Why can't millennials afford to buy a home?
Their parents haven't died and left it to them yet.
But I can
they can't into savings for down payment and having good credit
>>55430682
The Chinks ruined the market where I live.
>>55430682
Their credit is shit. Retards who wield the "never getting credit card, only paying with cash and debit" mentality until they want to take out a mortgage. Build a credit history and you can get a mortgage.
>>55430682
why is you mother a prostitute?
>>55430682
Homes are for the privileged, what do you need an apartment for?
this
too lazy and entitled
>>55430736
Rent's too damn high.
>>55430751
>not saving up money til you can buy a house
>being dependant on the banking jew
Personally I just can't be bothered. If I end up homeless I can turn to crime or just kill myself. Not like I expect to live long past my 30s.
Because chinamen invaded my city and now the avegae house costs 1.3 million dollars.
Oh, and 50% of them call themselves students so they don't pay tax on it.
i rent and move every 2-3 years into a fresh new no maintenance needed home.
Mortgage Keks
But I can. In fact I have.
This is what happens s when you do a STEM degree and are a successful guy
>>55430682
Housing is too expensive, people are chronically underemployed or taking low-paying jobs, there aren't enough high paying jobs.
For instance, I'd have to make 30% more than I've ever made in my life to even qualify for a loan on a low priced house in my area. I've worked skilled trades (mechanic, painter) and still not made enough to buy even a shitty house. I couldn't even qualify to move into my own apartment even though I was working "full time" as an automotive tech. My grandparents didn't have a problem buying a house. My parents had a lot of problems buying theirs (high rent made saving nearly impossible) and I literally wont be able to afford one unless I land a dream job working full time in a union shop or I go back to college and pray I can do something when I finish my degree.
tl;dr jews.
>>55430682
shits too expense and everyone know the market is going to crash again
Because houses are twice as expensive as people make.
In my area a fucking outhouse costs upwards of $200K
>>55430720
how old are you?
>>55430682
Once housing became an investment instead of people just buying a home to live in. Every cunt I know either doesn't own a house or owns more than one and wants to buy more.
>>55433854
>implying 200k is expensive
do u even STEM? i make that in a year after taxes.
Wall Street invests in the real estate market since it's a real asset, which drives prices artificially up.
>>55430824
>>55430736
Fuck the fuck off. A house today costs 6 times the average wage when thirty years ago it cost three times the average wage. Not to mention the time of low deposits is gone. Chuck in mass immigration and buy-to-let and what the hell are people my age meant to do? I've probably paid 35k to other cunts mortgages the past 8 years.
This is the America that was given to us.
>>55430682
Der Juden banks
>>55434031
No, he's saying 200 THOUSAND.
You're making 200 million, which is a lot more.
Go you!
>>55434370
The bankers ponzi scheme is starting to unravel.
>>55434195
Vastly different situation for the murricans though, housing is far cheaper and more accessible, not to mention it's fairly common to just buy plots of land to build your own.
In bongistan just about the only way to afford a deposit on a decent house (terrace, decent area) is to have a good job and moonlight overnight as a taxi driver.
Everyone's probably waiting for boomers to die.
The Governments starter scheme sounds great for first time buyers when you hear of 20% discounts but when that's applied to homes worth 450k (ridiculous) it's still 360k (ridiculous).
Ultimately buying is cheaper than renting. As of last year home owners were better off by £1300 compared to those that rent.
Me and my girlfriend are going to find a flat to rent soon and pledged to save 500 quid each a month. After 3 years that combined total hopefully will be enough for a deposit for a relatively decent home. 500 quid aside from your other expenses sounds hard, but get a another part time job, whatever it takes.
Renting is a joke unless you are a Landorld.
>>55430682
Because they don't need it
What are they gonna do with 5 rooms?
Just waiting for my grandma to die tbf. Her house goes to my mom and aunt but my aunt doesn't have kids so it'll probably go to me and my sister instead.
>>55430682
Because ain't not jobs here. All the good jobs have moved to China and Mexico and even Canada.
Manufacturing-> china
Food chain manufacturing -> Mexico and Canada.
For example, the computers that run in the White House? The mouse device? China.
Oreo Cookies? Mexico
Twinkies? Canada.
Furniture? China
Levi's, Fruit of the loom? Haiti.
Cell phones? China.
That being said, some things are made here and you can tell the quality is good.
All Clad pot and pans- USA
American Blanket Company makes a great line of blankets in the USA.
Stickley Furniture- USA made by union workers.
Dry wall, and other construction stuff, shifted back to US after the china drywall scandal.
The majority of stuff that the majority of people buy however is made overseas. Its only going to get worse with TPP.
>>55434645
Glad i'm not a londoner, though housing isn't exactly cheap up here. Even a 2 bed flat costs 140k, though 2 bed houses are about the same price... i just really hate gardening.
>>55434796
For all of you waiting to inherit a home, you better make your sure you take care of your elders needs, because if they start running short on cash because of diminished investments or the Social Security check spreading to thin, they may start to consider a reverse mortgage.
Fucking IMMIGRANTS! (I'm talking about you Poland)
You all come over here and take our fucking jobs and all our fucking houses. Even when more houses are built there are far more slavs arriving and snatching them up.
