This tells me that Gen-Z isn’t saving and spending all their extra money on expensive coffee and internet/data plans to watch TikTok.
The young should form a REIT and buy homes as groups.
That tells me that they think renting is better because they can bag on paying it and disappear to the next town. Kinda like they are doing with their student loans.
Let’s check in with them after ten years when they realize all the equity that they didn’t capture and all they have to show is a pile of cashed rent checks.
Translation in order to suggest The Hill article is spin....
Gen Z -- "it's all I can afford," so yeah, I "prefer" renting because it's all I can afford....
Hardly proof of renting being a "better option" when you can't afford the option and so, therefore, it ISN'T an option.
The TOP reason is you can't afford another option. FJB.
Here by the beach in Jupiter, it’s a minimum of $3.5K/month annually for a 2/2.5 w/ a walk to the beach. Not too long ago, the seasonal monthly rates weren’t much higher. Now they start at $7k/month.
Renting would require me to pay three times what I currently pay in mortgage payments. Those properties must be in very poor condition.
For much of Gen Z, renting is the ONLY option. That’s how the globalists want it.
Old country saying, “pouring money down a rat hole”
Per Zillow, the estimated rental price on my house is more than twice my 15-year mortgage payment.
I think I have chosen wisely.
They never learned responsibility.
Generally the Gen-Z generation are idiots.
It can be
Depends on many factors
And the market you live in
In Nashville I’ve done great with homes
In Memphis I might rent
If that makes sense
I owned a house, that brcame to be in the extended runway overrun expansion near Norton AFB, and from that purchased a home near Fontana, wwhen the steel mill was shutting down.
Sold that, moved to Ny, and have rented everr since.
Apartments, not ‘condos’, circumvent divorce squabbles over houses, since only the contents can be argued about.
Also, maintenance problems are the responsibility of the lessor.
What do I know?
If you don not have a PAID FOR HOME at the age of retirement, you will suffer and could easily lose everything as you become priced out of a place to live, while your retirement income, probably SS, remains the same.
They are not getting the jobs that they thought they would get to be able to afford a house. With rentals at the crazy prices they are it will be a wonder that they leave their parents’ hones.
Student loans are not helping.
The largest gap ever in median income to housing ratio, and they are saying the people just starting out are not buying homes! This revelation is truly shocking!
Greatest Generation are Boomer parents.
Boomers (1946-1964)
Gen X (1965-1979)
Gen Y known as Millennials (1980-1994)
Gen Z (1995-2009)
Gen Alpha (2010-2024)
Looking at these age demographics, it becomes obvious who has done the worse to destroy American greatness, basic values, logical thinking/commonsense, and basic morality, not to mention expanded on the Boomers "if it feels good do it" with no concern for standards, meritocracy, and plain goodness.
Keep in mind the numbers above are just birth time frames. What those who were born in those eras did when they grew older or didn't do is their legacy.
I used to blame it on the Boomers (me) for the beginning of the American slide downward. After reading Robert Bork's book, "Sliding into Gomorrah" he makes the point that after WWII, the Greatest Generation were so obsessed with new opportunities/money/success that they let their Boommer kids run wild.
Think the '60's with the free sex, drugs, and rock n roll. That's when American morality really started go down and it's been heading toward that abyss exponentially with each generation. Tell me I'm wrong.