Buying a family-sized home with three or more bedrooms used to be manageable for young people with children. But with home prices climbing faster than wages, mortgage rates still close to 23-year highs and a shortage of homes nationwide, many Millennials with kids can’t afford it. And Gen Z adults with kids? Even harder.
Meanwhile, Baby Boomers are staying in their larger homes for longer, preferring to age in place and stay active in a neighborhood that’s familiar to them. And even if they sold, where would they go? There is a shortage of smaller homes in those neighborhoods.
As a result, empty-nest Baby Boomers own 28% of large homes — and Milliennials with kids own just 14%, according to a Redfin analysis released Tuesday. Gen Z families own just 0.3% of homes with three bedrooms or more.
Do you know how to hunt, fish, farm, and prepare all of your own food and shelter? If not, you’d better hope to stay in modern times.
Seriously, people literally do not realize how good life is because all they know is complaining about what’s not perfect.
Having electricity, running water, toilets, access to just about any information in the world with the Internet… all that you take for granted. They did not have most of our modern amenities for the vast majority of human history before our modern times. Life was a fucking brutal struggle for survival for much more of humanity then than it is now.
Yea, and I’m making the case that we’re heading back there or worse, given the macroeconomic outlook and the overall failing of the regulatory bodies responsible for the banking industries globally.
I have a freezer full of Hot Pockets so I’d say I’m as ready as anyone.