Why aren't millennials buyin houses?

nirpumbrella.com/millennial-homeownership-dream-shattered/

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I think there's more at play here than just the typical "STUDENT LOAN DEBT IS INSANE AND MILLENNIALS CANT AFFORD HOUSES FUCK YOU GOVERNMENT!" trope here. That shit is so played out. I took out loans too, have about double what your typical grad has. That's not the biggest thing stopping me from owning a house, and I probably will own one before 35.
I think you're seeing our generation marry less, and marry older when they do. I'm a 21-year-old graduate, and I see people a couple years removed from college (23-24) getting married, sure. It's not super common, but it's seen. However, the vast majority are waiting until later in life. I believe the majority of people in my generation are getting married late 20s, early 30s. The median age of first marriage for males is 29, and females is 27. Whenever new census data comes out, it'll be interesting to see what the new numbers are. My guess is maybe even a slightly older bump.
I think there's more at play here than just the typical "STUDENT LOAN DEBT IS INSANE AND MILLENNIALS CANT AFFORD HOUSES FUCK YOU GOVERNMENT!" trope here. That shit is so played out. I took out loans too, have about double what your typical grad has. That's not the biggest thing stopping me from owning a house, and I probably will own one before 35.
I think you're seeing our generation marry less, and marry older when they do. I'm a 21-year-old graduate, and I see people a couple years removed from college (23-24) getting married, sure. It's not super common, but it's seen. However, the vast majority are waiting until later in life. I believe the majority of people in my generation are getting married late 20s, early 30s. The median age of first marriage for males is 29, and females is 27. Whenever new census data comes out, it'll be interesting to see what the new numbers are. My guess is maybe even a slightly older bump.

While unmarried, most young people live in a metropolitan area. Due to not getting married at 22 and having kids at 25, people aren't aiming for a house in the suburbs 45-60 minutes from their office before they're 30. Income mobility is far greater in cities, so they are the smartest place to live for those who seek career and income advancement. The social scene of every city is also within the limits of that city. Public transportation to and from an apartment within the city center or at least close by is way more desirable for our generation, which leads to renting over buying. It's no surprise that only ~1/3rd of home owners are under 35, because those under 35 aren't living where homes are being built and are available. This will be interesting to follow, but I think it's mostly due to not only student loans, but wanting to live in a city center in favor of a sleepy suburb before age 35. I'm sorry, but I think being 25 and married with 2 kids living in a suburb like previous generations in my family would be really, really hard while all of my friends are still enjoying city life and all the fun that comes with it. I feel at 25, I won't even be ready. I'll probably have ~$20k in loans left by then, which is manageable and wouldn't prevent me from home ownership, I just don't want to settle down that early. There are kids still in grad school at that age who haven't really started their lives, and I'd already be basically retiring my youth by then. No thanks. I believe a lot of my generation feels roughly the same, and why you're seeing less "traditional" moves like marriage right after undergrad, followed quickly thereafter by home ownership and kids.

Houses are just too damn expensive. I make $30k a year and have $60k saved up in the bank. If I buy a house, practically all of my savings would be gone because of the down payment and I would have to spend around $1500 a month for the mortgage, HOA fees, insurance, utilities, and other nonsense. That is almost my whole paycheck gone.

Buy land and do a stick-built yourself buddy, YouTube and chutzpah go a long way

Why not wait until the bubble pops? Can't take more than a couple of years now.

i think women and feminism are to blame

they are competing with men for jobs yet still are not willing to settle down with a man who earns less than them

Average house prices near me are 300k, average houses near my workplace are 500k. Average wage here is 28k but the vast majority of people I know earn 11-20k. I've only just started earning ~30k. Not to mention mortgages are hard to get desu. A couple I know earn around 50k combined and can't get a mortgage for a 200k flat.

He's got a spoon wrapped around his wrist with watch hands drawn on in sharpie.

Housing prices have peaked out right now, which is great for investors and property owners but terrible for we Millennials.

