Us Millennials sure do love destroying industries by non-participation such as… lemme check my notes here… housing. Pack it in, chaps, another job well done.
This is news! 15 years ago.
I’m a millennial homeowner and the only way I managed to do so was after getting a toehold in a cheaper market.
I just bought the cheapest house that was bearable to live in. It was $40k cash.
It’s very hard to find single-family dwellings that are small enough to be cheap enough…
Where is this 40K house? Does it need 100K in repairs?
Older than millennials and accepted that I’ll never own a home. This is despite having money. Not where we want to live, anyway.
We could swing it if we accepted living in a shithole like Utah, but then I’d hate my life.
I sold my house in Utah and bought a better one for less back east. Utah is indeed a shithole, but property there is expensive as fuck.
what would marx do?
Am 43. Owned a falling-apart trailer for two years til it leaked enough carbon monoxide to almost kill me. Couldn’t afford maintenance. I have one Aunt left to live with and when she passes I’m expecting to be homeless again. I’ll never afford my own home. Yes, I’ve looked up “assistance” for disabled and therefore low income ppl in my area, and many other areas as well bc I’d move for a home again in a heartbeat, but that stuff simply isn’t funded anymore. I feel like I’ve been moving from one family to another who will temporarily adopt me for the last 15 years.
At this point it’s easier to join a movement to tax private ownership of essentials, than saving for a home
airbnb, and corporate landlords(blackstone/rock) are the blame. plus the low wages of many fields too.
Investors in general have driven up prices literally around the world. Whether its abnb, LT rentals, investment vehicles, house flippers, retirement plans, corporate strategy etc. Access to the basic needs of living are being inflated by people playing games with money.
Even if you had high wages, it’s really difficult with all of this inflation.
I have almost 200k put away and it isn’t enough.
EU has countries where 200 is sufficient for a good house. Government is a bit better too.
Costa Rica will give you an immediate permanent residency if you bring that capital over to them. But please for the love of god learn Spanish and embrace their culture if you move. That country is remarkable and it needs to stay that way.
But but 50 year mortgages. Pounce now and you can own by 90
Seriously got lucky by inheriting one. It sucks thinking about anyone to afford one out the pockets.
Yeah, we’ve decided that we’re just gonna pick a house we like and move in. If someone lives there, they can live under it. Got 64 more layers til bedrock, right?
Yeah, don’t know where you’re going with this. But I said I was lucky in the first few words.
i don’t know where i was going with this halfway through the sentence either. yesterday was a weird day
I’d love to buy a home
I just can’t do it any time soon due to ballooning prices where I currently live
So if younger generations have less and less capital with which to enter the housing market, then where does the value appreciation come from I wonder?
House flippers keep buying houses, painting shit white, then selling it to another flipper for 100k more than they bought it for
Private equity firms own 10% of all units in the US.
At this rate HGTV will have turned everyone on Earth into a house flipper by mid next year.
Ready to flip the table
I’m a millennial with a house but no retirement savings, and the WSJ tells me the average millennial has over $1m in retirement assets now, so fuck y’all and your privilege. (I’m just kidding, I know you’re poor too)
There is no fucking way in Hell the average millennial has even $100k in savings.
Is that the median or mean average? The worse that inequality is the more it distorts mean averages and the less it tells you about the majority.
Pretty sure it’s average if it’s true. It’s 100% NOT the median. Median is probably $50k or less if I had to guess. There is a scary chunk of society that can not afford a $500 emergency. It’s awful.
Love all those articles that are like “By 30 you should be saving and have this much for retirement by now…”
Like lol the car made a funny noise, $100 doesn’t even hope to fill a grocery cart, and we’re enjoying yet another “unprecedented” planned financial crisis in our lifetimes, what do you want from me here.
I especially love how people continue to have
childrenslaves in such hopeless conditions.
Mate, there is no chance the average millennial has over $1m in retirement assets. The average Gen X doesn’t have that much and we have been working a lot longer.
Depends on the ‘average’. Mean? Yes; median? probably not
lol 😂 what a sick twisted sense of humor.
