Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Millennials Cause Home Ownership to Drop to It's Lowest Level Since 1965
NBC News ^ | July 28, 2016 | Diana Olick

Posted on 07/28/2016 1:21:21 PM PDT by GuavaCheesePuff

After rising just over a decade ago to its highest level ever, the nation's home ownership rate fell to match its all-time low and could drop even further in the months to come.

In the second quarter of this year, the rate fell to 62.9 percent, not seasonally adjusted, which is the same as it was in 1965, when the U.S. Census started tracking the metric. During the epic housing boom in the mid-2000s, the rate soared as high as 69.2 percent. That was when politicians touted the so-called "ownership society."

(Excerpt) Read more at nbcnews.com ...


TOPICS: Business/Economy; Culture/Society
KEYWORDS: economy; housing; jobs; millennial; millennials; obamanomics; obamegacy
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-78 next last
To: elcid1970
I prefer Weird Al's version: Foil
21 posted on 07/28/2016 1:42:50 PM PDT by IYAS9YAS (Warning: This post has little to do with reality, and nothing to do with polite society.)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Steely Tom
Why buy a house when Mom and Dad will let you live with your GF in the basement. I mean come on dog.

Especially now, since Obamacare will insure that mom and dad die early and leave you the house.

22 posted on 07/28/2016 1:43:37 PM PDT by Cementjungle
[ Post Reply | Private Reply | To 2 | View Replies]

To: GuavaCheesePuff

Let’s not forget that when we got the Big ‘O’ in office the phrase ‘renting is the new owning’ (WTF!) was the talking point.

One of my Wife’s lib friends said that to us once - I beat her down and fast: ‘We may pay a mortgage, but it’s less than renting and one day it WILL be paid for.’

Fools abound...


23 posted on 07/28/2016 1:45:23 PM PDT by BBB333 (Q: Which is grammatically correct? Joe Biden IS or Joe Biden ARE an idiot?)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Theoria

-—I don’t know how they measure home ownership. I don’t know if they consider having a mortgage as being a homeowner, which is vastly different than owning something out right.
.
.
.
Only a fool will ever “own” their home. I could have paid off my houses 40 years ago, but the tax credit penalty is too much to “own” a home. You are better off borrowing against it over and over again.

Write it off.

I can’t imagine anyone wanting to actually “own” their home.

Get it down to 20k and then borrow against it with such low interest rates. You get the write off and you can bank at least 10% off the market on your home loan. Silliness.

Never never never own your home. Even if you are so insecure as to think that “owning” your home provides security of some sort, think again, the feds will drop kick you like a mule when you are old if they think you “own” anything. Best put it in an SCorp, CCorp or LLC if you are that insecure. But never never never OWN your property.

I am not a lawyer, but I have many many lawyer and banker friends who would all tell you the same thing. The richest people I know OWN nothing.


24 posted on 07/28/2016 1:47:50 PM PDT by Bubba Gump Shrimp (A Liberal is someone who cannot accept that there is a Law of Unintended Consequences)
[ Post Reply | Private Reply | To 11 | View Replies]

To: GuavaCheesePuff

Oh sure, blame millenials. They’re the ones who caused decades of income stagnation and artificially inflated home prices...


25 posted on 07/28/2016 1:52:59 PM PDT by Boogieman
[ Post Reply | Private Reply | To 1 | View Replies]

To: Bubba Gump Shrimp

I see where you are coming from, as a strictly monetary calculation you’re right.

But the peace of owning, free and clear, my house is worth far, far more. I do know several “rich” (assets in excess of 1 million) folks who also are debt free.

There are a LOT of things more important than the bottom line and the total in the bank account.

Fregards


26 posted on 07/28/2016 1:53:45 PM PDT by RedStateRocker (Better questions that can't be answered than answers that can't be questioned.)
[ Post Reply | Private Reply | To 24 | View Replies]

To: GuavaCheesePuff

It’s the millenials’ fault, not Obama’s. So typical.


