Why Millennials and Gen Z Can’t Buy A House

[Stardayy]

This is why I don't like Dave Ramsey, his advice worked 20 years ago...

[gabsandchris]

Someone put this guy on a commercial stating this stuff so people learn why it’s so depressing to be young and trying to make it in this generation

[MC-fubl]

Freddie Smith… honestly, thank you for how you keep speaking truth to power. I’m 35, single mom, work full time, college graduate, still saving as much as I can to move out of my parent’s, and some days honestly these shorts are the only thing that help me keep my sanity and perspective of reality together…

[subject_]

On top of that, the homes you buy are poorly constructed or in need of massive repairs.

[ylis]

The day I got paid, I used my entire paycheck on bills. Talk about 2 weeks on $30 to my name haha

[DayrusPS]

Boomer: "It's giving broke."

Squatter: "Ima bout to end your whole career and 401k."

[patrickkinnear]

If the wages go up, the requirements for a mortgage will go up to match to price the same people out.
We need to pass a law to stop private investment firms from using real estate as stable investments, buying up 10s of thousands of homes, and driving up the market.
We also need a federal works project where we spend a lot of money to pay American workers, buy up unused space, and build 10s of thousands of homes that can be put on the market and decrease the demand.

[justin-el]

wife and I make 60k each, I pay the mortgage $1600 (just increased from 1350 from taxes). we have a 9 month old, the CHEAPEST daycare we could find is $1200 a month. wife has student loans, 2 vehicle loans, we drive used vehicles that I repair myself and we split the rest of the bills.
We literally live like were piss poor after everything is paid for, we dont go out to eat, we dont go shopping, were just surviving.

[deejayyy]

The wages do NOT need to go up. The prices of everything need to come DOWN!!! Everything is absurdly priced for no reason other than pure greedy profits. Driven even further by the amount of money that is taxed from what we earn. Costs are too high, wages aren't too low

[jessikatargaryen]

It’s also why parents need to stop trying to kick their kids out once they become an adult and help their kids save without worrying about rent.

[sirheisenberg]

Drawing from my personal experience buying my first home in Miami during the early 1990s, I recall that mortgage rates ranged from 8-10%. This historical context makes me believe that rates may never drop back to 3%. As a result, sellers facing urgency will need to adjust their prices downward, triggering subsequent decreases in property evaluations. I suspect others share my sentiment on this matter.

[Mous]

I'm 31 and struggling to buy a house rn but I'm not sure if just raising the minimum wage is the right answer, I would like to propose that yes owners of companies can make the most obviously they took the risk and created the company but there should be a law that once they pass a certain threshold of income should only be able to gain a certain percentage over their employees this would help new companies grow while getting rid of pyramid schemes and businesses that undercut the working class, and their companies would gain from this as well imagine where if you and your team of employees worked harder made more money for the company which in turn made more money for every single employee it would raise moral for the common worker and would give an incentive to work harder for the benefit of the company and themselves, and in that same idea would raise the minimum wage what you make would be considered by what company you work for. Also I am a firm believer of any company that goes over seas for employment should be fined and removed from the American economy. You don't want to give Americans jobs bring your business elsewhere.

[annaelmo]

Not just the young, this also applies to a lot of millennials and X’ers. I separated from horrible relationship, it took me years to get out due to the lack of support misogyny and lack of viable options, and then many many years to recover and get on track. Now it’s too late to buy a house. My father bought 10 properties on an average wage and no higher eduction.

[patriciapuchelt]

My husband and I made about 100k together and had no car payments, no Cc debt and low bills yet only qualified for a 250k loan which in Utah gets you a trailer not an actual home😂😂. Buying a Starbucks drink once a week didn’t save me 50k. We opted out and moved to another state. Im so tired of people always saying that without knowing people’s finances.

[markpalko]

The prices need to come down not give more money because the second everyone makes more per hour the cost of everything that is already way overpriced will become even more expensive it happens every time we increase wages and no one cares or notices

[beeewest]

And for added misery, most house prices are selling for more year over year. For example, near me, it rose about 6% so you’d also not even be saving at a pace to maintain purchasing power. Renting forever at this rate.

[Merk]

The legislature needs to ban foreigners and venture capitalists from buying up all the homes. They should also incentivize builders to make starter homes and not all these massive homes.

[tbd]

Choose your hard. Maxing out my Roth IRA is hard but at least I’m paying myself and not one of the many people trying to profit off my home purchase that I don’t even own.

[travisdouglas]

3 years of saving just to get a low quality property, have a very crappy car, eat horrible unhealthy food while never leaving the house except to work, somehow still struggle to afford basic necessities, never buy anything I want, and hate life forever. NO FUCKING THANK YOU.

[yoda_totta]

thank you so much fo what you doin brotha... its so trashy for these older folks who had it so good, to come in talking down on us like we doing something wrong. NO, the system is wrong