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Started By
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re: Half of US young adults live at home, fueling luxury good boom
Posted on 12/15/22 at 8:23 am to BlueCheckCertified
Posted on 12/15/22 at 8:23 am to BlueCheckCertified
quote:
Each person having their own home was never a sustainable future.
Just think how sustainable things would be if The Government put everybody that you don't like into Concentration Camps!
0
Posted on 12/15/22 at 8:23 am to jclem11
You know he jerked off while typing that
Posted on 12/15/22 at 8:24 am to Pechon
quote:
Elaborate, please.
The cost of a single family home today needs a multi family income. That will remain true as long as the housing market is artificially inflated with foreign investment.
Posted on 12/15/22 at 8:27 am to BlueCheckCertified
I’d like to see this broken down by college degree obtained so we can see the “ gender studies majors and sociology majors “ ones that have no value
Posted on 12/15/22 at 8:34 am to Joshjrn
so the vast majority of this is from 18-24 year olds, which makes sense
any thoughts on why males live with their parents longer than females?
any thoughts on why males live with their parents longer than females?
Posted on 12/15/22 at 8:35 am to DirtMcGirt13
quote:
Am I the only one that when I turned 18 was trying as quickly as possible to get the hell out of my parents house?
Yeah but its a pretty common world thing for young adults to stay at home until married.
Posted on 12/15/22 at 8:35 am to DirtMcGirt13
quote:
Am I the only one that when I turned 18 was trying as quickly as possible to get the hell out of my parents house?
NO. FREAKING. KIDDING.
"Hey mom I brought some friends home from the bar, I don't know a few of them, we're going to rock on in the living room til 4am. There might be some sex in the guest bedroom and some guys are going to smoke out back. See you in the morning!!!"
My mom would've shot me, and then my dad would've shoved me out of a moving truck. Game over.
Also I didn't need them seeing me do that stuff.
This post was edited on 12/15/22 at 8:36 am
Posted on 12/15/22 at 8:41 am to TheJunction
quote:
With home prices being what they are who can blame an unmarried 25 year old for living at home if that is an option instead of renting?
I’ll call BS on this. The problem is everyone thinks they need the $450k 4/3 2500 sqft with the latest finishes to start out.
At 25 I bought a 3/2 1500 sqft for $185k. Today that same house is worth about $235k-$240k. Ok neighborhood, not the hood, just starter homes.
That’s an affordable home for a 25 year old but most people think they “deserve” better.
Posted on 12/15/22 at 8:42 am to PhiTiger1764
quote:
The problem is everyone thinks they need the $450k 4/3 2500 sqft with the latest finishes to start out.
I’ll call BS on this.
quote:
Today that same house is worth about $235k-$240k. Ok neighborhood, not the hood, just starter homes.
That’s an affordable home for a 25 year old but most people think they “deserve” better.
Factor in a 6% interest rate and the current price of everything and tell me again with a straight face a $240k home is affordable for the average 25 year old.
You are doing the thing boomers do when it comes to the cost of college.
Posted on 12/15/22 at 8:43 am to weagle99
Bruh, if my college graduate kid was living with me and he was doing anything with his money other than saving for a house or helping to pay my bills, he'd be on the curb in a heartbeat. Just because your parents help you out in a tight spot doesn't mean you're to take advantage of them. Damn, I hate this young generation.
Posted on 12/15/22 at 8:44 am to PhiTiger1764
quote:
Today that same house is worth about $235k-$240k. Ok neighborhood, not the hood, just starter homes.
That’s an affordable home for a 25 year old but most people think they “deserve” better.
Where are these starter homes you speak of?
And $235,000 at 6%-7% is a bit much to ask of a 25 year old just starting out.
Posted on 12/15/22 at 8:49 am to PhiTiger1764
quote:
At 25 I bought a 3/2 1500 sqft for $185k. Today that same house is worth about $235k-$240k. Ok neighborhood, not the hood, just starter homes.
You also probably made higher than average income and live in a low cost of living area
in other words, you are not the norm
Posted on 12/15/22 at 8:51 am to DirtMcGirt13
quote:
Am I the only one that when I turned 18 was trying as quickly as possible to get the hell out of my parents house?
I’m not here to defend it, because I was the same way, but rent is way higher and actual wages lower than 20-30 years ago.
Posted on 12/15/22 at 8:54 am to bbarras85
quote:
They also charged me 600 a month in rent basically to keep my stuff there (which was refunded in full when I purchased my first home.
This is a great idea. Did they tell you that you were going to get that money back or not?
Posted on 12/15/22 at 8:57 am to PhiTiger1764
quote:how can you exist in the world in 2022 and not see that this is at least a little bit legitimate?
I’ll call BS on this.
Posted on 12/15/22 at 8:58 am to LNCHBOX
quote:
Factor in a 6% interest rate and the current price of everything and tell me again with a straight face a $240k home is affordable for the average 25 year old.
Ok. Yes things are more unaffordable now with higher interest rates. Assuming 10% down payment, that’s about $1,670/mo with PMI. After PMI it’s $1,580/mo.
But when interest rates were 3%, that’s just a $1,200/mo mortgage. Is that impossible for a 25 year old making say $60k?
Yes it’s tougher now with higher interest rates, but this was going on before higher rates.
Posted on 12/15/22 at 8:58 am to GreatLakesTiger24
quote:
similar to levels seen in the 1940s.
quote:
but it is kind of funny how we act like people have always moved out right away.
The 1940's thing may be because of the returning troops from WW II. Many would have been in their 20s and need a place to live. Not sure how much new housing was built during the war.
Don't know if that contributed to the numbers or not, but it may have.
Posted on 12/15/22 at 8:59 am to PhiTiger1764
quote:
Today that same house is worth about $235k-$240k. Ok neighborhood, not the hood, just starter homes.
That’s an affordable home for a 25 year old but most people think they “deserve” better.
What kind of salary are you assuming this 25 year old makes? With gas over $3/gallon and the costs of everything else soaring as a result, it is a really tough time to be a first time homebuyer.
Posted on 12/15/22 at 9:01 am to weagle99
A generation of lazy, coddled, entitled little shits mooching off their parents.
Posted on 12/15/22 at 9:03 am to PhiTiger1764
quote:
Is that impossible for a 25 year old making say $60k?
Not impossible, but certainly not ideal either
also the average income for a 25-34 year old is $50k
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