Millennials that bought in their 20s or early 30s are doing fine, gen Z in the other hand…
Lol, with what money do you think the millennials are doing this?
https://www.cbsnews.com/amp/news/buying-a-house-first-time-homebuyer/
i am a millennial that bought a house with a restaurant job back in 2012, because they were cheap snd interestes was low, if i had waited i would be screwed, i don’t think i could afford a house now
I’m a millennial who bought a house a year ago because I got lucky with a temporary job that paid well above market rate, enabling me to raise the capital to put down a deposit.
The other millennia I know also bought their houses with inheritance, windfalls or family money.
Wallstreet will never let another collapse happen. They have too much money tied up in SFR and will use any correction as a firesale to quickly scoop up as much real estate as they can, further limiting supply and stabilizing prices
As long as artificial demand is being driven by speculators, housing will never get cheaper. Even assuming there is enough supply, which is also unlikely.
Housing market collapses don’t happen in low confidence events. They happen due to overconfidence leading to excessive lending at high rates and then a sudden sharp decrease in capital availability with which to repay those loans.
At any given time you might have high rates and decrease in capital, or you might have excessive lending, but it’s difficult to get all of those factors at once. Especially given how sensitive investors are to such a collapse, as some of them would withdraw investments far ahead of any large events, which would lead to stability in the market as the eventual crash ends up being far less steep.
C’mon… give me my unicorn… I’ve selflessly granted the right-wing consent to make those more vulnerable than me suffer, by heroically sitting on my heroic ass on many election days, I am a pure and very special, delicate flower, I know what’s what and how’s how better than anyone before or after me! i’M sO sPeCiaL, gOdDaMniT, giVE mE wHaT i WaaaaNt!!!
