Add their student loan debt to that.
Young adults, listen well: stay out of all forms of debt. You will be glad you did.
This doesn't make a lot of sense to me. If GenX homeowners - that's people in their late 30s to late 40s - were living in "affordable starter homes," they wouldn't have negative equity. And if Millenials (like my daughter, who prudently rents) want to buy more low-priced housing than is available, new construction will provide it.
I don't see much low-priced (for this area) new construction. What's being built nearby is priced 20% to 50% than current prices in my subdivision.
A friend of mine buys commercial properties in Seattle.
Well, he USED TO. Problem is that if a person owns a property they paid a million for, but it’s only worth $500k now, they CAN’T sell. They’d rather let the bank foreclose. So most stuff is priced far higher than it’s worth, if it’s for sale at all. So he buys elsewhere now
Baby Boomer here who paid cash for his last two homes.
Its the end-game of a money-printing FED, a fiat currency, and a massive government.
A culture of debt and crony-capitalism, where the politically-connected can game the system and everyone else pays in the form of debt slavery and debased currency and savings.
I just don't understand...the obama bootlickers posing as financial journalists wouldn't be trying to blow sunshine up their viewers posteriors, would they?
I’m an Xer and my husband and I own our home outright. I guess we’re an anomaly, as are a few friends who also have no mortgages.
I resemble that statement. My house is a big anchor that I’d love to get rid of. BUT stupidly I put a large down payment and have been paying my bills. When the market crashed the entire neighborhood was wiped out. If only I had a crystal ball I would have rented after I sold my first house.