re: The High Cost of a Home Is Turning American Millennials Into the New Serfs

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GreatLakesTiger24

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The hilarious part of the article is that it literally talks about only one side of the coin. There is no discussion about the actual cost of home ownership. The interest rates, monthly payments, appraised value. None of that is discussed.

It's a gap in the discussion it attempts to frame so wide you could drive a big-rig 18-wheeler through it.

Millenials all want to live in high-cost-of-ownership areas and that creates and drives an unreasonable demand in those areas. Meanwhile it is a boon to the upward mobility of people in suburban and rural areas as it provides-albeit more gentle-downward pressure on home ownership costs from a home price perspective. Lesser demand from that tranche of the demographic of potential homeowners helps to create that downward pressure.

It creates an affluence in rural and suburban areas, and the tools of the Federal Government to increase rural and non-urban tax bases (USDA Rural Development Loans) that offer 100% financing options reduce the cost of entry to home ownership for many young families in what Millenials would consider, "The country."

None of that is even considered or discussed. A total Millenial way of discussing an issue: leaving out a raft of context to simply focus on what they think-and are too ignorant to realize are wrong about-is the only part that matters: THEM.