Attitudes of Young Americans Bode Ill for Housing Recovery (lawyers, value, points)

[TuborgP]

Great article and food for thought on the prospects for a housing recovery.

Attitudes of Young Americans Bode Ill for Housing Recovery - Forbes

The lack of assets isn’t the only encumbrance to housing: Echo Boomers value education, people and leisure more than other American generations. Of the Echo Boomers I spoke with, 13% were homeowners, yet less than a third reported interest in owning a home someday (with female Echo Boomers wanting homes more than male Echo Boomers). They preferred graduate degrees

[mgt04]

I'm an echo boomer as defined by the article. I think its a pretty good article and there definitely lies some truth to my generation (I was born in '81).

I always felt my generation was way spoiled. We may have not been at fault for all this economic mess, but we are definitely going to be stuck with the bill and I don't have any faith in my generation being able to deal with it properly.

[TuborgP]

Originally Posted by mgt04

I'm an echo boomer as defined by the article. I think its a pretty good article and there definitely lies some truth to my generation (I was born in '81).

I always felt my generation was way spoiled. We may have not been at fault for all this economic mess, but we are definitely going to be stuck with the bill and I don't have any faith in my generation being able to deal with it properly.

I would say my son and daugter inlaw would agree with you.

[middle-aged mom]

Silly generalizations......

Echo boom has been recently defined as barely out of college - still in elementary school. People in this age group generally were not focused on home ownership.

The oldest boomers ( turned 65 this year) were not interested in housing at this former stage of their lives. The press at the time defined them as the Woodstock Generation.

[jp03]

Originally Posted by mgt04

I'm an echo boomer as defined by the article. I think its a pretty good article and there definitely lies some truth to my generation (I was born in '81).

I always felt my generation was way spoiled. We may have not been at fault for all this economic mess, but we are definitely going to be stuck with the bill and I don't have any faith in my generation being able to deal with it properly.

If anyone is spoiled it is the baby boomers..not the "echo boomers".

[davecj]

I fall into this as well. Since the recession I've purchased or copurchased 4 homes around Baltimore so I'd like to think I'm doing my part.

[accufitgolf]

I think a real part of the problem is a younger generation that has been brought up on do not worry if you made a bad decision we (liberal retail return policies, lawyers, credit cards, etc.) are ready to bail/help you out versus take responsibilty for ones action like buyer beware, do not sign it unless you know what it is, do not buy it unless you can afford it, etc.

Not simply a real estate issue.

[Osito]

I have no interest in buying a house at this time in my life; besides the fact that I couldn't afford it anyway, I'd hate to think I could never not just pack up and move when I want without a lot of baggage, so to speak. I'm not even interested in marriage or kids, and I just don't see homeownership in my future.

[Cletus Awreetus-Awrightus]

Originally Posted by middle-aged mom

Silly generalizations......

The Rising Age Gap in Economic Well-Being | Pew Social & Demographic Trends

i would say that some of those generalizations are not silly; they are accurate.

[middle-aged mom]

Originally Posted by Cletus Awreetus-Awrightus

The Rising Age Gap in Economic Well-Being | Pew Social & Demographic Trends

i would say that some of those generalizations are not silly; they are accurate.

Someone who has been in the workforce for 30 years is likely to have more accumulated wealth than someone just starting out.

This quip points to those 65 and older in 2009. That was the tail of the prior generation. The oldest boomers turned 65, this year. The youngest boomer has an additional 18 years before hitting 65.