Why don't millennials own homes?

>>133428079
WHATEVER HAPPENED TO THAT OLD CUNT?

>>133428079

personally i'm waiting for another recession to buy

>>133428207
Died in a car crash.
Also, I miss the Steve-o millennial poster

>>133428079
does that cunt even own a home? does he even own a working cell phone?

>>133428079
houses cost too much, jobs don't remunirate enough

>>133428314
No, Chris Pontius is still alive. Im sure he settled down though

>>133428079
A mixture of college debt, poor work ethic, unemployment, under-employment, fluctuations in the housing market, indifference to family life, weak communities, and so on.

>>133428079
No money...inflation isn't passively paying off my fixed interest loans.

>>133428312
pretty much this. Its coming.

>>133428079
Yes, student loads are a huge burden, but I've found that Milennials in general have horrible spending habits. It really doesn't help that the government and education system basically force every student to go take out what pretty much accounts for a mortgage or car payment for an education.

My city (Pittsburgh) is pushing this program that forgives student loan payments if they buy a house.

For me it's utility bills going up every fucking time

>>133428079
Housing crash. Home ownership is overrated.
t. Investor, that has a home, and hates it.

>>133428079
To expensive, median house price in Sydney is $1mil, it would take me close to 20 years just to save for a deposit.

Never let chinks flood into your country.

I own a condo. Although I argue that i'm not really a millennial since I was born in 84.

>>133428079
they have fantasies of living some kind of neo-bohemian nomadic lifestyle in which they continuously pay the rent jew to boomers while they complain about boomers fucking up the world

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90% of people on this board would be classified as Millennials. Why does /pol/ talk about Millennials like they aren't just that.

I'm 27 and I'm a homeowner

Easy. Boomers thought it would be a great idea to enrich themselves at the expense of the next generation by getting into the house flipping business. Buy a house cheap, jack up the price, profit. Now houses are astronomically expensive.

>>133428079
Why would I buy a house now when we're heading towards anarchy anyway? All I really need to own is a rifle and some ammo and soon enough I'll have a house for no cost.

Cant afford that shit, probably never will

>>133428079
Rat u mean. Puwe rite canadese own many home. You non rite rusers awe just upset at stwong Canada men

>>133428923
Haha, nice one Jew. 90's kids aren't millenials

>>133428949
there was a massive correction in the market not that long ago. Things aren't nearly as out of hand as they were.

>>133428079
Avocado toast.

They do not beware the green jew.

>>133428626
I'm '91 and live very conservatively economics-wise. not many are like me but we exist.

planning to save as much over the next couple years and buy a house once the market corrects. build up equity into mortgage, flip for small profit then buy nicer property.

I've never had an apt still with parents but I don't mind. I'm ok to live like shit in my mid 20s so I can save for a better life in my late 20s.

again not many are like this but we do exist.

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>>133428079

Hatred of the ALMIGHTY, student (((debt))), degenerate marxism.

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>>133428727
>Home ownership is overrated.

This.

t. Living the white trash dream in trailer that costs $250/mo to park.

It's nice to put 3/4 of your income back every month.

>>133428976
Aww. That's adorable

>>133428079
No one wants a stake in the future of America.

>>133428079
>member of jackass crew.jpeg
>why don't millenials X?
why do YOU keep making this thread?

>>133428079
Most of them are worthless contribute nothing to society go to college for nothing blame everyone else for college debt NEETS

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>>133428727
The real secret is the housing market didn't really crash. The values are still at artificially inflated levels. Just compare construction costs to appraised costs. We have a housing surplus in America, yet home ownership AND occupancy is at an all time low. Millions of single family residences across the country are empty, held in portfolios by dummy LLCs upon LLCs to hide this.

>>133429107
http://genhq.com/generational_birth_years/

>>133428949
>FUCKING BOOMERS!!!1!
>Buys Starbucks for the 8th time today

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Welcome to Seattle

>>133428079
Because they eat avocado toast.

