I’m giving up on the idea of living, nevermind getting a house.
Don’t give up. If you do, your enemies win. Fight until your last breath.
Things will get better, but the night is always darkest before the dawn.
Us Millennials sure do love destroying industries by non-participation such as… lemme check my notes here… housing. Pack it in, chaps, another job well done.
Older than millennials and accepted that I’ll never own a home. This is despite having money. Not where we want to live, anyway.
We could swing it if we accepted living in a shithole like Utah, but then I’d hate my life.
I sold my house in Utah and bought a better one for less back east. Utah is indeed a shithole, but property there is expensive as fuck.
Am 43. Owned a falling-apart trailer for two years til it leaked enough carbon monoxide to almost kill me. Couldn’t afford maintenance. I have one Aunt left to live with and when she passes I’m expecting to be homeless again. I’ll never afford my own home. Yes, I’ve looked up “assistance” for disabled and therefore low income ppl in my area, and many other areas as well bc I’d move for a home again in a heartbeat, but that stuff simply isn’t funded anymore. I feel like I’ve been moving from one family to another who will temporarily adopt me for the last 15 years.
I just bought the cheapest house that was bearable to live in. It was $40k cash.
It’s very hard to find single-family dwellings that are small enough to be cheap enough…
Where is this 40K house? Does it need 100K in repairs?
I haven’t seen 40k, but at least near me, if you’re willing to live way out in the country there’s still a few around the 60k to 70k range.
The tricky part is finding a house like that AND finding a job in the area. Remote work would be spotty if you are relying on satellite internet
airbnb, and corporate landlords(blackstone/rock) are the blame. plus the low wages of many fields too.
Investors in general have driven up prices literally around the world. Whether its abnb, LT rentals, investment vehicles, house flippers, retirement plans, corporate strategy etc. Access to the basic needs of living are being inflated by people playing games with money.
Even if you had high wages, it’s really difficult with all of this inflation.
There’s still hope, I just recently bought a home just after turning 40. You just need to put a ton of money into savings, go bankrupt paying medical bills after something bad happens to your spouse, spend 7 years in borderline poverty, and then have one of your parents die the same month they retire and collect their retirement fund.
I hate that the best thing my father ever gave me was his pension.
Calling my pops now. Letting him know the plan.
People spent years trying to work out why life expectancy in Okinawa was so high. Turns out it’s their high rate of pension fraud.
Our 85 y/o dad is pretty much our only hope for a retirement fund. Only problem is that his parents and relatives all lived to between 95 and 105. And I’m already nearly 50.
I’ll never own a home. And I have no family. My only retirement plan is to die before I need to retire.
your spouse
Yep, no hope lol
Can’t afford anything at all on a single income. :(
just need both parents to die
I can just sleep in my car.
Hey now, I banked $30K in cash and bought a house, all I had to do was have a heart attack, open heart surgery, and move to 100% work from home. 😉
3 years after I stopped driving to the office, paying $21 a day to park, and eating out all the damn time… boom! $30K in the bank!
RTO is the worst thing to happen to the business world since open floor desks.
Slightly better than my path.
I bought a house this year, also age 40. To get there, I took a job with a large soulless corporation that is slowly destroying all of us, and then borrowed against all my retirement to get my down payment money.
I just keep saying, “At least I have a house…”
This is news! 15 years ago.
I’m a millennial homeowner and the only way I managed to do so was after getting a toehold in a cheaper market.
But but 50 year mortgages. Pounce now and you can own by 90
Duh. This is what unchecked wealth inequality is doing. As retirees sell their house to fund retirements and new properties are built, people with already sizable passive income streams are buying them up to increase their passive income streams by turning them into rentals. If you want to build more, developers need to bid against that same wealth for land, driving up the cost of the units and further driving them into wealthy portfolios. Governments are pretty much fully leveraged after covid, so they’ve got few assets to help subsidize affordable housing, which is often being privately sold anyway and will be sold by those owners later at market prices when these cash strapped families need the money (for retirement or unexpected troubles).
https://youtube.com/watch?v=pUKaB4P5Qns
The squeeze-out of the middle class has begun.
The squeeze-out of the middle class has begun.
The squeeze-out began in the 1970s and is in full swing.
Seriously got lucky by inheriting one. It sucks thinking about anyone to afford one out the pockets.
Yeah, we’ve decided that we’re just gonna pick a house we like and move in. If someone lives there, they can live under it. Got 64 more layers til bedrock, right?
Yeah, don’t know where you’re going with this. But I said I was lucky in the first few words.
i don’t know where i was going with this halfway through the sentence either. yesterday was a weird day
At this point it’s easier to join a movement to tax private ownership of essentials, than saving for a home
I have almost 200k put away and it isn’t enough.
EU has countries where 200 is sufficient for a good house. Government is a bit better too.
Costa Rica will give you an immediate permanent residency if you bring that capital over to them. But please for the love of god learn Spanish and embrace their culture if you move. That country is remarkable and it needs to stay that way.
So if younger generations have less and less capital with which to enter the housing market, then where does the value appreciation come from I wonder?
House flippers keep buying houses, painting shit white, then selling it to another flipper for 100k more than they bought it for
Private equity firms own 10% of all units in the US.
At this rate HGTV will have turned everyone on Earth into a house flipper by mid next year.
Ready to flip the table
