/biz/ - Business & Finance

[Anonymous No.11772566]

Why aren’t milienials buying houses?

[Anonymous No.11772577]

>>11772566
because they are expensive, it is a commitment, and it is a liability

/thread

[Anonymous No.11772584]

All the land within reasonable driving distance is built up and NIMBYs forbid upzoning in existing neighborhoods and new construction so supply is bottlenecked and cannot meet demand for the forseeable future so it takes a lot longer for first time buyers to get the money together to buy.

[Anonymous No.11772596]

>>11772577
Fpbp

[Anonymous No.11772599]

they prefer avocado toast

[Anonymous No.11772611]

>>11772566

Banks are hostile towards nobodies. It's been that way since 2008. By 2020, millenials might be rich enough, or considered not risk prone enough, to where they can buy real shit like property.

[Anonymous No.11772620]

I make 45k a year, have 10k in debt and a kid

[Anonymous No.11772635]

Because crypto died right before I was going to put a down payment

[Anonymous No.11772665]

>>11772599
Checked.
Its true too, we do like avocado toast.

[Anonymous No.11772676]

So youre telling me...to buy a house i have to go thru a 'realtor' that doesnt know anything about houses, give him 10% of whatever i paid for the house for filling out paper work and than pay 'property' tax on the property i just bought..and then i have to take care of the house with no tax cut incentive to take care of my house and than i have to take care of all the problems that the realtor, inspector, seller, and bank appraiser missed in the first placed and than your telling me etc etc...where i live houses are marked up 50% from their assesments, alk about a waste of money

[Anonymous No.11772689]

>>11772566
I live in my parents basement and get 325€ neetbucks
I will never be able to afford my own home

[Anonymous No.11772704]

>>11772665
>tfw had to sell house to fund avocado toast addiction
it's not fair bros

[Anonymous No.11772713]

Because renting is unironically a better option than buying in this fucking market.

[Anonymous No.11772735]

>>11772566
Housing market crash when guys? I genuinely want it to collapse now so I can buy in cheaply, £400k+ average for a shitty house is way too fucking much. Thanks, boomers

[Anonymous No.11772743]

>>11772566

Boomers.

They pay awful wages and then want everyone to pay inflated prices for their matchbox houses

nope.jpg

[Anonymous No.11772762]

>>11772566
bought a flat/apartment when I was 25... does that count?

[Anonymous No.11772791]

>>11772566
I want to buy a cheap house in a rural area, but then I'd have no job and income to pay the bills.

[Anonymous No.11772796]

>>11772566
In many places in Europe the only way to get a proper job is to live within some overcrowded city (because of MUH HISTORICAL VALUE), or in its overcrowded suburbs with shitty transportation, and don't even think about commuting by car.
US? I guess not living on a coast immediately disqualifies one from counting as a "proper" millenial.

[Anonymous No.11772798]

>>11772791

be a farmer.

[Anonymous No.11772809]

>>11772566
Those houses would be $3.3 million plus here in Canada.

[Anonymous No.11772819]

>>11772743
Fucking dirty boomers. Then they use that money to go on cruises and live it up like parasites.

[Anonymous No.11772823]

>>11772735
I would give it a couple more years. When you start seeing 0 down financing and first time buyer incentives that will be the precursor to the collapse.

[Anonymous No.11772824]

i don't have a million at my disposal rn. sry to disappoint you, op.

[Anonymous No.11772825]

>>11772819

Bob and Deb go on a Caribbean cruise every winter. Bob always brings his Hawaiian shirt.

[Anonymous No.11772832]

>>11772566
Where I live, I'm competing with rich Chinks buying fuckoff houses for their uni kids. Maybe by the time my gf's ovaries dry up we'll have enough to mortgage 90% if someone's gracious enough to take a non-cash offer. Dis mus be da American Dream

[Anonymous No.11772839]

>>11772743
>>11772819
How do we attack the boomer problem?

[Anonymous No.11772842]

>>11772566
Millenials can see that Chinks & Boomers are just trying to dump their bags. Millenials are dumb but not that dumb.

[Anonymous No.11772844]

do you really need 6 bed and 4.5 bathrooms?
try getting a 1-2 bedroom place first

[Anonymous No.11772850]

>>11772798
How?

