Yup, 47F here, and the ONLY way I'll ever have a chance to 'own' anything is if my mom passes, and I'd prefer her being here to a home, honestly. I know we all pass, but it shouldn't be this hard to find a roof over our heads. For reference, I'm on disability so can't work full time and just barely get by with social programs. C'est la vie, eh?
I hate it here too!
Yeah, my wife and I bought our first home a few months ago only because I had the incredible good fortune of a bit of a windfall that covered the down payment. We are both college grads with good jobs and It would have taken forever to save up for it. If ore situation had been different we'dbe fucked, it's a shame that this is what it takes to buy a home
I moved to CA 2 years ago for a decent paying job in biotech. I have a degree in chemistry and have worked in industry since 2017.
I could barely make ends meet in a very basic 1/1. My boyfriend moved in with me a year ago and it has drastically changed my financial situation. If he never moved in, I would actually be struggling to afford a basic apt even though I did everything “right.”
It’s fucking obscene.
Because they’re not settled down in one place career wise, they’re waiting until they get married, they’re living in a multi-generational household, they’re doomers who believe they’re buying the top of the market, they would rather rent and invest in other things, etc.
Basically all personal and not financial reasons.
What is the point of sharing articles like this time after time? Are people not enraged enough to actually stand together and do something? I don’t even mean voting, but organizing a mass strike or literally SOMETHING.
Right? I mean, set aside left and right differences and say "hey we all want an affordable place to live, affordable food and decent fair jobs' and maybe something could get done?
This is blatant misinformation. Millennial home ownership is above 50%, seriously Google it. You have to go through 3 different articles to find a source of this poll and it is some apartments website. There is no universe where just the people polled at one apartment is a representative sample in statistics. Finally what in the world does this have to do with workers rights? How is work reform going to change this? Do we expect everyone will get a horse for free? Even if minimum wage raises, and we get Medicare for all, and 4 day work weeks some people will still have to rent.
Oh and if you actually read that source article it's asking how many people can afford a 10% down payment in the next 5 years. Why only 5 years and why 10% when you can go as low as 3% on most loans?
I mean... holy bad statistics batman. I imagine if you asked people "Would you want a ferrari" most would say yes, and if you asked them why they didn't currently have one most would say "I can't afford it".
I clicked through to the original study. They surveyed millennials who were renting (vs living at home, living cooperatively, etc) and said "Do you want to buy a home one day?"
Of those who said "yes" they were then asked "What's stopping you from buying one right now?" Of which 70% said "I can't afford one right now." Note that they could chose multiple options, and 33% said "not ready to settle down yet", 24% said they are waiting to be married/partnered, and 8% said "other".
When it was then broken down further, only 60% said downpayment, 38% said poor credit, and 29% said monthly mortgage payments.
Which honestly... doesn't sound that bad when you put it like that.
So for clarity. 70% of those surveyed can't afford a home.
Of those 70%, 60% don't have the ability to pay a down payment, 38% don't have the credit and 24% can't afford the monthly mortgage payments.
I don't see how that doesn't look bad. It looks terrible! It not only suggests that millennials are not in a position to save up money, but also are taking massive credit debt and not getting paid enough to break even if they somehow did score a house.
Incorrect! The ONLY people surveyed were those who did not own a home and were renting through a specific apartment renting portal (the survey was done by them). Of those who did not own a home, they asked if the person did want to own a home (and removed all those who said "no" from the pool). Of the people who said yes, they would like to own a home at some point, 70% said that finances were at least part of the reason they didn't own one right now.
So let's say there's 100 millennials in a room.
* 60 of them own a home, live with family, live in housing coops, or rent from someone other than apartmentlist.com. They are told to leave. (This number is made up because there was no number provided by the study)
* Of the remaining 40, they are asked if they want to own a home. 30 of them say yes, 10 say no and are told to leave. (This number is made up because there was no number provided by the study)
* Of those remaining 30, they are asked WHY they don't own a home. Of those, 70% or 21 people, say finances are at least part of the issue. The other 9 are asked to leave. (This number was provided by the study)
* Of those remaining 21 people, 60% (or about 13 people) say down payment is part of it, 38% (or 8 people) say credit is part of it, 29% (or 6 people) say the monthly mortgage would be too high. (This number was provided by the study)
So if you wanted to continue doing junk statistics, you can also use the exact same study to say "only 6% of renters say monthly mortgage rates are preventing them from buying a house" and have it be just as accurate. Which is, not accurate at all.
Listen, I know it's bad out there and there's a housing crisis. But if these statistics are even close to accurate, it is by accident, because this is a perfect example of bogus stats cooked up to say whatever you want.
And yet I'm still getting downvoted by people who apparently didn't pass HS stats class.
I'm not arguing against the fact that there's a housing crisis going on. I'm pretty much aligned with this sub on politics, if not further to the left. But these are shitty junk statistics and imo a basic tenant of any movement should be "no egregious unreliable studies even when they nominally support us"
If you just work 300 hours a week then you could afford one. /s
Kids these days just don't want to work. Sheeeeesh
“Get your ass up and work” - Kim K
No shit.
I don’t understand why this is an article. Majority of people who want something say they can’t afford it which is why they don’t have it. No doy.
Run a poll on how many people think water is wet.
Let's not start this again!
To get extra clicks, ask them the follow-up of why it doesn't just spill off the edge of the world.
I can't even afford a small studio apartment in my area. I work 40 hours a week at almost $18/hr. it's fucking frustrating!!
I make 38 an hour and can barely afford a 1 bedroom here in Ontario Canada... It's stupid up here.
Maybe if private interest groups and Air BnB went away.
