Yep. Like the small convenience stores that sell the plastic flower in glass pipe with Brillo type filter.
Last edited:
Nearly 25% of Gen Z House Hunters Willing to Sacrifice Safety to Afford a Home: Redfin Survey
- Thread starter Dave Hess
- Start date
- Status
Yep. Like the small convenience stores that sell the plastic flower in glass pipe with Brillo type filter.
Chicago is playing both sides. The gentrification of the West side of Chicago pushed some of the really bad neighborhoods into the suburbs and helped pay their rent/mortgage. I get to see this happen in real-time now when I take the train into the office. They're actively removing 'distressed' south-sixe neighborhoods around Bronzeville in Chicago for favor of condo/townhouse units that is worth 5x what the previous houses were.
On the flip side, the gentrified neighborhoods are very happy and are very centralized around college age to adults with no kids.
I don’t think Gen Z knows exactly what sacrifice means. I wish the survey went into more detail to understand what is in their head as far as sacrifice
They live such pampered lives that they wouldn’t understand moving into a house with only one bathroom, basic kitchen, 1200 ft.² NO Air conditioning things like that.
They also would not sacrifice their iPhone, deluxe cell plans, car payments, sports packages on television, music
subscription service, Jet ski or small boat, motorcycle
The boomers when they started out, had none of these these things And yet the younger generations are still buying homes at the same rate that the Boomers did who had none of the above luxuries.
So where is the crisis?
There is none, it’s mass media entertainment, disguised as news to create advertising revenue
They live such pampered lives that they wouldn’t understand moving into a house with only one bathroom, basic kitchen, 1200 ft.² NO Air conditioning things like that.
They also would not sacrifice their iPhone, deluxe cell plans, car payments, sports packages on television, music
subscription service, Jet ski or small boat, motorcycle
The boomers when they started out, had none of these these things And yet the younger generations are still buying homes at the same rate that the Boomers did who had none of the above luxuries.
So where is the crisis?
There is none, it’s mass media entertainment, disguised as news to create advertising revenue
Last edited:
So what you're saying is Gen X failed as parents.
Expecting Central AC in a modern home is pampered? What about electricity? Or how about indoor toilets? Should youngsters pull themselves up by their boot straps and
outside ?
BrendanC
$100 site donor 2024
the woman and I are trying to buy a house now. my parents bought in the neighborhood we are looking in, in 1997. the house they bought then was right at 100k. it now is appraised at $380k. we are both engineers and struggling to find a house in an area that isn’t known for drug/gang activity under 350k that isn’t a shoe box with a bad roof or cracked slab etc.Expecting Central AC in a modern home is pampered? What about electricity? Or how about indoor toilets? Should youngsters pull themselves up by their boot straps and
My house is worth almost 3x what we paid for it. We probably couldn’t afford it if we had to buy it today under the same circumstances. And we are in our early 40s. Rapidly increasing housing costs isn’t just a Gen Z problem.
Exactly. We hired a lot of fresh college grads and they've all been wonderful workers; eager to learn and start their careers without a chip on their shoulder.
However there's the flip side where we've all seen the bad seeds but I wonder just how many of them were taught and disciplined by their parents or ignored and left running around the restaurant.
Cell phone maybe. Whats a deluxe plan - most of them ask for the wifi password the instant they step into my house. They could care less about sports -the only one getting ESPN are the old folks thats why these sports league attendance are all down. Spotify is $17 per month for 6 people. Many share among themselves if Dad doesn't buy. I buy, I pay for our 4 and 2 other "friends". Jet ski or motorcycle - none I know, maybe its Dad's?
Your description doesn't match my observation at all. Maybe your thinking of millennials? I have no real insite into that generation - work with a few is all.
Now as for gentrification - good for them - I hope they do. I am actually thinking of moving into the city myself. I don't need to care about schools anymore.
Didn't read through all the comments yet, however I am on the cusp of Gen-Z I think, I was born in 94
We absolutely sacrificed security to buy a home. We purchased our home when I was 24 (And thank god we did, prices and interest has since skyrocketed!) and at the time, there was zero way we could afford a home close to our jobs that was in a nice area.
Security is not much of a concern for us. We park in the garage, which is also behind our driveway gate. We have instant alerts for anyone that steps foot on our property, and I keep 3 loaded mags of Hornady TAP T2 with my AR near my bed.
Noise is a concern however, and had I known how loud poor people are, we would not have purchased. Live and learn I guess!
We absolutely sacrificed security to buy a home. We purchased our home when I was 24 (And thank god we did, prices and interest has since skyrocketed!) and at the time, there was zero way we could afford a home close to our jobs that was in a nice area.