Houses are not a good deal like everyone thinks. I can rent a nice apartment for the better part of a year on the money it takes a home owner to replace their hot water heater. I can pick up and move short notice. When my dish washer makes a funny noise I just call the landcuck.

Maintenance+interest on loan+taxes+insurance= the price of a decent apartment

Then the value of your house rises at about the inflation rate while the rentor can invest his money at much higher stock market returns.

>>133428079
Shitty work ethic because their boomer parents provided everything they needed for them for their entire lives so they have no desire to actually go out and support themselves by getting a legitimate job in any field other than retail and fast food.

Also their basket weaving degrees don't help.

>>133428727
How could you possibly hate being a homeowner?

>>133428079
hoarding by international banking corporations, who are acting in trust to fix the prices higher than the market supports. most properties would be worth a twentieth or less of their current 'market value', if the market was allowed to balance freely. boomers literally cannot afford that, and, as always, they're more than happy to let their children pay for it in their stead.

>>133429668
Post a screenshot of your brokerage account or you're a LARPer

>>133429156
Here's a simple formula.

If the monthly rent equals 1% of the purchase price its worth looking at buying.
if its .5% don't touch it.

>Australia is running at .3% now.

>>133429668
Yeah, it really is individual based.

If you can snag a mortgage that matches your rent or close, it's generally smarter to bite the bullet and get the house, if you can also afford the down payment etc. But now you're responsible for property taxes and upkeep.

It's always better to own for equity purposes, but it's not always viable.

I'd also consider a condo equally smart if you're in a thriving city.

>>133429164
oh you're really sacrificing living rent free at home with Mom and Dad
pathetic - there are plenty of leaches like you - you're nothing special

>>133429921
He's right though!

Why invest in an asset returning 2-3% at the height of the market when you can get 6-7% + via an ETF with no effort or costs?

>>133428079
Falling for the rent meme. This is a consequence of urban cosmopolitan living. I'm not sure why so many people like that way of life though

>>133429740
You are reasonable for everything with a house. Something breaks you have to fix it.

>>133429999
I pay rent and pay towards food and help with other bills when I can. all while saving and scaling my monthly income higher yoy

but this wouldn't be 4chan without hyperbole and raw assumptions lacking evidence

>>133430313
That's where the best jobs are, particularly when you're starting a career. Once you have experience you can go out to the burbs and settle down.

>>133428079

Because they are lazy ass baster children that don't work, or are too much of pussies to get out of bed in the morning.

>>133429948

Shit bro we 2% out here.

Although the the math tends work out in such a way that only old/shitty houses hit the ratio

>>133429965
once you get equity it's easier to move into other property ownership too. it's an asset to diversify away from all liquid capital. if you can afford the down payment it's usually always worth it, even riding out a bubble since houses can appreciate unlike some assets(cars, tech)

>>133430106
why not both?

>>133429740
Let's see...
Property taxes, ridiculous size of house compared to needs, maintenance costs, HoA fees/bull(thankfully mine isn't too bad), etc.

The only bright side is owning (in Phoenix), especially having bought 4 years ago when prices were still depressed, just barely beats renting, and I have solar.

Home ownership isn't a path to wealth, investing in income producing assets or capital ownership(stocks) is. The middle class is fucking dumb for putting all their eggs in home ownership basket, and outside of fucktarded NIMBY markets like the bay area/Seattle, you should think of housing as an expense and shelter need, not investment.

Tax payers work under a capitalist system. The compete to produce more and what they produce is better. The have a bourgeoisie class that rules over them that is Marxist who take that production and distribute to non working degenerates and import more Marxist susceptible ignorant masses. The counter to this rational socialism. A system in which the producers are protected from bourgeoisie crushing the producers and breaking the system. A system where the producers keep more of what they produce. Sadly the bourgeoisie have used mind control via propaganda (news, TV, movies, education) to automatically associate the solution with bloodlust and tyranny. Simple enough for you.

