re: Why are homeownership rates precipitously declining?

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I knew this would be said at some point in this thread. Probably because the baby boomers have been preaching about the american dream since we were fricking born. You've priced us out of it. Not ourselves. It costs far more to live the same comfortable lifestyle today than it did for you lazy fricks living in the 60s and 70s. Have we constantly raised tuition, housing prices, and everything else? No, that was you assholes. Hurry up and die.

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What does an engineer, attorney, Doctor, hell even a skilled plumber, electrician craftsman make now versus 1970?

My father put 6 kids through school and traveled with them as upper middle class small business owner and I bet he never took home more than 40k a year. I do essentially the same business for many times more than 40. It's all relative.

Buy or rent is a personal choice and not one fits all. I've always been if the mindset to buy-houses, other real estate, vehicles etc...rather than rent of lease and I've always done well with my choices. I buy a vehicle, pay it off and drive it for years without owing anything and it's a savings for me. Plenty of friends who lease vehicles, pay a ton but don't care about a car note and like a new vehicle every couple of years.

Peoples tastes, habits and lifestyles change over all generations and most people know how to adapt.

My best advice to anyone? Live within your means whether renting or buying and quit blaming all of the worlds problems on other people. Your kids will blame you for sucking up good oxygen. If you are going to be bitter than perhaps you should just die as well.