Why aren't millennials buying houses?

wtf dudes, with 500k here in my third world country you can buy a 200x200 meters mansion with pools and shits, and a fucking tenis court

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Wages not rising. Too much debt already. This is the first generation to be poorer then their parents. It only goes downhill from here.
If you ask me the fed fucked up the bailout in 2008. They unintentionally created an oligarchy.

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>compton ca
>no bars on windows
>no chainlink fence
>no pitbulls chained up out front
Its like you want to be the first to die or something.

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Correct. About 30% of the economy is fake. It only benefits boomers, the rest of society is gauged.

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How 3rd world are we talking? Do you have your own toilet? Is the milk pasteurised or not?

I wouldn't live in s doghouse like that.

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But they are not dying off quickly. People now live 100 years.

What is the point of this thread? If you live in Palo Alto you probably are well payed and can afford it right? Or do all millenials in the US live in Palo Alto? Do all you faggots have to work in silicone valley and drive Teslas and eat avocado toast and shit I really don't understand

t. europoor

It's a bungalow so it's pretty big inside, yet not worth anywhere near as much as they're asking.
But yeah it's sill ugly.

Argentina, I'm pretty good actually, but my country is fucked.

This is the first time in my live that I'm happy of being in this shit hole

> pic related

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Debt is a form of slavery. Only an idiot would buy at peak.

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Some of the houses that are listed are in Uruguay (basically the tax paradise where are the successful entrepreneurs live and build their houses there)

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>I really don't understand
Should have started with this

>unintentionally

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Do the girls have big booties and small tiddies?

So can you explain? Why is it a problem for millenials that there are high end areas and expensive states? What do you propose is done?

>shitty american cardboard houses
lmao

inmuebles.mercadolibre.com.ar/casas/venta/mansion_PriceRange_1880000USD-0USD

Here is what $1 million would buy you in my third world country

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.

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You have everything, the girls are pretty good, I´ve travelled to a lot of places and still prefer the locals, so If you make it you can come here and fuck some chicks

thats listed for 20m swedish krona which is 2.2m usd.

Besides the exaggerated memeing. It's all expensive, it's not just the high end areas.
Further to this interest rates can only go up. Being tied to a 400,000 mortgae at 2% is one thing, what happens when the base rate raises to 5%? You'll default.

I'm from the UK so I can't speak exactly about America, but both countries would benefit from not importing hundreds of thousands of people each year.

You wingman for me and I'll give you the Falklands.

fucking hell

Well the way the SEK is going it will be a million before the years end.

argentinian girls are libshit roasties unless you find some conservative ranchers daughter.

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I dont really care about those remote islands, but I think that I would be able to explode a lot of oil there so its a deal my man.

I call that a shed. This is a normal/average livable house.

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Haha who the fuck goes for a mortgage without a fixed rate. Deserved to get fucked

Ohh, those are the "feministas" basically the democrats here, nobody likes them and are basically almost all lesbian because we dont fuck them, here is a good example of conservative pussy

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> not in flood zone
fuck you can't even have nature demolish the cuckshed for free (+ profit from insurance)

>here is a good example of CONSERVATIVE pussy
>sluts.jpg
not a very good example.

Fixed rates in the UK only exist for 10 years.

...

Well, some high school girls then?

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>People are living 100 years.
Correction. Most of those people are existing to 100 years. Very few people that get to that age are actually doing any type of living. That will all change very soon when the healtcare system collapses.

They are clueless, ppl assume they are more intelligent then they are.

BTW I have 'special drawing rights', I should apply to one of the branches.

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Is it just me or are mortgages a scam?

30yr ""''"""4.5%"""""" $160k loan would cost you a total of $291k ....

Why don' they say this loans actual cost is actually 81% instead of """4.5%""""

running the world

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So they can bait normie fucks into buying houses. I choose to live at my moms crib for 5 years. All these stupid fucks moved out and racked up debt, while I'm sitting on almost 100K in savings + other assets. It pays to not be a dipshit.

Lived with my parents for years to save up, then bought crypto early 2017. Moved out with profits from the bull run. Feels good after years of friends/family giving me shit for living at home. Now they're asking me for money.

t. retard who just figures out how loans work

Oh boy you must be new. Let me tell you about usury and a group of people known as the Hebrews.

>quiet
>literally next to an airport
>also gunshots because compton

>American paper wall
>Killed inside home by a hollow point of all things

Mortgages are literally the best thing about real estate. You don’t understand why because you’re a brainlet.

imagine if you could work remotely over telephone lines. sadly it hasn't been invented yet

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What is great about paying almost double of what your borrow?

