Why aren't millennials buying houses anymore?

Happens when you turn an American city into some kind of international hub for all sorts of chinks, cucks and gooks to compete in

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Because boomers are selling the houses (and the nation) to the chinks

Because they're a bad investment and they're a bad investment because their prices are being manipulated by the government instead of rising and falling organically as they would if left to market forces, now it's gotten so bad with this artificial inflation that we literally couldn't go back without there being blood in the street.

LM AO
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The capitulation after the pension bubble bursts is going to be devestating for their generation, it's what keeps me going. 5 years from now I am going to buy some boomer's cherished classic car for dirt cheap and then proceed to get it vinyl wrapped with my favorite anime waifus and send him a picture of me dabbing next to it.

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Because boomers opened the door to foreigners which has lowered wages and increased demand for housing (and made it more expensive). In addition to facilitating feminism which has pushed women into the workforce (lowering wages) and destroying the family (lowering demand from natives for housing because single people can get by with small apartments or sharehouses).

I think the answer he wants is "because the 1% aren't paying their fair share". This is my biggest gripe with communists. They make some good points about the rich exploiting the working class but they crap all over their good points with their low iq retarded advocacy for mass immigration from shitholes and gender equality bs.

How does the pension bubble burst?
Inflation?

when you say millenials are more education you should qualify that by saying in the sense that have more paper credentials but the overall quality of instruction has gone down substantially. how much of that education is in STEM?

Obviously it doesn't. Printing more money is the solution to this whole mess.

When enough collect it at once. That's how ponzi schemes fail.

Fuckin' A.
Best post I've read all day.

>This is my biggest gripe with communists. They make some good points about the rich exploiting the working class but they crap all over their good points with their low iq retarded advocacy for mass immigration from shitholes and gender equality bs.
If you think libdems and commies are the same people you are mistaken.

The main thing communists don't understand is that they need nationalism (volk).

>i'm not like the other girls
literal same people, with irrelevant details switched. anyone basing their political opinions on a need to define their own identity inevitably comes to the wrong conclusion, and their input makes society shittier

At what point do people realize that there is no way in hell these shit shacks are worth even 10% of this?

Who in their right mind would want to live in San Francisco anyway, even if it was dirt cheap to do so? They are swimming in used needles, hobo shit, and hordes of junkies and homeless.

Seriously, just move a state or two over and pay a fraction of the cost of living and have a better quality of life altogether.

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A lot of the west coast real estate prices are Chinese people offshoring their money to keep it away from China's government. For their sake I want it to crash. It's a real scummy thing to avoid paying taxes in the country that made you wealthy. It's double scummy to ruin another country's housing market.

Completely besides the point, SOMEBODY is living in these shit shacks, even these ones owned by rich foreigners, and their rent cost reflects these ludicrous housing prices.

What I said goes for both the owners and the tenants.

No, even better, instead of dabbing do the Fortnite dance. You'll be able to hear his aorta snapping from your home the moment he sees it.

>in the sense that have more paper credentials but the overall quality of instruction has gone down substantially
Yep. Happened here in Australia when our Communist Party (ironically spelt the American way) open the flood gates to everyone.
This meant the value of the degree went down, plus universities saw $$$ to be made.
Then our Conservatives got in, and instead of fixing it they shat the bed and CUT funding to universities to give to business.
So uni's doubled down on taking everyone in, especially Internationals students because they pay up front.

And here we are. If you study at university in Australia you are a cuck and deserve to be unemployed.

>t's a real scummy thing to avoid paying taxes in the country that made you wealthy. It's double scummy to ruin another country's housing market.
lol Capitalism my friend, it's just business why so mad? Literally nothing, NOTHING, stopping you from being rich.

That tiny piece of shit house for 2 million? Yeah, we are at the top.

Can we start ostracizing anyone on Jow Forums who calls the Chinese "chinks". We do not have to resort to calling these people racist names. It's something that has been bothering me to no end.

I agree, I suggest you make a Racism free thread and then you should only post inside there.

Okay sure thing Chang Gook Nippy Slant Eyed Rice Nigger :)

fuckin chink detected.

Boomers
Universal Basic Income is now a must for the future. If it is not implemented the job loss and poverty will destroy the world.
92% of jobs created now are temp jobs with no benefits.
Let that sink in for the future. Jobs with no benefits, no way to save for retirement or housing, no social security since boomers took it all.
Let it sink the fuck in to never ever vote for another boomer, not hillary, not trump, not biden.

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any anons have advice on things to look out for when buying a house?

400k is alot of fuckin money for that. you can get decent appartments in berlin for 250k. the house looks more loke 80k to me. 4 million is BC that great of a place ?

Universal Basic Income will just increase the value of the homes that already exist.
Boomers still come out ahead.
Stop believing everything you read on twitter and reddit.

