re: What do you think is causing the housing slump?

quote:

---

Boomers arent retiring and millenials are making less because of it.

---

Yeah because they're so technologically savvy they're keeping all those newer hi tech jobs.

Where is this housing slump you speak of?

Definitely NOT seeing a housing slump in our area, quite the contrary. New, large homes are being built at dizzying pace, existing homes are selling like hotcakes. Many buyers are foregoing inspections (dumb move) and there are bidding wars on many houses.

It's definitely regional. Just ask the folks in Northern Virginia where the new Amazon hq will be.

quote:

---

Same. And this was in the 90s. This bunch that's complaining simply seems to think that everything should fall in their lap a whole lot faster than it did in ours because of some misguided thought's of entitlement (?).

---

Exactly. That's the problem in this country, entitlement. That and not taking responsibility. The endless bitching about "my parents had it better," or "it's tougher for my generation," are just excuses and lack of personal responsibility. It does seem as though my parents had a house and better stability at a younger age than I achieved it, but there are too many factors to say exactly why that is. I can't stand people complaining about crap like that. How is complaining, fixing your problem? I was in some poor places in my early twenties, but I absolutely refused to fail and try to move back in with my parents. I also didn't like handouts, or anything given to me. The only help I ever asked of my parents was one cosign on a vehicle and one cosign on one college loan. I had zero sense of entitlement.
Thats what seems to be lost in large portions of the population.

quote:

---

Where is this housing slump you speak of?

---

Take a look at days on market. There is a great deal more price transperancy in the real estate market today than ever before.

quote:

---

Then relocation to affordability (if this really is the problem) is an option. Relocate like some of us have done to an economy that's producing wealth. It's called planning, working a plan, adjustment, adaptation, maturity. Sorry, truth hurts

---

Yeah, I did. I relocated to a city that has
More jobs in my field, where I get paid more money but the housing market is almost unaffordable for most young people starting a career.

I still have to rent because I am paying off student loan debt to go along with car payments and the cost of raising a child. I work in the hospitality industry and average 60+ hours a week. I have to prioritize where I spend my money and how I save. I rent in a part of town that is gentrifying but still very ghetto and was worse when we moved in yet the three bedroom three bath house next to me went for $650,000. So now I am being priced out. I have to think about schools for my daughter too. It’s easy to sit back and say “well you need to move” but most places that are significantly cheaper to live have significantly worse public schools. We can’t afford private.

I know it’s not that hard. I’m not mad or constantly bitching about my situation. I found a career that I love, started at eighteen years old and have been able to move all of the country loving what I do. I think it’s a little silly to generalize an entire generation as man bun wearing weak minded socialites that only want to live in cities for the experience though.

quote:

---

I seriously think it's the mindset of the younger generation that doesn't value home ownership as asset building. They only see it as a living expense. They'd rather spend their money somewhere closer to Bright Lights and other bearded, man bun people. It's the "experience" that counts now.

---

Ironically youre blaming someone else for your troubles .

quote:

---

I got a late start (35)

---

Same here (33). I still live in it. A kind of irony is that I bought it from a 24 year-old. This was the first house he built. He immediately built another house on the 3 acres adjoining mine. He had told me his goal was to be able to build his fourth house debt free from selling his first three houses. His second house sold in six months. Each time the houses he built got bigger. He built his fourth house within six years of my house. After six months of living in the fourth house he had built he had to file for bankruptcy. His impatience to build his dream home was his undoing imo. He eventually bought a house that was about 10 years old.

There is a saying of being "insurance poor". I guess he was a victim of being "new home" poor.

Because millennials think their first home should be as good or better than the home they grew up

quote:

---

The first time in this country’s history your kids won’t live as prosperous or more than you.

---

Simply not true. Besides, the actual results are based on the individual.