Should people loan out their money for free? And also get less back due to inflation

waste of good quints

Go construct that kind of leverage on an exchange and see how the terms stack up to a mortgage. You are buying an appreciable, rentable asset, not a fucking stereo.

youtu.be/UN1GJLBM8Wc?t=883

>Why cant I loan hundreds of thousands to buy an appreciating asset FOR FREE
Are you actually this fucking retarded you dumb fuck brainlet?

cool stuff begins at 14 min 43 sec. Hard redpill drop.

Honestly the same, bought a Vette and a Rolex with some of the crypto profits. Terrible investment decisions, but I had to spend a little to appease my ego lmao. I still have family members mad I live at home haha

Houses are depreciating assets. Unless you're renting it out.

youtube.com/watch?v=H_ILu-R-Nz8

I bought a 1 bedroom house in downtown San Diego. $325k, $40k downpayment provided by family, I can handle the rest of the mortgage.

They are very busy buying avogados and stick them in their arses

Who cares if its an appreciating asset? Cars depreciate like crazy and they still charge interest on them.

Also the interests rates are nowhere near the rate of inflation so stop trying to scam people.

Cold and rural is what you want

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Because boomers got divorces and opened the borders imo

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because I refuse to buy boomer bags at 50x.

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>Why should banks get free money to lend out to people for interest and can lend out more money than they actually have and charge interest on it because they are banks
Fractional banking and non-asset backed currency was a mistake.

WE CAN'T AFFORD THEM AND FUCK YOU BOOMERS

>muh fractional banking
this has nothing to do with what we were arguing about, not having a fractional banking reserve system would cement my point even further.

lmao it's a complete joke, nobody I know is even considering ever being able to own a home because of how absurd the prices are. Fucking crash when

Why would people who aren't married and don't have children buy houses?

Too fucking expensive. House prices are crazy these days, seems to be the same everywhere.

To own land and have your own lawn to mow.

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If fractional banking wasn’t a thing then interest rates for having money in a bank would be much higher and and loans would be fewer resulting in lower housing costs.

So basically fuck off kike.

Give it a few years and it'll be time to eat the rich again

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Cool hypothetical that will never happen, but it seems you agree with me that lower interest rates for borrowing is retarded and would lead to even more retarded housing prices.

Fractional reserves are the underlying problem kike because without them homes would be affordable.

The underlying problem is clearly the abuse of local zoning and the consequential forbidding of development by homeowners.

Its not really the homeowner that forbid development. Most homeowner would cum in their pants, if their plot of land sudden got rezoned for commercial multi unit housing.

The zoning laws are deliberately made to be obtuse and restrictive so that only the well connected have the political and financial pull to get a large multi unit housing project through. These people are also the one who end up with the power of setting the market rate for housing.

For example, I own a plot of land in NYC, with R4 zoning. Theoretically, I am allowed to apply and build a 3 family residential house instead of 2. But to get that approved, I would need to personally replace and enlarged the decade old plumbing infrastructure of my neighborhood. Which is obviously out of the question for a sole homeowner.

Meanwhile I still need to pay 10k a year in property tax to the city.

Not him, but in Greece you can do it as well and the quality of life is great if you live in a city. I've lived in Canada for a few months and I'd take Greece anytime over that.

I was not specific enough in my own post. I meant that I was talking about suburban areas. I do not understand cities, but in the suburbs where I am from, homeowners will band together to stop any multifamily building project anywhere that they can. This happens regardless of what may happen to their own zoning. If the community is already popular and sought after, then the homeowners stand to make a killing with no risk by just denying developments. It happened in my own hometown last year.

>I bought a 1 bedroom house
>$325k

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>Buy house and rent it out
>Roommates rents cover cost interest, insurance, and taxes
>Essentially living for free since my share of the mortgage goes right into the principal
>Writing off 100% of the property taxes and mortgage interest that I'm not paying anyway
>Low fixed interest on hundreds of thousands of dollars in leverage for a likely to appreciate asset
>Satisfaction and stability of owning residence, not at the whims of landlords who might sell the property and evict me

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>the google maps preview

Both sides want strong military.
Military says new missile defense and landing craft. Keep A-10.
Government says no A-10, new multi-role with loads of issues. More aircraft carriers critically vulnerable to Chinese DT, 700-400 anti carrier missiles. No landing craft. Ten thousand abrams yearly that just get shipped to overstock yards.

They aren't smart, they don't deserve the headcanon

Because they are too fucking expensive

>no train in back of property
wont stop you from gettin raped