Is there an obvious answer to her question? Why did they think they/we aren't doing it?
this post was submitted on 03 Dec 2023
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too much phone, not enough struggling with PDF
Some think "younger people" shun the responsibility property brings with it. And obviously that we spend our money on traveling, Netflix and expensive gadgets instead.
Don't you know, if you cancel Netflix you can afford to buy a new house or car!
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As a GenX this narrative that Millenialls aren't buying homes is weird.
Of the people born in 1970 about 41% of them owned a home by the time they were 30. Of the people born in 1990 some 43% of them owned a home by the time they were 30. Millenialls are actually slightly ahead of where GenX was at the same age!
GenZ shouldn't really be a discussion as most of them simply haven't reached "home buying" age yet.
https://www.apartmentlist.com/research/homeownership-by-generation
It's a distribution thing. In rural and lower populated areas, hone ownership by younger persons is probably higher than 1989 (i remember when, in my home area, a house could be had for ten grand but that was a unimaginable amount of money then and there, more there being the issue than then I guess), but also that large groups of young people concentrated in cities can't afford anything.
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What I really don't understand is all the people who in the next post tomorrow will mock China's oversupply of homes. "Haha, stupid dictators who oversupplied the market. Their investors are all screwed because the homes didn't go up in value."
What over supply? You mean all the unfinished Ponzi homes?
The Chinese government overbuilt housing. Housing investors didn't realize gains because there were more homes than people looking for homes.
https://en.m.wikipedia.org/wiki/Under-occupied_developments_in_China
A ponzi scheme is where you collect investments and pay out the first investors high interest with the early money collected to make it appear you are legitimate and thereby trick more into giving you money.
Buying real estate which goes down in value because the government makes more homes isn't a ponzi scheme. It's no different than losing money investing in wheat futures by betting against the US subsidizing farmers. (which creates a surplus.)
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Because then they can't tip their landlords, of course! /s