Jump to content






Photo

Your Folsom Home Sales Update


  • Please log in to reply
31 replies to this topic

#31 Rich_T

Rich_T

    Hall Of Famer

  • Premium Member
  • PipPipPipPipPipPipPip
  • 1,728 posts

Posted 10 January 2015 - 06:13 AM

 

This was my response on FB to the article

 I'm 29, my wife and I are on our 3rd house, and live in folsom. I had no idea less than 7% of homeowners were under 35 here. I would have liked to have seen the bee interview some people like myself and my wife. We were fortunate to have graduated with no debt and well paying jobs, but I can't imagine renting and throwing away money each month. I enjoy home ownership, even cleaning the gutters and the yard. Homeownership has benefited us very well financially, which I encourage to most our generation. We also value experiences like the people quoted in the article - we just got back from almost a month in Europe. And guess what - our real estate investments were what afforded us that opportunity.

 

 

I'm really tired of hearing about "millenneals" and the general stereotypes going around - they don't want kids, they dont want to settle down, they dont want to work, etc. My wife and I are expecting a baby, we bought/sold $1,003,000 in real estate in the past year, we enjoy traveling, but we also work hard. We graduated college with ZERO debt because we worked 40 hour weeks at the same time as getting our degrees (well, my parents helped alot too). We aren't exceptions - our friends and colleagues are the same way. I'm sick of news media interviewing "millenneals" who took huge college loans out to get degrees in liberal arts, and then wondering why they cant get jobs and afford a home. 

 

Now imagine if you had been born 40 years earlier.  No need for both spouses to work full-time at "well-paying jobs" just to afford a house and what might be called a "normal" lifestyle.  No high college costs for parents to largely help pay.  Things are not once they once were, and it's hard to see things ever returning to such a situation.  Now consider WHY this transition has occurred - it's an interesting thought experiment, which ultimately leads to a realization that the elite has been exploiting the middle class.  That sounds very "leftist", but I'm anything but.



#32 rip

rip

    Netizen

  • Registered Members
  • PipPipPip
  • 64 posts

Posted 10 January 2015 - 06:51 AM

 

I think there is a misconception of the attitude of millennials, that they dont WANT to own a house, which in my experience is wrong. Many of my friends own houses, but only because they are financially able to do so. The others who don't own houses DO WANT to purchase, but aren't able to financially (loans and low paying jobs are the issue). 

 

I would say this is spot on, and far more troubling than those who choose not to buy to accommodate a life style.  The double whammy of high student loan debt and an economy that doesn't produce enough good paying jobs is likely to prove problematic for the housing market going forward.  






1 user(s) are reading this topic

0 members, 1 guests, 0 anonymous users