[Anonymous No.11772856]

>>11772620
yikes

[Anonymous No.11772863]

>>11772566
>stuck in one place/loss of mobility
>property tax
>insurance
>maintenance and repairs
Yeah no thanks I'd rather gamble my money on ponzi shitcoins

[Anonymous No.11772874]

>>11772850

>get USDA loan to buy farm in bumfuck nowhere
>get government subsidies
>live in farmhouse
>plant crops
>hire mexicans to harvest crops

[Anonymous No.11772879]

>>11772566
A million for that fucking pile of cheap wood? Lmao Americans, your "houses" are a fucking meme

[Anonymous No.11772882]

No way I'm paying 500% value on a Boomer shitbox for 30 years at high interest rates.

[Anonymous No.11772886]

>>11772566
I work at a grocery store

[Anonymous No.11772889]

>>11772819
My boomer boss owns a fucking Y A C H T whilst we save away 65 hours a week for €250 a month pay. Legit one of the worst generations to ever exist

[Anonymous No.11772892]

>>11772879
your investments are a fucking meme

[Anonymous No.11772910]

>>11772839
Theyll do it to themselves. Pension plans are a massive ponzi scheme set to pop when enough Boomers retire and are all collecting from them. Millenials/Zoomers arent making nearly enough to support them continually, and the Boomers have blown all of their own money on cruises, classic cars, and golf. Boomers are going to get Just'd so incredibly hard.

[Anonymous No.11772931]

>>11772798
Don't do this if you're not american, extremely hard work and the pay is fucking SHIT in the rest of the world.
t. european farmer

[Anonymous No.11772942]

>>11772931

American farmers can get a ton of government money, and labor is cheap with all the illegals.

[Anonymous No.11772953]

Imagine having one life and getting born in a bad generation. Must suck.

[Anonymous No.11772958]

>>11772798
do you really want to wake up at 4am and work your land everyday. on the plus side you can start drinking at noon everyday

[Anonymous No.11772959]

>>11772892
I know but ironically

[Anonymous No.11772980]

>>11772842
Haha, this is me. Not that dumb

[Anonymous No.11772990]

>>11772958
Yes

[Anonymous No.11772997]

>>11772942
I know, I've heard stories of even not planting anything then just claiming crop failure and getting even more free money, thanks to government bills wanting to prevent them selling the land for property development, so to protect US agriculture production potential.
Sounds like a nice gig lmao. Certainly beats working 6:30am-6:30pm six days a week for €250 net pay every month after rent/taxes

[Anonymous No.11773047]

I’m a new realtor right now, at a young age in the Midwest. In a blue state. I’m beyond fucking shocked at the offers I’m receiving on some of our listings for absolute pieces of shit houses. I’m talking houses you can’t even live in and need to be destroyed are selling for 150K plus, on about .5 acres of land. It’s NUTS. you can 100 acres in Utah for 100K... what the fuck is going on? I got into real estate because I’m nearly certain in 5-10 years when everything hits the fan I’ll be able to scoop neighborhoods up for mere Bitcoins. I was trying to be ahead of the curve.

[Anonymous No.11773131]

>>11772611
Banks are back to signing a mortgage for anyone with a pulse again. Read the news once in a while that's not on a crypto fake news site.
Someone I worked with is a real estate drone outside of Sacramento, said the Chinese investors are gone, she's selling houses to young people, nobody is having problems getting loans. Enough time has passed since the last crash for young people to just deal with the prices, and they make it work.
Granted, this is young people with jobs, not NEETs who sit at home staring at charts all days, breathing in hopium and their own farts.

[Anonymous No.11773307]

>>11772997
are you from baltics?

[Anonymous No.11773333]

No such thing as owning a house anymore

Miss one mortgage payment and be foreclosed on and kicked out in weeks even of it was almost paid off

No thanks kikes

[Anonymous No.11773383]

>>11773307
South Germany, 'muh strong economy' is a meme, only thanks to slave workers like apprenticeships and interns acting as very cheap/free labour. Fucking BOOMERS have the money, property and power here, they took from all generations after them and now we live like complete shit

[Anonymous No.11773443]

>>11773333
I own houses. Kikes or no, that's not how it works.

[Anonymous No.11773475]

>>11772566
>Why aren’t milienials buying houses?
I'm waiting for the next crash to buy cheap.

