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re: Almost 70% Of Millennials Regret Buying Their House
Posted on 7/23/18 at 1:54 pm to OweO
Posted on 7/23/18 at 1:54 pm to OweO
5+ pages.
I also I do not regret buying my first even though I lost money on paper.
I enjoy my second house even more, and I did not go into my retirement account for either.
I also I do not regret buying my first even though I lost money on paper.
I enjoy my second house even more, and I did not go into my retirement account for either.
This post was edited on 7/23/18 at 1:55 pm
0
Posted on 7/23/18 at 1:55 pm to bigwheel
quote:
What they’re regretting is mom & dad are no longer footing the bill
Most millennials are approaching 30 up to 37.
Posted on 7/23/18 at 1:55 pm to OweO
"Silly millennials buying houses they can't afford."
-Gen Xers and Boomers who bought homes prior to 9/15/08
If only millennials had the same access to NINJA loans like their predecessors did. But millennials are the worst generation? NINJA please.
-Gen Xers and Boomers who bought homes prior to 9/15/08
If only millennials had the same access to NINJA loans like their predecessors did. But millennials are the worst generation? NINJA please.
This post was edited on 7/23/18 at 2:08 pm
Posted on 7/23/18 at 1:57 pm to OweO
Hey, at least we have retirement savings now. The last genx/boomer insecurity fest was about how millenials didn't save.
Posted on 7/23/18 at 1:57 pm to OweO
They regret their own crappy financial decisions, but have somehow tied that to home ownership.
How about this: I'll buy a millenial's house from him and he can just pay me rent to stay there, at a little mark up from the mortgage note of course.
How about this: I'll buy a millenial's house from him and he can just pay me rent to stay there, at a little mark up from the mortgage note of course.
Posted on 7/23/18 at 1:58 pm to OweO
Nearly 40% if baby boomers have less than $50K saved for retirement.
Maybe millennials are just more financially conscious and rightfully regret dipping into retirement. Baby boomers, on the other hand, are relying on others to fund their retirement.
Maybe millennials are just more financially conscious and rightfully regret dipping into retirement. Baby boomers, on the other hand, are relying on others to fund their retirement.
Posted on 7/23/18 at 1:58 pm to JDogg33
quote:
Many have zero business buying a house. They get grants from HUD etc. Or mommy and daddy put $$ down. Or they live at home rent free for years and aren't prepared to actually pay for housing.
The result?
Many people cannot truly afford their homes.
According to the study, it looks like Generation X shouldn't be owning homes. In relation to Millenials, more Gen X homeowners regret buying their house because they are stretched too thin financially or it's too costly to maintain their home.
Posted on 7/23/18 at 1:58 pm to OweO
(no message)
This post was edited on 8/8/20 at 9:48 am
Posted on 7/23/18 at 1:59 pm to StringedInstruments
quote:
Regret ever buying my first house. That wrong, naive decision completely altered my life’s potential path.
Did you not realize that buying a house would alter your "life's potential path?" For good or ill, it is plain obvious that it is a choice that will have major life impact.
Doesn't every major decision, and even the small ones, alter a "life's potential path."
Being a a goddamn grown up means making decisions that you know will alter your life forever and taking responsibility for them.
Stories like this do not help to remedy millennial stereotypes of being entitled, whiny, and weak.
Posted on 7/23/18 at 2:00 pm to UpToPar
quote:
Maybe millennials are just more financially conscious and rightfully regret dipping into retirement. Baby boomers, on the other hand, are relying on others to fund their retirement.
And here we go...
Posted on 7/23/18 at 2:01 pm to OweO
Saw this like a week ago. shite article with shite clickbait title that misconstrues what is actually asked on the study. The study asks if you have any regrets at all in the house buying process, not if you hate the fact that you bought a house like the article suggests. All these "Millenials..." whatever articles suck.
