Topic: COTU Millenial

[Arthur Dent]

I'll admit I quickly read through the article but did it say that his parents are not happy?

So if the parents are more than happy with this arrangement, what is the big deal?

They might be happy but they are raising (raised?) a bit of a spoiled brat (IMHO of course). Certainly within their rights to do so I suppose. Not sure if the author understands that not everyone can have life he is selling as the ideal due to the fact that his parents are heavily subsidizing him.

Just playing devil's advocate here but is he spoiled? Sure the article paints a pretty good picture of this but lets face it, would the article get publish if they told you about the $10K/yr the guy donates to charities and the countless hours he volunteers?

More about a guy that spends a lot of money trying to live large.

I'll admit a stopped reading when he was going on and on about expensive booze. Like John said - different values. I doubt I'd have much in common with him if we met randomly at an event.

[quadzilla]

I suppose what I find so off-putting to me personally is the underlying tone that drinking an expensive bottle of wine makes him better than me.

If my daughter wrote that I'd feel that I'd completely failed as a parent.   Different value sets, I guess.

Agree but sadly there are a lot of people in the world that already think that way. Booze, clothes, cars, houses, etc.

[bridgecity]

I suppose what I find so off-putting to me personally is the underlying tone that drinking an expensive bottle of wine makes him better than me.

If my daughter wrote that I'd feel that I'd completely failed as a parent.   Different value sets, I guess.

I didn't get the tone from the writer that living large makes him better than me.  To me he was just trying to explain why he chooses to spend money on experiences and the finer things in life rather than own a home. 

I don't see the big deal about the article.  He works, he plays.  Ya, he lives with mom and dad for now but its not like he doesn't realize the expenses of living on his own.  He actually understands that he'd have to give up a lot to do so.  If his parents wanted him to leave, that's another story, but I didn't get that either unless I missed something. 

Not my choice of lifestyle, but again, I don't see the issue.  But I agree, if my boys thought they were better than others because of money they can spend then I would feel I have failed also.

[tooscoops]

if that is the life you choose... fine.

but he is trying to live like he is a multi-millionaire... he is not... that kind of life is not what you should be living on a barely 6 figure salary... he might see it as a choice between that life or a house, but even without a house payment, he is living too large.

good on him for enjoying life, but he really is living a life of affluence to a level he doesn't belong.

i also like him mentioning that they all were trying to pick up girls and they struck out... from the description of the "crew"... most are with significant others... sound like winners.

[lebowski]

i also like him mentioning that they all were trying to pick up girls and they struck out... from the description of the "crew"... most are with significant others... sound like winners.

^ Yup. This is what stuck out for me in this story. I can’t say I’m terribly bothered by any of his tacky materialism or misplaced priorities. The guy sounds like a complete tool, sure, but that isn't a crime. That said, I do see it as sadly ironic that, in his superficial and materialistic world, where one might argue the ultimate metric for “success” is how many women you can pick up - crass as that is - it sounds like he’s useless. Poor bastard. 

[Brig]

I call BS.  "Dear Penthouse Forum:  I have loads of money and no responsibilities, and here's what I do with my free time..."  No pharmacist or other self-respecting healthcare professional would write anything like that nonsense piece of fluff.

[mmret]

The one thing you guys have missed in all this I think is the comment about real estate. If a nice house in the GTA was $300k instead of $1.5m and interest rates weren't zero (and if the financial crisis hadn't scared people off stocks and scared central banks into this QE baloney etc etc.) then he might well have different priorities.

Remember the whole point of lower rates / ZIRP / NIRP / QE is to get people to spend by making saving less attractive relative to spending. What the hell do you think a well-paid 30 year old urban male is goign to spend on?

Mission accomplished.

[Ex-airbalancer]

If this guy was smart, move an hour outside of the COTU, he would make the same wage and he could get a place for $350,000

[mmret]

He might as a pharmacist but many professions would not. Not to mention that living 1hr outside is not the same life as living inside. Perhaps he likes having a subway pass or a wide variety of excellent ethnic food to choose from. Its not a perfect substitute by any means.

In other words, he could indeed get a place outside for $350k. And do what with it exactly? Simply because it is possible does not make it preferable.


Anyways to all you baby boomers - you are on some level responsible for the situation here

[tpl]

He might as a pharmacist but many professions would not. Not to mention that living 1hr outside is not the same life as living inside. Perhaps he likes having a subway pass or a wide variety of excellent ethnic food to choose from. Its not a perfect substitute by any means.

In other words, he could indeed get a place outside for $350k. And do what with it exactly? Simply because it is possible does not make it preferable.


Anyways to all you baby boomers - you are on some level responsible for the situation here

Yes.     We moved from downtown TO to Guelph 9 years ago.  I still find it a bit quiet here.

[tooscoops]

and a guy like this will be a clubber... he'll want that nightlife of the big city where a girl he strikes out with one night might never be seen again... fresh start with the people in town for the big city experience!

overall, i have no issues with choices he makes.. i can see the validity in his choices. i just think he is a douche... as in, the epitome of what constitutes a douchebag.

