…could it be because they’re only affordable to first-time US homebuyers with generational wealth?..
It’s because all the realtors are woke!
I love it when a headline makes me audibly laugh, thought this was the onion for a second
This is a really, really stupid question.
I hear many millennials prefer to live in their cars. 🤡
The longer you live in a car, the more coffee and avocado toast you can have.
Maybe it has something to with home prices rising an average of about 7.5 % per year over the last 10 years which means more than doubling.
Bought my house 2 years ago and it had doubled in price since 2013.
Meanwhile, wages have not kept up, largely to support/advantage/non-impact for those who bought in earlier. Boomers take advantage of low taxes, low-cost services, etc. driven by low wages.
Even with low interest rates, the size of the necessary downpayment is prohibitive and exposure to interest rate related shocks are much greater.
And everything else is much more expensive for an expensive house, including insurance, which is also getting harder to get and more expensive due to climate change.
Tl;DR: Younger generations are not getting housing because of older generations. We all know the answer to this question…
Ya housing prices right now are a joke. What nobodies talking about is it doesn’t only affect buyers. Owners are getting screwed on their taxes. I am paying $500/month more this year than last in taxes alone.
Jesus fuckin christ are these people seriously asking that question??
Cost.
Everyone I know around my age that have purchased either bought before 2019 in the smaller cities of Texas where it was a house or it was sometime 2020-2022 when rates were sub 4% and home prices didn’t explode yet and those were condos. Also everyone was dual income or it was to co-own a house. I know one person that purchased by themselves but they sleep in the smallest room and rent out every other room to siblings and friends
Since some point in 2022, the only people I know that bought a home were a married late 30s couple that were high income and the home was like 70+ years old and a pipe burst and there turned out to be a lot of mold that made it unlivable for a period of time
“Holding off”? No, I can’t afford it. I’d love to own a home but my wage doesn’t keep up with inflation.
At today’s prices, a family would need to earn $126,700 a year to afford monthly payments on an average home purchased in 2024, up from $79,300 annually in 2021, according to a report from the Harvard Joint Center for Housing Studies.
We are so screwed.
And they think someone can save for a down payment how? If you need 6 figures to afford the payments who can do that and have a down payment?
Two posts down my feed is this:
Investors bought 27% of US homes in Q1, as traditional buyers struggle to afford
Being muscled out by cash paying conglomerates, investment funds and venture capital is always fun.
because the previous generation were all robber barons that drained the world for their personal gain at the expense of the children they insisted on having.
I watched my own father illicitly borrow millions of dollars by bullshitting other rich boomers, acquire vast acres of property across the country, promise the family he would pass it all down to us and our futures were set, then have everything taken away by courts as he and and the rest of my family drank themselves to death after snorting away every family assets on cocaine and other drugs.
I lost everything I owned after investing my time and energy into being there for my family and they just crashed out without any accountability to their next generation. Starting over in the middle of my life from nothing. I may never own property of any kind. I probably will never retire.
I feel like it was all just a microcosm view of what’s happening broadly. The legacy of the boomer generation is going to be crushing us for a century to come or maybe forever.
Can’t wait to take care of them in their adult diapers too.
In our one-bedroom apartments that we still struggle to afford. Not sure how we’ll be able to take care of them full time when we’re also still working full time.
And people think we can afford to save for our own retirements. Lol.
Been unable to afford a house since I first tried avocado toast circa 2008
Wages didn’t increase at the rate of inflation for like 80 years. The USA is now a shithole country in general and emigration out has reached all time highs, kids don’t want to buy homes here. All of the overseas investors looking to purchase US properties no longer trust in the USA due to volatility due to an actual dictatorship forming and heavy fines and tariffs being put in place by countries on either side of the issue.
I could go on.
It must be because of those dang woke DEI!
Those… those [Insert Other]!