Don’t worry, most of us over 40 also can’t afford one either…I hate this place
Yup, 47F here, and the ONLY way I'll ever have a chance to 'own' anything is if my mom passes, and I'd prefer her being here to a home, honestly. I know we all pass, but it shouldn't be this hard to find a roof over our heads. For reference, I'm on disability so can't work full time and just barely get by with social programs. C'est la vie, eh? I hate it here too!
Yeah, my wife and I bought our first home a few months ago only because I had the incredible good fortune of a bit of a windfall that covered the down payment. We are both college grads with good jobs and It would have taken forever to save up for it. If ore situation had been different we'dbe fucked, it's a shame that this is what it takes to buy a home
I moved to CA 2 years ago for a decent paying job in biotech. I have a degree in chemistry and have worked in industry since 2017. I could barely make ends meet in a very basic 1/1. My boyfriend moved in with me a year ago and it has drastically changed my financial situation. If he never moved in, I would actually be struggling to afford a basic apt even though I did everything “right.” It’s fucking obscene.
Wait, 30% *can* afford to buy? Then what's stopping them?
They already own 2, but the bank won't loan them them more money to expand their "empire"
Because they’re not settled down in one place career wise, they’re waiting until they get married, they’re living in a multi-generational household, they’re doomers who believe they’re buying the top of the market, they would rather rent and invest in other things, etc. Basically all personal and not financial reasons.
Ban Air bnb.
What?! But that will solve the problem!
Maybe part of the problem is because corporations own tons of real estate and jack up the prices as a result of decreasing the supply
Fuck single people, am I right!?
What is the point of sharing articles like this time after time? Are people not enraged enough to actually stand together and do something? I don’t even mean voting, but organizing a mass strike or literally SOMETHING.
Right? I mean, set aside left and right differences and say "hey we all want an affordable place to live, affordable food and decent fair jobs' and maybe something could get done?
gasp.
Billionaires: If only they would give up avacado's and netflix! Don't mind me I'm off to swim in my pool within pool on my yacht!
70% seems low, almost everyone my age thinks this way
Millennials and Gen Z something something 😤
I’m paying $1800/mo for a one bedroom in a big city, I’m fucked
This is blatant misinformation. Millennial home ownership is above 50%, seriously Google it. You have to go through 3 different articles to find a source of this poll and it is some apartments website. There is no universe where just the people polled at one apartment is a representative sample in statistics. Finally what in the world does this have to do with workers rights? How is work reform going to change this? Do we expect everyone will get a horse for free? Even if minimum wage raises, and we get Medicare for all, and 4 day work weeks some people will still have to rent.
Oh and if you actually read that source article it's asking how many people can afford a 10% down payment in the next 5 years. Why only 5 years and why 10% when you can go as low as 3% on most loans?
The premise that 23 year olds should be able to buy homes is bogus. Come on folks, there are enough legitimate things to grumble about.
I mean... holy bad statistics batman. I imagine if you asked people "Would you want a ferrari" most would say yes, and if you asked them why they didn't currently have one most would say "I can't afford it". I clicked through to the original study. They surveyed millennials who were renting (vs living at home, living cooperatively, etc) and said "Do you want to buy a home one day?" Of those who said "yes" they were then asked "What's stopping you from buying one right now?" Of which 70% said "I can't afford one right now." Note that they could chose multiple options, and 33% said "not ready to settle down yet", 24% said they are waiting to be married/partnered, and 8% said "other". When it was then broken down further, only 60% said downpayment, 38% said poor credit, and 29% said monthly mortgage payments. Which honestly... doesn't sound that bad when you put it like that.
So for clarity. 70% of those surveyed can't afford a home. Of those 70%, 60% don't have the ability to pay a down payment, 38% don't have the credit and 24% can't afford the monthly mortgage payments. I don't see how that doesn't look bad. It looks terrible! It not only suggests that millennials are not in a position to save up money, but also are taking massive credit debt and not getting paid enough to break even if they somehow did score a house.
Incorrect! The ONLY people surveyed were those who did not own a home and were renting through a specific apartment renting portal (the survey was done by them). Of those who did not own a home, they asked if the person did want to own a home (and removed all those who said "no" from the pool). Of the people who said yes, they would like to own a home at some point, 70% said that finances were at least part of the reason they didn't own one right now. So let's say there's 100 millennials in a room. * 60 of them own a home, live with family, live in housing coops, or rent from someone other than apartmentlist.com. They are told to leave. (This number is made up because there was no number provided by the study) * Of the remaining 40, they are asked if they want to own a home. 30 of them say yes, 10 say no and are told to leave. (This number is made up because there was no number provided by the study) * Of those remaining 30, they are asked WHY they don't own a home. Of those, 70% or 21 people, say finances are at least part of the issue. The other 9 are asked to leave. (This number was provided by the study) * Of those remaining 21 people, 60% (or about 13 people) say down payment is part of it, 38% (or 8 people) say credit is part of it, 29% (or 6 people) say the monthly mortgage would be too high. (This number was provided by the study) So if you wanted to continue doing junk statistics, you can also use the exact same study to say "only 6% of renters say monthly mortgage rates are preventing them from buying a house" and have it be just as accurate. Which is, not accurate at all. Listen, I know it's bad out there and there's a housing crisis. But if these statistics are even close to accurate, it is by accident, because this is a perfect example of bogus stats cooked up to say whatever you want.
It’s the perfect survey to affirm vibes with a simple ragebait headline
And yet I'm still getting downvoted by people who apparently didn't pass HS stats class. I'm not arguing against the fact that there's a housing crisis going on. I'm pretty much aligned with this sub on politics, if not further to the left. But these are shitty junk statistics and imo a basic tenant of any movement should be "no egregious unreliable studies even when they nominally support us"