[Great_Big_Abyss]

If this guy was smart, move an hour outside of the COTU, he would make the same wage and he could get a place for $350,000

I understand his reasoning for not wanting a two hour commute twice a day just so he can have a white picket fence.  But that shouldn't stop him from trying to rent an apartment or buy a small condo in the middle of a neighbourhood where he wants to live in Toronto and which would still afford him some of the lifestyle he wants to live.  I have no issue with his spending choices per se, but I do find it extremely distasteful that he lets his parents pick up the tab for his living expenses while he lives it up with European trips and expensive nights on the town.

[tenpenny]

If this guy was smart, move an hour outside of the COTU, he would make the same wage and he could get a place for $350,000

I understand his reasoning for not wanting a two hour commute twice a day just so he can have a white picket fence.  But that shouldn't stop him from trying to rent an apartment or buy a small condo in the middle of a neighbourhood where he wants to live in Toronto and which would still afford him some of the lifestyle he wants to live.  I have no issue with his spending choices per se, but I do find it extremely distasteful that he lets his parents pick up the tab for his living expenses while he lives it up with European trips and expensive nights on the town.

But obviously mommy and daddy are happy with the arrangement, or they wouldn't tolerate it.

[aquadorhj]

and a guy like this will be a clubber... he'll want that nightlife of the big city where a girl he strikes out with one night might never be seen again... fresh start with the people in town for the big city experience!

overall, i have no issues with choices he makes.. i can see the validity in his choices. i just think he is a douche... as in, the epitome of what constitutes a douchebag.

probably a slightly less of a d-bag than pure trustfund kids though, since he does work. 


and the way big city realestate market's going, a lot of people making less will have to live with their parents for longer.

someone i know, similar age as me, makes about the same as the guy in the article, not yet married, still live with parents.     that's accepted in a lot of cultures.   the strive for independence at young age is kind of north american thing.

[OliverD]

Read this last week, definitely an interesting perspective.

First of all, I think his reasoning for not buying real estate in the GTA is fairly sound. However, he seems to be using it as a justification for his lifestyle, which is a stretch.

As for living with his parents, that could very well be a cultural thing and it doesn't make him a moocher. He did say that his parents are immigrants from the Middle East so we don't know exactly what their cultural norms are so I think we should withhold some judgement there.

Expensive booze is simply a hobby. Like with many things, you have to pay to get high quality stuff. I don't think it's a big deal. After all, a lot of people here partake in a very expensive hobby themselves.

[OliverD]

I call BS.  "Dear Penthouse Forum:  I have loads of money and no responsibilities, and here's what I do with my free time..."  No pharmacist or other self-respecting healthcare professional would write anything like that nonsense piece of fluff.

Why not? What does the profession have to do with anything? A lot of people can completely separate their personal lives from their professional lives. No reason he isn't doing the same.

[Great_Big_Abyss]

Read this last week, definitely an interesting perspective.

First of all, I think his reasoning for not buying real estate in the GTA is fairly sound. However, he seems to be using it as a justification for his lifestyle, which is a stretch.

As for living with his parents, that could very well be a cultural thing and it doesn't make him a moocher. He did say that his parents are immigrants from the Middle East so we don't know exactly what their cultural norms are so I think we should withhold some judgement there.

Expensive booze is simply a hobby. Like with many things, you have to pay to get high quality stuff. I don't think it's a big deal. After all, a lot of people here partake in a very expensive hobby themselves.

Yes, but only after they've paid for their living expenses.

[OliverD]

Read this last week, definitely an interesting perspective.

First of all, I think his reasoning for not buying real estate in the GTA is fairly sound. However, he seems to be using it as a justification for his lifestyle, which is a stretch.

As for living with his parents, that could very well be a cultural thing and it doesn't make him a moocher. He did say that his parents are immigrants from the Middle East so we don't know exactly what their cultural norms are so I think we should withhold some judgement there.

Expensive booze is simply a hobby. Like with many things, you have to pay to get high quality stuff. I don't think it's a big deal. After all, a lot of people here partake in a very expensive hobby themselves.

Yes, but only after they've paid for their living expenses.

This guy pays for his living expenses too, he just doesn't have very many of them. 

[tenpenny]

Read this last week, definitely an interesting perspective.

First of all, I think his reasoning for not buying real estate in the GTA is fairly sound. However, he seems to be using it as a justification for his lifestyle, which is a stretch.

As for living with his parents, that could very well be a cultural thing and it doesn't make him a moocher. He did say that his parents are immigrants from the Middle East so we don't know exactly what their cultural norms are so I think we should withhold some judgement there.

Expensive booze is simply a hobby. Like with many things, you have to pay to get high quality stuff. I don't think it's a big deal. After all, a lot of people here partake in a very expensive hobby themselves.

Yes, but only after they've paid for their living expenses.

This guy pays for his living expenses too, he just doesn't have very many of them. 

He has to live with his parents, for some that would be a steep price to pay.


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[rrocket]

This guy couldn't buy a house even if he wanted to. Because it sounds like he wouldn't know how to cook, clean and do his own laundry.

I know if I was his age and living with my parents I'd be too ashamed to admit it....