It appears the idiot youngsters of our great nation are too busy playing video games, talking shit on Instagram, and watching viral videos of Bob Ross (yes, that’s a thing happening now) on Twitch tv, than worrying about their future, buying homes, cars, shit like that.
The share of first-time buyers dropped to 32 percent from 33 percent last year, according to a National Association of Realtors survey that covered transactions in the 12 months through June. That’s below the long-term average of almost 40 percent, the group said in its report, released Thursday.
Rising home prices are holding back many young would-be buyers who can’t easily save for a down payment because of student-loan burdens and soaring apartment rents. The median amount of student debt for all buyers was $25,000, according to the survey. And the prices of the least-expensive previously owned homes — those most likely to be bought by first-time buyers — are rising faster than those of costlier residences.
It’s like they’re all stoners, even when they’re not stoned. They don’t like stocks, saving money, making money, or starting families. Their interest lies solely in vegging out, watching youtube videos, laughing at fucking anime.
Homebuilders shares are down in sympathy, knowing full well that the future homebuyers are bereft of any semblance of dignity and decorum.
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This is very true. We are a lazy bunch. If work didn’t pay me – I swear I wouldn’t go.
Hard to buy a home off of some gen x’er or boomer when you make shit, have no job security or pay too much in rent to save any money though. Also Bob Ross is cool.
They (completely) rebubbled 0708 housing. Not bubble in the sense of a bubble, but brought prices back to 0708 levels, which, uh, was a bubble. Prices are being propped&artificial. Should and will come way way back down. and collapse back to reality. (eventually)
You can thank Hollywood and Madison Ave for that. I’ve noticed a bunch of asian car ads promoting skipping work or leaving early to enjoy the thrill of driving their little shitbox around. Wonder if its all part of turning us into useless fat lazy sheep while asia ascends.
Generation Dolly – cloned sheep
We should ban all advertising, except that typed in Times Roman
size 10 (Headline can be bold) and accessible ONLY thru Google
or equivalent search engine, where they list the ads from lowest
price to highest, and purge all ads older than two weeks.
We should not create WANTS thru glamorous ads.
Not in favor of that. I dont want to limit society’s choices because an individual may make a poor choice. Buy stock in those Asian car companies or firms making a profit from the behavior and situation
The millennials are truly the worst generation. Entitled a-holes. Maybe this enormous amount of debt we are going to leave to them to pay off is a good thing.
shut your mouth ::rides off on skateboard::
I’m 28 so I’m a milennial. My rent is 2k a month in Denver. I’m an outlier because I couldn’t get a loan as a small business owner even though I have cash for 20-30% down. Most of my friends are buying with the help of parents because although we are stupid millennials we realize this rent is in excess of what we would pay for a mortgage on a 300-400k house.
Living at home is cool now and it saves a ton of money! Work a job, no rent, free food, and your mom to kick the girls out. Why buy a house? Oh so you can mow a lawn, do repairs, buy your own food.. yeah pass. “Hey Mom? What’s for dinner yo!”
All my Gen-X friends call then “worthless millennials”.
Lol you guys act like we just showed up like this, we are a product of the fucked up environment the gen x and baby boomers created. You guys took the Greatest generations hard work and sacrific I mean they only saved the world from getting Adolf Hitlered and completely fucking shitted on it in the 60s and 70s then we grew up in 20 years of hilarious excesses of the 80s and 90s when the average stocked broker was churning the fuck out of mom and pop extra belfort. Berne madoff was a god and enron was the ideal balance sheet.
Starting salaries at 40k with 2k a month rent and 25k in student loans for a degree that gave us 0 real world experience but you guys demanded we go because it’s the American dream and now you want us to take on more debt for a house come on son we may be lazy but we’re not stupid.
Okay… fair point! I think we can dig deeper here.
Do you think your generation has been given so much there’s no need or simply no real burning desire to make it better?