[Anonymous No.11773534]

>>11773131
Completely false. The banks are 100 percent cucked right now by strict loan guidelines. Bought my home last year. I offered asking but the home came 25k under appraisal, selling appealed and the bank/appraiser told them to fuck off because of some shit tier homes that sold 10 miles from the home I bought. They will not budge on loans and you have to have good to great credit with two years of steady income to get a loan right now.

[Anonymous No.11773548]

>>11773047
Are they actually selling though or do they sit on Zillow for hundreds of days with the occasional 3-5k drop in price?

[Anonymous No.11773571]

Buying now means you'll get cucked soon

Temp rental is even better if it's cheap

[Anonymous No.11773582]

>>11772566
I don't intentionally live around a majority of non-whites

[Anonymous No.11773585]

>>11773333
you've never owned a house and don't even know the process. why make fake news?

[Anonymous No.11773588]

>>11772676
who the fuck pays 10% to a realtor? ...nobody does that.

[Anonymous No.11773608]

>>11773585
this thread is full of fags who have convinced themselves that they haven't bought a house cause they don't want to. Surely it's not because they are broke and afraid to leave moms house.

[Anonymous No.11773627]

>>11773548

They are selling. We listed two houses the other day, dumps, right next to eachother and we have THREE contracts asking to buy BOTH at one time, that was the contingency on the seller accepting the contract.

What I can say though is, it’s not millennials. We have almost NO millennial buyers except for the occasional teamster who makes 100K/year simply wrapping wires or working for an oil company etc. The other realtors in the office are all normie bluepill tier so I can’t openly talk like this with them. I simply cannot believe how much money people are paying for some of these houses.

[Anonymous No.11773678]

>>11773627
Are they chinese buyers? I know the chinese are using oversea properties as a loophole to get their money out of china.

[Anonymous No.11773707]

>>11773678

Well it’s a lot of LLCs right now. Businesses looking to flip (I think). I don’t have my hands on all the deals- but there are a lot of LLC buyers. Not many Chinks from what I’m seeing.

[Anonymous No.11773713]

>>11773608
M8 I‘ve only beenmaking 80k/year since 2016, you really think the first thing i‘m gonna get is a house? And if i get into an accident or a relative of mine gets fucked over i‘m gonna be broke. Nice.
Just give me 5 years and calm your tits.

[Anonymous No.11773730]

why on earth would I do that when I can live with mom and dad for free?

[Anonymous No.11773774]

>>11773730
Most redpilled post here, living with parents/grandparents was how wealth had been built for centuries, only recently have we abandoned this concept for 'individual living'. I did this for my first 2 years of working and it set me up to where I'm 100% ahead of everyone else I know

[Anonymous No.11773926]

>>11773707
Oh so it's some chumps looking to flip. Not surprised there is a ton of marketing saying it's a great time to do so. Just give it another few months before they're flips don't sell.

[Anonymous No.11773929]

>>11772889
Millenial is the worst generation yo be born in.

[Anonymous No.11773990]

>be me
>son of german boomers
>boomer parents had great jobs after going to school for just 8years
>meanwhile I had to go to school and higher education for a total amount of 18 years
>"son, when I was as old as you, I already had a house and a wife. what the hell is wrong with you!?"
>"oh son, let me tell you, your mom and I booked another caribean cruise from the money we inherited after your grandpas death"
>"if we keep spending money like this, we will be broke in 10 years, haha"
>MFW my dad is teasing me with the fact that they had it all handed to them and still they wont leave me and my sister any money behind
>they will only leave us somali refugees behind

the only thing that makes me feel better is to know that these boomers will get gangraped and beheaded by the migrants they made to work at the retirement homes

[Anonymous No.11774008]

>>11773929
I feel for millenials, at least we zoomers will be able to eventually drag ourselves up as time goes on, it's already too late for our older siblings who got sold nothing but lies from the moment they started school

[Anonymous No.11774023]

>>11773774
>my first 2 years of working

I've hit my first decade of doing this

[Anonymous No.11774037]

>>11773333
you keep equity in house, they just auction it off

[Anonymous No.11774056]

>>11773990
Sucks bro, they crashed all the jobs and left only shit azubi work that pays legally almost nothing. Even with just 1500€ a month is ok to get a nice Wohnung but nope, pay around here is €600 before tax/KV. My family are the same with the cruises too. Fuck them all

[Anonymous No.11774059]

>>11772566

I live in NoVa... fuckin hate this place. Jobs here are good though

[Anonymous No.11774063]

>>11774008
millenial here, joy is greater once you've known darkness and hopelessness. We grew up truly hating the world but not knowing why. Seeing newer generations ready to embrace real solutions is the greatest pleasure there is.