UBI will help with nothing. You need a purge, eugenics program and social reset.
But instead you are getting serfdom and insect paste for food.

Do you like smug s0iiipeople? If yes, then it's awesome.

Why bother buying now
>pension funds are gone
>boomers are going to be forced out of their homes because of their crippling debt
>cheap houses everywhere

It's better to live in squalor for a little while longer while accumulating assets that appreciate during a market crash. Instead of buying 1 home, I intend to buy several.

QE4 is coming, soon.

Fucking keked so hard I almost shit myself

>assets that appreciate during a market crash
what like?

Cash. Inverse ETFs. Probably gold, maybe crypto.

Right now, silver. Fuck ETFs, stocks and other paper assets.

Crypto is likely going to be big too, but it's a more nuanced problem:
>the interfaces are still hard to use for common people
>it's not widely accepted as valuable and a valid payment method
>it's new and unknown with unknown risks
>but people still want electronic payments even if the banks collapse, so there's a strong use-case

The problem with crypto is that it's unfamiliar as a store of value to most people, but it also has the best use-case and utility. So while I believe crypto will appreciate over time, will it really do so during a crash at this point in time? People looking for safety during this crash are more likely to get into metals first, primarily silver as it's the most undervalued metal right now.

So in short:
>metals, especially silver, will drastically appreciate during the crash
>certain crypto currencies, such as BTC/LTC, will very likely appreciate during a crash if the appropriate infrastructure has been set up at that time, which currently isn't the case yet

Silver is your safest bet right now. It's literally valued so low that the mines are closing down left and right, which means the supply will dwindle and prices go up naturally. There's also a lot of silver on the market that only exists on paper. If that collapses you're looking at a huge spike in value, like 300x easily, but that requires the collapse of the financial system.

>obvious concern trolling followed by the inevitable "dat's not wewwy wut commewnists beweave!" post

The only good thing about communism is that it's guaranteed to absolutely economically destroy whatever country it touches turning it into an economic toxic waste dump no one would want to immigrate to to begin with.

Imagine unironically clamoring to have the same people that run the Department of Motor Vehicles micromanage your entire economy because you as an individual were retarded enough to spend six figures on an impractical worthless degree, and instead of blaming the organization tithing you $500+ a month for the rest of your life or yourself for being a retard as is appropriate you blame the faceless "system" and you personally lead the charge in handing even more power over to the very same people whose ignorant short-sighted policies and anti-competetive regulations jacked the prices of education, healthcare, rent and real estate sky high to begin with.

YIKES

>92% of jobs created now are temp jobs with no benefits.
Works for Boomers.
>Let that sink in for the future. Jobs with no benefits, no way to save for retirement or housing, no social security since boomers took it all.
So what? Work harder.

>live in eastern euro
>no student debts or debts of any kind, prefer to save and live frugally, live with parents half the time
>tfw impractical degree which will give me average wage at best in my poor country
Wish I could get US wages.

I for one can't wait to tell the boomers when they find out their pensions are gone
>pick yourself up by the bootstraps and get a job, you lazy cunts!
>what do you mean, you're 70 and you don't want to work?
>you "earned" your rest? Well, where are your savings? Didn't you say you worked your whole life?
>what's that? Your children won't let you move in after you treated them like shit for years? Imagine my shock.

Boomer taunting will the funniest meme for the 3 months in which most boomers will die off due to not being able to afford cat food and not knowing how to scavenge food.

Problem is boomers voting power level is much higher than zoomers. They will vote themselves more money until they croak.

Based.
Boomercide when?

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>millenials who witnessed the subprime mortgage crisis of 2008 have been saving cash to buy a house during the next dip
>so many boomers with the "my house is my retirement mindset" are going to wake up one day with their net worth 50% of what it once was at the peak
>boomers will no longer be able to afford their houses, Will sell for pennies on the dollar to millenialls and zoomers
>in just a couple of years millenialls and boomers will basically switch places
>boomers will finally get a taste of what they put their kids through and complain loudly how life is too difficult nowadays

I can't wait

My only concern is that the housing marker explodes upwards at the vedy first sogn of a dip for the first reason you mentioned

Supply vs demand. Boomers still outnumber millenials. When every boomer wants to sell their house, there won't be enough millenials with that much cash to soak up all that selling pressure. The smart boomers will get out on top, the ones who wait too long will realize that the buying pressure has dried up before they (and many many others) have sold and then they will panic sell at any price just to get something.

complete and uttler LARP

Show me the millenials who save cash to buy a house? I don't see any in my social circle.