This post was edited on 7/23/18 at 2:01 pm
Posted on 7/23/18 at 2:01 pm to Montezuma
Millennial here do not regret buying either of the houses I've bought.
Posted on 7/23/18 at 2:02 pm to tigahbruh
quote:
Stories like this do not help to remedy millennial stereotypes of being entitled, whiny, and weak.
So I guess you know everything about his situation based on a pretty vague statement. Simmer down, old man.
Posted on 7/23/18 at 2:04 pm to OweO
don't understand the hate for dipping into retirement for down payments. there is a provision where you can pay for your first home penalty free with retirement savings. My wife and I talked about taking out 50k or so to just drop the note a bit. The problem is that we have been super aggressive putting money into retirement because it is harder to touch and helps us save more. So taking 50k out of retirement penalty free and taking 25k out of savings and 25 k out of investment accounts to put a significant down payment seems smart.
BTW when they asked us how much we wanted to be pre-approved for we were worried that they would say we couldn't get approved for the house we wanted, but come to find out they said we would be pre-approved for a house 2x as expensive as our price range so we aren't going buy some crazy house that will set us back, we also will reimburse all accounts.
BTW when they asked us how much we wanted to be pre-approved for we were worried that they would say we couldn't get approved for the house we wanted, but come to find out they said we would be pre-approved for a house 2x as expensive as our price range so we aren't going buy some crazy house that will set us back, we also will reimburse all accounts.
Posted on 7/23/18 at 2:04 pm to OweO
Is this the most victimized, helpless, mentally challenged generation in the history of mankind?
Posted on 7/23/18 at 2:05 pm to Packer
quote:
So a bank funded a study that came to the conclusion that millenials should invest more to recuperate from a bad home purchase? I'm sold that there is no bias with this study
A study was done so it makes the information legit. How dare you question the motives of the ones doing the survey.. :sarcasm:
Posted on 7/23/18 at 2:05 pm to Packer
quote:
according to the study gen X shouldn't be owning homes
You're right. TBH most people cannot afford a home if we're being honest. If you can't come up with 10-20k straight cash in a pinch you don't need to buy a house.
I think in terms of millennials as I am one.
Posted on 7/23/18 at 2:06 pm to stat19
quote:
Is this the most victimized, helpless, mentally challenged generation in the history of mankind?
Probably whatever your generation is.
Posted on 7/23/18 at 2:07 pm to MSMHater
quote:
The survey found one in three millennials dipped into their retirement accounts to pay for their homes
I thought this was bizarre as well. I would have thought going FHA with a small down payment is the most popular route.
I went with 0 downpayment on USDA loan. 30 year mortgage but I bought the house for a cheap enough price that I intend to make money when I sell it.
My house was built in 1990. I bought it from an elderly lady who was being moved to an assisted living center. I repainted, bought all new appliances, and replaced the stairs with hardwood.
The idea that suddenly everything in my house will start to break unexpectedly is always in the bank of my mind, but overall, I am happy living where I am for a few years.
Posted on 7/23/18 at 2:08 pm to tigahbruh
quote:
Did you not realize that buying a house would alter your "life's potential path?" For good or ill, it is plain obvious that it is a choice that will have major life impact. Doesn't every major decision, and even the small ones, alter a "life's potential path." Being a a goddamn grown up means making decisions that you know will alter your life forever and taking responsibility for them. Stories like this do not help to remedy millennial stereotypes of being entitled, whiny, and weak.
Look at me I'm an old man who wrecked the economy for all the younger generations and then going to berate them for living worse thanks to my generation's actions.
GTFO with your get off the lawn crap. Most Millenials, tough out financial situations much worse. While your generation went willie nillie doing whatever you wanted in the 60s, 70s, and 80s with your hippie crap.
Now you fricks have no retirement and won't freaking retire on time and holding a stranglehold on the job market.
I'm sorry your generation will never be as great as your parents and it gives you a massive inferiority complex.
This post was edited on 7/23/18 at 2:09 pm
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