>>55434828
There are a lot of things still being made natively, but often they are premium items that are sold at prices that are outside the reach of most people.
Not that the native manufactures are exactly looking out for people for example my brother works for a company making designer lamps, he get paid a sliver over minimum wage to assemble lamps that are sold for several thousand. They could afford to give him a fucking pay rise.
>>55435108
Actually... the people who buy the most affordable houses in the UK are landlords. It's getting so bad even the tories might be stepping in to limit the amount of new builds that can be bought by them.
Those slavs probably arnt buying the homes, just getting first shot at the rent.
Dude, because life is hard when you weren't born rich cocksucker. What is your degree in?
>>55434940
I really don't want my mother to die because she has an interest only mortgage so if I get the house I'm going to owe a FUCK load of money and it might not even have any equity.
>>55435108
It's not quite like how you say but yes non-stop immigration has absolutely raped buying and renting prices to the point of ridiculousness.
I'm lucky enough to be in a council house with reduced rent, just looking in my town you will pay £500 for a bedsit or a room in a house with 6-8 other people.
>>55430736
You can have perfect credit and still not get a good loan due to high dti, which most have because of student loans.
Credit isn't really a measure of one's ability to pay off debt, more like a measure of potential income to the creditor.
A majority of Millenials are too fucking young to even be thinking about home-ownership yet.
the wages havent increased in line with real estate prices
>>55435411
>the wages havent increased in line with real estate prices
The Swedish kek believes the lies
The problem is simple supply and demand, too many people, not enough houses, price of houses goes up.
>>55430682
Because they majored in Genderqueer Pottery Trends.
>>55435495
By that logic, there would be no abandoned or vacant residences.
>>55435593
>an empty property is always for sale
Oh ok retard tell me what the real problem is.
>>55435495
you sir are a fucking retard!!!
>>55430682
basically because the bush adminisration crashed the economy in 2007!
now there arn't nearly enough high paying jobs for 18-30 year old non college graduates going around!
hell most people my age can barely afford to fucking rent a place never mind acually taking out a mortgage and buying a place of thier own!
>>55430682
they spend too much time playing video games and jerking off instead of working, and when they do work they are lazy and get their asses fired
>parents die
>only child
>inherit their house
>in town I grew up in, decide to sell
>take money, get mortgage for myself
>decide to invest others in 4 buy to let mortgages in London
>mfw I'm contributing to the problem
>mfw I don't give a shit
>mfw the rent from my houses pays the mortgage in the place I live
>mfw idiots are literally giving me a portfolio worth north of a million for free
>>55435994
Lucky for some
- 1 company monopoly on building supplies
- Building regulations expensive to adhere to (admittedly the govt is currently trying to reduce this cost)
- Huge investment in property from canucks/burgers/chinks
- Reserve bank put a restriction on first home buyers requiring them to have a 20% deposit of the total value of the home
- Low wage economy
- Huge immigration, 50-60k coming to NZ every year (mostly ex-pat NZers from aussie)
- avg 0-2% rise in wages each year, barely covering inflation
- Expensive land prices, nearly as much as the house itself in some cases
- The national median price is 465K for a house, up $45,000 from last year
- Last year in Auckland, house prices went up $125,950 ($345 a day)
fuck off
I live in London
The government allowed the chinese, arabs and russians to buy up all the fucking houses and sit on them as an investment. Most of them aren't even fucking inhabited.
So now as a result of that, there are no more fucking houses, and the houses that there are cost a horrific amount to rent and to buy one you run up a bill of a fucking million for a shitty victorian townhouse in Peckham.
>>55435164
Where I work, the most common complaint I get about flats and their bins are "there are some residents that don't care about how they treat their communal bin" and every time the finger is pointed at a group of 10 poles or Indians living in a two bed flat.
They live like fucking cockroaches and when you try and talk to them they start with the "no english" shit.
I mean FUCK! How are people outside the better parts of the West so fucking uncivilised.
>>55435994
>mfw interest rates rise faster than rents.
>mfw you go fucking bankrupt and kill yourself.
Nothing is for free fuckwit, especially where banks are concerned. Buy to let mortgages are the bank's way of covering their collective arses against the myriad possible problems associated with being a landlord.
but i can. i work in the finance industry and make 250k a year. im 27 years old. already have the down payment saved up and im looking for houses.
>>55436176
Fuck off back to Pakistan/Bangladesh/wherever if you can't accept the white man's ways.
>>55430749
>>55431249
Lower mainland? No where to grow except up mountainsides now, if it wasn't the chinks it would have been someone else.
>>55434645
I was hoping for a burst bubble when the boomers started dying off and freeing up the houses but looks like the globalists are just going to feed the system with obscenely wealthy corrupt "immigrants" who in some cases don't even immigrate since they are simply off shore investors in foreign lands that look stable, real estate is just an investment whose returns can't be matched right now.
Housing isn't nearly as bad outside of a city
Move to the country
City life is shite anyway
>>55438593
I wouldn't call a trailer a home.
>>55430682
>Shit credit ruined by massive debt from student loans
>Shit job opportunities thanks to the flood of cheap illegal labor
>Millenials don't want to tie themselves down with a 30-year mortgage
>>55430682
Because they have to compete against real estate conglomerates who have a lot more money than them.