There is no logic whatsoever to your argument. How is a house a retirement plan? A house that you live in doesn't produce any cashflow. So its value ultimately doesn't matter. It's dead weight anyway, whether it's worth 10 million or 50k, whether it accounts for 70% or 10% of one's net worth. Unrealized gains and losses don't have an impact.
Boomers are in a demographic that doesn't really depend on the job market anymore (over half of them are already retired, even more when the next crisis hits). How would an economic crisis even impact their ability to afford a house? The whole point in complaining about boomers is that they already have their houses paid off and living in your own home is still cheaper than renting, so why would they sell and switch? Given their average age, exit from the job market and the recency of the 2008 crash/clean-up I doubt there's many boomers left sitting on giant mortgages.

But keep dreaming, kiddo.

Because nobody wants to pay 10 years salary for something that somebody got for 2 years salary and used for 40 years.

>somebody is living in these shit shacks
Wrong boys. Chinks buy properties and keep them unoccupied because they want to keep them “new”

Aren't houses really cheap in Maine, 0.5h of drive away from Boston? I know they're probably rural shitholes, but still, how is it hard for you people to buy a house in USA? Sometimes living beyond a big city is better even when it comes to commute, as bypasses allow you to not to deal with the city's internal traffic.

Go home chink

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>bro just don't live anywhere lmaaaaaaooooo

they control the market, they set the prices

No jobs = cheap land
Jobs = expensive land
Unless you are a tradesman that can find your own work or you are already wealthy, its not easy to get settled in the wilderness

Because Boomers and Reddit spread the idea that if you don't have 20% saved up for the down payment you ABSOLUTELY CANNOT afford a house. J-Just think about the PMI!! You could be paying close to the same cost of rent for a few years in your own house with equity, BUT BUT MUH PMI LE BAD MAN.

Boomers and Financial "Experts" are scaring kids into hoarding their money during their prime instead of investing or setting themselves up for the future. Even if millenials hoarded it, most of them still couldn't afford to put down a $40,000 down payment to eliminate the PMI.

Everyone just propping up that rental markets with lies and bullshit. Selling kids FHA loans too...it's bad.

>20%

If you can’t afford 100% you can’t afford a house

>Nervously says the zoomers to himself every morning and every night.

We are not even close to the 2008 housing prices. There is a long way to Go since the wages have drastically risen in the last few years.
But hey. Zoomers are blind as their boomerparents.

Look man, I don't hate people of other races, but I do think everyone is racist. If we spent more time understanding that it is part of the human condition, and less time trying to catch each other's racism in effort to virtue signal, the world would be a much better place. That being said, I love that this is the one place on the internet where people can really say whatever they want. Every race, nationality and religion is targeted here. Obviously not in equal measure, but everyone gets shit and everyone gets to give it. If you want to chat in some kind of hugbox, reddit is that way.

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Yes you cannot avoid the fight between good and evil. To avoid it is to lose.

We have to hear the stupid arguments and realize why they are dumb. We are all in this together frens.

In terms of searching for a property:

- School Ratings. Doesn't matter if you plan to have kids or not, but a location that's roped into better schools has a better chance at re-sell (note, sometimes schools can be re-districted).
- Check the location a couple times: night, day, do the neighbors look like trash, do they look at you funny?
- Go to open houses. Not a bad idea to look at houses above and below your price range to get an idea of what your real "musts" are.
- Hone it down to neighborhoods you like, and keep it tracked on Redfin.
- More people buy/sell in the summer, as it's the only time families can move the kids without taking them from school, and they can be settled by the time school starts again. This creates a hot market for sellers, and tougher for buyers in certain areas. If you can wait until Fall/Winter, you can haggle.

Most people start the homebuying search and jump the gun hard because they get anxious and just find one/buy it. Don't let "wanting to be done" get the better of your judgement. We looked at 15 houses, put in 2 offers that were rejected, and the house we ended up buying was clearly the best. We should've never risked putting an offer on those other houses (fucking parents jumping down my throat to hurry up and buy already!!!!)

Payment-Wise:
- If you have good credit you should not be ever talked into an FHA loan. Ever. Always go for a conventional. Push for it if they don't want to give it to you.
- When you shop for lenders, get a pre-qualification letter. This says, that based on estimates, you can afford "this much" house. Makes putting in an offer much easier.
- Employment history is the biggest factor for lenders. No one wants to lend to someone who switched jobs or fields ever year. If you do 1099 work, it's going to be difficult.
- Avoid Condos unless that's how your major metro area roles (like Seattle).

>paying rent to the jews for nothing
>paying mortgage to the jews for something

Kekked

You're looking for reddit

That's the land for most of the price, not the actual house.

>prime instead of investing or setting themselves up for the future
Sure, but why would I invest in housing when it's going to crash soon.

All politics are identity politics. Read some history kid.

Trump was elected by white identity politics.

Go service some BBC ya fuck. Asain men bred for black men

>jews flood the nation with tens of millions of shitskins
>tens of millions of shitskins now compete for housing
>pay mortgages to jewbanks or pay the jew rent
>whites begin paying top dollar for the privilege of moving into white neighborhoods that haven't been destroyed by spics and niggers

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Ni hao wealthy Chinese businessmen

Fucking brutal, man...