[Anonymous No.11774076]

>>11773774

Living with parents is the biggest “fuck you” you can give to the rent seekers and boomer land owners

[Anonymous No.11774104]

>>11773990
what makes you think they will move in to a retirement home? they will just stay in their house until they die and you will have to care for them.

[Anonymous No.11774119]

>>11773774
>>11774076
i am the guy who wrote this post: >>11773990

i am moving back in with my parents in two weeks because I found a job in my home town.
not only will living with my boomer parents make me save money, it also allows me to focus on my work, because my boomer mommy can cook my meals and wash my shirts. additionally, my german boomer parents are pissed that i am moving back in, that makes it even better. i will do anything to make the lives of this generation worse, because they turned our country into shit.

[Anonymous No.11774128]

>>11774104
dont make me laugh.
this is what they believe, but I will move to eastasia once I got some money saved, and then they can go and rot in hell.

[Anonymous No.11774129]

>>11773131
>and their own farts.

are you saying that's unhealthy

[Anonymous No.11774161]

>>11774119
>>11774128
i have to add to this: of course I will use all the money i save by living with boomer parents to add to my LINK stack

[Anonymous No.11774254]

>>11774161
>>11774119
Based

[Anonymous No.11774476]

>>11773774
This, but unironically. Just bought a house with 30% down (also got free gibs) and a $126k portfolio at 27. I did move out after college for a year and a half living abroad and living with my parents sucked but it literally set me up to be ahead the rest of my life and so much further ahead of even my friends who make more than me.

[Anonymous No.11774597]

>>11772566
We should all come together and agree to burn every bank down to the ground.

[Anonymous No.11774807]

>>11773990
Find solice in the fact that they are complacently expecting to live off of a pension. When they all start taking it at once is when it collapses. There will be economic chaos at this time; but just remember what the eskimos did with their elderly in times of trial.

[Anonymous No.11774848]

>>11774076
Not if your parents are renters. Mine lost the house due to falling for equity loan memes

[Anonymous No.11774864]

>>11773774
Some people don’t have the luxury of having family that is both or either sound of mind or actually loves them unfortunately

[Anonymous No.11774875]

>>11774864
But I suppose it hardens my resolve, to make something better out of this terrible hand, to constantly look for new opportunities and strive upward

[Anonymous No.11774878]

I'm bought a house last year in Portland OR for 320K.

>t. 1991fag

[Anonymous No.11774973]

>>11772566
nova is hopeless

[Anonymous No.11774984]

>>11772566
My boomer parents took a loan and bought land and built us a house, my dad worked as a highschool french teacher and also helped putting bricks and stuff in the house.
I don't know any millenial who would sweat and learn and work with tough masons to build their house, desu it becomes a lot cheaper than buying something already built, and you can fuck it up if you don't know what you're doing or hire bad masons.
Boomers are based desu, parents slept for a year in a cold livingroom because they left the heated room for me and my sister.

[Anonymous No.11774986]

I hate boomers so much. My mother inherited a house and money totaling a million dollars twenty-five years ago and instead of investing it, blew it all and refused to work. Now all the money is gone and she is asking me for money even though I'm also very poor. Same with my father. He married a fat accountant and she died 6 years later. He also inherited a million. Now he is blowing it just as hard.

I have three siblings. Four children total. Especially with my mother, her family spent generations as immigrants (Sweden) to build that up, with my grandfather being a judge before he got cancer. She just blew it all away. All she will leave for her 4 children is debt.

That's how boomers are, though. All they care about is their house in the suburbs and making sure their car will take them to wageslavery and Walmart. When they get old I'm not doing shit for them. I can't wait for boomers to die.

