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Millennials aren't marrying and they're not buying houses
Posted on 9/18/14 at 11:19 am
Posted on 9/18/14 at 11:19 am
11
Posted on 9/18/14 at 11:26 am to mpar98
So millennials are buying houses?
Posted on 9/18/14 at 11:29 am to mpar98
It's almost as if debt-saddled, over-educated, under-skilled people with little job experience are having trouble affording expensive, government subsidized commodities in a prolonged stagnant economy. Crazy 
Posted on 9/18/14 at 11:48 am to mpar98
I've married, yet I have not started saving up for a home. I am helping my wife pay off student loans, and we currently are at least 2 years out from a home purchase. Buying a home will be an afterthought until we start seeing greener pastures.
Posted on 9/18/14 at 12:11 pm to kingbob
quote:
It's almost as if debt-saddled, over-educated, under-skilled people with little job experience are having trouble affording expensive, government subsidized commodities in a prolonged stagnant economy. Crazy
Posted on 9/18/14 at 12:20 pm to mpar98
quote:
Thanks to a sluggish job market, heavy student loan debts and tight lending standards, Millennials are moving out of their folks' homes at a snail's pace.
Pretty much this exactly. It would suck to be graduating into this market right now.
Posted on 9/18/14 at 12:36 pm to dewster
I personally, as a single guy, dont really want a house. Owning a really nice apt/condo/loft would be nice.
Posted on 9/18/14 at 12:40 pm to Hester Carries
quote:
I personally, as a single guy, dont really want a house. Owning a really nice apt/condo/loft would be nice.
Posted on 9/18/14 at 12:42 pm to Hester Carries
I'm married with two kids and sometimes wish I didn't own a home. Especially when something breaks like an a/c or furnace.
Posted on 9/18/14 at 12:47 pm to I Love Bama
quote:
I Love Bama
God forbid i want to live in a city for a bit, and not have to worry about exterior upkeep.
Posted on 9/18/14 at 12:47 pm to dewster
Unless you are graduating in engineering. Petro/chem in the gulf coast region is booming with no indication of slowing down. Perfect time to be graduating.
Posted on 9/18/14 at 12:51 pm to Hester Carries
I'm single and mid 20's and don't really want to own right now either. It just isn't a priority being that mobility is the most important thing to me right now.
Posted on 9/18/14 at 1:05 pm to Hester Carries
quote:
God forbid i want to live in a city for a bit, and not have to worry about exterior upkeep.
No, I understand what you said. It just makes no sense in the context of the discussion.
Posted on 9/18/14 at 1:20 pm to mpar98
I don't think this is as much as a financial and economical issue as it may seem on it's face. IMO it has much to do with the different generational mindset. We are a much more mobile society in this information age with travel being easier than it's ever been, and information and contacts for any place in the world at your fingertips 24/7. I don't think buying a house and staying put is as appealing as it once was.
Being "single" and in my late 20's I can tell you I have no desire to own a home right now. I don't want anything holding me down to a particular area for the long term.
Want to move across country tomorrow? No problem.
Tired of my current surroundings and want something new? Again, no problem.
All of my friends who own a home are either married or have kids or both. With marriage on the decline and people getting married at much older ages, I don't find it surprising that my generation isn't on par with prior generations for home purchases.
Being "single" and in my late 20's I can tell you I have no desire to own a home right now. I don't want anything holding me down to a particular area for the long term.
Want to move across country tomorrow? No problem.
Tired of my current surroundings and want something new? Again, no problem.
All of my friends who own a home are either married or have kids or both. With marriage on the decline and people getting married at much older ages, I don't find it surprising that my generation isn't on par with prior generations for home purchases.
Posted on 9/18/14 at 1:25 pm to I Love Bama
quote:
No, I understand what you said. It just makes no sense in the context of the discussion.
Wait, so saying, as a millennial, that you would prefer the alternatives to a house, in a thread about millennials not buying houses, doesnt make sense in the context of this discussion?
Posted on 9/18/14 at 1:43 pm to Hester Carries
you said you would still buy a townhouse or condo
buying or having a mortgage is the topic of discussion, not just owning a house
condos/townhouses are considered "houses" in this discussion
buying or having a mortgage is the topic of discussion, not just owning a house
condos/townhouses are considered "houses" in this discussion
Posted on 9/18/14 at 1:47 pm to mpar98
They are getting married at a slower rate. They are staying in school longer. Student debt is crushing. The job market for entry level still isn't that great.
Why would a young, single, over-debted guy or gal with a precarious job situation want to be saddled with a 30 year mortgage? If they could even afford it?
These kids are being very, very, very smart. Housing is seen as a risk these days, to this generation. They do not believe that housing is a key to wealth. They came of age in an era of foreclosures and declining values.
Plus, they want to be mobile. Being tied down to a house is the opposite of mobile.
These kids, once they marry and settle down, will certainly buy a house.
Why would a young, single, over-debted guy or gal with a precarious job situation want to be saddled with a 30 year mortgage? If they could even afford it?
These kids are being very, very, very smart. Housing is seen as a risk these days, to this generation. They do not believe that housing is a key to wealth. They came of age in an era of foreclosures and declining values.
Plus, they want to be mobile. Being tied down to a house is the opposite of mobile.
These kids, once they marry and settle down, will certainly buy a house.
Posted on 9/18/14 at 1:50 pm to Salmon
quote:
you said you would still buy a townhouse or condo
buying or having a mortgage is the topic of discussion, not just owning a house
condos/townhouses are considered "houses" in this discussion
Never said i'd buy a townhouse.
Also the article says millennials arent buying houses. It then goes on to assume the reasons.
I provided an anecdotal and personal testimony for why one millennial isnt purchasing a house. Also condos/apts are cheaper than houses, so the buying aspect is still deeply rooted in the reasoning.
Posted on 9/18/14 at 3:33 pm to LSUFanHouston
quote:
These kids, once they marry and settle down, will certainly buy a house.
yes, and believe it or not its starting to grow now. My friend is an economic forecaster, and he said housing looks to be strong due to millenials entering the housing market. THey will buy the low end houses/condos, and let those locked in at the low end trade up which is long overdue.
He said what will hold it back is lending is still real tight and since they aren't great borrowers its going to be a bit of a slog.
Posted on 9/18/14 at 3:37 pm to dewster
quote:
Pretty much this exactly. It would suck to be graduating into this market right now.
My wife graduated last year, started working right away making a very solid income for her age, and she just got recruited and hired on with a new company making substantially more money. We just bought a house, and obviously we got married
She is definitely the exception in her age group though. Most are opting for further education and still living together or with their parents.
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