Well, yeah. “House” no longer means “Place where people live”. It’s now defined as “long-term investment/passive income generator”.
Great only 13 years until I can buy a fucking house
And yet they wonder why populism and extremism is on the rise…
The downpayment required on a home in my area, is almost the cost of the entire house was 20 years ago. We can’t even save for a downpayment when the finish line is running ahead of you at full speed
I bought a property for my son to live in. I figure, I can pay for a modest condo now or he can buy it after I die. And #2 means paying rent for 20 years or so.
“Access Denied”
anyone have a TLDR? I guess I pissed off cnbc somehow.
Here you go https://archive.is/zFv0k
Thanks!
So after reading a bit does this mean that houses will just be for the retired people in a few years?
shit sucks. bought my house at age 38, that was fucking old back then, but i’m in an expensive metro so okay. thing is, we’re ready to upgrade and an upgrade is going to be fucking $2M, if i can even find a fucking upgrade in my town (questionable). all of this to say: i’m probably stuck, and if i can even move, some schmuck is going to buy my mediocre house for like $1.2 - $1.3M. housing’s totally, completely fucked.
If only they weren’t into avocado toast and coffee, this wouldn’t be a problem. /s
F*CK
Remember that, according to Whoopi Goldberg, if you can’t afford one you are just lazy.
Remember when people thought she was cool…
As a TNG fan she really hurts
Yeah, I’ve been saving hard for nearly 6 years now, I have zero debt from higher education, extremely cheap rent because I live in my parents’ backyard, and a well-paying job… and I still don’t know if I’ll be able to get a house by 2026.
If even one of those factors were different for me, then owning a home would become completely unrealistic.
And politicians wonder why we’re not having kids, huh.
I’m in the same boat. I’m not living in my parent’s backyard, but I still have cheap rent. All I can do is sit and wait and hope something changes.
That’s just a nonsensical metric to use to track the impact on young buyers. The fact that it has risen from 49 in the past year means there is something big going on, but what an indirect way to track it!
The median age of first-time buyers also rose from 35 to 38, while the share of first-timers dropped from 32% to 24% of all buyers for the year ending July 2024.
Median is better, and the fraction of first timers is an indicator. Would be best to know the median age of first timers.
