- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
1
Posted on 10/18/23 at 2:16 pm to Chicken
quote:
What is your issue with renting in this situation?
The issue is that rent is so high now most people have a hard time saving money for a downpayment to purchase.
The rent vs mortgage gap has closed more than at any other point in like 50 years since they started tracking.
This post was edited on 10/18/23 at 2:17 pm
Posted on 10/18/23 at 2:19 pm to CollegeFBRules
quote:
And this is the problem. It should be illegal for corporate entities to purchase single family homes as investment properties.
You're the problem.
Posted on 10/18/23 at 2:28 pm to stout
quote:
The rent vs mortgage gap has closed more than at any other point in like 50 years since they started tracking.
It is the other way around.
Posted on 10/18/23 at 2:33 pm to stout
quote:are these people able to cut spending in order to save for a future downpayment?
The issue is that rent is so high now most people have a hard time saving money for a downpayment to purchase.
And, in most cases, someone in their 20's certainly doesn't need more than 2 bedrooms.
How much salary would be needed to rent a 2 bedroom home or apartment?
Posted on 10/18/23 at 2:33 pm to Chicken
quote:Statistically false.
no, a lot of people my age waited until their 30's to buy...or whenever they could buy what they wanted.
Your view is likely anecdotal.
Here is the true statistic by generation:
Current 23 to 31 years old comprise only 18% of the share of homebuyers.
At that age, 73% of the Silent Generation owned homes, 68% of Baby Boomers owned homes and 64% of Generation X owned homes.
[quote]LINK ]
If you are generation X, your generation was purchasing homes in their 20s.
Also according to that link, of older millennials (early 40s) only 60% own homes.
Previous generations were owning homes at a higher percentage and at a younger age.
This post was edited on 10/18/23 at 2:35 pm
Posted on 10/18/23 at 2:34 pm to Chicken
In Boston a 2b in a decent apartment is minimum 3k. If you want to not deal with rats, 4.5
Posted on 10/18/23 at 2:37 pm to Scruffy
From your link:
are you going sit there with a straight face and say 66% of millenials aren't able to save a single $1?
quote:
Down payment savings rates remain shockingly low for Millennials who want to buy homes. In 2021, nearly two-thirds say they have no savings whatsoever, and only 16 percent have saved more than $10,000.
are you going sit there with a straight face and say 66% of millenials aren't able to save a single $1?
This post was edited on 10/18/23 at 2:40 pm
Posted on 10/18/23 at 2:40 pm to Chicken
quote:Definitely a factor, but it doesn’t make your previous statement correct.
Down payment savings rates remain shockingly low for Millennials who want to buy homes. In 2021, nearly two-thirds say they have no savings whatsoever, and only 16 percent have saved more than $10,000.
quote:Did I post anything about whether they are able to save money?
are you going sit there with a straight face and say 66% of millenials aren't able to save a single $1? This post was edited on 10/18 at 2:40 pm
You stated that your generation purchased homes later.
I disproved that statement.
That was the point of the post.
This post was edited on 10/18/23 at 2:42 pm
Posted on 10/18/23 at 2:42 pm to Scruffy
It explains why millenial home ownership is so low...they don't know how to save money.
quote:what statement are you talking about?
Definitely a factor, but it doesn’t make your previous statement correct.
Posted on 10/18/23 at 2:43 pm to Scruffy
quote:
If you are generation X, your generation was purchasing homes in their 20s.
Also according to that link, of older millennials (early 40s) only 60% own homes.
Previous generations were owning homes at a higher percentage and at a younger age.
here is another interesting tid bit
quote:
Saving for a down payment can take years — but receiving help from the bank of Mom and Dad can speed up that process. 39% of homeowners have received down payment assistance, with help from parents leading the way. This is most common among younger Americans: 78% of Gen Z homeowners report some financial support for a down payment, mostly from their parents. In addition, 54% of millennials have received down payment help, followed by 33% of Gen Xers.
Posted on 10/18/23 at 2:44 pm to Scruffy
quote:no, I said my friends purchased homes later.
You stated that your generation purchased homes later.
This post was edited on 10/18/23 at 2:44 pm
Posted on 10/18/23 at 2:44 pm to Chicken
quote:This one:
what statement are you talking about?
“no, a lot of people my age waited until their 30's to buy...or whenever they could buy what they wanted.“
Unless you are a millennial, people your age did not wait.
It seems that a majority purchased homes immediately after college (between 23-31).
Likely related to the cheap college tuition and significantly better CoL.
Posted on 10/18/23 at 2:45 pm to Chicken
quote:Gotcha.
no, I said my friends purchased homes later.
So, anecdotal view.
Posted on 10/18/23 at 2:46 pm to Chicken
quote:
It explains why millenial home ownership is so low...they don't know how to save money.
Want to see my daycare tab?
Posted on 10/18/23 at 2:48 pm to Chicken
quote:
How much salary would be needed to rent a 2 bedroom home or apartment?
I have a few slumlord properties I rent out for $850 per month. Literally in the ghetto for that much. Used to barely get $500 for them.
I know people around here who rent rooms in POS houses out for $175 per week.
This is Lake Charles so not as crazy high as most cities.
Posted on 10/18/23 at 2:49 pm to Dire Wolf
These boomers don’t even know how much debt one needs to take on just to survive these days. Even if school is fully paid for, renting a shared apt and eating and driving to school is thousands a month with a 7.25 minimum wage job that isn’t sustainable
Posted on 10/18/23 at 2:49 pm to 14&Counting
quote:
You can’t find a $300k home in a major metro area where the jobs are
Sure you can
Posted on 10/18/23 at 2:49 pm to DarthRebel
Use filters. Single family home minimum 2 bed 1 bath
200 homes in a place close to 3M people
200 homes in a place close to 3M people
This post was edited on 10/18/23 at 2:51 pm
Posted on 10/18/23 at 2:52 pm to DarthRebel
Lol. Can you people stop posting screenshots of Zillow maps with red dots like this proves some point?
Link a specific home. Find the best one you can.
Link a specific home. Find the best one you can.
Page 14 of 28
Popular
Back to top
Follow TigerDroppings for LSU Football News