re: Half of US young adults live at home, fueling luxury good boom

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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?

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At the last second, I had to crash my parents house out of college for about 5 months as the job I was competing for went with a different candidate. I had stupidly put all my eggs in the basket of getting this job, so I had to start the whole search process over again (Live and learn). Damn if that didnt make me work all the harder to GTFOOT though, living with my parents drove me fricking insane. 5 months was way too long for me, I can't even fathom multiple years!

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And right here is the mindset problem. You’ve got a generation of college kids graduating and leaving their luxury college housing and feel they shouldn’t have to buy something with tile countertops.

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No, he's saying $240K is too much to put into a shittier house. Starter homes shouldn't cost that much. They never have before.

Feel like I am doing a better job as a parent. My 18 and 20 year old are paying their own apartment rent

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And right here is the mindset problem. You’ve got a generation of college kids graduating and leaving their luxury college housing and feel they shouldn’t have to buy something with tile countertops.

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240k around here gets you an apartment or shithole with a 1+ hour commute.

Honestly, i regret not trying to live with my parents for longer and save up for the downpayment. I would have bought 3-4 years ahead of when I did. I was also a complete shithead at 23 so realistically i was never going to be that reasonable

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Each person having their own home was never a sustainable future.

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This mostly applies to major cities and surrounding areas, but I agree...

Particularly detached single family homes. Rising land values near job centers and amenities have made starter homes in desirable areas nearly nonexistent.

Your path to becoming a detached single family homeowner are:

1) "Drive until you can buy," but end up in a neighborhood you don't like and a commute that cuts into your budget and quality of life.
2) Pay high rent for a small apt in an okay neighborhood until you can buy a home, but risk getting stuck in rental perpetuity
3) Split rent with 2+ roommates in a better neighborhood (but how long do you want to do that?)
4) Get a free ride with mom and dad while you save up to buy the starter home you want (and in the process pass up people who didn't choose or have this option)
5) Forget about the starter home and save up for a small condo or townhome in an okay area instead
6) Forget about your job and trade in suburban/urban life for rural life

Unless development patterns change, I think young people need to come to terms with living in a smaller space, choosing to relocate, or being okay with not affording a house until later in life.

Due primarily to strict zoning and building codes, the development patterns in this country lead to stratified neighborhoods, compounding the "rich get richer" effects for SFH owners and making first-time SFH ownership increasingly difficult. We need to loosen regulations to allow for a more diversified housing stock in all neighborhoods so instead of young people choosing to live with parents, they can instead afford to buy a smaller place in the same neighborhood as them (or wherever they'd like to live).

Also, if we allowed for mixed use, mixed housing neighborhoods to more easily develop into livable areas, then we'd have more affordable and viable options for young people than trying to afford a house.

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It's ok. Nobody is judging you for being 30 and living with your parents. Well, maybe a little.

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Can we make judgements based on net worth for each scenario?

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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.

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what 25 year old has $30k liquid sitting around? You're talking about maybe 0.5% of the population and that's likely being extremely generous.

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This is pretty common for Italians, we stay with our parents until we get married usually.

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Greeks too. My 25 y/o cousin is an engineer probably making $100k and he still lives at home. Has a long term gf too. Blows my mind that he's choosing to live in the burbs with parents when he could have privacy with his gf in any neighborhood of his choosing.

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what 25 year old has $30k liquid sitting around? You're talking about maybe 0.5% of the population and that's likely being extremely generous.

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My point stands with 5% down payment and $1,300/mo mortgage. It’s not impossible to save $12k in three years.

Regardless, since I know you love finding disagreements where none exist, I have already acknowledged that things are different with 6%+ rates.