>>133428502
Is he? I remember he was 'the sane one'.

>>133429214
I wish I could trailer park it up. Unfortunately, Phoenix. The lack of quality insulation on a trailer would probably spike utility costs through the roof, also solar, also, unfortunately, garage.

I look forward to it in the future!

>>133430319
Yeah but you can have a dog, kids, paint and decorate, put in a hot tub, build a new barbecue, etc.
Rented means beige everything and you can be thrown out whenever if your landlord hasn't been paying his mortgage, or with a few months' notice if he wants to sell. Great way to raise a family...

>>133430693
I'm in Seattle and laugh at the virtue signaling liberals with "SCIENCE IS REAL, BLM, ETC" signs next to NIMBY signs encouraging everyone to vote against bringing down the exorbitant rents by building yuge apartment high rises.

Rip in piece Steven O.

>>133428079
they spend all their money on avocado on toast

>>133430693
it's not about getting rich, it's about having a financial asset that's stable. stocks/bonds/currencies are literally digits on a computer. property is a physical tangible asset with real-world value.

don't get me wrong, digits on a screen are great. but owning property as a normie is about diversification not becoming a millionaire real estate mogul

>>133430668
If I were 21 and had $50,000 I'd put it into shares before property.

If I were 40 and had $500,000 then diversification for sure.

The problem with homes at a 2% ROI is the Capital Growth ceiling. Local wages can't be sucked any drier rental wise and nothing is showing there'll be any further growth. It will either plateau or drop in value slightly (which isn't foreseeable either)
Its just a tax deduction essentially, but you have to make it to take it.

>>133429679
Bullshit, the actual problem was the housing and financial collapses that left our parents who were already exhausted from the fake Oil war completely broke. My family lost their stocks my dad lost his lifelong savings.

Oil executives and their families will die in the worst ways once millenials realize that after working twice as hard as their parents did as kids, they are 1/4 as far along toward retirement. I wouldn't be insulting them I would be building a safe room or aligning myself with the upcoming purge

>>133428207
after years of taking a cock to the ass and shitting on things all while under the influence of alcohol and drugs. I have finally amassed a small fortune of fuck you money

>>133431154
>>133429161
>>133429619
I won't lie, I eat a lot of avocado toast on fancy bread with all kinds of nuts/flax/fibery things in it.

It's delicious as fuck.

But I also buy my avocados and make it myself.

And it's still expensive.

>>133429164
I'm in the same boat. I help my parents pay bills, around the house, and spend my own money on food and stuff for me. As long as you help your parents, have a healthy relationship with them, and actually save, it's not a bad thing. Everybody just seems to want want want now without having to think smartly or frugally with the future in mind.

>>133431288
Good job Chris, I hope it wasn't Steve O's cock, I'm told it looks and tastes like Avocado, on toast.

>>133430693
You fell for the mortgage jew. Build your own, save your money. By the time you are finished it will be worth 5 times what you build it for.

many reasons

1. The shift of millennials to higher cost of living areas where a middle class individual could never afford a mortgage for the cheapest houses, so would need to buy mostly in cash.

2. The supply of houses is very low as more and more people are renting out instead of selling, and as large companies are buying up houses. So often times there are literally zero houses for sale in certain areas.

3. Mellenials lived through two recessions in a decade and a major housing crash, and despite their reputation they are often times more financially knowledgeable than their parents. A lot of mellenials see leveraging your entire life savings 5x on a single real estate property as an extremely risky investment.

4. Mellenials outside of urban areas make very little money.

>>133428079
>Why don't millennials own homes?
I do my baby boomer parents have three and I inherited all three

>>133431279

What the fuck are you even talking about. Housing bubble is because of Oil companies too now? God damn if they were that powerful and smart one would think oil market wouldn't have crashed recently.

Weakness

>>133431583
>2 recessions in 1 decade
>check drudge, record stock market
make that 3 in 2, shit is going to hit the fan soon

>>133428207
>>133428502
He lives in a nudist colony.

