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re: Almost 70% Of Millennials Regret Buying Their House
Posted on 7/23/18 at 2:09 pm to TH03
Posted on 7/23/18 at 2:09 pm to TH03
quote:
most millennials are 30-37
I work for a multi national corporation. I know multiple millennials in that age range earning at least 75k who are still living with Mom and Dad. I think there's some truth to the stereotype.
4
Posted on 7/23/18 at 2:11 pm to OweO
“I’m so glad I bought this house, it’s so much cheaper than the one I defaulted on while upside down on it in back in 08” - baby boomers
Posted on 7/23/18 at 2:11 pm to StringedInstruments
quote:
naive decision
Curious as to why regret?
Overbought?
Limited career mobility?
Why did you buy in first place?
Were you just doing what you thought society expected of you?
Posted on 7/23/18 at 2:13 pm to JDogg33
quote:
I work for a multi national corporation. I know multiple millennials in that age range earning at least 75k who are still living with Mom and Dad
Even if I did believe this, it’s anecdotal as frick.
Posted on 7/23/18 at 2:13 pm to OweO
quote:
found one in three millennials dipped into their retirement accounts to pay for their homes
W
T
F
Clearly they're ready for the responsibility of owning a house.
Posted on 7/23/18 at 2:14 pm to JDogg33
quote:
I work for a multi national corporation. I know multiple millennials in that age range earning at least 75k who are still living with Mom and Dad. I think there's some truth to the stereotype.
My cousin lived with his parents until shortly before he got married. I'm sure he saved a ton of money every month living at home, but by that point, I had stayed in a dorm/apartment for 5 years and couldn't fathom sharing a house again with mom/dad.
Posted on 7/23/18 at 2:14 pm to JDogg33
I can think of a half dozen genxers I know personally who lived with mom and/or dad well into their 20s or 30s in a few cases.
Boomers coddled all their kids. Genx just gets ignored because they are quietly worthless in the grand scheme.
Boomers coddled all their kids. Genx just gets ignored because they are quietly worthless in the grand scheme.
Posted on 7/23/18 at 2:15 pm to CarRamrod
quote:
the last stat said millenials do not have retirement accounts.
and the last article said that millennials are killing the housing market because they aren't buying.
Posted on 7/23/18 at 2:16 pm to OweO
First boomers forced us into student loans, now they’re forcing us to buy houses. It’s really tough being a millennial
Posted on 7/23/18 at 2:16 pm to OweO
Weedeating does stink
Posted on 7/23/18 at 2:21 pm to OweO
Well, I am 31 and just closed on my third home last week. I fricking love it.
Posted on 7/23/18 at 2:21 pm to OweO
I will decide if I regret it or not when I try to sell it. Renting is cool because when shite breaks you don't have to pay for it but you aren't building equity in anything.
Posted on 7/23/18 at 2:22 pm to kywildcatfanone
quote:
Weedeating does stink
Maintaining my lawn was top 5 most enjoyable parts of owning my home.
Posted on 7/23/18 at 2:24 pm to OweO
quote:
About four in 10 millennials are already homeowners, according to a new survey of over 600 millennials (age 21-34) by Bank of the West.
All I took from this article is that I’m not a millennial.
Posted on 7/23/18 at 2:28 pm to OweO
I read this to mean 70% bought too much house and now have buyers’ remorse. I have buyer’s remorse a lot, too.
Posted on 7/23/18 at 2:29 pm to kywildcatfanone
quote:
Weedeating does stink
The way the first beer tastes after weedeating makes it more than worth it.
Posted on 7/23/18 at 2:33 pm to go ta hell ole miss
quote:
I read this to mean 70% bought too much house and now have buyers’ remorse. I have buyer’s remorse a lot, too.
Correct. However, builders have been building more McMansions instead of starter level homes in hot markets because of cheap money.
That cheap money is slowing not becoming cheap anymore.
Posted on 7/23/18 at 2:37 pm to St Augustine
That range is wrong. It’s widely accepted to be 1981-1996. So 22-37.
Posted on 7/23/18 at 2:56 pm to OweO
Thanks for the clickbait a-hole.
The actual study claims that 70% of millennials had some regret related to how prepared they were going into the home buying process.
The actual study claims that 70% of millennials had some regret related to how prepared they were going into the home buying process.
This post was edited on 7/23/18 at 3:03 pm
Posted on 7/23/18 at 2:57 pm to OweO
So millennials want to be flexible and not tied down and don't want to buy a house.
They come on boards like this and all they hear about is how they HAVE to buy a house, and renting a house is throwing away money, etc.
So, they feel forced to buy a house, and go into great debt to do so (meanwhile, paying off student loans, etc).
A few years down the road, they have made so little dent in paying down the mortgage, that even if they were to sell the house, accounting for costs of sale, they will likely come out even, at best. Meanwhile, they had the hassles of homeownership.
If millenials want to rent, then they should rent, and the rest of us need to stop making them feel like that is a bad decision. There is nothing wrong with renting.
They come on boards like this and all they hear about is how they HAVE to buy a house, and renting a house is throwing away money, etc.
So, they feel forced to buy a house, and go into great debt to do so (meanwhile, paying off student loans, etc).
A few years down the road, they have made so little dent in paying down the mortgage, that even if they were to sell the house, accounting for costs of sale, they will likely come out even, at best. Meanwhile, they had the hassles of homeownership.
If millenials want to rent, then they should rent, and the rest of us need to stop making them feel like that is a bad decision. There is nothing wrong with renting.
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