I make over 60K/yr and I know the value of money, and 300K for a shitty home in a shitty neighborhood is not worth it.
>>55430682
A combination of choosing expensive training in industries that don't currently need workers, lack of knowledge in personal finances, and the assumption perpetuated by the boomers that the above two things are a-ok and its the government's job to find a place for and fix your problems.
because our selfish parents divorced and sold the home, meaning i might make a pay slip of £+30k but i cannot save up fora deposit due to city-centre flat (tenancy) rates
literally baby boomers prevents me from saving up, was forced to move out at 18 effectively homeless
what's your fucking lazy-ass reason anons
>>55438829
Bit ignorant, no?
>>55430682
Meh, I've just joined the military, if I get married they have to provide me a house with dirt cheap rent. I am ok with this
chinese buying up all the property
>>55434031
>omgod why don't you have the same degree and job as me and make the same amout
>i can't believe everyone doesn't get the same degree as me and apply for the same position
Stem fags confirmed for not knowing shit about economics.
>shit becomes expensive
>WHY U CAN'T AFFORD? BUT MY GRAMPA DID IT JUST SHAKING HIS HAND ! U MUST BE LAZY AND WITHOUT SELF CONTROL
>>55430682
Meh, I've just joined the military, if I get married
Millenials are lazy and entitled.
They want to live with mommy and daddy while they work part time at a non-profit with their gender studies degree.
They need a work life balance, but forgot about the work part.
They borrowed $150,000 not for a mortgage but for a degree that they earn $26,000 a year from. You're doing it wrong millenials.
They will be paying on these worthless degrees for the next 25 years. We have lost an entire generation.
>>55434828
If we make those things here, they get more expensive.
>>55430682
Because the ease of getting an extremely large mortgage (even with relatively little income) throughout the late 20th century inflated prices to ridiculous levels, but now banks are more cautious about handing out those kinds of loans.
Also, because the changing nature of the job market has made it so that career advancement usually requires you to change employers rather than stick with one company your whole life, many young people are wary of being tied down to one place. Selling a house is time consuming and expensive, so many people who want to remain mobile for career purposes prefer to rent even if they could afford to buy a house.
>>55436440
>Buy to let mortgages are the bank's way of covering their collective arses against the myriad possible problems associated with being a landlord.
This. All money is easy money for banks. Banks are all about passing risk onto other people.
>>55430682
>27
>Just bought a home over the summer
>Actually work my ass off to make sure I can afford stuff I buy
>Make decent money...actually pretty good money for someone that's 27
>Car is paid off
>Got a good mortgage rate
>Hate people who think that everything is handed to them without any real effort
>>55435253
insure it and burn it down
>>55430682
Why would millenials want to buy a home? The economy is becoming increasingly dynamic, not less dynamic. Added to that the fact that owning a home is pretty much taking on another part time job, and the idea of purchasing a home is a poor prospect indeed.
Instead, you rent (preferably with a deal that either starts month to month, or ends up going month to month at the end of the initial lease), and you can bail out with 30 days notice whenever you want, while having someone else deal with the repairs and maintenance. You also don't get fucked by property taxes. You just leave.
>>55435253
At least in the states, you can choose to opt out of any inheritance. I would presume this is the same in Britain.
I'm assuming it's because everyone LOVES living in crowded as shit towns with extremely high property value; Just move somewhere where land is cheaper and contract the house yourself.
>>55440788
Hello me. How am I.
>>55440946
Renting is the worst idea of all time; you basically pay money and you sit on NOTHING at the end.
>>55434940
Not only this, but in America once the geriatric go into assisted living and/or any kind of full-time nursing care with housing they start racking up charges. Granny's social security and every one of her assets are on the table once they enter those places and since the elderly seem to live forever, every asset is eaten up and liquidated to get any money they can.
There are ways around this, but you have to take care of things sooner than their arrival.
>>55441022
Where are you going to work if you live out in the middle of nowhere?
>>55441022
>hurrr durr just move to bumfuck nowhere
>just drive 2 hours one way to work
fucking idiot
>>55441320
Play 1 week fantasy sports at Draft Kings & Fan Duel!
It's easy and there's no season-long commitments!
>>55441136
It's usually quite a bit more expensive than it is for a house payment, even with escrow (taxes and insurance) payments tacked on monthly. With renting, the landlord takes care of any issues with the home that arise. Septic tank problems, heating and air unit issues, pipe problems, all of these can be insanely expensive for a person to pay for in an emergency so it's cheaper and less risky in the long run to rent.
>>55441437
Get a townhouse. HOA fees cover all that shit and you still own your place and can do whatever you want with the interior.
>>55430682
because they want to live in great cities. Start living in rural areas where homes are cheaper.
These assholes want to start buying huge houses within big cities.
>>55430682
Wages havn't risen in keeping with the (artificial) growth in the property market, and the value of houses has grown beyond their actual worth.
Anything under 400k australian will be an hour from the city, or in a shitty suburb, and be a 1980's weatherboard dump that needs an overhaul.
Granted there are people who do demand wages high enough to buy into a decent home, but in far far lower numbers than 10, 20, 30 years ago.
