Future generations renting instead of owning homes

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  • Coomer

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    Longtooth

    Do not let us mistake necessary evils for good
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    Nobody owns the ground or the house now anyways. Try not paying your taxes and see what happens! The government shows up with guns and takes back what you only thought was yours
    And everyone is mortgaged to the hilt. Not all, but a lot. :/
     

    FLT

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    According to the US Census, the total percentage of homeowners mortgage in the US is 64.8% Most buyers need a mortgage to buy a home due to increasing property prices and a sudden change in circumstances.Mar 5, 2022

    I would have thought it was higher than that .
     

    Gingershooter

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    It's at a point now that rent is the same price if not more than the mortgage on the house, and depending on credit and what loans you apply for coming up with 6k-20k for a deposit while rent is beyond ridiculous is impossible for most people. Also who's to say how much the housing market drops rents never been this high before. They need to teach finance classes in highschool instead of all the damn dumb electives they make you take. I am a millennial (although when viewed "view" wise I guess I don't count from what's played as the media) and I will say it's a crazy time for the younger generation.
     

    G-rat

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    As a gen x kid I've seen housing markets crash, actual recession and the dream of home ownership dashed. My wife and I moved to Pace almost 4 years ago and are still renting. The home prices are ridiculously over inflated and I refuse to buy the most expensive home in a neighborhood that will NEVER sell for what is being asked currently. We bought 34ac and are waiting till materials come down before we do anything. Near us 2 new developments are being built and not a single home is for sale. They are both owned by property management firms and are for lease only. Coming up with 30-50,000 for a deposit is out of most peoples budgets. Look at the recent college grads, a huge percentage are moving back home to their parents. Lots of others are pooling resources to buy with others and basically have roommates with ownership. Even though we are looking to buy, not sure I want to anymore... just build out my dirt.
     

    justapilgrim

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    As a gen x kid I've seen housing markets crash, actual recession and the dream of home ownership dashed. My wife and I moved to Pace almost 4 years ago and are still renting. The home prices are ridiculously over inflated and I refuse to buy the most expensive home in a neighborhood that will NEVER sell for what is being asked currently. We bought 34ac and are waiting till materials come down before we do anything. Near us 2 new developments are being built and not a single home is for sale. They are both owned by property management firms and are for lease only. Coming up with 30-50,000 for a deposit is out of most peoples budgets. Look at the recent college grads, a huge percentage are moving back home to their parents. Lots of others are pooling resources to buy with others and basically have roommates with ownership. Even though we are looking to buy, not sure I want to anymore... just build out my dirt.
    Have you ever considered buying a nice, used travel trailer/camper rather than building a new house? I've seen some relatively nice units for $15,000 and up. Men seem much more open to this option rather than their significant other.
     

    G-rat

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    Have you ever considered buying a nice, used travel trailer/camper rather than building a new house? I've seen some relatively nice units for $15,000 and up. Men seem much more open to this option rather than their significant other.
    That'd be a no go with the war department... barnaminium is definitely something we're looking at but also have the luxury of superb landlords currently. They are the best! We're in no hurry so we have time.
     
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