Also, the Boomers are hoarding all the money of course, "muh six pensions, bought muh house for 100k in the nineties and I can resell it for 400k now, why are young people so bitter and angsty?"

if you old people start dying already
or your wealthy start investing in low income properties
that situation will change

Wage stagnation and high prices. They should get into the market though. I'm set to make $200k off of my condo and buy a house for a sensible price. With that down payment, my home will cost me functionally the same as it would have if I bought it ten years ago.

While we are anticipating a crash, real estate is a solid asset if you are actually going to live in it and don't intend to get rich off of it.

You will never be able to save enough money to keep up with the prices and waiting for the market to crash may leave you fucked. A guy at work has been waiting 15 years for the market to crash "any day now" and he's set to retire very soon... He'll be renting until the day that he dies.

Just get into something. At the very least your mortgage will remain the same over the years where as rent will increase regardless of anything.

republicans, reckless economically environmentally and socially.

look at this cuck. oh please hire me so I can be a cog in a meaningless capitalist society

Where do you live? There's something that you can get into. You just don't believe in your ability to do it. If you are already paying rent, there's literally no reason not to buy your own place.

Because they want to live in overpriced leftist cities

>How small is too small? Inside the 28 sq ft, $500-month 'pod' an illustrator built into his friend's San Francisco apartment
>Peter Berkowitz, 25, constructed a tiny bedroom pod in the living room of his friend's San Francisco apartment
>One bedroom apartments in the city rent for $3,500 per month compared to his $508 per month to live in a pod
>The pod is equipped with a fold-down desk, cushioned backboard that's slanted and LED lights for reading
>He believes pods can provide a 'needed fix' for people who want to add a bedroom to apartments without rent rising
>His eight-foot-long pod is also equipped with a sliding door and has room to store his books and clothing

dailymail.co.uk/news/article-3511431/Inside-eight-foot-bedroom-pod-built-San-Francisco-apartment-s-equipped-sliding-door-LED-lights.html

I wanna pay 10 times as much for a house as my grandparents did

I wanna be burdened all my life with debt for trying to improve my life

jesus gave us the perfect economic system

more tax cuts for the rich

Because people have been waiting for the bubble to pop for a very long time. Developers are maintain just enough supply to be overwhelmed by demand. They are keeping the prices high and building their profits gradually as time passes. Even if foreign investment dries up, the other pressures will remain and at most, prices will either plateau or dip a bit.

A crash might put prices back to where they were a few years earlier... When you decided to wait for the crash... In which case, you should have just bought it then.

Just get into a home you can afford and enjoy it. A crash will only truly fuck investors and those that were never able to sustain home ownership to begin with

housing market is SHIT if it costs 500+ for a decent barebones apartment and 700+ to mortgage an actual 200-300k home

cheap money is causing over inflated housing prices
not tax cuts

We're poor you dumb cunt.

It's because they're irresponsible & lazy, I bought 5 houses by the time I was 29, because I wasn't afraid of good old fashioned hard work, unlike these pathetic special snowflakes millennials we have these days.

I could never afford to buy a house outright, so rather than get tied to specific spot for some twenty odd years, I rent.

New houses being built are all McMansions. No one builds small, modest "starter homes" anymore. The only places you can still get small starter homes is in old neighborhoods, usually befallen to ghettoization.

>literally living in a pod
pls

bush's tax cuts cost more than the iraq war and trump is gonna double down .

worthless dollars make make houses look expensive too

Oh nooo, are you poor? Maybe the gubment should give you some money?

How about you man the fuck up and tighten your bootstraps or whatever the fuck and make some money you degenerate fucking loser.

>great for investors and property owners but terrible for we Millennials.
You mean chinks?

Per the advice of my rich stepdad and uncle, it's too early in the game to own one apparently. I have the money I just took their advice, I'm 25. Don't have a family anyway so what's the point? Give myself more headache with house work for no reason? I could be working on guitar or martial arts gaining value

saving.org/inflation/inflation.php?amount=10&year=1950

Tax cuts dont cost money

Nice. You pasted it twice. You retard.

Buying with what, pal? Beer caps? You think that real life is just a monopoly game?

They're too busy spending their millions of dollars required to buy houses on fanvy decadent things like food, petrol and electricity the greedy little bastards.

roads and bridges aren't free

Rather live in my mother's finished basement with a kitchen for free, plus I don't plan on living in the US for more than a couple more years, even if I was going to stay, I still would rather live in my mother's finished basement with a kitchen for free

I make 70k annually, have no student debt but still would take me a long time to save up for down payment since decent houses not too far from toronto are all over 1mil

Anyone thinking canadian housing market will crash? The only thing i could afford is an older condo and i dont see condos as a great investment :(

Condos are starter homes now. Depending on your market, you could buy one in a good area, suffer for a few years and then sell it for a profit and move into a McMansion with a large down payment. In Vancouver I moved into my place with a $25k down payment and I'm cashing out with at least $200k to put into the home I will be living in forever... And I'm still going to be making enough to live very comfortably.

>nirpumbrella.com/federalreserve-bottomless-mortagage profiteering-dream-shattered/

boohoo the bankers aren't fucking as many goyim as they wish they could!

i'm having a hard time feeling bad about this

...

They've somehow made beards feminine.

yes they cost money
they are also not tax cuts

>Rich step dad and uncle.
>Dueling banjos.

Dont know the laws where you are but here if you tried to just build your own home the government would immediately come and knock it down because you didnt get building permits council inspection etc etc. You cant even just build your own shit shack without the government demanding you pay 100s of thousands of dollars.

At the same time they actively keep housing and land scarce by calling everything crown land and refusing to release any for sale tonthe public despite the insane ammount of empty space in the country.

Well they're both rich why would I not take their advice?

So what? That 1500/mo is a great price to pay for living expenses and thats going into equity on your home. Why pay that in rent and have it disappear forever?

if you don't collect tax money from the rich to build the roads you have to get it from someone else

Why would you buy a house when you live off your parents and the gooberment? Rapeugees need houses for massive families. Owning a house is probably some sort of white privilege.

Good neighborhoods where I'm not getting robbed are expensive as fuck. The ones with afordable houses are nigger jungles.

Plus I no have to take care of shit like my lawn and garden and make it look good and pay all the bills myself. I'd rather rent in apartment and have all the hassel and not be robbed when I come home from work removed.

(1) Yes they do in terms of opportunity cost - the revenue that otherwise would have been collected could be used for socially useful purposes

inb4 entry-level Laffer Curve bullshit

because its a fucking scam. a house that's worth 30years of my life? no chance. even if i rent for 30years and own nothing at least i have the option to walk away at any time

ok but it is still the roads that are costing you money not the tax cuts
also roads should be completely paid for by usage fees

But seriously, 90% of all millionaires made their money in real estate. Owning a home now while you are young is worth the head ache. You can rent it out and pay next to nothing on the mortgage, maintain the home and it's value and take over residence when you are ready or sell it when you feel it is time. Either way, homes have intrinsic value and are always a solid investment... Imagine retiring at 65 and having a home that has been paid off for twenty years. You can sell it and move to the boonies and have hundreds of thousands of dollars to supplement your retirement income.

Or, you can sell it earlier and use the fund to invest elsewhere. Either way, it's never too early to intelligently invest your income. Whether it is in savings, stocks or tangible assets, do something.

They aren't having kids, so there is no reason to buy a house to leave it to them.

lel

>not having the goyim be my slaves is costing me precious shekels

>take our loan, goy

No you didn't

I'm saving. Being single I can't loan very much and house prices are just about the highest they've ever been. I've saved up almost 70k so that should allow me to get a small house and perform the necessary renovations along with a loan. Right now I'm just waiting for the right one to come along.

I turn 30 next year.

Why didnt he buy during recession??

>Plus I no have to take care of shit like my lawn and garden and make it look good and pay all the bills myself.

This why millennials don't want to be homeowners. They're pussies who don't want responsibilities.

>not your 7000 student loan to go balls deep in cryptos last year
>not earning between 35 and 200K EUR per day for two weeks now

>No you didn't
What makes you say that RuBwM6gr ?

Condos are a pretty good investment. If Toronto is anything like Vancouver, you will gain value. My 3 bedroom place may earn me $200 - $250k. My friend's two bedroom unit is worth $100k more than he bought it for already. According to my real estate agent, one bedroom units are selling for huge money right now.

Townhouses have increased significantly this year. My friend bought his last year forb $530k, his neighbor is selling an identical unit for $699k.

The market may plateau, but I don't believe it is going to be a catastrophic loss. We still have supply issues. There's lots of domestic demand and the foreign speculator boogeyman, while real and irritating, are causing people to lock in irresponsibly at ridiculous prices.

Buy something cheap and live in it. Condo living is shit, but it's a good way to get your foot in the door.

Luckily for men they get "rich" as they turn about 24-30ish.
So long as you kept yourself in shape you should be fine.

You do realize that in some places, rent is just as much or even more than a house payment. Sure, the apartment may be better than the house but you still can get a lot more room and you can sell it and make off it later.

Because Boomers/Jews use housing as Investment opportunities which they buy cheap and flip for profit. Boomers/Jews, having vastly more money than poor kids, are able to snap up affordable opportunities and then expect to flip that vacant house for a million dollars a few years later.

Also foreign money is flooding in, buying Western clay up right out from under the citizenry's feet, for the profit of the disloyal globalist banksters who are making shekels off of it. Europe/America/Canada/Australia is being sold out, and the bankers have made it clear that white natives aren't welcome in their own countries anymore. You never OWNED NUTHIN anyway, GOYIM.

Lmao the jooz benefit the most from tax cuts you absolute cuck.

They get to hoard their wealth and prevent it from being used to help poor white people.

You're relying on ever-growing housing prices. Lots of people thought the exact same way in 2006/2007 and got ruined for life as a result.

If you live off of your parents and enjoy your neet lifestyle, investing in rental properties is the best way to increase your income and have more money for upgrades to your gaming PC.

Why would you put $60k down on a house if you make half that?

Yeah, the building laws here are bullshit. Can't even build a little cubby house for the kids without paying for planning & approval.

Renting is retarded if you have the ability to live with your parents. Save until you marry. Housing prices aren't too bad in America if you don't live in big cities. Smaller cities and rural areas (typically whiter) are the way to go. Commute if you have to. Don't buy houses in newer developments. They're typically built in a few days. Very shotty work.

Meh. I learned to live without spending tons of money. Hiking is a cheap as fuck hobby. So's a musical instrument, aside from the initial purchase.

It also helps that I've only been on 2 holidays in the past 10 years and I have no friends.

I wouldn't, that's the whole point of my post.

They waste their money on Hearthstone packs and then die in their early 40s.
Don't worry, Gen Z will take over.

>no job security
>wonder why people don't want to lock themselves to a single house for 30 years

You will be renting until the day that you die and your rent will increase. When you buy, you pay your mortgage for a set number of years and you are done. You can always sell your home and use the profit as a down payment somewhere else. You can continually move and ultimately only be responsible for property tax, which is much less than rent will ever be.

Imagine being on a fixed income and having to pay rent.

where does he shower?

Well right now my dad's inheritance went through stocks in deferred compensation. Since Trump's victory I've made money. I wouldn't say a shit ton since it's all pretax, but it's a large sum I didn't have before.

Because he's a fucking moron. The guy makes $200,000 per year. He could buy now no problem, but he keeps saying "any day now!"

>pay the mortgage for a set number of years
If you want a reasonable interest rate, that number is 30. How many people expect to be living in the same place for 30 years.

>you can always sell your home and use the profit as a down payment
Having one of your personal finance premises being an ever inflating property price/housing market is a recipe for absolute disaster. There are people who still haven't recovered from 2007 and 2008 and likely never will.

>the feds help poor white people
No they give it to welfare niggers to go buy useless junk and keep inflation going so banks can continue to lend money

But even if you sell it for a loss, you will still make money off it compared to an apartment. I'd rather own property but of course if housing prices/mortgage patments are WAAAY more than rent, I'd rather get the apartment for the time being.