[Anonymous No.11775011]

>>11774128
>be degenerate german with no family values
>complain about degeneracy in germany and loss of family values
kys

[Anonymous No.11775020]

>>11774986
based

[Anonymous No.11775032]

>>11772566
No way I'm anchoring down for 30 years in one place.
While I'm renting, I can move to another job wherever I want, I can escape divorce rape and as an Eurofag, I have more rights than a mortgage. Prices have risen way above our income level. I'm not stupid to indebt myself for 30+ years. I'll buy something when there will be blood on the streets.

[Anonymous No.11775211]

>working 6 days a week (3 days off)
>currently renting
>saving up to buy 350k 2 bedroom house
>need to spend time with girlfriend on my days off
>probably get her pregnant soon

all i want to do is quit my job, move back into my mums house, watch anime, play vidyagaymes, browse 4chins and and smoke weed all day

is this real life now?

[Anonymous No.11775224]

>>11775032
>I'm not stupid to indebt myself for 30+ years
Ever heard of a word inflation, retard?

[Anonymous No.11775398]

>>11773990
>waaa why they not cut me a check from da-da
if they left your piece of shit money you'd be no different dumbass
be better than them, let them piss it away

[Anonymous No.11775408]

>>11772566
The real question is, why are millenials not shorting houses? See you fags in January when shit melts down.

[Anonymous No.11775411]

>>11772566
boomer politicians committed to neoliberalism who have sold out their kin

[Anonymous No.11775895]

>>11772577

Accountant here. It's actually an asset, not a liability

[Anonymous No.11775977]

>parents rent/own house and you rent = paying rent twice to them
>live with parents, split rent = more for all of you

[Anonymous No.11775981]

>>11775408

Yeah good fucking luck. I bought a house 5 miles from amazon hq2

[Anonymous No.11776006]

>>11772566
Its a symbol of having passed successfully into adulthood and brings a false sense of security

[Anonymous No.11776130]

At some point the housing market is going to take a major hit. It's a matter of when, not if.

>Boomers hitting retirement age but never bothered to save for retirement
>"My house is my retirement" meme
>Millennials unable to afford houses, therefor nobody to sell to once the boomers cash out on their meme retirement plan
>Robots and 3D printing will cheapen housing production as time goes on
>We are long overdue for another recession

Yes I'm aware that most of the value is in the land and not the house, typically. But at some point, something's gotta give. Lots of houses are going to start being liquidated within the next decade.

I look forward to when these selfish boomer fucks suddenly can't cash out on their retirement plans when housing finally crashes.

[Anonymous No.11776245]

>>11776130

Not really. Same shit happened in Japan. Countryside became worthless, Tokyo keeps booming. If you buy in a big city it will keep going up. If you buy in flyover country it will keep getting more worthless

[Anonymous No.11776258]

>>11772566
I bought a house in rural Nebraska for 90k. Yearly income is 48k a year after taxes, and mortgage is only about 500 a month. I have plenty of disposable income, life is fucking good.

[Anonymous No.11776268]

>>11772566
A lack of money.

[Anonymous No.11776270]

>>11776258
>life is fucking good.

But youre in nebraska

[Anonymous No.11776312]

>>11772889

My Boomer boss bought a bunch downtown duplexes for 15k each in the 60s. Each one is worth two to ten million now and he owns over a dozen now.

Imagine being worth over 100 million now simply because you bought a bunch of one bedroom one bath crapshacks

[Anonymous No.11776340]

>>11772743

This x 100000000000...

You need to be married, both with middle class wages to afford a mortgage nowadays.

[Anonymous No.11776375]

>>11773383
Shut up and pay your taxes kraut. We need more black cock in Heidi and Claudia. No one cares if you're only making €250 after rent and taxes we need more refugees and you're the one paying for it goy.
t. Grandson of a holocaust survivor

[Anonymous No.11776442]

>>11772791
Become a lazy dentist, see 8-10 people a day over 8 hours, charge $125 to their insurance per routine visit, 40 weeks a year: $200-$250k easily. You need a client base of 800-1000 people to live high on the hog in small town USA.

Bonus is a week of vacation every month.

[Anonymous No.11777201]

>>11776245

What about the suburbs tho

[Anonymous No.11777322]

In about 10 years the mass boomer die-out will begin, and housing prices will plummet

[Anonymous No.11777646]

>>11776442
Don't give my secrets away!

[Anonymous No.11777733]

People buying now (at least in western europe) are going to kill themself in 10 years time.