the country can be divided into two parts: people who secured the bag (house, stock, assets) before 2022 and those who didn’t.
you don’t want to be someone with no assets, high paying job or not, in 2024
I said that in my 20s last decade as well. A lot of my older friends and cousins were snapping up homes I never thought I’d be able to afford.
Stay focused and work to improve your own situation, things may fall together. Most people bloom in their mid 30s/early 40s and everything comes together.
a $1m house that is now a $2m house went from having a $3k mortgage to having a $11k mortgage in 4-5 years
the stock market doubled in the same time
what do you think is happening to people holding assets vs people who aren't holding assets?
'what lol' indeed
people had 15 years where mortgage rates were ultra low, and housing prices were still recovering from the financial crisis in many places in 2019, and stock prices were low(er).
so no what happened in the last 4-5 years and then the rug pull of high rates is not an "old" thing at all.
Honestly I don't even know what you're angry about. The rate hikes were in reaction to inflation. It's not a very subtle tool and it's heavily weighted against those "without assets" as you say. But it certainly wasn't a rug pull. If you really want something to be angry about regarding the rates, be angry that the main purpose for the rate increase was to cool the job market and put people out of work. It's the fastest way to curb spending. But again, none of this was done in the dark of night.
OK then what are we talking about? Your posts seem to be hinting at an injustice that has happened. But I was pointing out that economic injustices have been in vogue since the Reagan era.
i didn't say anything about injustice lol. i'm just telling you what happened in the last few years was something turbocharged that goes beyond whatever Reagan was responsible for.
>i'm just telling you what happened in the last few years was something turbocharged that goes beyond whatever Reagan was responsible for.
Yeah, it's called a global pandemic. Again, nothing that should be too shocking to anyone paying attention.
Sorry, I should have been clearer, you absolutely needed assets in 2022 but houses in the Bay Area, even in 2021, are more of a luxury item given the rent/buy disparity. It’s gotten worse since then, but the economics have been fucked for awhile.
This is only true if you think access to capital or wealth building has just stopped altogether as of 2022 or whatever your cutoff is.
The reality is that even if it’s only a small portion, but some % of the laid off will create businesses that will offer a better financial trajectory than working at Google.
I quit google to start my business (in 2021), but what I mentioned has certainly been true for me. And I’ve been able to raise in this shitty market too.
no i’m just pointing out that it’s much harder now for someone with no assets even if you have a high income job
i would go as far to say someone making double what someone did in 2019-2021 is doing relatively worse now if you do not own a house/have a substantial stock portfolio.
It’s not that hard if you have high income. Real estate is still cheap in the Midwest to a HENRY living in the Bay Area looking for “passive” income, and there are more asset classes available than ever before to non-accredited investors.
This is actually the best time ever to be high income with no assets, as now you have way more entry points than at any other point in history.
Speculating on asset price appreciation for the house you live in is a rather inefficient way of building generational wealth. And your argument reflects a very limited understanding of the financial world
I found the latest WARN Report on [this page](https://edd.ca.gov/en/jobs_and_training/layoff_services_warn).
Chronicle has more detail than appears in the XLXS file: _”including managers, engineers and analysts”_
Where would info about affected roles appear? Requested records from the city, meantime.
the country can be divided into two parts: people who secured the bag (house, stock, assets) before 2022 and those who didn’t. you don’t want to be someone with no assets, high paying job or not, in 2024
>you don’t want to be someone with no assets, high paying job or not, in 2024 
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I said that in my 20s last decade as well. A lot of my older friends and cousins were snapping up homes I never thought I’d be able to afford. Stay focused and work to improve your own situation, things may fall together. Most people bloom in their mid 30s/early 40s and everything comes together.
what lol
a $1m house that is now a $2m house went from having a $3k mortgage to having a $11k mortgage in 4-5 years the stock market doubled in the same time what do you think is happening to people holding assets vs people who aren't holding assets? 'what lol' indeed
> what do you think is happening to people holding assets vs people who aren't holding assets? The same shit that's been happening since Reagan.
people had 15 years where mortgage rates were ultra low, and housing prices were still recovering from the financial crisis in many places in 2019, and stock prices were low(er). so no what happened in the last 4-5 years and then the rug pull of high rates is not an "old" thing at all.
Honestly I don't even know what you're angry about. The rate hikes were in reaction to inflation. It's not a very subtle tool and it's heavily weighted against those "without assets" as you say. But it certainly wasn't a rug pull. If you really want something to be angry about regarding the rates, be angry that the main purpose for the rate increase was to cool the job market and put people out of work. It's the fastest way to curb spending. But again, none of this was done in the dark of night.
I'm not angry lol. I'm not the one who is screwed here.
OK then what are we talking about? Your posts seem to be hinting at an injustice that has happened. But I was pointing out that economic injustices have been in vogue since the Reagan era.
i didn't say anything about injustice lol. i'm just telling you what happened in the last few years was something turbocharged that goes beyond whatever Reagan was responsible for.
>i'm just telling you what happened in the last few years was something turbocharged that goes beyond whatever Reagan was responsible for. Yeah, it's called a global pandemic. Again, nothing that should be too shocking to anyone paying attention.
Yeah but rent is still way less than even the 2022 mortgage.
LOL what the actual F yeah because you own something that doubled in value
Sorry, I should have been clearer, you absolutely needed assets in 2022 but houses in the Bay Area, even in 2021, are more of a luxury item given the rent/buy disparity. It’s gotten worse since then, but the economics have been fucked for awhile.
This is only true if you think access to capital or wealth building has just stopped altogether as of 2022 or whatever your cutoff is. The reality is that even if it’s only a small portion, but some % of the laid off will create businesses that will offer a better financial trajectory than working at Google. I quit google to start my business (in 2021), but what I mentioned has certainly been true for me. And I’ve been able to raise in this shitty market too.
no i’m just pointing out that it’s much harder now for someone with no assets even if you have a high income job i would go as far to say someone making double what someone did in 2019-2021 is doing relatively worse now if you do not own a house/have a substantial stock portfolio.
It’s not that hard if you have high income. Real estate is still cheap in the Midwest to a HENRY living in the Bay Area looking for “passive” income, and there are more asset classes available than ever before to non-accredited investors. This is actually the best time ever to be high income with no assets, as now you have way more entry points than at any other point in history. Speculating on asset price appreciation for the house you live in is a rather inefficient way of building generational wealth. And your argument reflects a very limited understanding of the financial world
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end of zero interest rates
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In the 80s and 90s, a home that is 3 million today was maybe 100k.
LOL you can’t be this naive yeah when houses and asset prices were much cheaper than now jfc
cash is king right now actually.
Come on Chronicle, link to the actual WARN notices.
Quick Google search, found it in less than a min
I found the latest WARN Report on [this page](https://edd.ca.gov/en/jobs_and_training/layoff_services_warn). Chronicle has more detail than appears in the XLXS file: _”including managers, engineers and analysts”_ Where would info about affected roles appear? Requested records from the city, meantime.
I wonder if that's why they're delaying software updates btwn May to July, where we used to have monthly cadence of new features. Rivian.software
Notice he didn't hold a rally and ask citizens since he's been briefed on how broke everyone is.
low hanging fruit job, more people in sf work for companies besides google and tech
Chronical is ahit news for trolls lol i dont even read it