[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance


View post   

File: 13 KB, 882x758, 32590093295325.png [View same] [iqdb] [saucenao] [google]
54590951 No.54590951 [Reply] [Original]

Green texting for ease of reading

>Parents buy house in the 1980s for $72k
>Parents pay off house by 1995
>Parents decide to borrow $150k to build a McMansion
>The house ends up costing about $200k.
>Parents struggling for the next 4-5 years
>Parents decide to sell the house because they cant handle the repayments anymore
>They sell the house and pay off their debts and decide to start Renting while they look for something new
>Parents never find a house they like, so they just keep on renting because renting at the time was very cheap
>Property prices start skyrocketing and my parents were priced out of the market
>Housing market crashes, but even with a crashed property market, my parents are still priced out of buying a house
>The property market enters another bubble, and completely annihilates any last hope they had of buying a house
>Now parents are in their 60s and renting, and rent is skyrocketing.

So not only am I left with no property to inherit, my parents need financial assistance because they're now on fixed retirement incomes, and heavily impacted by inflation. It now means I am going to be left behind in the dust, fall behind socioeconomically compared to my own age demographic, because my parents fucked up. While other people my age, their boomer parents have stuff to leave them, they dont need help to help their parents, and therefore they can enhance their own financial well-being much further than I will ever be able to, and not only that, they'll get a nice inheritance later in their, something I'll never get.


So what am I supposed to think? Am I being a baby bitch for feeling some kind of resentment for being put into this predicament? I can't get over the fact my parents had a nice suburban home paid off in 1995 and threw it all away to build a McMansion on-top of it. Well that McMansion they built in 1995 sold for over $2 million dollars recently...........they sold it for $275k in 2000.

>> No.54591027

I forgot to mention one more thing:

My mum still says

>teehee everything works out well in the end, dont worry teehee xD

Mum... you're 65.... you dont have any assets, you dont have any money, you're on a fixed retirement income, you cant afford to do anything, every single one of your friends has multiple properties paid off and have had them paid off for decades, when do things "get better"? because they never did.....

Fuck sake

>> No.54591118

>>54590951
>>54591027
Your parents situation is far more common than you think. My families wealth was destroyed by a bitter divorce battle, and my father remarried to a gook and put all his remaining property into her name, so I’ll never see a dime from that, and my mom had nothing either, she wasted what she got from my dad on a failed business.

If my parents stayed together I’d have an 8 figure inheritance lined up. Does it suck, sure, but I can’t do anything about it, and neither can you.

>> No.54591144

>>54590951
my parents are fuck ups financially as well, its unironically all up to you.

Its kind of a fun game mode to play because everything you accomplish will be soley based off of your own actions :)

>> No.54591255

>>54591118
>>54591144
How do "accept it".

Every time I have to worry about something financially or give my parents money to pay for bills, I keep getting reminded of how things should have been.

>> No.54591400

>>54591255
You need to refuse to financially help them. They are simply reaping what they sown

>> No.54591433

>>54590951
Quit crying like a little bitch like you are entitled to anything. I come from a single mother household, said mother is on social security and i will never inherit anything. I still take responsibility for her fuck ups in life, help her and try to life the best life i can for myself.
At least you had a father.

>> No.54591457

>>54590951
>>54591027
>>54591255

Wow dude that sucks no cap fr

my parents gave me $200k to start out with at college

I will be getting another $500k as down payment for a house

But idk where I wanna live yet, right now im Florida but homes are expensive af here

Might move too, idk first college and study

Ur parents also sound pretty dumb, mine have I think 5 properties or something at least.

But my dad works at a bank

must suck being poor good luck man and i mean it