27 posted on 07/28/2016 1:53:56 PM PDT by ilovesarah2012
[ Post Reply | Private Reply | To 1 | View Replies]

To: GuavaCheesePuff
I dearly love my millennial relatives, God bless'em, and even as a hardass uncle I realize that they've been dealt a tough hand. True, they aren't looking at a draft to the rice paddies as I was; they are, however, looking at student loan debt that tends to discourage if not outright prohibit further debt excursions such as home mortgages. So there's that. Add it to a job market tougher than the media will acknowledge because they won't be politically honest, and yeah, I get it. I'll help as I can.

I did have one nephew suggest that I might be most helpful by dying discreetly and leaving the pile to my heirs. There's a future for that little feller in politics. I parried by reminding him he's going to be paying my social security and I intend to live to 110.

They're still worthless slackers, of course. Dang kids these days. STAY OFF MY LAWN!

28 posted on 07/28/2016 1:54:06 PM PDT by Billthedrill
[ Post Reply | Private Reply | To 1 | View Replies]

To: GuavaCheesePuff

More rent money for me.


29 posted on 07/28/2016 1:54:39 PM PDT by dfwgator
[ Post Reply | Private Reply | To 1 | View Replies]

To: GuavaCheesePuff

The mobility thing is huge, I think. The days of working one or two jobs for your entire career are over for many. I know if I were much younger I’d go where the good jobs are and worry only about putting enough away to buy a place when I retired.


30 posted on 07/28/2016 1:55:30 PM PDT by RedStateRocker (Better questions that can't be answered than answers that can't be questioned.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: IChing

I have given up any hope for Americans to use proper punctuation or grammar.


31 posted on 07/28/2016 1:55:57 PM PDT by ilovesarah2012
[ Post Reply | Private Reply | To 9 | View Replies]

To: RedStateRocker

And sadly a million dollars aint squat today


32 posted on 07/28/2016 1:59:11 PM PDT by al baby (Hi Mom)
[ Post Reply | Private Reply | To 26 | View Replies]

To: Bubba Gump Shrimp
...the feds will drop kick you like a mule when you are old if they think you “own” anything....

Please elaborate.

33 posted on 07/28/2016 1:59:12 PM PDT by gloryblaze
[ Post Reply | Private Reply | To 24 | View Replies]

To: GuavaCheesePuff

Liberals blame the victims


34 posted on 07/28/2016 2:05:01 PM PDT by NoLibZone (Hillary's nominatin = 60's Violence. "Constant conflict is actually often good politics"-Clinton)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Bubba Gump Shrimp

To each their own; the borrower is the slave of the lender.


35 posted on 07/28/2016 2:10:02 PM PDT by Theoria (I should never have surrendered. I should have fought until I was the last man alive)
[ Post Reply | Private Reply | To 24 | View Replies]

To: Theoria

Most young people see no point in being tied to a house if they have no children anyway; we traffick immigrants here to offset this trend (and replace the lost generations of children in classrooms as well as bedrooms).


36 posted on 07/28/2016 2:15:04 PM PDT by kearnyirish2 (Affirmative action is economic warfare against white males (and therefore white families).)
[ Post Reply | Private Reply | To 11 | View Replies]

To: GuavaCheesePuff
But at least they now have free healthcare. Oh wait, maybe the free healthcare is so absurdly expensive that the can't afford to buy a home.
37 posted on 07/28/2016 2:16:46 PM PDT by dhs12345
[ Post Reply | Private Reply | To 1 | View Replies]

To: Steely Tom

They have little incentive to buy a home if 1) they work McJobs, and 2) they have no intention of breeding anyway. I’ve been married for about 20 years, and if I wasn’t I would shamelessly live in my parents’ home. Jesus did until he was 30...


38 posted on 07/28/2016 2:17:29 PM PDT by kearnyirish2 (Affirmative action is economic warfare against white males (and therefore white families).)
[ Post Reply | Private Reply | To 2 | View Replies]

To: kearnyirish2

True. GOP/Dem migration plan has always been toward one direction like that or another.


39 posted on 07/28/2016 2:18:56 PM PDT by Theoria (I should never have surrendered. I should have fought until I was the last man alive)
[ Post Reply | Private Reply | To 36 | View Replies]

To: thoughtomator
Don't forget the $7,000 yearly premiums for the government mandated healthcare. That is a down payment or partial monthly payment on a mortgage.
40 posted on 07/28/2016 2:19:20 PM PDT by dhs12345
[ Post Reply | Private Reply | To 6 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-78 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson