Why can't young people afford houses?

147,719 Views | 1491 Replies | Last: 17 hrs ago by cowboycwr
boognish_bear
How long do you want to ignore this user?
J.R.
How long do you want to ignore this user?
But, Amy that is Oklahoma.
boognish_bear
How long do you want to ignore this user?
boognish_bear
How long do you want to ignore this user?
boognish_bear
How long do you want to ignore this user?
boognish_bear
How long do you want to ignore this user?
boognish_bear
How long do you want to ignore this user?
boognish_bear
How long do you want to ignore this user?
Damn son

boognish_bear
How long do you want to ignore this user?
boognish_bear
How long do you want to ignore this user?
boognish_bear
How long do you want to ignore this user?
cowboycwr
How long do you want to ignore this user?
boognish_bear said:




The major problem with continuing to rent while waiting to buy is that it is hard to time your lease to go with an unexpected crash. Then you miss the chance to buy because you still have X months left on your lease.
J.R.
How long do you want to ignore this user?
cowboycwr said:

boognish_bear said:




The major problem with continuing to rent while waiting to buy is that it is hard to time your lease to go with an unexpected crash. Then you miss the chance to buy because you still have X months left on your lease.

I know this doesn't fit everyone, but I mainly rent by design. Rent in Dallas (don't want a house, been there, done that), . Can't stand having cobble together the property taxes every December. Don't miss the upkeep. I know it is baked into my rent, but if something goes out, I have a brand new one that day. Don't have to have a pool guy or yard folks as that is provided. Just my housekeeper 1 time per week. Rent in Bangkok as you have to be Thai to own the dirt the house sits on. Own in Colorado (taxes manageable). I make sure I invest any uplift in appreciation that I miss.
cowboycwr
How long do you want to ignore this user?
J.R. said:

cowboycwr said:

boognish_bear said:




The major problem with continuing to rent while waiting to buy is that it is hard to time your lease to go with an unexpected crash. Then you miss the chance to buy because you still have X months left on your lease.

I know this doesn't fit everyone, but I mainly rent by design. Rent in Dallas (don't want a house, been there, done that), . Can't stand having cobble together the property taxes every December. Don't miss the upkeep. I know it is baked into my rent, but if something goes out, I have a brand new one that day. Don't have to have a pool guy or yard folks as that is provided. Just my housekeeper 1 time per week. Rent in Bangkok as you have to be Thai to own the dirt the house sits on. Own in Colorado (taxes manageable). I make sure I invest any uplift in appreciation that I miss.

Did you not pay your property taxes as part of your mortgage? I always have and have never had to worry about paying property taxes.

When renting I have NEVER gotten repairs done same day. Maybe next day. Even then if something needed to be bought that was major (appliance, expensive part, etc) it took several days to get approval to buy and then install.

Pool..... the community pools are gross. Over chlorinated to compensate for the stuff in there. Even the nice apartment complexes have lots of issues.

Yards if that is what you call the strip of grass at apartment complexes get full of all the dog crap the owners don't pick up so you have no where to play with kids or actually enjoy the yard/grass space.

J.R.
How long do you want to ignore this user?
cowboycwr said:

J.R. said:

cowboycwr said:

boognish_bear said:




The major problem with continuing to rent while waiting to buy is that it is hard to time your lease to go with an unexpected crash. Then you miss the chance to buy because you still have X months left on your lease.

I know this doesn't fit everyone, but I mainly rent by design. Rent in Dallas (don't want a house, been there, done that), . Can't stand having cobble together the property taxes every December. Don't miss the upkeep. I know it is baked into my rent, but if something goes out, I have a brand new one that day. Don't have to have a pool guy or yard folks as that is provided. Just my housekeeper 1 time per week. Rent in Bangkok as you have to be Thai to own the dirt the house sits on. Own in Colorado (taxes manageable). I make sure I invest any uplift in appreciation that I miss.

Did you not pay your property taxes as part of your mortgage? I always have and have never had to worry about paying property taxes.