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>millennials aren't buying anymore

They never even started. Priced out due to boomers wanting max gains for their bags.

>i was born after the me generation, into a paradigm of late stage capitalism, and am consumed by egoism and narcissism
we only think everything's about identity because the TV has been selling us products that create an identity around our demography.

>Blaming immigration in general for housing prices going up
This will never not be pathetic. In a competent housing market housing availability would increase alongside populations. In fact that's exactly what has happened. The problem is that central banks have pumped housing vags for various reasons so the prices are still super high.

Bye!

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mid-2017 to mid-2018 was definitely a ridiculous frantic market for seattle and things have cooled off a bit in the last six months or so, but i wouldn't expect a major pull back in prices from where they are now. there is a lot of new office construction still happening in seattle and its suburbs and the buildings are getting leased up immediately by amazon, google, facebook, etc. a lot more six-figure jobs are coming to the region over the next several years and these people are going to want to buy houses.

Oh and just in case you kiddos don't understand what's happening to the market, in America, there are two housing markets.

One is luxury housing in hot spots like San Francisco, Seattle, and Austin. These were being bought by the neavou riche and money launderers. The bubble on this is currently popping and most of these have come down 10% on their YOY.

The other is "workforce housing" or the type of housing that is considered "starter homes." These are not dipping in price because REIT are buying them up and providing a firm floor that is still out of reach for the average salary in a given area.

The boomers may die, but you've got to wonder which category their houses are going to fall into.
Most of these REITs know they can buy up a house and then make back their principal in 10 years.

theatlantic.com/technology/archive/2019/02/single-family-landlords-wall-street/582394/
businessinsider.com/a-massive-buy-to-rent-scheme-is-hitting-the-housing-market-2018-8?IR=T
wolfstreet.com/2019/01/31/new-home-prices-drop-12-as-supply-surges/

read em and weep faggots

and if you think you can some how save enough and then afford them in the next downturn, you clearly weren't old enough to tie your shoes during the last downturn. Even if prices tank 50% (they won't), banks won't give you a loan unless you've got 50% cash up front.

>Even if prices tank 50% (they won't)
Prices tanked 200-400% pretty consistently in the last crash, and the one before it. They'll tank that low again.

I was just in Austin. I haven't seen any sign of a bubble popping. There is so much fucking construction and most of it isn't even in the city center.

Doubting that. My credit is great.

why aren't millennials buying houses anymore?

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How does a price tank 200%? You are aware that 100% drop is zero, right?

Stop trying to use common core to explain things to actual human beings with real education. It is on you to recognize that you were failed by the system and learn actual maths and use proper terminology.

please tell me how a price tanks more than 100%

let me know how that goes for you.
I'll be here in a couple years and I will like to hear what happened

>thinks construction is a sign of a steady economy
Las Vegas would like to have a word with you

And anecdotal evidence, but before every significant downturn in modern times, new records for building heights were achieved. The Empire State Building (finished in '31) was only 25% rented out in it's first year and was known as the Empty State Building. We've got the Salesforce tower and One Wilshire on the west coast. We've got the new "super skinny" skyscrapers on the east. 5 of the 10 tallest structures are in China and were all finished in the last 3 years.

Downturns are a consequence of man's hubris and construction projects are man's hubris at it's best.

why aren't millennials buying houses anymore?

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These buildings are being built for tech workers. In a downturn it's possible tech companies may drop workers, but it's also possible they will keep them because the tech companies have sustainable profits and lots of cash.

I would love to buy cheap property because my goal in life isn't to profit off property. I just want a fucking place to live. If I want to make money I'll put it in BRK.B or something.

boomers selling extremely overpriced properties while shorting bitcoin at the same time this reality is my ultimate nightmare

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A white guy living there would get shot in 2 weeks. That is a ruff neighborhood.

AHAHAHAHAHAHAHA
HAAHAHAHAHAHAHA
GET A LOAD OF THIS FAGGOT

>Prices tanked 200-400% pretty consistently in the last crash, and the one before it. They'll tank that low again.
>>Prices tanked 200-400%

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And here I though crypto was the only place where you can lose 101% of your money.

You're rich by local standards. You move to MO.

You buy that house in cash. You invite some local girl over and the night ends with you porking her fat ass. You tell her you love her and send her on her way.

You got the snip long ago but tell all these small town local girls, "if it happens, it happens." They know you make a lot of money working from home on your computer for one of those "internet app companies." They say, "He's super smart."

All these girls are mid twenties. That's the age where the extra weight they are carrying actually doesn't look too bad because their skin hasn't aged yet and sag bags haven't dropped. Big ol' DD's and fat asses. This is how you spend your 30's.