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Yes, I think it will still be viable. However, I think the real estate industry and United States culture in general pushes home ownership on to too many people. Not everyone is qualified to own homes and renting is a better option than owning for many.
Owning a home is a huge expense and you increasingly need a VERY good job in order to get one. However, with the way employers and business' keep trying to screw over and pay as little as possible it's difficult just getting a decent apartment and paying all the other bills.
Do you think home ownership for young people today and in the future is just a pipe dream for most?
Depends on the state and the area within the state. Im sorry to say that the general area I live in has gone from reasonable pricing to outrageous pricing over the yrs. So called starter homes, those small capes and ranches that many newly married couples started in are being bought my developers and torn down so they can build 500,000 and up houses instead. Its bad here.
Owning a home is a huge expense and you increasingly need a VERY good job in order to get one.
Compensation is a reflection of value-add to society. Yes, you need to add quite a bit of value to society to afford a mortgage payment.
Quote:
Originally Posted by Zengha
However, with the way employers and business' keep trying to screw over and pay as little as possible it's difficult just getting a decent apartment and paying all the other bills.
It isn't about what employers pay. It is about what value the employee creates. The onus is on the employee to add value. If you'd like to discuss this concept more, let's go over to the Economics sub forum, shall we?
Quote:
Originally Posted by Zengha
Do you think home ownership for young people today and in the future is just a pipe dream for most?
Life is all about achievement and priorities. It is about unlimited wants & desires in a world of limititations. Some pass the marshmallow test; others do not.
I'm on the other end of the spectrum. I hate home ownership but I'm getting old. it's a money pit. looking at a 20K expense now in fixing a stucco/roof leak problem.
I'm planning on selling in another 2 years and God willing I'll never own another house as long as I live. lol
It's rough as you get older. The issues of both cost and energy. I'm in the market to buy, but we're looking for the smallest house we ever bought. And, w/ little maintenance. I don't care if 2 mice can fit in it as long as I don't have to deal w/ multiple problems. Been there and done that in Arizona. House from hel*. We sold it and it was good riddins! Nice home, but no one before us fixed underlying issues. We were naive. We aren't now!
Depends on the state and the area within the state. Im sorry to say that the general area I live in has gone from reasonable pricing to outrageous pricing over the yrs. So called starter homes, those small capes and ranches that many newly married couples started in are being bought my developers and torn down so they can build 500,000 and up houses instead. Its bad here.
Definitely. I was able to get a condo in a really awesome area in my last city for an affordable price, and while it’s gotten pricier, it’s still insanely affordable there considering it’s a beach community. I’m now in the Chicago area and am renting because the taxes make it much harder to buy.
Owning a home is a huge expense and you increasingly need a VERY good job in order to get one. However, with the way employers and business' keep trying to screw over and pay as little as possible it's difficult just getting a decent apartment and paying all the other bills.
Do you think home ownership for young people today and in the future is just a pipe dream for most?
Well, in my mailing area, land is going for $99K-$165K (Houses go for those prices, but they are mobile/manf homes not worth it) and then save for the building of a house. IF there was a couple working at my employer, they'd make about $58K a year combined, live out of an RV for 3 years and buy the land. Then live on the land while saving to build the house.
Yes, I think it will still be viable. However, I think the real estate industry and United States culture in general pushes home ownership on to too many people. Not everyone is qualified to own homes and renting is a better option than owning for many.
Agreed. It’s not the end of the world if a person doesn’t own a house. Billions of people all over the world are getting by just fine without home ownership. Let them get it when they’re ready.
Yes, I think it will still be viable. However, I think the real estate industry and United States culture in general pushes home ownership on to too many people. Not everyone is qualified to own homes and renting is a better option than owning for many.
I think it's the opposite. I think we have too many renters that don't know that with what they pay for rent they could own a home instead. Some don't want to buy and the responsibility and that's fine. Some have no other choice but to rent.
Owning a home is a huge expense and you increasingly need a VERY good job in order to get one. However, with the way employers and business' keep trying to screw over and pay as little as possible it's difficult just getting a decent apartment and paying all the other bills.
Do you think home ownership for young people today and in the future is just a pipe dream for most?
i think there's some truth in those statements, especially where prices for starter homes are very high. I also think student loans will be the new mortgage payment for some young people well into the future. Banks don't care since the same banks that under write student loans also under write mortgages. The banks still get paid regardless of your choice.
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We sold it and it was good riddins! Nice home, but no one before us fixed underlying issues. We were naive. We aren't now!
