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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
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To: GuavaCheesePuff
Why buy a house when Mom and Dad will let you live with your GF in the basement. I mean come on dog.
2
posted on
07/28/2016 1:22:56 PM PDT
by
Steely Tom
(Vote GOP: A Slower Handbasket)
To: Steely Tom
Yeah, and Obozo will somehow spin this as a good thing.
3
posted on
07/28/2016 1:26:16 PM PDT
by
econjack
To: GuavaCheesePuff
This is a consequence of the student loan scam.
4
posted on
07/28/2016 1:28:32 PM PDT
by
HIDEK6
To: Steely Tom
Herewith, the Millenials’ national anthem, by Lorde:
I’ve never seen a diamond in the flesh
I cut my teeth on wedding rings in the movies
And I’m not proud of my address,
In a torn-up town, no postcode envy
But every song’s like gold teeth, grey goose, trippin’ in the bathroom
Blood stains, ball gowns, trashin’ the hotel room,
We don’t care, we’re driving Cadillacs in our dreams.
But everybody’s like Cristal, Maybach, diamonds on your timepiece.
Jet planes, islands, tigers on a gold leash.
We don’t care, we aren’t caught up in your love affair.
And we’ll never be royals (royals).
It don’t run in our blood,
That kind of luxe just ain’t for us.
5
posted on
07/28/2016 1:30:02 PM PDT
by
elcid1970
("The Second Amendment is more important than Islam. Buy ammo.")
To: HIDEK6
Yup, that combined with the Depression-level job situation.
Their “first house” debt load was spent on college instead, and they aren’t making enough money to even pay that off, on average.
And I suppose it should also be noted that housing prices are still insane - not quite bubble insane, but still about three times the historical norm.
Their parents and grandparents sawed off the bottom rungs on the ladder and saddled them with tons of deadweight. They ain’t climbing anywhere.
6
posted on
07/28/2016 1:30:59 PM PDT
by
thoughtomator
(This message has been encrypted in ROT13 twice for maximum security)
To: HIDEK6
I also think it is attributable to dismal situation for full-time jobs over the past 7 years, and a very low confidence in keeping a job for any length of time.
7
posted on
07/28/2016 1:31:21 PM PDT
by
NEMDF
To: GuavaCheesePuff
Gee, why isn’t our monetary central planners Zero Interest Rate Policy working?
8
posted on
07/28/2016 1:32:18 PM PDT
by
PGR88
To: GuavaCheesePuff
Meanwhile, most people still haven’t learned when and when not to use apostrophes....even when the proper form of “its” is found in the headline at the source of this article....
9
posted on
07/28/2016 1:34:22 PM PDT
by
IChing
(Nuke Mecca already)
To: GuavaCheesePuff
Millennials bought corrupted college degrees instead of homes to fill with real families, just as they were brainwashed to do.
10
posted on
07/28/2016 1:34:28 PM PDT
by
donna
(No one should be allowed to become a citizen or even a resident if they support Sharia Law.)
To: GuavaCheesePuff
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.
Also, the nature of the economy today is more nomadic, where sometimes it is better to move to where jobs are at.
Finally, young gen does not see a house as a big deal as prior generations, and that is sometimes overlooked.
11
posted on
07/28/2016 1:34:59 PM PDT
by
Theoria
(I should never have surrendered. I should have fought until I was the last man alive)
To: GuavaCheesePuff
Bernie to the rescue. He’ll designate all basements a part of the Millennial Autonomous Zone (MAZ), under control of a new branch of the federal government.
Also, all poke stands, restaurants serving quinoa, artisanal bakers, and fixie bike dealers.
Everything’s free! Parents and other mean people have no authority in the MAZ.
What could go wrong?
12
posted on
07/28/2016 1:36:51 PM PDT
by
oblomov
(We have passed the point where "law," properly speaking, has any further application. - C. Thomas)
To: GuavaCheesePuff
Many millenials are spending their mortgage money to pay back student loans. Plus they are doing it on part time jobs. If the GOP is smart they will use this stat to highlight the failed Obama/Clinton regime's policies.
To: GuavaCheesePuff
The Obama recession has reduced the available jobs for graduates, assuming they wanted to work for a living given the alternative of free basement living.
14
posted on
07/28/2016 1:37:03 PM PDT
by
1Old Pro
To: GuavaCheesePuff
Millennials Obama and the DemoRat party
Cause Home Ownership to Drop to It's Lowest Level Since 1965There, fixed it for ya!
15
posted on
07/28/2016 1:38:22 PM PDT
by
Navy Patriot
(America, a Rule of Mob nation)
To: GuavaCheesePuff
Maybe the foreigners who own our housing stock get a better return from renting it to illegals.
16
posted on
07/28/2016 1:39:30 PM PDT
by
mrsmith
(Dumb sluts: Lifeblood of the Media, Backbone of the Democrat/RINO Party!)
To: thoughtomator
"Yup, that combined with the Depression-level job situation."
By my own rough estimate the real unemployment level is at least 19%.
The unemployment rate topped out in the US at 25% in 1933. Most people don't even realize that we are in an economic depression since the government has done such a great job at covering it up.
17
posted on
07/28/2016 1:41:14 PM PDT
by
Jack Hydrazine
(Pubbies = national collectivists; Dems = international collectivists; We need a second party!)
To: GuavaCheesePuff
18
posted on
07/28/2016 1:41:19 PM PDT
by
Mechanicos
(Trump-Pence is for America First.)
To: HIDEK6
Not to mention the Obama economy.
19
posted on
07/28/2016 1:42:07 PM PDT
by
FreedomPoster
(Islam delenda est)
To: IChing
” Really “ thats what is most important on this post ?
20
posted on
07/28/2016 1:42:49 PM PDT
by
al baby
(Hi Mom)
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