I had to work to buy most of my toys. I had to mow lawns. I did odd jobs. My parents didn’t pay for all my extra expenses (they did pay for college thankfully!). I went to a JC to save money in the 1st 2 years because I realized it cost more and the 1st 2 years are a waste anyway (IMHO). I paid for my own insurance. I paid my own rent once I graduated. I never lived back at home. Then again, rent was $800 for a 2 bedroom in the Bay Area. I don’t think I’d survive today as rent would eat up too much of my income which wouldn’t have kept up with the pace of inflation and such.
Enough about me.. I don’t think I had it that hard and I didn’t grow up on a dirt floor. I was lucky and I’m thankful. Not trying to put down anybody else’s situation either.
I don’t think your generation is stupid. In fact, they are well aware of the situation.
But do you really need a house when you can move back in with parents? Why doesn’t your generation vote? Sure you did in 2008 for Obama but the 2nd term, not so much. Bernie stands no chance if you people don’t vote. You’ll get Hilary and you expect more of the same. She’s going to keep the status quo flowing. And you aren’t part of that quo.
Wages have NOT kept pace with inflation. You are essentially locked out of 1st time home ownership. I agree. That’s FTK’ed. Not sure what to say. If I had to do it over again, I would look to cheaper places to live.
You also are competing with a global economy now. I’m Gen-X. It was me competing with people here. Now you get to compete with the world. You’ll have to lower your standards to compete. If you think 40K is bad, I bet there’s 50 people who could or would do that job for $20k because they need the money more and it’s a $10k raise or more from what they had. I didn’t have to deal with that too much. You do. It sucks. Agreed.
Student loans. This is where I think many people are lazy. There’s scholarships out there that go unclaimed. Granted, depending on who you are you can’t get many of them or you can get a lot of them. The kids I knew.. who went to college in the last 4 years… NONE of them looked, went to the library and checked out those old school books of scholarships. They just took loans or had mom/pop float them money. They aren’t motivated to look because there’s no drive. Ah, I’ll have loans, F it anyway. I’ll default.
I’ve generalized enough. I like your stance. You brought some really good points here and I frankly want to know more from your perspective. I don’t really understand so I’m hoping you can enlighten me.
The problem with student loans is that most of them are political farces. Being a white suburban male with good (but not great) grades in the early 2000s, I stood zero chance at anything. I was actually one who went to the library and opened those old school books, I was instantly ineligible for 95% of them because of my socioeconomic status. Meanwhile my friends with lower GPA and ACT scores were getting full or partial tuition solely because their parents were deadbeats and didn’t save shit, OR because they were 1/16th Cherokee or had a black great-grandparent they never met.
There were very few legit true academic merit-based scholarships out there, and the ones that existed were usually saved for athletes (since non-D1 schools cannot give out athletic scholarships), and the very high honor students…the ones that had no life in high school and then partied their brains out Freshman year and/or got the HIV and inevitably dropped out.
Hopefully this has changed.
Please shorten your comments to 140 characters. Way too frickin long……………………………….zzzzzzzzzzz
Can’t stereotype races anymore so now we stereotype age groups.
Millennials are doing a great job cutting cable and not buying cars excessively like previous generations. Both of those are money pits of wastefulness. Homeownership is also overrated. In some parts of the country, yes you can get a good deal. But in most parts of urban America it makes more sense to rent. Millennials will come around to investing. So far they aren’t taking the bait and wasting it on dumb $hit.
Older generation somehow wants them to buy-in to overpriced (unaffordable) housing. Because they know they need inflated housing prices to keep economy stable. Can’t-have-it-both-ways-Mfers
Nailed it to a T. Long ATVI, GOOGL and some of those MJ stocks.
If your on a coast it very may be better to rent. Flyover land ..buy a house. Funny thing happens as you move up the renting food chain, rental prices start disconnecting from housing values. Currently in a $3 million home for $6500 per month. Buying that is roughly $13k per month WITH a million down.