>>133431583
who are these companies buying properties? what's the deal w that are they holding companies or real estate dev firms?

>>133431342
what the fuck? why? That's gay as AIDS.

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IMPORTANT PLs respond

What age range do you consider a millennial to be?

>>133428079
>>133428314
>>133428502
>>133431826
idk what to believe anymore

>>133431764
This. It's all going to crash and make 29 look like a mild recession.

>>133432022
The dogs arse looks better.

>>133429107
Fucking leaf

>>133428312
Good plan, I bought 3 in the first few years of the last recession. Shit is looking like a bubble now, people around here are remuddling and flipping for double. The postal carrier guy just told me he heard you could into property investment with zero down...
>>133431279
Hey fuckhead, the only people that "lost everything" in the market in 08 were the retards that took all their money out at the bottom.

>>133431990
Avocados are a great source for healthy fats, and when combined with healthy breads it's a well rounded start to your day.

Low glycemic, high nutrition, high calories, no crash.

You need to start eating healthy anon.

Start with steel cut oats, blueberries, and a little half and half. You'll shit great and feel great.

You'll be great.

>>133428079
Two words:

Avocado Toast

>>133431350
I think kids are in so much debt and have so few prospects they feel dejected and jaded about saving. many have the "why bother?" attitude

and if they owe 6figs with minimum payouts reaching completion in their forties I can't blame em honestly.

I'm lucky that I paid off all my debt by age 22 so I've been debt-free for years. it's a very small but noticeable feeling to wake up knowing I'm not straddled with insane payments for decades. I feel for the ones who are and I kinda understand why they'd piss away their money into drugs or partying rather than saving. not a great choice, but I understand why

>>133431199
>
Stocks can be stable too. Berkshire Hathaway, Coca Cola. Not only that, but over the long term, if you can stomach the stomach turning drops, do you even know what 10% CAGR is over 40 fucking years?

>>133431279
>works 15 hours a week at Walmart
>buys Starbucks twice a day
>blew tens of thousands of dollars on a gender studies degree

>shocked that they won't retire as quickly as their parents

>>133432086
The stock market rises 2/3 of the time. At any given time, something like 80%, the stock market is within 10% of "ALL TIME HIGHS".

>>133428079
Hey its party boy
https://m.youtube.com/watch?v=dgN0QHfexDQ

>>133432499
boom bust cycle, depending where your money is allocated you could be wiped out if you're not (((diversified))) and companies fold.

You're fine in indexes and shit if you look long term of course. But if a huge percent of your portfolio is in a flash in the pan like SNAP you can get burned and die

Thankfully most people don't invest themselves, so they're managed conservitardly

>>133432378
A fair point

>>133428079
There's no women worth building a life with, so there's no point in owning a home unless you just want some solitude or something.

>>133432499

This. its been like 4 years of near "all time highs" since the prices hit 2008 levels in 2013, and that's not even counting dividends.

>>133432794
All time highs, with the Fed artificially inflating things with low rates

When those rates rise, and they have to, shit will hurt because people are STILL over leveraged

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>>133428079

>>133432022
1994 - 2006

>>133432111
faggot

>>133432960
And this is coupled with a masssssive tech bubble.

Start-ups are fucked, the kings will remain.

>>133428756
+1

>>133429337
Construction is improvement cost, appraisal is land + house cost. You're an idiot

>>133432697
Yeah, I don't touch stupid social media 2.0 web garbage. I should touch FAANG(FB/AAPL/AMZN/GOOG) but I try to head towards value stocks when doing individual stocks... My tech exposure is Micron(and Intel, which is a low PE stable mature dividend payer) which is a dangerous stock to play with, but I got it on the last down cycle, and the future is bright. Up 40k.

My favorite stocks I own though are SNA(Snap-On, premium tools) and BRK.B which is finally in my ROTH. 401k is all indexes, Roth is 1/2 indexes, taxable will be moving to ~50% indexes over the next 3-5 years.

but picking stocks is not the winning strategy. 99% of people should own index funds, buy and hold, and buy more.