>>55441513
Because HOA fees are almost as much as the mortgage.
>>55430682
Jobs are in concentrated areas causes massive inflation in home values. Millennials have high student debt shitty degrees in social sciences and loan payments how the fuck can they afford half a million for a starter home.
>>55430682
because
Boomers wont sell or sell for outrageous cost.
Boomers have priority in all jobs
Jobs don't off as much as the used to to pay for house
Banks would rather sit on property for decades than sell for anything less than top dollar
real estate companies still monopolize buyers for large profits
House ownership has become onerous and over complicated
And even if all that isn't isnt enough the government can still walk in and take you property if they need to.
>>55440431
>Millenials are lazy and entitled.
And who's fault is that?
They are young and don't know better, it's their parents (and schools) job to teach them about the world and how stuff works. Parents and schools encouraged them to do what they enjoy and pursue the Arts/Humanities and its backfired in their faces.
Its the same as blaming all the poor dumb fucks for the economic crisis. It's the job of educated people (parents/government/schools) to stop stupid people doing stupid things.
>>55430682
Because most of them spend their money rather than save it.
When I got my first job and started saving, I couldn't afford a CD to play in my Discman.
Try and explain that to a millennial. That they cant listen to a new music track because they should be saving the money for a house (or a tiny shitty apartment like mine was).
Millennials cannot into planning or deferred rewards. Thank god we dont rely on them for farming because they literally cannot comprehend that in order to have fruit you must first plant a seed and wait quite a long time.
I blame the parents.
>>55434195
lol, subtract the South East, or even just London.
Idiot.
i think there's a more reasonable answer than "lol lazy, lol cant into savings"
it's no secret millenials travel and move quite a bit more than any generation before, and having a house limits your ability to move. we switch jobs a lot more than our parents, we dont work at the same company for 30 years and then retire.
id like to have a home here, but i dont know if ill still be working in vegas in 5 years
>>55441948
you are right.
it is the parents, and the "you can be whatever you want" mantra.
a generation was raised thinking that they should receive a "living wage" for doing whatever work they choose. Be that burger flipping, retail or being a scientist.
They don't shake enough hands.
>>55434031
well, looks like money hasn't brought you any happiness
>>55434645
i would love for that to finally happen. if all doctors just strike for an entire year, kill off diabetic boomers, and force banks to panic, then we can start restructuring.
i'd imagine home prices in florida would plummet
>>55439153
This is probably the most fustrating aspect for myself and I'm going to be earning in the range of 80-100k a year for a long time. While I'm not in a market that is as bad as say Vancouver or Toronto we have the same kinds of problems that they are experiencing.
I definitely get the feeling that there is pushback brewing against foreign nationals purchasing land and property here as shelter assets to launder their money away from their own authorities. It was funny to see how at first there was the claim that there was no data on the purchases, then it was only 5% and just the luxury market, to 'holy fuck there's a lot of students and housewives buying properties up'.
All I can do is wait for a collapse but I am increasingly beginning to believe that this shit will be propped up as long as possible
>>55441948
>Its the same as blaming all the poor dumb fucks for the economic crisis. It's the job of educated people (parents/government/schools) to stop stupid people doing stupid things.
You cannot make laws to protect the stupid, while it might sound like a good idea, in practice it is a never-ending reel of red tape and regulation. Not to mention the damage it would do to intelligence and reasoning.
100 years ago average people had more common sense than they do today. Sure today they can work an ipad, or organise their music collection across 5 online services, but they cant change a plug, or repair anything (because their brains cannot understand how anything works).
There was a great short story by Arthur C. Clarke (in b4 pedo) about people who have forgotten mathematics because they all have calculators.
https://en.wikipedia.org/wiki/The_Feeling_of_Power
>>55430682
Why the fuck would I buy a house? An apartment is easy to clean, it is completely managed by someone else (I.E. I'm not cleaning gutters/mowing grass/cleaning pool)
Sure, you have a landlord. As long as you don't invite roaches, pay your rent on time, and are a decent human being you won't ever see them.
I will probably be forced to have a house one day, but I love my apartment. Also, less space means there is less for me to clean. I pay a fraction of what I would pay for a house a month, which means I can spend more of my money on hobbies and fun times.
In other words, my apartment allows me to do the least amount of work as possible outside of my job, it costs less, I have pretty cool neighbors, I have more money to spend on me and my wife. Why in the fuck would I even WANT to buy a house?
>>55443048
Electricity was a mistake. the power grid is single handedly responsible for the dumbing down of the population
>>55442046
>Try and explain that to a millennial. That they cant listen to a new music track because they should be saving the money for a house (or a tiny shitty apartment like mine was).
>implying anyone buys music anymore.
Get with the times grandpa.
>>55430682
Anyone outside of Australia know about Negative Gearing?
Interest payments on a loan for an investment property are fully TAX DEDUCTIBLE, as are maintenance costs and a few other things.
So when you buy a second or third house you're saving a fortune on taxes and also raising the price of the house because you're basically buying a way to lower your taxes for a few years before pawning the house off on someone else.
