There was a tragic incident in Durham, North Carolina yesterday. A father snapped and killed his four year old son and attempted to kill his other two children who managed to escape. He then attempted suicide. As it turns out, the father fell apart after several years of financial problems related to their 3500 square foot home in a plantation community. The mixed race couple by all appearances were very devoted, friendly, and participated in community activities. The father was an unemployed EMT and the mother sold Avon products. He was apparently distraught after finally realizing he was going to lose the home. They did not belong in that house. I think part of the problem is HGTV which promotes luxurious offerings like granite countertops and stainless appliances and a bathroom for every bedroom. These young people need to be taught about starter homes or rentals. Thank you Barney Frank for making banks give loans to people who cant afford them!
Good points. Especially with young people today, they seem to feel entitled to a McMansion. We have friends of the family whose have kids who bought a few McMansions. Each one was custom built. They lived in each house for a few years, built up some equity, then moved on to another custom built house. I can’t imagine being 30 years old and expecting to live in a custom home with granite counter tops and all that. But for the “yuppies” out there, they can’t imagine living in a house similar to the house they grew up in. They prefer a McMansion instead.
And it’s funny to see McMansions with so many bedrooms occupied by a childless couple. Young couples with no intention of having children want that McMansion anyway.
You are right abut the starter homes.My Mom sold real estate for over 30 years.Starting in about the mid 90’s the young couples started to want the home they grew up in and not starter homes anymore.It seems the younger generation has never been taught about waiting for things and earning them?
NO, that's NOT part of the problem. It's nowhere near the problem - I mean, how many people watch HGTV? C'mon. Plus, HGTV shows other types of homes as well; regular homes, apts., condos, duplex, etc. So, HGTV has nothing to do with this problem. Just my opinion.