Millennials can't buy homes due to horrible savings habits and student loan debt. Do prices have to come down? Plus when interest rates rise, it has two effects: 1) home prices go down as demand for owning decreases due to increased monthly mortgage payments 2) if you're a current landlord it's probably not a bad deal because more people will continue renting so landlords will stay happy
Not black but blanc wrote:
Millennials can't buy homes due to horrible savings habits and student loan debt. Do prices have to come down? Plus when interest rates rise, it has two effects: 1) home prices go down as demand for owning decreases due to increased monthly mortgage payments 2) if you're a current landlord it's probably not a bad deal because more people will continue renting so landlords will stay happy
Are you a junior in high school?
ughh what? we have perfectly good homes already if you haven't noticed... our parent's!
Oh really?? Lol
Two words: laissez faire
All you Bernie fans think we need to attack the free market with a hacksaw to equalize everything. If that's not communism, I don't know what is.
in the current economy, millennials change jobs more than BBers ever did, good to stay flexible in where you live. they spend more on "experiences" than "things," as compared to BBers (travel, dining out, concerts--all of which used to be relatively cheaper). After the 2008 collapse, they are more hesitant to believe that real estate will always go up in value, compared to BBers.
Millennials can easily buy homes. Just not in expensive places they feel entitled to live in.
Most whine and complain because they can't walk out of college into middle management into their "dream " job .
And most lie through their teeth knowing god damned well that their "boomer" parents paid for most if not all of their fabricated boo hoo student loans .
Get a job now and get off of your I phones .
Start saving .
This market will not last .
That's why they are in love with Tiny Houses!
TAA wrote:
Millennials can easily buy homes. Just not in expensive places they feel entitled to live in.
Yup because all the best jobs are in Grashole, Kansas where you can buy a house for $100k.
I'm a millennial and just bought a home for 600k. Am I in trouble?
Not black but blanc wrote:
Millennials can't buy homes due to horrible savings habits and student loan debt. Do prices have to come down? Plus when interest rates rise, it has two effects: 1) home prices go down as demand for owning decreases due to increased monthly mortgage payments 2) if you're a current landlord it's probably not a bad deal because more people will continue renting so landlords will stay happy
Didn't 40% of you boomers default on your mortgages just 8 years ago? A tab that I'm still picking up, making 6 figures and paying up the ass in taxes. You're welcome.
Millennial hurr wrote:
Not black but blanc wrote:Millennials can't buy homes due to horrible savings habits and student loan debt. Do prices have to come down? Plus when interest rates rise, it has two effects: 1) home prices go down as demand for owning decreases due to increased monthly mortgage payments 2) if you're a current landlord it's probably not a bad deal because more people will continue renting so landlords will stay happy
Didn't 40% of you boomers default on your mortgages just 8 years ago? A tab that I'm still picking up, making 6 figures and paying up the ass in taxes. You're welcome.
Zero down teaser rate on a $500k house when you make $30k/year. The lesser educated boomers are easily swindled. See Donald Trump.
TLW wrote:
TAA wrote:Millennials can easily buy homes. Just not in expensive places they feel entitled to live in.
Yup because all the best jobs are in Grashole, Kansas where you can buy a house for $100k.
There's plenty of cheap places with good jobs. Columbus, Indianapolis, Memphis, Cincinnati, Louisville, etc...
If you don't want to live in those places that's perfectly fine, but don't complain about not being able to buy a house when you're young.
Lolzy wrote:
Millennial hurr wrote:Didn't 40% of you boomers default on your mortgages just 8 years ago? A tab that I'm still picking up, making 6 figures and paying up the ass in taxes. You're welcome.
Zero down teaser rate on a $500k house when you make $30k/year. The lesser educated boomers are easily swindled. See Donald Trump.
I made a cash offer actually
Lolzy wrote:
Millennial hurr wrote:Didn't 40% of you boomers default on your mortgages just 8 years ago? A tab that I'm still picking up, making 6 figures and paying up the ass in taxes. You're welcome.
Zero down teaser rate on a $500k house when you make $30k/year. The lesser educated boomers are easily swindled. See Donald Trump.
I don't know of anyone allowing that any more. Or at least I hope not. I made cash offer to get the property over the competition and then refinanced since rates are so low right now
Not black but blanc wrote:
Lolzy wrote:Zero down teaser rate on a $500k house when you make $30k/year. The lesser educated boomers are easily swindled. See Donald Trump.
I made a cash offer actually
I'm not saying 100% of boomers (just like I'm assuming the OP isn't saying 100% of millennials) but if we are talking about millennials not owning homes, I think it's fair to point out the gullible baby boomers that bought homes they couldn't afford after being swindled. Millennials then had to share the losses. I also think it's fair to point out that Donald Trump further supports the fact that many baby boomers are easily swindled.
Not black but blanc wrote:
Lolzy wrote:Zero down teaser rate on a $500k house when you make $30k/year. The lesser educated boomers are easily swindled. See Donald Trump.
I don't know of anyone allowing that any more. Or at least I hope not. I made cash offer to get the property over the competition and then refinanced since rates are so low right now
Correct, that no longer happens because the government (that many boomers think is too intrusive) had to step in to save the boomers from being swindled after 40% of them defaulted on their mortgages and tanked the entire world economy.
Millennial hurr wrote:
Didn't 40% of you boomers default on your mortgages just 8 years ago?
No.
TAA wrote:
There's plenty of cheap places with good jobs. Columbus, Indianapolis, Memphis, Cincinnati, Louisville, etc...
If you don't want to live in those places that's perfectly fine, but don't complain about not being able to buy a house when you're young.
I'm not young and don't want to own a home (but can afford to). I also work in finance and getting a good job in one of those places would prove difficult. I feel like a lot of older people on this forum work as teachers, coaches, etc. Not a bad thing, but you cannot get some jobs in certain industries in these types of cities.