Comments on: Cheering the Meltdown?

By: Who will the recession favor?

Who will the recession favor? — Mon, 08 Feb 2010 07:00:51 +0000

[...] Living Almost Large was discussing a rather controversial article “Under 35? Hurray for the meltdown!” I don’t think it was actually meant to be controversial, but it really rubbed a lot of people the wrong way. I think perhaps a different title would have set the tone differently. (Full disclosure: The author is an ex-coworker of my mother’s and they are still in touch. But even beyond that, I think she is a pretty fabulous PF writer.) [...]

By: Carnival of Twenty Something Finances: NCAA Final Four Edition 4/6/2009 | Weakonomi¢s

Mon, 06 Apr 2009 10:58:38 +0000

[...] presents Cheering the Meltdown? posted at [...]

By: Under 35? Hurray for the meltdown! - Personal Finance Forums

Under 35? Hurray for the meltdown! - Personal Finance Forums — Wed, 01 Apr 2009 02:13:50 +0000

[...] debated on my blog here. __________________ LivingAlmostLarge [...]

By: LivingAlmostLarge

LivingAlmostLarge — Mon, 30 Mar 2009 14:54:35 +0000

EEMusings, I agree it’s a great time if you have money saved.

DL, I like working better than school. Go home, nothing to do. School, you have to read, write papers, etc.

But do I believe most will get ahead? No way, they are too busy struggling to keep afloat, trying to keep their jobs in this recession. If we hit something like double digit unemployment how many will still be hunting for a job?

By: DL

DL — Sat, 28 Mar 2009 14:46:13 +0000

“Real Life” is 10 times better than any stage of life prior to. I have more fun now than I did in college. Here’s the logic: In school you go to class, do homework, and usually pay to attend. Now, I work during the day, rarely have work to do when I get home, and take home paycheck based on my performance. How could it be any better?
Paying to do work vs. getting paid. To me its a no brainer. And there are million, yes millions, of opportunities in a market like this. I love the fact that I’m still in my 20’s and have an opportunity like this to take advantage and get ahead while others are paying the price of the lifestyle they could not afford the last 5 years.

By: eemusings

eemusings — Sat, 28 Mar 2009 06:52:53 +0000

Hell no, it’s a terrible time to be starting out. For those with some money stashed away it’s a great time to be investing or looking at buying a house, but for us right about to start our ‘real lives’ reality bites.

By: LAL

LAL — Wed, 25 Mar 2009 00:09:57 +0000

Kristy, I believe that even if I had more spare cash, I would not be investing. I would saving it for cash. Even with the market cheap, right now I am thinking about the job prospects. If I were older would I be investing? It depends, on how much cash savings I had at that time.

As for buying a home in your 20s? Depends mostly on where you live, if you ever want to move, and COLA. I think some areas of LCOLA it’s cheaper to buy than rent.

Sarah I agree it was more than 20-somethings that caused the problems.

TT, a lot of people were “buying” and flipping homes in their 30s/40s because it was “easy money.”

I don’t know what the answer is. Live at home?

By: Kristy

Kristy — Tue, 24 Mar 2009 17:31:25 +0000

Tuesdays Tip-Yes I agree, everyone had a part in the mortgage meltdown. Our country has become a group that likes to blame everyone else and take no personal responsibility for their actions. Hopefully, this will change. I am like you, I try to look at the positive instead of focusing on the negative. Hopefully it will pay off in the future!

By: Tuesdays Tip

Tuesdays Tip — Tue, 24 Mar 2009 17:28:52 +0000

Kristy, I think you will agree then that everyone is part of the problem. Sorry, it just drives me nuts when others point at 20-somethings and claim they know nothing about finances. Working in the mortgage industry I see my fair share of borrower in their 30’s, 40’s and 50’s that still have NO CLUE about personal finance.

Your 20’s is an opportunity to make mistakes and figure it out. Hopefully sooner than later. I’m excited for the next few years. Yes it will be tough for some people, but you create your own opportunities so rather than focus on the negative I prefer to focus on all of the opportunity out there!

By: Kristy

Kristy — Tue, 24 Mar 2009 17:23:37 +0000

Sarah and Tuesdays Tip…did I say only 20 somethings?? No. I said they were part of the problem. Part of the problem is that as 20-somethings, they want instant gratification and don’t feel like saving for items they want…hence the abundance in credit card debt and no down payments.

I am well aware of what is going on in the real estate market…as I work in it and have for the past 8 years.

Tuesdays Tip…I agree with you though, now is best time for the young people to get ahead.