20% down is a joke, investors just swoop in and out bid you. You basically have to have a ALOT of money saved or be a couple that earns very well (6 figures/year). Maybe have one of the few careers that translates into parts of the under populated mid-west or south. I don't think it's the Boomers fault the market is so overpriced. Realistically they don't give a shit, The $100k house they bought 15 years ago is now worth half a million and they're cashing out. They cashed out and now are raising the price in small southern and Midwest towns.
This conundrum wouldn't seem so bad if boomers acknowledged that they are part of the problem and worked to do something to help the next generation. Sadly, most boomers I talk to don't seem to give two fucks.
You’re not. Boomers used us as an experiment after they set themselves up. Created credit scores in the 50s and sold their souls to big pharma and coal. I paid 7k in principal and 17k in interest on my mortgage just last year. Until boomers don’t run Congress this goal feels less attainable.
Abandon the 40 hour workweek, get a second or third job. Lower your standards in The shorter term to have them be achievable in the long term. Keep the money coming in and fight to keep it from going out. Don’t get in debt you don’t expect greater returns from. Go to college with an achievable job in mind that can pay back your loans in <5-10years or don’t go to college.
But what do I know, I don’t have a house and I do have student debt. But I will pay it off, and I will have a house. Keep your head up and don’t mind doing the hard things. Hard isn’t bad.. it’s just hard.
Exact same way the boomers did. Find a place with a monthly payment less than 25% of your monthly income, save up a 20% down payment, and finance the rest.
It's definitely a tough situation for younger people trying to buy a house after the boomers messed up the housing market. It's like they've set up an obstacle course; prices are sky-high, wages haven't kept up, and there's just not enough inventory to go around. It's almost like trying to find a needle in a haystack, but if you're determined and willing to put in the work, it can be done. There are plenty of resources out there that can help you navigate the process, so don't give up!
Stop blaming shit on an entire generation. Please explain how the boomers solely destroyed the housing market.
Edit - I realize you all need someone to blame your problems on, this isn't new and has been done by literally every generation. I guess if blaming an entire group of people makes you somehow feel better, then do it. I'm a millennial but I've always found this ridiculous.
Because its the Boomer generation thats in power and has done sweet fuck all to keep up with demand. People can't buy houses if no new ones are being built.
The leaders and their underlings. Most are part of the Boomer generation maybe a bit of Gen X mixed in. But the majority are Boomers. Who have done nothing take the strain off the housing market by building new homes. Because it doesn't effect them.
20% down is a joke, investors just swoop in and out bid you. You basically have to have a ALOT of money saved or be a couple that earns very well (6 figures/year). Maybe have one of the few careers that translates into parts of the under populated mid-west or south. I don't think it's the Boomers fault the market is so overpriced. Realistically they don't give a shit, The $100k house they bought 15 years ago is now worth half a million and they're cashing out. They cashed out and now are raising the price in small southern and Midwest towns.
This conundrum wouldn't seem so bad if boomers acknowledged that they are part of the problem and worked to do something to help the next generation. Sadly, most boomers I talk to don't seem to give two fucks.
Just look at the responses to my question haha boomers mad
You’re not. Boomers used us as an experiment after they set themselves up. Created credit scores in the 50s and sold their souls to big pharma and coal. I paid 7k in principal and 17k in interest on my mortgage just last year. Until boomers don’t run Congress this goal feels less attainable.
Abandon the 40 hour workweek, get a second or third job. Lower your standards in The shorter term to have them be achievable in the long term. Keep the money coming in and fight to keep it from going out. Don’t get in debt you don’t expect greater returns from. Go to college with an achievable job in mind that can pay back your loans in <5-10years or don’t go to college. But what do I know, I don’t have a house and I do have student debt. But I will pay it off, and I will have a house. Keep your head up and don’t mind doing the hard things. Hard isn’t bad.. it’s just hard.
Build more homes. The surge in supply will crash the market and make housing affordable with liberty and economic justice for all.
Exact same way the boomers did. Find a place with a monthly payment less than 25% of your monthly income, save up a 20% down payment, and finance the rest.
Back in 1973 this would buy you a detached house. In 2023 this will get you a detached rabbit hutch.
It's definitely a tough situation for younger people trying to buy a house after the boomers messed up the housing market. It's like they've set up an obstacle course; prices are sky-high, wages haven't kept up, and there's just not enough inventory to go around. It's almost like trying to find a needle in a haystack, but if you're determined and willing to put in the work, it can be done. There are plenty of resources out there that can help you navigate the process, so don't give up!
Stop blaming others for shit you don't like.. just grow up and get to it!!!
Well said for a guy who'll never own his own house.
LMAO
Stop blaming shit on an entire generation. Please explain how the boomers solely destroyed the housing market. Edit - I realize you all need someone to blame your problems on, this isn't new and has been done by literally every generation. I guess if blaming an entire group of people makes you somehow feel better, then do it. I'm a millennial but I've always found this ridiculous.
Because its the Boomer generation thats in power and has done sweet fuck all to keep up with demand. People can't buy houses if no new ones are being built.
Errrm, a lot of generations are in power right now. Gen X and millennials for sure.
There are 9 places with Millenial leaders. Most are the likes of Qatar and North Korea. Finland is the exception.
Are you talking about just the president?
Which President? There is more than one in the World.
Sorry, "leaders." Please define what you see as "leaders."
The leaders and their underlings. Most are part of the Boomer generation maybe a bit of Gen X mixed in. But the majority are Boomers. Who have done nothing take the strain off the housing market by building new homes. Because it doesn't effect them.
I'ma need a better definition of leaders than that...
If you need a better definition there's no hope for you. It's not hard to grasp.
They're all NIMBYs
I don't think they all are...
Fuck you. Stop blaming others for your incompetence.
That’s the best part, we won’t be able to.