Article in Seattle times talks about people in their 20s and 30s leaving Seattle due to high housing costs. (Vancouver: for sale, apartments)

[annonymous0381]

Loss of millennials could be other city

What do others think of this article? I'm a millennial myself. Buy my question is where will the millennials move? LA,San Francisco, Portland and San Diego are all expensive. No millennial wants to live in Sacramento, Boise, Salt Lake City or Las Vegas.

Almost 2 years ago I left the San Fernando Valley portion of Los Angeles and moved to Seattle for cheaper apartment rental prices. Currently I pay $1200 a month for a one bedroom 610 square feet apartment near the Northgate mall. The landlord charges new tenants $1300 a month for the same apartment as mine.

I really love and enjoy living in Seattle. If my landlord raises my rent when my lease ends in August 2017 to $1500 a month or $1700 a month I will be priced out of my current apartment unit. Looking on craigslist, Zillow and trullia I see very few choices for apartments for rent in Northgate Seattle currently.

I want to stay living in Seattle as long as possible. After spending almost 2 years in Seattle it makes me realize how much I hate LA. In LA an apartment to my liking would rent for $2,000 a month if not more.

Today I looked at condos online and noticed that for a 2 bedroom 2 bath for $300,000 in northgate Seattle seems non existent or vary hard to come by.

In Lynwood,WA I notice a lot of 2 bedroom 2 bath condos for sale under $200,000

[annonymous0381]

I knew a couple of people my age who moved to Phoenix,arizona and they were very unhappy and miserable there. They couldn't make any friends in Phoenix and hated the rude people, traffic, dirty hot air and sprawl. Phoenix has a high suicide rate and so does Las Vegas.

People in Seattle don't know how great they have it here. In Seattle we have very clean air, good restaurants, good museums, a great classical music scene and a good public transit system.

[annonymous0381]

I forgot to mention beautiful scenery in Seattle like Lake Washington and gas works park.

[Seacove]

This is a reality and we're putting down payments on townhouses for our sons so they don't get priced out of their home town.

[annonymous0381]

Originally Posted by Seacove

This is a reality and we're putting down payments on townhouses for our sons so they don't get priced out of their home town.

Thats a smart idea

[James Bond 007]

Originally Posted by annonymous0381

No millennial wants to live in Sacramento, Boise, Salt Lake City or Las Vegas.

LOL - how do you know? Are you telling me there's no 20-something or 30-somethings in those 3 cities?

[annonymous0381]

Originally Posted by James Bond 007

LOL - how do you know? Are you telling me there's no 20-something or 30-somethings in those 3 cities?

Im sure there are 20 and 30 somethings in those 3 cities.

[Canamlian]

Similar article about Vancouver written last year: Millennials, techies fleeing ‘insane’ housing market of Vancouver, B.C. | The Seattle Times

[flyingsaucermom]

Originally Posted by Seacove

This is a reality and we're putting down payments on townhouses for our sons so they don't get priced out of their home town.

Our plan is to do the same. We paid off our mortgage last year and we just started saving for the down payment on the next townhome. We hope to purchase before the first kid goes off to college (yes, he's not even in high school yet). Will rinse, wash and repeat for the younger son.

Ideally, we'll have three paid off units before either of them have graduated from university. We'll rent them out until either one or both wants/needs to live in them. If they want to relocate somewhere else then we'll have a choice to continue renting out or sell. If we can collectively swing it, I'd prefer that they live in them, just pay the taxes and HOAs and then put a lot more into their investments.

It's a very slow way to build up wealth and it's challenging to balance with investing for retirement and college.

[Seacove]

Originally Posted by flyingsaucermom

Our plan is to do the same. We paid off our mortgage last year and we just started saving for the down payment on the next townhome. We hope to purchase before the first kid goes off to college (yes, he's not even in high school yet). Will rinse, wash and repeat for the younger son.

Ideally, we'll have three paid off units before either of them have graduated from university. We'll rent them out until either one or both wants/needs to live in them. If they want to relocate somewhere else then we'll have a choice to continue renting out or sell. If we can collectively swing it, I'd prefer that they live in them, just pay the taxes and HOAs and then put a lot more into their investments.

It's a very slow way to build up wealth and it's challenging to balance with investing for retirement and college.

Exactly, we're renting the first one out now. Just need to get them started, they go to school here, their friends are here just need to get them a stake in the ground.