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30 years from now your homes may go up a lot just due to inflation as well . inflation took my original 30k home and made it a 600k home today more then 40 years later. about a 7% return .
but there were years it fell and years it went up a lot . you really will not know your deal until decades from now
You have bought into the lie of this fiscal system hook line and sink.
Homes in my area are priced FAR ABOVE THE MARKET. I don't care what they say the home costs. It is blown up artificially.
People like mathjak here like to rationalize it's all worth it.
I'd love to see all these prices crash down to reality. Something is blowing up their value to an unrealistic level.
My little depressed economy can't afford these homes, not without getting into debt way in over their head, which of course is irresponsible. Or at least used to be.
Not content unless you are swimming in debt above your head. Because the lender has all the leverage, and you need a roof over your head.
The boomers got rich not because of the job or market but because of real estate. 75% of baby boomer net worth is tied up in their houses. The millennials can't afford to buy ......
Last year 35% of the houses were bought by millennials. That is not too bad. I could not afford to buy a house when I was in my mid 30s.
Even though 35% were bought by millennials, many millennials are not into buying houses even if they can afford to do so. Urban living and single living have become very popular. The old dream of the suburban house is no where near as popular as previously.
Last year 35% of the houses were bought by millennials. That is not too bad. I could not afford to buy a house when I was in my mid 30s.
Even though 35% were bought by millennials, many millennials are not into buying houses even if they can afford to do so. Urban living and single living have become very popular. The old dream of the suburban house is no where near as popular as previously.
Yes but home ownership is at a 48 year low. The number of people who own their homes decreased by 400,000 since last year. What we see is wealthy millennials and retirees buying houses and hardly anyone else.
I'd love to see all these prices crash down to reality. Something is blowing up their value to an unrealistic level.
And what is reality? Some not being able to afford it doesn't mean their reality is the correct one when there are others who can afford it. i see a lot of people using "reality" as an argument, but they won't face the reality that they are just poor and keep trying to live like they aren't.
I agree that home ownership is down, but i disagree that it being unaffordable is the reason. people tend to job hop these days, buying a home requires longer term commitment to an area. when people aren't choosing to stay in the area, why would they buy a house? What use is a home even if prices did crash by 1/2 or something extreme if they will move away in 5 or so years? it's just rare that millennials decide to stay in the same area for 15+ years into the future.
for the future, if people continue to be so mobile. I could see those "time-share" condo groups just selling memberships. you pay $x and you can live in any of our properties throughout the country depending on where your next job is. no longer will you need to search for new apartments in each place, you just call up company and tell them where you are heading. the healthcare traveling jobs do this today, and it is pretty nice not having to find a place on your own sometimes. http://www.aurhomes.com/ is an example of corporate housing for their workers.
I don't know if this is true in all markets - but at the lower end of my RE market, any property under $200K is quickly snapped up by investors paying cash. It's hard for a millennial - who with a decent job probably could afford up to $200k - to compete. I was amazed how many low end properties are owned by consortiums of slumlord businesses. One of them was a Chinese business.
OMG- I think you may need to lay off the sauce a little before noon(!)
Quote:
Originally Posted by Mikelee81
With a nation in trillions of dollars of debt to China and generations burdened with student loan debt now loaned directly from the government, you don't think a military draft is a possibility?
Only this time, we could very well be seeing foreign troops on American soil. Don't think that's a possibility? The president has even hinted to the formation of a "Civilian National Security Force". As the Bible says, the borrower is slave to the lender. Thousands of young people burdened by student loans to their government, and I think they know exactly what they were doing.
Take away our currency and we only have our land.
Anyways I have a ton of respect for those that fought in these wars, this thread is not about the draft.
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