So everytime you want to buy a house for yourself to live in in a nice area(shitty areas are bad for rental properties) you're competing with other people like you as well as investors who practically can't lose money on the house no matter how much they spend and the money they make on the property(rental income) they use to save up and buy another house in a few years on top of that house and their own homes.
Consequently housing prices in this country are so bad that we have to shitpost to supplement our incomes.
No politician has the balls to scrap this despite the fact that it has rendered a generation homeless and forced us to rent until our parents die and give us their houses. Or you get a house in a shitty area with a two hour commute to work.
>Bought a house with FHA, did 3.5% down payment, mortgage payment is $403 a month
>Everything starts breaking holy shit this is a money hole that I'm not prepared for
>Work 12 hour days/6 days a week to make my debt to income ratio fuck high
>Buy a bigger and better trailer that will last 15 years before shit breaking and did 20% down
>Payments are $165 a month and I foreclose on my old one
I just wanted a comfortable place to live while being able to survive just doing part-time.
tfw I own my house outright and am only 26 years old in a country with some of the most overpriced real estate.
I lived by the mantra my Pop told me as a boy, "rent money is dead money".
>>55434796
My dad has promised me his house when he dies because my brother and his wife were cunts to him during the divorce from my mum.
He's stubborn as fuck and won't move into a retirement home and will likely die in his bed.
So I have to buy a new bed after he dies and then I have a free house!
Oh and he and my mum have no money now because he spent nearly all of his pension buying her half of their house and she spent her's and his buying herself a four bedroom house to live in alone and now she spends every day complaining to me about how lonely she is all the time.
Fucking Boomers.
>>55440683
>give a man a gun, and he can rob a bank
>give a man a bank, and he can rob the world
>>55430682
I'm planning to once I find a steady well paying job.
Going to go for 3 bedrooms.
Will probably do what one anon did and make the basement comfy as fuck so I can live there and Airbnb the other 3 rooms.
>owning a home
>tying all your assets to something when it's in a bubble...again
>taking out a mortgage, paying interest to kikes
>paying property taxes
>paying for maintenance
>eminent domain means you don't even own it, the gummint can take it whenever they want
>tying yourself to one place
>owning a shit accumulation storage unit
>owning an inefficient plywood mcmansion
>paying for a lawn, being a kek to the grass, spending every weekend bowing down to the grass overlord
>living in suburbia
>having to commute, wasting an hour or two a day, every day, killing your car and incurring gas expense
>wanting to spend your life cleaning a big, stupid house that has a hoard of useless junk in it
Apartments are better in every single way. There is no advantage at all to owning a home. None. If you buy a house you're a good goy kekhold to the kike bankers.
Plus all the houses are of shit quality. Absolute garbage that will fall apart in 50 years. They sacrificed durability and quality for sheer empty size. Nah.
>>55431095
THE RENT IS TOO DAMN HIGH.
>>55430682
21 and I bought the home I grew up in from my mother, feels good knowing I've accomplished atleast something in my life
I don't need to buy a home since I live on property that has been in my family for a few generations. Once in a while we need to fix it up, but I plan to keep it going as long as I can. My mother has already said I can stay with her like she (and my father did until he left) did with my grandparents (who also did it with their parents). My family is pretty cohesive and is an actual family.
Are there some disagreements? Yeah, but nothing too serious that some sense can't be talked into and worked around. I don't see the point in living elsewhere or buying anything else and wasting my money or my family's money when it's simply not necessary. I'd be a fool to do so.
Just like my family's business, I hope to pass this house to my son, and then he passes it to his and so on and so forth.
Helps to not living in a shitty city or some suburb though where you are expected to move out immediately and fun the Jews or someone else.
Because people don't start their own businesses any more..
people are utterly content to work for someone else for the rest of their lives. They're happy to spend all of their money on rent or commute in order to work in london so they can post statuses on facebook about how much they 'love' london. stockholm syndrome
Im quite frankly glad entrepreneurs like me are rare, because the competition is so weak and small in numbers.. but on the other hand I really think we should push entrepreneurship in schools and go back to free as fuck capitalism
Might as well ask where there are some home owners...
I plan on trying to buy a home equivalent or more than my student loan debt (I know) then eventually swap it with equity debt, at which point I couldn't give a fuck less about losing it by declaring bankruptcy or something and just going back to renting. Any glaring flaws with this idea?
They fell for the "if you don't move out at 18 you're a failure" meme and are stuck without savings because of their rent.
>Only way I'll be able to afford moving out in the foreseeable future is move into a house with my sister
>She has anger tantrums and is a single mom so there will be a nephew there too
>She was also a huge slob that leaves dishes in the living room
It's not worth it, is it?
>>55442223
we live in the richest, most productive civilization the world has ever seen. what does grinding people's lives into dust over pennies accomplish?
>>55446236
don't forget having to bow and scrape to the local homeowner's association. god forbid you'd try painting "your" house any color you fancy
>>55446855
sounds like marriage but with even less sex
Parents got the house in 2002 for 600k it's now worth 2.4 million. Just for being a nice house in a southern ontario suburb.
>>55447465
i feel bad for the dumb bastard who gets suckered into paying $2.4 million for a $600k house, unless your parents installed a garage full of cocaine
Some random thoughts on the US housing market:
Even though the US gov't helped inflate a massive housing bubble during the 90's and 00's, it never fully let all the air out during the bailout.