>>133428079
I'm saving to build a home, and stacking up some years working on the side as a contractor's assistant/subcontractor to practice home building skills

The rest either live with parents or (((rent)))

>>133432259
>steel cut oats

Why do they make a distinction about this? Isn't that what all blades are made out of? Who started this steel cut meme?

all summerfags are here

>>133431288
yo nice get

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>>133428079
>one post

>>133434364
It's about how processed they are. Steel cut are just chopped up, while the rest go through more mechanical/chemical processing like being steamed and rolled. That removes the stuff that's actually healthy, like fiber. It also makes the ratio of carbs higher, which spikes your insulin.

That's the glycemic index, a measure of insulin response biologically. Higher insulin response = high sugar = higher glucose uptake and glycogen storage(makes you fat), and causes inflammatory responses that lead to things like arterial blockage.

Like, when you hear about plaque in your arteries, it's actually due to inflammation more than dietary cholesterol.

So, eat low glycemic foods.

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>>133428079
UK:

Property red-pill:
https://drive.google.com/file/d/0B24wHuyDETj3dzNzS1E5V1lfNkU/view

>Property prices rise, people feel wealthier, spend more.
>Buy-To-Let mortgages; Borrow money with little deposit to bet with the bank that prices will rise. Get millennial to pay your borrowed money mortgage.
>Bankers get cheap credit via QE and de-regulation to lend to these twats.
>Create BTL mortgages.
>BTL mortgages have an advantage in the UK market as they can enjoy 40 percent off the interest payments every year.
>Outbid residential buyers.
>Narrow ownership of housing stock.
>Create the problems of housing shortage and act as though they are the solution.
>Also selling off of social homes for dirt cheap prices to to twats.

Monetary policy via tax-laws for landlords, low interest rates being low, rules on lending being lax, and the availability of lax credit created house price boom spiraling housing costs from around 3.5x one income to around 10x 2 incomes in parts of the UK as many houses were bought up on dodgy mortgages by twat idiot landlords who then fuelled this demand by competeing with each other to see who could have as many houses as possible.

>Neo-Feudalism.

Now crashy crashy awaits due to various tax landlord law changes (Section 24 removes mortage interest tax relief on BTL) and upcoming recession due to mortgage tightening rules as correction was inevitable and the Tories need voters to vote for them and brexit will be blamed but essentially:

>Bankers used twats to farm people and harvest incomes to pay for money they got for fuck-all from the country's central bank because the banks lobby like a PIMP.

>>133428079
>Why don't millennials own homes?
They seem to think that it should be handed to them, because their parents own their home, and why shouldn't everyone if they do?

>>133429107
had to look at the flag to understand...

I feel like prefabs might be a new thing that will be on the rise

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>average price for a home in my small town of 20k people is $161,000
>ranging up to the millions in big cities

>"Why don't millennials own homes?"

Im not even a milennial, Im technically part of Gen Z and I can't see myself ever owning a home. Hell, I can't even afford to rent an apartment.

>>133428079
I'll buy one probably next year but I live in a small town so you can get an amazing house with lots of land and a pool for like 200k.

If you live anywhere near a city you are fucked, it's 1 mil for a doghouse.

>>133435946
Don't get a pool Or, seriously ask yourself how much you'll use it, and account for the ~50-100/mo chemical costs and all the bullshit maintenance you have to do because of it.

Pools are overrated.

>>133436065
I've never lived in a house without a pool. And I make more than enough to not care.

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>>133428079

>>133436303
lol'd

>>133428079
Because they voted in a reflationist who fixed the market before they could buy at sensible prices.

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>>133428079
Nigguh I have 3 roommates and can barley make rent.

>>133437569
This... but also in California

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>>133429740

Generally speaking, I love it. However, I've been gutting my attic in order to have it properly insulated, and it's been a hard go.