White Millennials are about to start inheriting a lot of money…

[Rekkapryde]

That's not true. If you bought a house in 2006 for $130K but can sell it now for $150K, you lost in inflation-adjusted terms. And unless you're inheriting hundreds of millions and no one in your lineage has to work another day in your life, you're still vulnerable to the underlying economic vulnerabilities.

I understand inflation and you gotta make sure you profit when taking inflation into account. I paid 240k in 2010 for my home. That's 330k today. I can easily sell for 550 right now because of where I live (county, schools, etc)

My point is that if you are inheriting a home you paid ZERO for, that's a win.

 

[lib123]

I understand inflation and you gotta make sure you profit when taking inflation into account. I paid 240k in 2010 for my home. That's 330k today. I can easily sell for 550 right now because of where I live (county, schools, etc)

My point is that if you are inheriting a home you paid ZERO for, that's a win.

That's true. I guess it also depends on what amount you consider generational wealth.

 

[Rekkapryde]

That's true. I guess it also depends on what amount you consider generational wealth.

Yeah there's obviously different levels of generational wealth but not starting out with anything or in debt as an adult like many of our people do is a plus. It pisses me off hearing so many cacs talk about their parents having money to completely pay for their college tuition and/or down payments on their first homes like it's nothing.

 

[deleteuser101]

My family black baby boomers and they own they homes

I got 2 houses coming

LMAOOO same here

 

[Conan]

I understand inflation and you gotta make sure you profit when taking inflation into account. I paid 240k in 2010 for my home. That's 330k today. I can easily sell for 550 right now because of where I live (county, schools, etc)

My point is that if you are inheriting a home you paid ZERO for, that's a win.

It's a win. But it's a basic win.

The thread is about white folk who can write their kids checks to go to college for free, can gift them trust funds when they graduate. The inherited house is basic, because all you're saving is rent. And if you liquidate you're back at square 1. The stocks and liquid cash are what separates them from black folk in the long run.

 

[Wargames]

Not be buried in the upcoming hell

To be fair we’re going to be the ones who have to deal with that

 

[WetinBeDat]

my ex wife doesn't own her own crib so I dunno what she's gonna pass down to our kids.

I will have a paid off house by that time, plus my 401K, and my personal investments. at least I did my part I guess

life insurance?

 

[lamont614]

While this is true, it shouldn't change anything - keep grinding for yourself. Keep building up your skills.

People come here with nothing, earn a home and pass it down - focus on that.

Don't focus on what you don't have, focus on what's there to be earned.

This

 

[lib123]

Black people won't be a part of this by and large, so I can care less about a bunch of spoiled crackers and their money.

fukk em.

A lot of people won't be part of this by and large. Many will be in for a surprise when they think they're inheriting a house only to find out that their parents had to take out loans due to not having enough saved for retirement.

 

[Wargames]

A lot of people won't be part of this by and large. Many will be in for a surprise when they think they're inheriting a house only to find out that their parents had to take out loans due to not having enough saved for retirement.

Reverse mortgages are going to fukk over so many people, but I don’t think their parents would have been able to keep the house when they were alive if not for it.

The consistent transfer of wealth from the working class to the wealthy via institutional manipulation, inflation, and debt creation, has been nonstop since the 1970’s.

 

[3rdWorld]

You mean that your ancestors had a long term plan? Lol

Yours didn't leave you with anything??

 

[Conan]

A lot of people won't be part of this by and large. Many will be in for a surprise when they think they're inheriting a house only to find out that their parents had to take out loans due to not having enough saved for retirement.

They are inheriting a house. It's just not fully paid off

Still better than people who inherit nothing.

 

[CopiousX]

It's a win. But it's a basic win.

The thread is about white folk who can write their kids checks to go to college for free, can gift them trust funds when they graduate. The inherited house is basic, because all you're saving is rent. And if you liquidate you're back at square 1. The stocks and liquid cash are what separates them from black folk in the long run.

There was also a thread on here that says the opposite.

I believe it was either a @bnew thread or an @videogamestashbox.com thread, but one of the govt statistics bureaus analyzed the SOURCE of wealth disparity and determined that without the houses there is barely a $4k difference between black wealth and white wealth on average. I only remember that thread because it went platinum on theColi.


Losing both the GI bill and the homestead rights due to racism is what truly set black people behind. Cacs aren't some grand financial wizards with complex wealth holdings like Hollywood portrays; they just keep passing down home equity. And I'm also not buying that line on liquid money, cause cacs can't simultaneously lack $400 or even $1000 to cover emergencies like all those studies showed during covid, but still be inheriting liquid wealth in droves.

 

[bnew]

While this is true, it shouldn't change anything - keep grinding for yourself. Keep building up your skills.

People come here with nothing, earn a home and pass it down - focus on that.

Don't focus on what you don't have, focus on what's there to be earned.

people come here with skills an education or both. they pool familial or community resources together. they rarely succeed alone.

i agree, focus on whats there to be earned.

 

[Conan]

There was also a thread on here that says the opposite.

I believe it was either a @bnew thread or an @videogamestashbox.com thread, but one of the govt statistics bureaus analyzed the SOURCE of wealth disparity and determined that without the houses there is barely a $4k difference between black wealth and white wealth on average. I only remember that thread because it went platinum on theColi.


Losing both the GI bill and the homestead rights due to racism is what truly set black people behind. Cacs aren't some grand financial wizards with complex wealth holdings like Hollywood portrays; they just keep passing down home equity. And I'm also not buying that line on liquid money, cause cacs can't simultaneously lack $400 or even $1000 to cover emergencies like all those studies showed during covid, but still be inheriting liquid wealth in droves.

What's the average value of a home? Divide that by 2 (or more depending on the amount of children you have).

That isn't generational wealth. Generational wealth is in the order of millions and tens of millions. You ain't getting that out your residential home, sorry.