This is a really, really stupid question.
this post was submitted on 13 Jul 2025
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I love it when a headline makes me audibly laugh, thought this was the onion for a second
I hear many millennials prefer to live in their cars. 🤡
The longer you live in a car, the more coffee and avocado toast you can have.
Two posts down my feed is this:
Investors bought 27% of US homes in Q1, as traditional buyers struggle to afford
Being muscled out by cash paying conglomerates, investment funds and venture capital is always fun.
because the previous generation were all robber barons that drained the world for their personal gain at the expense of the children they insisted on having.
I watched my own father illicitly borrow millions of dollars by bullshitting other rich boomers, acquire vast acres of property across the country, promise the family he would pass it all down to us and our futures were set, then have everything taken away by courts as he and and the rest of my family drank themselves to death after snorting away every family assets on cocaine and other drugs.
I lost everything I owned after investing my time and energy into being there for my family and they just crashed out without any accountability to their next generation. Starting over in the middle of my life from nothing. I may never own property of any kind. I probably will never retire.
I feel like it was all just a microcosm view of what's happening broadly. The legacy of the boomer generation is going to be crushing us for a century to come or maybe forever.
"Holding off"? No, I can't afford it. I'd love to own a home but my wage doesn't keep up with inflation.
At today’s prices, a family would need to earn $126,700 a year to afford monthly payments on an average home purchased in 2024, up from $79,300 annually in 2021, according to a report from the Harvard Joint Center for Housing Studies.
We are so screwed.
And they think someone can save for a down payment how? If you need 6 figures to afford the payments who can do that and have a down payment?
Jesus fuckin christ are these people seriously asking that question??
House expensive and job no pay enough.
Been unable to afford a house since I first tried avocado toast circa 2008
It’s because all the realtors are woke!
Maybe it has something to with home prices rising an average of about 7.5 % per year over the last 10 years which means more than doubling.
Bought my house 2 years ago and it had doubled in price since 2013.
Meanwhile, wages have not kept up, largely to support/advantage/non-impact for those who bought in earlier. Boomers take advantage of low taxes, low-cost services, etc. driven by low wages.
Even with low interest rates, the size of the necessary downpayment is prohibitive and exposure to interest rate related shocks are much greater.
And everything else is much more expensive for an expensive house, including insurance, which is also getting harder to get and more expensive due to climate change.
Tl;DR: Younger generations are not getting housing because of older generations. We all know the answer to this question...
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People aren't paid enough. The rich have too large a portion of the resources.
Eat the rich. Bury their collaborators.
The worst part is that I am getting paid a salary I could have only dreamed about years ago, and yet I still can't afford anything with how drastically everything went up in price.
Wages in general have gone up a little bit, but it's crazy to me that I'm earning more than 5x as much as I used to 15 years ago and feel like my buying power has not noticeably improved at all. I'm still stuck living in crappy apartments because that is all I can afford.
Exactly! My partner and I together make over $100,000 a year and finally we are just barely comfortable. All of our bills get paid and even though the budget is tight, we still have a little money and decent credit. I could put a $1,000 guitar on credit and pay that off no problem, but there's no way we could get a house.
Maybe if our wages doubled then we could find something further out in the sticks. Hopefully by that time more companies allow full remote work because I already lose an hour or more a day traveling.
Companies demanding return to office is such a twist of the knife. It's a pay cut, making someone spend an hour or two commuting without paying them for it. But the boss doesn't care
Maintenance, gas, car insurance, more expensive food, tolls, parking, and time. It's a massive paycut for many people when you really think about it.
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Article title writer pictured here
I know no one really asked this question.
- Average house price in Q1 2025 was $500,000.
- $100k down at 6.5% with great credit and monthly payments of $3180 for 30yrs.
How many people can say they will have a job that pays that well for 30 yrs?
$100k down
Fucking LMAO
"Yeah, before you buy, we want an amount of money you will never have at any one point in your entire life before we consider thinking about suggesting a mortgage to you"
Oh....you poor bastard. Now you can pay the PMI and your morrgage will be around $4400 a month. You can save up $15-20k and refi when rates go down.
Welcome to renting for ever.
when rates go down
My sweet summer child, how dense and naive you are.
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Wages didn't increase at the rate of inflation for like 80 years. The USA is now a shithole country in general and emigration out has reached all time highs, kids don't want to buy homes here. All of the overseas investors looking to purchase US properties no longer trust in the USA due to volatility due to an actual dictatorship forming and heavy fines and tariffs being put in place by countries on either side of the issue.
I could go on.
Probably the same reason megacorporatins are turning in record profit, year over year, and a very few people have increased their income by several billions of dollars, but that's just a guess. 💁
Don't forget about the corporations that are buying as many houses a quick as possible (faster than a person who will have a mortgage can) and at a higher price than what a person can/will pay becaue they are using them as investments.
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My household income is well above the median in my area. Besides a bit of student loans, I have no other debt. I'm doing pretty well compared to most people my age, financially.
I still needed an FHA and down payment assistance to squeak into the cheapest house on the market that wasn't a trailer
I know a few millennial homeowners, and almost every one falls into one of two categories: they were gifted the home (or down payment) from a family member; or they married a Gen-X doctor in 2007 and bought right after the market crashed in 2008 and they've watched their home value quadruple since then.
That's it. Have family that's well-off enough, or marry someone that had money at the right time to exploit a financial disaster.
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Everyone I know around my age that have purchased either bought before 2019 in the smaller cities of Texas where it was a house or it was sometime 2020-2022 when rates were sub 4% and home prices didn't explode yet and those were condos. Also everyone was dual income or it was to co-own a house. I know one person that purchased by themselves but they sleep in the smallest room and rent out every other room to siblings and friends
Since some point in 2022, the only people I know that bought a home were a married late 30s couple that were high income and the home was like 70+ years old and a pipe burst and there turned out to be a lot of mold that made it unlivable for a period of time
...could it be because they're only affordable to first-time US homebuyers with generational wealth?..
Cost.
oh we know why, it’s not a mystery to anyone who talks to the average american worker. we are criminally underpaid for our labor and it gets worse the younger the generation is. millennials are more poor than their parents’ generation, and gen z will likely end up poorer than millennials.
hcol, cant afford, and piss poor job prospects which seems to be intentional those entering entry level right outside of many majors/fields. the only lucky ones last decade was mostly tech.
Homes are fucking expensive. I couldn't afford to buy a house in most markets at current prices. I have no idea how people are able to buy homes today.
Even my neighbor down the street...1st home for him, wife, and 2 year old kid. He tried to sell because he didn't understand how property taxes worked. The previous owner of 30 years payed 1.5K a year. He bought the home and was hit with a 15K tax bill. He couldn't afford it and thought his bill would also be 1.5K. The closing agent and real estate agent didn't explain anything to him. They were just happy to collect commission and fees on a very expensive house.
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A house is a huge liability. If i lose my job, what do i do about the debt? It's the job market uncertainty that i fear more than the current pay levels, tbh.
House is an asset. Mortgage is a liability. Having one without the other is now a dream.
Because those who make the rules don't want you to own shit.
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