When renting I have NEVER gotten repairs done same day. Maybe next day. Even then if something needed to be bought that was major (appliance, expensive part, etc) it took several days to get approval to buy and then install.

Pool..... the community pools are gross. Over chlorinated to compensate for the stuff in there. Even the nice apartment complexes have lots of issues.

Yards if that is what you call the strip of grass at apartment complexes get full of all the dog crap the owners don't pick up so you have no where to play with kids or actually enjoy the yard/grass space.



no I didn't pay taxes with mortgage. House was paid for. I . I'm fairly heavy in the multifamily space and know what that looks like . That isn't what I'm talking about in renting ect. Both places I live are high rise A class buildings with all amenities. Our pools are like Vegas. Cleaned every day. Not a strip of grass as you say. Seasonal flowers to the max and my building is on the Katy Trail, so I have nature. I suck at fixing things and hate the upkeep on a trad home. renting in high rises works for me as my kids are out of house and am quasi single and lock and leave a lot. Just point out there are other ways to skin the house cat. They way I look at both places is I have the amenities, pools on roof, workout facilities, sauna, steamroll. co working spaces. 24 hr concierge. I like knowing all my neighbors . In Dallas, I have friends from 25(parents must subsidize rent) to 75 and everoney hangs out and are friends. Throw in a couple of Finnish Hockey Players and it is really livable. only 3 cheep bills I$20K last year to fix wood floors due to fridge leak. n each place. Owing in CO is just a hassle. Great, but a hassle with snow ect. Spent
Redbrickbear
How long do you want to ignore this user?


boognish_bear
How long do you want to ignore this user?
boognish_bear
How long do you want to ignore this user?
J.R.
How long do you want to ignore this user?
lil Danny Twink can't afford a home cuz his parents basement is cozy. Got his gaming set up. No need to move out. Get a job maybe, naw, his parents still support him.
boognish_bear
How long do you want to ignore this user?


We are not prepared for the uncharted housing market territory ahead of us

We hear about the large boomer generation, their stake in US homeownership, and the coming "Silver Tsunami"

But we don't have any context for it

Throughout history, generations passed on and their housing has recycled through the system to larger generations coming after them. Most households owned one home and there was never any flood of supply or pricing problems

But there also has never been another generation that both

A. Is this huge
B. Owns so many US homes

Boomers love houses

How many of you have a boomer uncle or grandparent who owns 2, 3, 4 houses?

Maybe a primary, a vacation home and rental too?

Never before in US history has so much of the middle class of a generation owned multiple homes like this

The number of 65+ households owning multiple homes has 5x'd since 1970

The resulting effect is that for ~1/5 boomer households that pass away, 2-3 properties may hit the market at once

And the upcoming generations to absorb all these properties are not large in size and are not coupling at the same rate

We've never lived through anything like this before
cowboycwr
How long do you want to ignore this user?
boognish_bear said:



We are not prepared for the uncharted housing market territory ahead of us

We hear about the large boomer generation, their stake in US homeownership, and the coming "Silver Tsunami"

But we don't have any context for it

Throughout history, generations passed on and their housing has recycled through the system to larger generations coming after them. Most households owned one home and there was never any flood of supply or pricing problems

But there also has never been another generation that both

A. Is this huge
B. Owns so many US homes

Boomers love houses

How many of you have a boomer uncle or grandparent who owns 2, 3, 4 houses?

Maybe a primary, a vacation home and rental too?

Never before in US history has so much of the middle class of a generation owned multiple homes like this

The number of 65+ households owning multiple homes has 5x'd since 1970

The resulting effect is that for ~1/5 boomer households that pass away, 2-3 properties may hit the market at once

And the upcoming generations to absorb all these properties are not large in size and are not coupling at the same rate

We've never lived through anything like this before

Is this really the problem he makes it out to be?

I mean if all of these boomers were dying and selling their houses within a 2 or 3 year period it would be a huge surplus of houses. But this will take place over 20 years or more.

It is similar to the retirements of the boomers. It opened up a lot of jobs and is still doing so but did not "crash" the workforce in any sort of way like to would have if they all retired at the same time.
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.