Security is not much of a concern for us. We park in the garage, which is also behind our driveway gate. We have instant alerts for anyone that steps foot on our property, and I keep 3 loaded mags of Hornady TAP T2 with my AR near my bed.
Noise is a concern however, and had I known how loud poor people are, we would not have purchased. Live and learn I guess!
Easy to criticize others.
Harder to walk in their shoes.
Younger people who simply can't afford a home in a well groomed area may find it necessary to look at areas and houses that are far from pristine.
This will lead to redevelopment as these buyers take over now distressed areas and upgrade their homes.
There are a lot of inner ring suburbs and outer city ring residential areas with gorgeous old homes just waiting for an owner with vision and a willingness to get their hands dirty to make them premium houses again.
In many cases, we're talking about well designed and built older masonry houses, not sixties crap-built tract homes.
Harder to walk in their shoes.
Younger people who simply can't afford a home in a well groomed area may find it necessary to look at areas and houses that are far from pristine.
This will lead to redevelopment as these buyers take over now distressed areas and upgrade their homes.
There are a lot of inner ring suburbs and outer city ring residential areas with gorgeous old homes just waiting for an owner with vision and a willingness to get their hands dirty to make them premium houses again.
In many cases, we're talking about well designed and built older masonry houses, not sixties crap-built tract homes.
* Thanks to the people before us making terrible decisions, its gets hotter and hotter every year. AC is required.
* There are almost no 1200sqft homes with one bathroom and basic kitchen. People my age looking for ANYTHING and still can't afford it.
* A smartphone is required to function in todays society with a job
* Car prices (as well as home prices) have inflated much faster than salary, how do you expect people to buy a car while not making enough money to even pay for the home to begin with?
The crisis is that most young people cannot afford a home or even pay to live
In 1984, the median home price was just 78,200 (226K in 2022) while the median household income was 22,420 (65,194 in 2022)
In 2022, the median home price was 433,100 while the median household income was 74,580
So the prices of houses has gone up 91% while income has gone up 13%
Not to mention the skyrocketing prices of healthcare, home insurance, cars, gas, groceries. Also, the home that young people can afford will not be close to their job like it would have been in 1984 with less population, so they have to travel further to get to their job, which you guessed it, costs money?
Use public transport? Sorry, the boomers gutted that to line the pockets of oil companies.
The generation before us pulled up the ladder.
Some, but your leaving out it’s not bad for gen x. So you can’t say it’s only because they’re spoiled.. It’s media created false news. The same amount and actually more gen x own homes then their counterparts did at that age.
Plus, the homes are much more luxurious.
The factual data still shows just as many people own homes as they always have.
Adding more to that to putting off marriage longer than any other time in modern times and having less children. Therefore, the drive and desire to have a home to raise a family has also been pushed back.
Life has never been more easy for mankind in the USA
Social media of the last decade allows the lazy and whining part of the population to have a greater voice on a much greater magnitude because of social media.
It’s those whiners who can’t control their immature spending habits
Can you share those stats?
Reality check, same amount of people are purchasing homes as they always have for those who can’t figure out what they are doing wrong. Do something different.
No sense replying to any thing else you wrote because it’s meaningless and you can check the home ownership historical averages yourself.
Here is a start, the same amount of people are buying homes today as they have done for 20 years starting in 1980.
https://ipropertymanagement.com/research/homeownership-rate-by-year
Oh, well okay then. Glad we can have such a good discussion
I just did but here they are again. Not only that but the stats are better than ever today, but I’ll let you look it up yourself because the marriage rate is much lower at a younger age which means people would be buying less homes at that younger age, but the facts that I posted and will post again still show home ownership rate is the same it has been minus mass media and social media whining
https://ipropertymanagement.com/research/homeownership-rate-by-year
Actually, if you look at the stats, you will see the homeownership rate the same for boomers in 1965 right through the years and up to the year 2000. That’s 3.5 decades of homeownership that is exactly the same as today.
I going to yell at some clouds now......The younger generation is screwed beyond measure...the only thing I take exception to is the 100% blame they put on the "Boomers".
No-you can't get a second job and afford a house-where anyone would want to live.
Yes-The average transaction price on a new vehicle is $48,000.00
Yes-Healthcare is outrageous.
Yes-there isn't employer/employee loyalty.
Pensions basically don't exist for 90% of those working.
Social Security will dramatically change in their lifetime-it has too.
I could go on.....
No-you can't get a second job and afford a house-where anyone would want to live.
Yes-The average transaction price on a new vehicle is $48,000.00
Yes-Healthcare is outrageous.
Yes-there isn't employer/employee loyalty.
Pensions basically don't exist for 90% of those working.
Social Security will dramatically change in their lifetime-it has too.
I could go on.....
- Status