older.

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Jennifer
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Re: Fragments of an avotoast anthropology

Post by Jennifer » 16 May 2017, 17:59

From a December 2016 article "Young adults living with their parents hits a 75-year high" (emphasis mine):

Almost 40 percent of young adults lived with their parents, step-parents, grandparents and other relatives last year, or the highest point in 75 years, according to data from real estate analytics company Trulia. The only time in U.S. history when the share has been higher was in 1940, when the U.S. economy was regaining its footing from the Great Depression and the year prior to the country’s entry into World War II.

The number of millennials who fail to leave the nest has been climbing for the past 10 years, with the trend starting shortly before the Great Recession of 2008 but accelerating during the downturn and the recovery. The phenomenon is tied to a few factors, ranging from society shifts to economic headwinds. For one, Americans are delaying marriage and starting families. But the bigger issue may be the triple whammy of low wages, student debt and rapidly escalating rents. [...]

The last decade hasn’t been kind to America’s youngest generation of adults. They came of age just as the economy fell into a recession, which caused higher unemployment rates and tighter credit markets. While it was tougher to qualify for a mortgage following the recession, millennials were also taking on increasing amounts of student debt.

The typical undergraduate student borrower had $30,100 in student loan debt in 2016, a surge of 53 percent in just one decade, according to the Institute of College Access and Success.

Since the recession, housing prices have regained their footing. Rents have skyrocketed, thanks to the confluence of higher housing prices and the increased demand for rental apartments.

“For most people who take the traditional trajectory, you might rent, then you are ready to buy a home,” Young said. “But if people are living with relatives, it means they aren’t even able to rent. The rental prices are very high in some urban areas, and those are barriers for people to move out.”

Millennials are also earning less than Generation X took home at the same age, according to Pew. ...
So Millennials are earning less than Gen Xers did at their age, and when my Gen X self was a young adult, the articles read "Gen Xers are earning less than the Baby Boomers did at their age." And Gen X had more student-loan debt than did the Boomers, and today's Millennials have more debt than we did....
"Myself, despite what they say about libertarians, I think we're actually allowed to pursue options beyond futility or sucking the dicks of the powerful." -- Eric the .5b

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