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

[srb]

Everything cost ?these days.......

 

[NE GA Pappy]

Can't qualify due to student loans.

which is another lesson on stupid.

Don't borrow money to go to school. It might take 2x as long to get thru, but pay for it as you go.

Or as a worst case scenario, at least get a degree that will allow you to make the big $$ and pay that loan off in a few years.

 

[dwhee87]

which is another lesson on stupid.

Don't borrow money to go to school. It might take 2x as long to get thru, but pay for it as you go.

Or as a worst case scenario, at least get a degree that will allow you to make the big $$ and pay that loan off in a few years.

Agreed.

 

[Quepos1]

I own a few pieces of property and all paid for. But, I see nothing wrong with renting for those that choose to do so. You spreadsheet all of your expenses on home ownership and it will frighten you at what it costs to own a home over a 20 year period, regardless of the appreciation. I'm not sure you come out ahead. Taxes, insurance, repairs, big ticket replacement items like HVAC, new roofs, lawn care...the list goes on and on. But, I never want to be in a position of someone telling me I've gotta move so I choose to own.

Kind of like vehicles. We have 2, both paid for. But, when you figure depreciation and all of the related expenses, it's about the same as leasing, if not more, particularly if you don't keep a vehicle more than 4 or 5 years and most don't. When I retire, I'll be leasing vehicles for the wife and me going forward. Drive em for 3 years, turn em in and get a new one.

Got a co-worker that Ubers to work and every where else he goes. Doesn't even own a vehicle. He's an IT guy and says it's cheaper than owning. When he takes a trip he just rents a vehicle it it's long distance.

I guess I said all that to say...To each his own.

I have several employees who live near downtown Houston and don't own vehicles but instead use Uber. When they must travel by vehicle they rent a car and the company mileage reimbursement covers the cost. On the other hand I have employees who live in rural areas and Uber is not an option.

In either case I don't care so long as they get where they need to be for work.

 

[Duff]

I'm an apartment maintenance tech. They rent because they wouldn't couldn't shouldn't begin to know how to keep a house up. Grown men don't know how to fix a loose toilet seat. I do it and they are amazed like I did a magic trick or something.

Lol.

Probably shouldn’t laugh. That’s pretty sad.

 

[LTZ25]

Young students are being way over charged by colleges and students are encouraged to take an extra year to get the degree and they can't resist the party life with football games to attend . When I was college age students worked their way thru school and there were no student loans , witch became available to ensure professors could be paid a high salary and work 6 months a year . A friend was just telling me hid daughter is fixing to start a course for P A and it takes 21 months and cost $110,000.00 . That is after the cost of nursing degree .

 

[Quepos1]

I believe the only ones profiting from student loan programs are the colleges and universities many of which have multiple billions of endowments.

 

[Pig Predator]

Has anyone had anything good to say about our millennials yet? Like the ones serving in our military, protecting our freedoms? What a waste of time to purchase for those folks. I bet they have a room in mommas basement too if they need it....I bet they even played call of duty a time or two.

 

[livinoutdoors]

Main problem today is people think they are too good for the lifestyle they can afford so they finance everything. Live within your means and dont worry bout anybody else. You will be much wealthier for it.

 

[ucfireman]

I feel the same way about rent, throw money away.
That said, if you like to move regularly or don't want to have to make repairs or do upkeep than it makes since.
I have a mortgage on my place, will be paid off in about 7 more years. I don't have anyone to leave it to so I wonder, whats the point in paying extra to pay it off early when I could spend the money on "fun stuff"? But I will not have to pay rent or mortgage when I retire.

 

[Ruger#3]

Not all millennials fit this mold. Hired a young man straight out of college into an entry level position. He shared an apartment with a buddy as he was working on his masters degree without taking out a loan. He worked full time while going to school, evenings. His performance was excellent, I promoted him to manager after about 18 months. He stepped right up and did a great job as a manager. We have sense parted ways but I’m working on a position for him on my present job. He’s a great guy to have on your team. Folks like him haven’t hit that point in their professional or private life to sink roots.

 

[ucfireman]

mine says "i would rather have experiences than things"

i respond, "good luck with that when you get old"

Better to travel and play while young than waiting for retirement when you cant move do to back injuries or too sick

I'm an apartment maintenance tech. They rent because they wouldn't couldn't shouldn't begin to know how to keep a house up. Grown men don't know how to fix a loose toilet seat. I do it and they are amazed like I did a magic trick or something.

That is true but I will say this, If you have a maintenance man (or dept) than they should be fixing things. The Dept I work for expects us to make fixes around the station (which we can mostly do) and not have the maintenance crews do them. But if you break something in the attempt to repair, they will not buy the parts to fix it (expect us to out of our pocket) or say "why didn't you call maintenance"?
So I don't fix anything at the station. I don't get paid to do that. I get paid to fight fires and do EMS. I don't expect maintenance to fight fire for me.

 

[westcobbdog]

Have sold some millennials homes and most are pretty sharp and both diligent and hard working with good jobs.

 

[elfiii]

Entire generations get characterized based on the excesses of their minorities when in fact the vast majority are not like that at all.

 

[KyDawg]

Has anyone had anything good to say about our millennials yet? Like the ones serving in our military, protecting our freedoms? What a waste of time to purchase for those folks. I bet they have a room in mommas basement too if they need it....I bet they even played call of duty a time or two.

I know a lot of fine hardworking Millennials. My only issue with millennials is the ones that go to college to get an education, and end up brainwashed. Certainly a lot of them have fought and died for this country.

 

[mguthrie]

Have sold some millennials homes and most are pretty sharp and both diligent and hard working with good jobs.

I'd say 2/3 of the houses I frame are bought by millennial's.

 

[LTZ25]

Of course all millennials are not lazy , but the squeaky wheel gets the grease , I’ve got a millennial son that’s a hard working guy doing great in business.

 

[sinclair1]

Young folks now are gen Z right? I have a 17 yr old across the street spoiled rotten and doesn't drive. Momma driving them around all day to practice and about to head to college with no driving experience.

 

[Quepos1]

Young folks now are gen Z right? I have a 17 yr old across the street spoiled rotten and doesn't drive. Momma driving them around all day to practice and about to head to college with no driving experience.

many young kids today have no interest in driving or cars for that matter which is one reason for the decline in attendance and tv viewership of NASCAR. As I stated earlier I have several professional employees who are in the mid to late twenties who don't drive or own a car. They have licenses and will rent a car when needed

 

[LTZ25]

many young kids today have no interest in driving or cars for that matter which is one reason for the decline in attendance and tv viewership of NASCAR. As I stated earlier I have several professional employees who are in the mid to late twenties who don't drive or own a car. They have licenses and will rent a car when needed

Good point, In my days cars meant girls !!!! Now it it’s not that big of a deal .