re: Millennials being squeezed out of middle class, says OECD

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There's no helping you change your mind.

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No it's called doing what you have to do to make it.. how frickin hard Is it to say I'm not at that point in my life yet and need to go somewhere to make a better life.. I was born in the late 70s so no I'm not stuck there.

Damn im upper middle class in Dallas AND New Orleans.

Sure doesn't fricking feel that way!

Oh this is from 2013. Nvm.

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Going 150k in debt on student loans to make 40k a year is dumb.

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The average college grad has nowhere near this much student debt.

Quit generalizing.

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I’m just saying that in general....low cost of living area are that way for a reason.

There is something that makes that area less than ideal to live at

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Wrong. I live in the Madisonville area and houses are popping up like weeds. When the supply goes up, the older, yet still decent smaller homes' prices go down. If nobody wanted to live here, new homes wouldn't be built by the hundreds/thousands. Why don't you ask some of your old classmates, I'm certain they can enlighten you.

I want to see somebody make it, in NYC, with a $44,000 salary.

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Mother fricking this. I’m a millennial and see that most of the people want to have the life their parents did, but right out of college, not 10 years out

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I do see a lot of this. It's like people look at me today and just assume that I've always had a relatively similar lifestyle. But 29 years ago when I had my first child my wife and I owned one car and it was a two door vinyl seat Toyota Tercel. Stick shift. Air condition. No stereo. We lived in a 2 bedroom apartment that was about nine hundred or a thousand square feet. It was an okay neighborhood but it was nothing special.

by the time that 29 year old was in high school I was living in 3000 square feet with two nice cars but even then I don't think you could have called me anything but slightly upper middle class. It's only really in the last 10 years but I've broken out. So when I see all these articles about how easy my generation had it I really have no fricking idea what they're talking about

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I want to see somebody make it, in NYC, with a $44,000 salary

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what's your point? There aren't any walls around New York City are there?

It may shock you but you don't have to go to a 4 year school make 6 figures.. I work with several 23 to 27 year olds making well into 6 figures

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Oh yeah, my buddy bought one of those in Dallas. It was $450k for 2 bed, 1 bath. Perfect starter home.

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Sounds like Dallas is currently an incredible boom market.

LINK

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Market trend

A typical housing market sees a 1-2 percent annual price increase, Wilson said.

However, from 2015 to June 2017, there has been a 9-10 percent annual increase in home prices and about an 8.9 percent increase in appraisal values across Collin County, said Derek Baker, a McKinney Realtor with Keller Williams North Collin County.

“I honestly don’t see there’s any reason to expect any change [in the housing market],” he said. “Meaning we are still going to have high demand all across Collin County, especially [in]McKinney and Frisco and [Allen and Plano], plus Prosper.”

Major Collin County developments taking shape along the Dallas North Tollway in Plano and Frisco have drawn thousands of workers to an influx of relocated national headquarters and a range of companies big and small.

Wilson said since 2011 the Dallas-Fort Worth area has seen “an incredible influx” of jobs—to the tune of 600,000 positions—which has put an increasing strain on the market.

As of today, it would take about 35 days, give or take five days, to sell all homes on the market in McKinney. The ideal inventory is 60 to 90 days, Baker said.

“[With the exception of] some natural catastrophe or political event, [in]the next three to five years we [will]have somewhat of an insulated market here,” Baker said. “So what I mean by that is you have almost guaranteed equity from year to year for homebuyers, and the evaluation and the prices are going to go up at least 8 percent a year.”

The ‘California effect’

The recovery from the Great Recession, which started in late 2007, and a flood of homebuyers from other states has also affected the affordability of the Collin County real estate market, Sanchez said.

According to the January 2017 Texas Relocation Report, the total number of residents moving to Texas from out of state in 2015 increased 2.8 percent year over year to 553,032 incoming
residents.

Experts say rising area home values expected to continue

The highest number of residents moving to Texas came from California with 65,546 people, Florida with 33,670 people and Louisiana with 31,044 people, according to the report.

“What’s really kind of single-handedly held this market up is the fact that we’ve had so many people move in here,” Wilson said. “People need a place to live.”

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