I Can't Afford It. Millennials Are Not Buying Homes.

1eyefishing

...just joking, seriously.
My two both own homes.
But I can see that if the political system millenials believe in will keep them in the poor house, it may be tough to believe that they ever will own a home and/ or build up individual wealth.
In my late teens or early twenties I would have never believed where I am today.
My kids don't believe in that system.
 
Thread starter #4
We got married in '79. In 1982, we had saved enough that I was able to buy some property, pay for a used mobile home, and get it ready to live in. Yeah, it was a 10 x 30, but it was mine. Then #1 baby came along. In 1984 I started building my house. I did all the work on the house except laying the blocks for the basement, nailing on the shingles, and I only hung about 1/2 the sheetrock. My appendix burst, and I was in the hospital for 10 days or so. I hired the rest of it hung and finished.

If you are willing to work, there are ways to own your home
 
Thread starter #8
We added on 4 bedrooms and 2 bathrooms, along with a new kitchen and sunroom back in 2000. It cost nearly twice what building my whole house did in 1984
 

Batjack

member #1313
After the age of 18 the closest I ever came to renting a place to lay my head was on vacation or out of town due to work... when I got home.. it was MY home. I ain't about to live in no apartment where my whole life can go up in smoke because some idiot fell asleep while reheating a pizza.
 
After the age of 18 the closest I ever came to renting a place to lay my head was on vacation or out of town due to work... when I got home.. it was MY home. I ain't about to live in no apartment where my whole life can go up in smoke because some idiot fell asleep while reheating a pizza.
I rented for many years before my wife and I decided to buy. The twelve units on the end were burned out when a kid fell asleep with a lit cigarette. They stopped the fire across the walkway from my unit. 16 units were a total loss. I had to move as there was 4 inches of standing water in my unit. The complex got me another unit. But I had to move again when that building was burned 5 months later.

I've rented over dozen apartments and can't remember them all.
 

Patriot44

Senior Member
I don't get it. I purchased my first home in Kennesaw at the ripe young age of 22. I left home at 19 but was never there during the 18 years. It is a mentality that I will never understand. Why on god's green earth would a young adult want to live at home until 30 I will never get.
 

Crakajak

Daily Driveler News Team
QUOTE="Patriot44, post: 12002525, member: 4754"]I don't get it. I purchased my first home in Kennesaw at the ripe young age of 22. I left home at 19 but was never there during the 18 years. It is a mentality that I will never understand. Why on god's green earth would a young adult want to live at home until 30 I will never get.[/QUOTE]Cause momma says so.....
 
Orlando went thru an apartment building boom after Disney was opened. Apartments were plentiful and cheap. They were offering rent breaks and often had free months rent for new renters. I moved every six months.

The complexes had a input of renters in the summer from all the young people Disney hired each summer. But they offered rental specials for the off season. Disney claimed they hired 13,000 young people for the tourist season. They had to live somewhere. And they weren't going to buy for 6 months.

They weren't low life idiots for renting. At that time and place it was the smart thing to do.
 

zedex

Senior Member
I rent now because I am here for my daughter but not here forever.
Renting can be seen as wasted money but not everyone wants to buy right, cannot afford it or are trying to figure their next moves.
I know one fella who is a very well paid machinist. Most of his work is in the oil field industry but has been shipped around the world to do jobs and GE has been trying to recruit him for years.

He used to rent. Then he would buy, sell and buy again. When work sends him out, he goes right way, often selling for less than purchase price. He went back to renting
 

Quepos1

Senior Member
My wife and I were discussing this just two days ago. Our home is 2100 sq ft and we bout two years ago to downsize for pending retirement. Presently our property taxes are $14,000 per year, homeowners &5,000 per year and insurance $3,000 per year. These figures do not include repairs, maintenance, lawn service.

We could rent an equivalent home for probably $25,000 per year and not have to worry about insurance, maintenance, etc. This why many choose to rent rather than buy and I did not factor a house payment as ours is paid for but a young person or couple would need the funds for downpayment plus ongoing house payment.
 

baddave

Senior Member
i've never rented anything more than a piece of equipment but i think there's reason for renting sometimes.. i think that every time i've needed a new hvac unit, roof , paint . just saying
 
I thought they figured the world is going to end in ______ (you fill in the blank) years anyway from global warming. My brother's son tells him our generation stole from his generation is why they can't seem to thrive. Kindof funny if you ask me.
 
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