Millennials are adapting to material circumstances. This was planned.

> Privately owned housing would become a thing of the past. The cost of housing and financing housing would gradually be made so high that most people couldn't afford it. People who already owned their houses would be allowed to keep them but as years go by it would be more and more difficult for young people to buy a house. Young people would more and more become renters, particularly in apartments or condominiums. More and more unsold houses would stand vacant. People just couldn't buy them. But the cost of housing would not come down.

> You'd right away think, well the vacant house, the price would come down, the people would buy it. But there was some statement to the effect that the price would be held high even though there were many available so that free market places would not operate. People would not be able to buy these and gradually more and more of the population would be forced into small apartments… small apartments which would not accommodate very many children. Then as the number of real home-owners diminished they would become a minority.

>even if you sell it for a loss, you will still make money off it compared to an apartment

What does this mean? You won't be able to pay off the remainder of your mortgage is you sell it for a loss. You'll default on your loan and get fucked.

>they give it to welfare niggers
I wasn't aware that welfare programs were limited by race. Also there are basically no welfare programs (except for EITC, which only applies if you work and SSDI, which if you're horribly crippled) that give out cash payments for nothing.

>lock themselves to a single house for 30 years

This has a lot to do with it.

In 30 years a nice neighborhood can turn into an unlivable ghetto. If you're renting you can always pack up and move on to whiter pastures.

You're relying on the market going post apocalyptic though. If there is a crash in a few years, the values may just drop back down to what they are now. That would be a huge loss, still. Either way, since you are living in it for the long term, it won't bother you.

You are also forgetting that you will, without a doubt, be paying rent for the rest of your life. It's a simply equation to make... How much would you be saving by renting until you die versus paying a mortgage until you are 55? If you live until you are 75, that's an extra 25 years of lost earnings and pension that you and your kids will never get back.

It's lost wealth, plain and simple. You are enriching someone else when you can be enriching yourself.

>SSDI, which if you're horribly crippled
Are you this naive?
also dont forget ebt section 8 and medicaid

why they so jew isnt aussie land a wasteland

We gave this guy $825 billion to build new roads and bridges

He didn't build any new roads or bridges with that money

Care to explain?

Do you understand you don't have to put that much down?

Keep in mind that you are going to be inheriting your parents wealth at some point. Boomers flipping houses are going to make you very rich in a decade or two.

too busy spending their money on haircuts that make them all look like faggots

>there are basically no welfare programs...that give out cash payments for nothing.

Every convenience store in the ghetto will give cash for SNAP/EBT. They overcharge immensely for some item, then give you cash and pocket a portion as a fee.
Look up welfare fraud busts, there's a big one every few years.

Got to reserve land for muslim overlords, peasant.

EBT distributes SNAP, which gives you a payment purely to purchase food.

It's not like the 80s when you could trade stamps for cash.

Section 8
Wasn't aware that housing was cash or that it was limited to niggers. Lots of mobile homes are section 8 housing as well.

Medicaid also isn't distributing cash payments to poor people. It just lets you go to a doctor and if you live in a state that instituted Medicaid expansion, literally anybody under 138% of the poverty line is a part of Medicaid

How?

>Owning a home now while you are young is worth the head ache. You can rent it out and pay next to nothing on the mortgage, maintain the home and it's value and take over residence when you are ready or sell it when you feel it is time.

That's what I'm doing. 28 now, bought my house when I was 27. My mortgage is $1300. I rent up to 3 of the 4 bedrooms out to local students for $600 a month, all that money goes against the principle, home improvements, or into a savings account.

I think the trafficking rate rn for SNAP is something like less than a cent per dollar. So yeah it may exist, but it's basically a negligible problem

>you're relying on the market going post-apocalyptic

Not really, just on what it was 10 years ago which seems likely to me given that Dodd-Frank is getting repealed and banks are back to selling CDOs to morons.

>versus paying a mortgage until you are 55
Once again, you're assuming anybody our age is going to live in the same place for 30 years - it basically doesn't happen anymore especially given the levels of job instability in this country.