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Gen Z's living in hotels over buying a house
Posted on 8/11/24 at 4:41 pm
Posted on 8/11/24 at 4:41 pm
I've been noticing a trend where some Gen Z individuals seem to prefer living in hotels or Air BNB rentals rather than buying a home. This seems to be driven by factors like flexibility, convenience, and the desire to avoid the long-term commitment and financial burden of home ownership.
I'm curious to hear your thoughts on this trend. Do you think this is a smart choice for the younger generation? What are the potential benefits and drawbacks of living in a hotel versus owning a home?
I'm curious to hear your thoughts on this trend. Do you think this is a smart choice for the younger generation? What are the potential benefits and drawbacks of living in a hotel versus owning a home?
15
Posted on 8/11/24 at 4:46 pm to John Madden SuperFan
It all comes down to a cost/benefit analysis. If they’re choosing to live in the situation which optimizes their income/opportunity/expenses, I can’t fault them.
Posted on 8/11/24 at 4:46 pm to John Madden SuperFan
I don’t think living in a hotel is nearly as common as you are making it out to be
Posted on 8/11/24 at 4:51 pm to John Madden SuperFan
I know many Gen Z individuals and none of them are living in a hotel. I don't think it's a trend.
Posted on 8/11/24 at 4:53 pm to John Madden SuperFan
Boomers did this go genZ.
Maybe genZ’s kids will (ever so few of them) wil say to their mom and mom,
“Hey now. frick off. See ya. Going to start my own gig.”
Maybe genZ’s kids will (ever so few of them) wil say to their mom and mom,
“Hey now. frick off. See ya. Going to start my own gig.”
Posted on 8/11/24 at 4:56 pm to John Madden SuperFan
If you stayed at an extended stay hotel that has suites with a kitchen and proper amenities I could see it being cost advantageous. Especially in cities where rent is really high
Posted on 8/11/24 at 4:57 pm to deltaland
And a free maid service would be handy
Posted on 8/11/24 at 5:00 pm to deltaland
Absolutely. It's worth paying $2K/month to live in an extended stay hotel in a major city. I have done this several times.
This post was edited on 8/11/24 at 5:01 pm
Posted on 8/11/24 at 5:04 pm to John Madden SuperFan
I don’t think this is a thing.
But, I have had 100+ employees Uber/Lyft to work daily for the same reasons stated. “Don’t like the commitment of a monthly note.” Meanwhile, they spend an average of $600-800/month on ride shares. None of this is an exaggeration.
But, I have had 100+ employees Uber/Lyft to work daily for the same reasons stated. “Don’t like the commitment of a monthly note.” Meanwhile, they spend an average of $600-800/month on ride shares. None of this is an exaggeration.
Posted on 8/11/24 at 5:07 pm to John Madden SuperFan
Is “Gen Z” a code word for illegal immigrant?
Posted on 8/11/24 at 5:12 pm to engvol
quote:
free maid "service"
quote:
handy
Posted on 8/11/24 at 5:13 pm to John Madden SuperFan
quote:
I've been noticing a trend where some Gen Z individuals
You mean a few YouTubers?
Posted on 8/11/24 at 5:38 pm to John Madden SuperFan
I think you are thinking of people who work remotely and travel around a lot staying in air BNB and hotels for short periods of time in different locations.
I don’t know of any who are using that as a permanent housing situation.
I don’t know of any who are using that as a permanent housing situation.
Posted on 8/11/24 at 5:43 pm to John Madden SuperFan
quote:That’s bullshite
This seems to be driven by factors like flexibility, convenience, and the desire to avoid the long-term commitment and financial burden of home ownership.
If they have a full time job and they’re living in a hotels or short term rentals, it either means they’re lazy or they’re bad with money
Posted on 8/11/24 at 5:54 pm to John Madden SuperFan
I have a relative that lived in a STR for a year.
However, it was in a foreign country, and the owner just wanted it used outside of peak tourism season. They settled on an amount, and it worked for both parties.
However, it was in a foreign country, and the owner just wanted it used outside of peak tourism season. They settled on an amount, and it worked for both parties.
This post was edited on 8/11/24 at 5:55 pm
Posted on 8/11/24 at 5:59 pm to John Madden SuperFan
I live in an Extended Stay America in South Houston. I host business meetings 5:00-8:30 a.m. at the breakfast buffet.
Posted on 8/11/24 at 6:03 pm to Dr Rosenrosen
quote:
It's worth paying $2K/month to live in an extended stay hotel in a major city. I have done this several times.
Maid service
Cable
Internet
Laundry
No utility bills
Fresh towels
Toiletries
Continental breakfasts
Gym
Pool
I mean if you take full advantage you cut out a lot of living costs/expenses with no maintenance/upkeep headache. If it’s a hotel with a decent bar you could literally try to pick up chicks traveling regularly. Hell it sounds fun for a young single person
Posted on 8/11/24 at 6:03 pm to John Madden SuperFan
They are not living in hotels. Majority of them have accepted that they will never be able to own a home like their parents or grandparents( assuming their elders did).
What Gen Z is doing is willing to pay a higher premium for amenities that many new residential multifamily properties are offering; such as community bbq area, pizza ovens, many pools, Cinema/Theater areas, etc.
It's the same reason why so many gen Zs will cut the cable, but will have many various subscription based services like netflix, hulu, spotify, disney+ etc and also pay a higher premium for "aristinal" popsicles.
In other words, Gen Z are a bunch of idiots and what's that saying about a fool and their money
What Gen Z is doing is willing to pay a higher premium for amenities that many new residential multifamily properties are offering; such as community bbq area, pizza ovens, many pools, Cinema/Theater areas, etc.
It's the same reason why so many gen Zs will cut the cable, but will have many various subscription based services like netflix, hulu, spotify, disney+ etc and also pay a higher premium for "aristinal" popsicles.
In other words, Gen Z are a bunch of idiots and what's that saying about a fool and their money
Posted on 8/11/24 at 6:05 pm to Bjorn Cyborg
quote:
think you are thinking of people who work remotely and travel around a lot staying in air BNB and hotels for short periods of time in different locations.
Seems to me it would be preferable for those who travel a lot for work like if jump around working turnarounds at plants or something. Better than a camper/RV
Posted on 8/11/24 at 6:09 pm to DVNO
quote:
Majority of them have accepted that they will never be able to own a home like their parents or grandparents( assuming their elders did).
Most homes will eventually be owned by gen z and the generation following. Unless Elon finally releases his fountain of youth pill for public sale.
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