A proper deflation would have created the following:
-A Puerto Rico-grade scale of property foreclosures. More than half the country would be underwater in terms of value.
-Even bigger bailouts for the finance industry. TBTF is real. Anybody who wasn't spooked by Lehman Bros or the collapse of Bear Stearns didn't understand what they were looking at.
-House ownership rates would return to their historical lows. This would crush the legacy of career politicians and certain ex-Presidents.
Boomers would have been wiped out entirely with both their savings inflated away and their house not being worth much. This would have been too dangerous to allow to happen with their large voting bloc.
Today, the housing market is a bit different. Banks have ramped up their standards back to 80's levels. While Boomers were able to buy houses just on their good word, Xers and Mils have to actually produce a real down payment and have provable cash flows.
Property developers are going out of their way to shit on the younger generation, by only building for trust fund kiddies or foreign investors. Local politicians are piss scared of these guys and don't even have enough balls to ask for a poor door.
jews ruined that market.
>>55447250
I'd like to see someone try to tell me what I can do with my own property. That kind of shit, and housing codes, oh my god they make me foam at the mouth. Better to just have an apartment. You can't even "own" property in the US. Always have to bow to someone telling you what to do. No fucking point. Just the concept of a HOA makes me mad. Hope my future husband is cool with a one bd apartment because like hell am I dealing with the stress of home ownership in this kekfaggot modern world.
>I actually love white walls, dat minimalist aesthetic
>>55430682
25 here, I bought a 3 bedroom house this year for $300k. Just finishing all the renovations now, moving in next month.
I lived at home up until now to save up for everything.
Serious question, how difficult is it to buy a home in the US? Does your credit-card culture make it nigh impossible, or is it easy to keep a good credit rating if you don't use your card for a new pair of Air Jordans every month?
I'm 23, come from dirt (parents make 40k annually combined), in my final year of uni, and I've saved enough just from working part-time in retail over the last couple of years to put a deposit down for an investment property. Assuming I can get a job within the first year out of uni (gubment jobs are available in my field, so I will) then literally any bank I walk into will approve a mortgage loan.
It's really not that hard, niggers.
>>55445124
>I lived by the mantra my Pop told me as a boy, "rent money is dead money".
Some of us don't have a choice.
>>55433931
>Millennial
>how old are you
Your as bad as the underaged faggot
>>55446514
>Because people don't start their own businesses any more..
Yes they do. Three of my friends have started their own business.
>people are utterly content to work for someone else for the rest of their lives.
Most people have always been like that.
You realize that they're just getting started on the whole "life" thing, right?
21 yo old here I don't want a McMansion and all the land is being sold at Absurdly high places of well tho I rather travel the world anyway than settle down and be a old fag
>>55440322
i wonder which is the graduation rate among stem students.
>>55430824
this desu
im a piece of shit
Keking at all these apartment fags with their rationalization. At least homes build equity.
>b-but the unstable housing market
There's always a risk but it's better than apartment living. I made a lot from investing white the market was shit. Not a great neighbourhood but it was a temporary roof over my head that was quickly appreciating in value. Them when you sell you get money for a down payment on a nicer place. Taking a risk is better than just pissing your money away with no possibility of return.
>>55446514
>>55448162
>want to start a business because I'd be a great manager, love the thought of putting it all on the line and being self-made
>tfw no experience in any industry that matters, no new ideas/product, nothing to value to contribute
Guess I could always open a cafe for hipsters where the walls are all blackboard and every table has chalk or some shit.
>>55448020
Mort - gage - two french words for death and chain, chained until death. You live in an overpopulated desert penal colony and will work for the goobermint. Now repeat after me. I am free.
No one really owns anything, we are all just passing through. You might want to consider procreation! Being born into bondage is a wonderful thing!
>>55448502
it actually means "dead pledge", but close enough
>>55448502
>you can't sell your investment property before it's paid off once it appreciates in value
>your 76k starting salary job with the very real prospect of hitting six digits within 5 years is slavery because you're employed by the government
>never mind the fact that it's next to impossible to get fired from a government position
nigga I was pulling a 6.7 GPA in a STEM field before I decided to drop out and be a physics teacher instead for dem job prospects and dat stability. Not to mention education is an infamously sexist industry in Australia (men get fast-tracked to executive/leadership positions), and I fully intend to exploit that fact.
Thank god I live in arizona
Cheap
>>55434031
Paying taxes what a kek
They spend all of their money on high end computers to browse memes in high definition.
>>55448896
hows Arizona?
whenever i see a picture, something in a tv show about arizona it always looks nice as fuck
deserts, hot etc
can i live there?
whats the downside
Between me and my wife, we own a 200k home and can make payments relatively easy. We're also both in education (public, secondary). We are 29 and 26 years old.
Our house payment is 300 more than our rent was in an apartment half the size. Good neighborhood, OK school district, house was built in 92. I feel like millennials that can't afford houses fucked shit up when wasting time in college or freeloading and if they're over 25, should be in positions to have a chunk saved for house.
>>55430682
because i dont have rich middleclass parents who give their house when they are old
>>55449120
Teachers union please. Do you plan to procreate/indoctrinate children of your own?
