OverVolt
Lifer
- Aug 31, 2002
- 14,278
- 89
- 91
The millennials will be the ones getting the last laugh when the boomers try to sell their homes that rose 400% In value over their lifetimes when they retire and go to downsize. The millennials have time on their side. One more downturn and the boomers retirement goes poof into the abyss of paper losses. The boomers shouldn't be so smug about what they think millennials should or should not be buying. What are the odds of a downturn over the next 10-20 years? Pretty much guaranteed. You had the 70's oil crisis, 1987 2001 and 2008. Good luck old tards, even if the millennials do move out of the overpriced neighborhoods that's going to leave nothing but a geriatric husk of a neighborhood economy wise 10 years down the road. Young people spend the most money, not soon to be fixed income boomers no matter how far they shove their head up their arse and sing lalalalalalalla hope my retirement pans out.I'm going to first say. I feel for you. I see where you are coming from. You want to live a certain place and that's cool.
But let's look at this a little differently. If you want to get down to it it is a bit of entitlement is it not? You feel entitlement to live there. And this is the big problem these days. All the kids feel entitled to far to many things. Look at it this way, you can't afford to live there. So you should be moving some place else to live. But you don't want to. You feel you should get to live there. But as you said you can't afford to. So instead of moving you are angry about it and probably feel you want to give up and nothing else will do.
The answer is to move some place else. Get a different job, buy a cheaper house in another town. Just because that's not the life you dream of doesn't mean you shouldn't do it. You can be discouraged or you can go do something and move forward. Nobody owes you and me that $350k house.
I was in the same situation. I can't go live in my own town I grew up in because the houses are to expensive. So what do I do? Did I stay there and bum around and maybe live with parents? No, I had to move some place else. I had to do jobs I may not have liked. Your parents probably bought their house when that market was small, the town was a smaller town (or city), it didn't have everything is has now. Well you need to go find a town like that used to be. Maybe less to do, less exciting, but better prices you can manage.
This is the problem with the newer generations. They believe they should be living like (and where) their parents live now, not how their parents lived when they first started.
Look at it this way, what if we grew up in Beverly Hills, do we then believe we are entitled to live in and afford Beverly Hills mansions? No, you gotta start some place else.
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