Why are millenials not buying boomer McMansions?

Why are millenials not buying boomer McMansions?

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Not sure where you are, but around here, even the big houses sell, and for more than they did even just a few years ago.

Not sure if it's millenials buying or what, but they definitely ARE selling.

the builders know how much of a fuck job these houses are and been getting sued out the ass for warranty claims. In response to this they now try to hook up homeowners that haven't yet sued with an attorney that will either 1) delay the homeowners claim until past expiration, or 2) make the homeowner settle for way less than they should get.

you are better off buying land and building your own sensibly sized home.

t. someone married to an attorney

This bot thread is funnier on Jow Forums desu.

Can you describe what it’s like to bend your own attorney waifu in her pencil skirt over some furniture before railing deep, deep into her?

Unless your partner’s male in which case I don’t want to know

lads

whens a good time to buy a house?
wait a few years for a crash?

> No GF
> No kids
> No car
> All friends are online

My god, have we not learned anything? We need to know where you are (at least the country) to give you an answer to that one.

well, im near NY.
but I figured there would be some macro trends, since everyone in the country is poor now

Demand is there. Banks are scaring people into buying homes to lock in historically low interest rates.

Also a matter of supply. Extremely strict building codes. For example, you need 7+ years of experience on construction sites in the past 10 years and some of that has to be supervisory to apply for a general contractors license. Even then, theres a boatload of paperwork, inspections, insurance required to build anything. You can learn how to frame a house in an hour on Youtube, but the process to lead a project yourself requires 5-10 years experience kek.

I tried starting a construction business when my liquid net worth was ~1.5M but getting a licensed contractor & architect worth their shit onboard is almost impossible. You have to pay them the equivalent of $120/hr each just to stand there and do nothing, otherwise the city won't let you build. By the way, I have 25+ years experience in framing (put up about 30 3000-10000+ sqft houses in 3 man team before the bubble burst), roofing, and custom cabinets manufacturing, etc.. but I can't become a licensed contractor myself because I haven't been on a construction site full-time in the past 10 years.

That sucks man.

Concrete pump truck operator here I'm essentially the baddest mother fucker on any job site

In most cases, you'll have to compare the amount of your monthly mortgage (including taxes and insurance) to the amount of rent you'd pay for an equivalent home. Only buy if you see a difference in your monthlies AND you think you'll be staying in the place for many years.

Alternatively, buy with the intention of renting it out later. In this case, don't pay any more than about 100x the value of the monthly rent. This may be tough to find, but if you do find it, jump on it.

2nd alternative is to buy a 2,3,or 4plex and try to eliminate your housing costs as much as possible by renting out your other units.

>don't pay any more than about 100x
Haha, where the fuck are you living?

>this home exists
>someone thought it was a good idea to build it
>someone lived there
>someone probably had family over and "showed off" this monstrosity

lmfao

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This is a very standard rule of real estate investing called "The 1% rule". Essentially, it's a quick heuristic to weed out bad deals quickly.

Many properties don't fit it and it gets harder to find places like this the higher up in price you go since rents don't scale with price.

Jealous you can't afford one?

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whata re interest rates looking like now in comparison to years past?

are there good "first time home buyer" rates?

I DECREE THAT NO WALL SHALL HAVE THE SAME SET OF WINDOWS AS ANOTHER WALL
BY THIS CODE I LIVE

Kek. That house is awful. Hope it's not yours.

because I don’t want to pay $1000/mo in heating bills

LEL first time I’ve noticed that!

Also that house looks like what would happen if a normal house had multiple fast-growing tumors

good luck on becoming a developer, the only designation it seems where you are allowed to buy land and put a house on it.

millenials dont like commiment, yet desire a sure thing.
why you think they are mostly atheist, and increasingly polyamourous?

ur an idiot

Millenials want to live in interesting cities, not boomerboxes in some exurb

*Millennials

Can confirm, been banging this dudes wife.