>>55436107
>land is expensive on an island
Do tell
This tread really shows the age difference between /pol/ users. All you college kids are going to get a harsh awakening when you find out even with a engineering degree home ownership is going to be financially crushing.
>>55449743
>Just closed on my house
>27 years old
>200K down on a $900K loan
What was that about a harsh awakening?
>>55442126
are the earnings also normalized without London?
>>55447737
L O N D O N
O
N
D
O
N
Back in the 1800's, the US was able to get around housing market issues with the Homestead Acts. This sent large amount of poor off into the middle of nowhere in hopes of having a slice of land to call their own. Today such a scheme would appear hairbrained.
Back in the era when the act was passed, nobody cared about infrastructure. Today, the average Joe blow won't live without his internets let alone things like running water and sewage removal.
Even the most stupid citizen knows that the value of land is directly proportional to the economic action nearby. Move to the middle of bumfuck nowhere, and if a town doesn't pop up in 20 years, it will still be worth bumfuck nothing.
Today, the US doesn't have a good solution for the fact that jobs have a bad habit of piling on to each other harder than an NYC subway car during rush hour and land owners can abuse this to no end.
>>55448956
Weather is shit for 9 months of the year.
unless you see yourself owning that house until you die, it's not worth buying
>>55448956
No water
messicans
literally reaches 110 regularly in summer
everything about phoenix
>>55449676
Technically a continent is just a really big island.
>>55449823
>$900K loan
Did you buy a private island with a mansion? What the flying fuck?
>>55450064
Apartment blocks, m8. Unless you're homesteading, you don't need a house. All these suburbanites are cancer.
>>55434595
It's not, housing prices are outrageous compared to wages which have stagnated. We are in another housing bubble already, prices are through the roof. You can't just buy your own land, that is in large why houses are so expensive. You can only buy cheap land in the middle of nowhere, which doesn't work for most people who need jobs and access to civilization.
>>55451166
>Apartment blocks, m8
The US already ventured this experiment with the Housing Projects of the 60's and 70's. My father had the misfortune of experiencing that growing up as a poor white. Long story short: you can can't put that many poor and lower class together without it becoming chaos. They are impossible to police and the crime pours out into surrounding areas. Attempting to investigate or lock such buildings down also becomes difficult when the residents bash all the building infrastructure to shit.
>>55434796
I'd be really careful with this idea.
Are you sure your Aunt is just going to give away her inheritance?
Are you sure she doesn't have her own retirement needs and wants?
Do you really think that your sister won't get preggers from a refugee at the club, and then claim the whole house as her own because of her precious baby?
Maybe instead of waiting for Grandma to embrace the sweet release of death, you should be a man and forge your own destiny.
I could but Im not gonna have kids so what's the point? Renting is much easier. I don't even have to take care of my own yard or shovel the snow
>>55430682
>mom borrows money from the bank so we can buy a house
>have to pay monthly for the next 30 years
>mom "accidentally" dies
>mfw mom has life insurrance and I don't have to pay the bank anymore
The government should build apartment complexes near all major cities to house people with little or no income with absolute basic utilities. Instead they pay out massive amounts of welfare that just ends up mainly subsidizing landlords and forces the rent even higher from the artificial demand created as a result.
That or either start building some fucking houses or stop the migrant hordes.
>>55430682
Because Jews overpriced them. If I buy a house I can only afford one in a nigger infested community. You need at least a 10000$ monthly salary to live in a decent family house in a somewhat white town with very little crime rate.
>>55430698
Boomers will reverse mortage their homes anon.
I hate fucking manchildren so much.
They're literally destroying the white race with their fucking bullshit.
They should be gassed before mudslimes and kikes.
>M-MUH I CANT AFFORD MUH FAMILY BECAUSE I NEED AT LEAST 600K A YEAR TO RAISE A CHILD!!!
JUST KILL YOURSELF YOUR PARENTS PROBABLY HAD TO SACRIFICE A BIT TOO YOU FUCKING UNGRATEFUL SUBHUMAN
>LE YOU GET DIVORCED AND THEY TAKE YOU'RE SHIT
GO BACK TO MGTOW-FORUMS YOU WHITEHATING SUBHUMAN SHIT
>LE WHTIE RACE IS DOOMED ANYWAY HURR ITS ALL POINTLESS ANYWAY
JUST KILL YOURSELF THEN YOU FUCKING SUBHUMAN VERMIN
fucking manchildren should be SKINNED ALIVE AND THROWN INTO A PIT FULL OF SALT
>>55431374
but only a couple decades ago people who didn't take STEM were able to buy houses
>>55430682
They are graduating from college with a mortgage payment already in the form of a student loan payment.
>>55431184
Just get a CC and spend like fifteen bucks a month of it that you would've used otherwise, and pay it off immediately.
>>55453116
Do you guys have something we call "viager"?
You buy a house for really cheap but pay a rent to the one or two ancient owner until they die.
This can't end well.
The housing market is absurd after the supposed bubble burst in 2007-2008. My parents built a home in 2003 for $250,000 and even after the bubble burst it is now valued at over $500,000. Wages during that time, as you might imagine, have not doubled to match the crazy housing prices.
