https://medium.com/@chrisjeffrieshomelessromantic/poll-70-of-americans-between-the-ages-of-23-and-40-who-want-to-buy-a-home-say-they-cant-afford-07902bcaea6d The dream of homeownership has long been a cornerstone of the American dream. However, for a significant portion of young Americans, this dream remains elusive. A staggering 70 percent of individuals aged 23 to 40 who aspire to buy a home find themselves unable to afford it. This article delves into the root causes of this affordability crisis, exploring economic, societal, and policy factors that contribute to the struggle faced by millennials and Gen Z
Uhhh obviously that's because China kills all its homeless people or something. That's what my racist yellow peril-driven vibes say, and if you disagree with them then you're obviously a tankie red fash CPC shill who wants to [insert homophobia here] Xi
Legit had a lib trying to explain to me how subsistence farming and illiteracy was such a peaceful life that most Chinese resent the state for forcibly modernizing them. This because I suggested that maybe Chinese people have buy-in with their system on account of the literacy and modernization and the greatest improvement in life expectancy and standard of living in history.
Same liberals will also unquestionably parrot the "Mao killed 60 million people" line within the same sentence as them explaining that subsistence farming is "peaceful" and "less stressful".
"But did you consider Ghost cities? Checkmate, commie!"
- Redditor living rent free in his parents basement
I'm 45, married, decent job (both of us), decent savings, but buying a house is unrealistic. Standard 3/2 here is at least $450k or more if you want something that doesn't need like $100k of work. I just can't wrap my head around putting 20% down and still paying $3k/month.
I wish homeownership wasn’t so important in the US.
I’m probably going to buy a house at some point because it’s what makes sense given how our society is currently set up, but really I wish I could just rent an apartment for the same as (or marginally more than) what it costs to maintain & insure an apartment. If I could do that then I wouldn’t really give a shit about owning a home.
you're describing a condo, and good luck finding one if you don't make at least 6 figures and can't pay in cash. you'll be competing with investors who snap them up within a week of listing.
I'm in that group. Back in 2019 where I am, putting 20% down at an average interest rate would get you in a modest home for around $1200/mo including taxes and fees. The same house and same down payment percentage costs $3200/mo. The down payment is double now though.
It's literally not possible for me to own a home where I've been living for nearly two decades.
You don't want to put $40k down on a double wide that costs $350k at 7%?
Surprised it's that low. Nobody my age can afford a home in the city, wuth the richest omong us barely being able to afford 2.5h by car away
Just want to point out that this is the rate among millennials who want to own a home but haven't bought one yet, so it's not important without knowing how many millennials rent. There's only a few reasons to wait, so it makes sense for money to be a big one. The original source (note the 2019 date) phrases it like this:
Among millennial renters who plan to own a home, 70 percent are waiting because they cannot afford to buy, compared to just 33 percent to say they are not ready to settle into a more permanent lifestyle.
About 50% of millennials already own homes, and the survey found that 12% of the renters didn't plan to own a home. 70% of 44%; this question found that at least 31% of millennials can't afford a home.
i could, if i didn't live where i live... but if i didn't live where i live i probably wouldn't make enough money anymore to be able to afford a house somewhere else
So who owns all the homes? Big corporate landlords or small business tyrant landlords? How are people putting up with this?