IMO the bubble didn't burst, only let off some steam.
>>55454642
Which I should also say is $150,000 more than when the housing market supposedly collapsed.
>>55431431
Just organize 3-4 good buddies and get a joint morgtage
>its the only way for wagekuck plebs like you n me to get a mortgage.
>>55430682
>Why can't millennials afford to buy a home?
The average home in the Washington DC area is 500k+ and those houses in even in the hood trigger off nasty bidding wars. I bought a house in DC and I was born in '88. Government job is best job tbqh.
>>55440501
but at the same time, there will be people making those things, and buying them.
thats a terrible excuse. it is expensive because all the jobs are paying peanuts. if all those outsourced jobs came back to the US, then that wouldnt be an issue.
>>55430682
because debts
>>55440431
>Millenials are lazy and entitled.
boomer detected.
>>55453733
Calm down Aladdin and provide solutions instead of fucking everyone up and usurping them with arabs
>>55454642
no, the bubble did burst.
It's just that the price of land is based on the land's inherent value.
That value does not become less and less as the FED inflates the money supply,
and your wage as a worker has no tie to the value you produce, hence, executives and board chiefs have seen massive economic gains while the middle and lower class get poorer.
>>55430682
Real estate rarely deflates but real wages have been stagnant - hence new generations are finding it more expensive to purchase a home now despite the low interest rates than preceding generations.
What I want to know is why they keep making these damn mcmansions larger and tackier. I have the money for a house but is it so much to ask for 2-3 room that actually looks good?
>>55430766
>an apartment
oey vey reduce your carbon footprint, share a room instead.
>>55431184
Are you serious? I could save around 100.000 nok a year if i work hard at saving. It will then take 25 years to afford a cheap appartment with today's prices. Every year the prices on housing increases by 10%, meaning that realistically, no matter how much you save, you will only get further and further away from getting an appartment.
>>55430682
Cost of education has gone up massively the last few decades, combined with a complete exodus of low skill/high paying jobs (manufacturing)
So instead of starting out at 18 with a net worth of 0, potential homeowners are starting out at 23 with a net worth of negative 50 thousand dollars, by the time they pay it off they're usually in their late 20s at least.
I think the amount of time it takes to go from 0 savings to owning a house is the same, it's just that now it takes an extra 10 years to even be in that position in the first place.
>not just waiting it out until the eventual collapse of western society
It's pretty comfy.
>>55452511
>I could but Im not gonna have kids so what's the point? Renting is much easier.
Well, if you're committed to staying in the same place for at least 5 years it makes financial sense. A mortgage isn't going to be much more than rent (most of the time) but at the end of that time you have a big monetary asset to your name instead of just nothing. If you get a duplex or something and rent out half you can almost live for free.
![Housing-Map-01[1].png](https://i.imgur.com/3v9bRmS.png "Housing-Map-01[1].png")
isn't this just a blue state thing? I live in Charlotte and Housing prices are pretty reasonable. The Housing Bubble of the mid 2000s only really happened on the West Coast, Florida, and Northeast.
>>55456028
Seconding
![housingbubblemap1[1].jpg](https://i.imgur.com/doZ7Rak.jpg "housingbubblemap1[1].jpg")
>>55456295
pic related
>>55448020
if you start with a townhouse or trailer it isn't too bad in areas with low cost of living
become a cop or electrician or some shit if you don't have a degree, save up 20 grand and throw down on something small
But I do. Bought a nice little house for only 75k. Needs some work but it's nothing I can't afford or do on my own. Pro-tip: real estate is cheap as fuck in flyover land.
>>55446236
>They sacrificed durability and quality for sheer empty size
I'll agree with you there
>>55453116
Did you fucking murder your mother?
millenial here, technically i guess (1991) currently in process of closing on house while in my second year of a job where i make a decent amount (enough disposable for all the vidya and porn i want) which i will live in while me and my fiance (wedding date set and is soon) have our one and only child.
oh and no student debt because i worked in high school and during to pay for all my shit, not a fucking dime owed to that machine.
still plenty of time to shitpost on b before i go teach some wageslaves how to be wageslaves
>>55451685
All he's saying is that it's even worse in bongland.
>>55430682
They all want to live in expensive trendy places like NYC and SF.
I lived with my mom for 5 years saved up my cash and put $160,000 in cash money on a qt 3 bed room home in an affordable city. I have no idea why someone would want to live in a big city if they are a poor fag and cant enjoy themselves
>>55453701
fucken boomer scumbags do that all the time. they fuck there kids over and give it to the jewbank. proudamerican....fucking faggot of a country blows. let me outa here, BUT WHERE YOU GON GO ANON??? and thats the awfull truth its the same shit around the globe, jewery every where. ITS OVER.
>>55441198
yeah setting up a trust fund to "own" the house and having grandkid be the trustee only takes a couple hundred bucks yet poorfags cant into kikery
>>55441320
hipsters think cities with less than 800,000 people are the middle of nowhere
>>55430682
because they're mostly still kids. do you seriously believe that the majority of millenials' parents just got a 60k/year job right out of college and bought a house?
>>55458931
Our parent's gen probably did when you consider inflation.
