https://fortune.com/2022/05/28/recession-predictions-not-great-financial-crisis-experts-say/

WSS

Not sure how the reporting or the conclusions that could be drawn from it is what I've been saying all along but somebody is going to get left holding the bag.

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Again  Elon Musk.

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@diehardbrownsfan1 said:

I watched a youtube yesterday of some lady in Austin Tx who's lease renewal came up.  They raised her rent from 900 per month to 1400 per month.  That shows the fuking greed of people.

I'd like to know when the last time her rent was increased as well as a zillow listing of the property. they are generally pretty accurate on rent values.

Also, did she thank Bidinflatio, eerrr, Putin's inflatio,,, wait!!!  Putin is a direct result of Biden so,,,, ?

@mld-woody said:

No bro, free market

Dude you guys hate the free market.

WSS

@diehardbrownsfan1 said:

I watched a youtube yesterday of some lady in Austin Tx who's lease renewal came up.  They raised her rent from 900 per month to 1400 per month.  That shows the fuking greed of people.

No bro, free market

@westside-steve said:

Surprisingly gen Z is more prone to purchase. Millennials are more prone to rent. I wouldn't have guessed that but it makes sense. I have rental properties and I get offers for them every week. It's either individual investors or individual investors in a conglomerate buying up everything they can putting a few bucks into them and renting them at high prices. 

I really get tired of screwing around as a landlord especially because I don't charge hardly anything. If I were smarter I'd have handyman fix them up and be ruthless about it. I'm guessing that's what the conglomerates do since they're buying dozens if not more properties. A couple of them that I've spoken with one was from Los Angeles one was from Atlanta so... the one from Los Angeles had an agreement with a handyman that's actually done a lot of work for me.

Hard to keep up with all the stories and predictions sometimes saying that the prices will continue to Skyrocket some say the bubble is about to burst.

"Why Millennials are Renting More — And Why It Works for Them | MYMOVE" https://www.mymove.com/buying-selling/guides/millennials-renting-works/

WSS

I turn 36 this year. I've never owned a house, and I figure if I can't get one by the time I'm 40, it's just not going to happen.

Housing prices are fucked. I'm seeing rundown hunks of shit in the heroin neighborhoods of cities in my area going for as high as $100k; houses barely above the threshold of being condemned. Everyone I know that's currently looking for a house keeps saying the same thing: they put a bid in on house after house, only to see corporate investment firms like Black rock swoop in and buy for like 20-30% over value. Middle class Americans can't compete with that.

@mld-woody said:

You really would invest that much in crypto tho? Seems risky 

Huge risk, and I'm not quite ready to jump into the deep end. I'm still bullish on crypto though. Would hope that diversifying with real estate, precious metals, and commodities would be enough diversification to feel better about it. I know I'll likely be missing out on gains that would be had in the stock market, but my goal is only to live modestly in retirement. 

As for my own properties I just wish the tenants would go for a drive and leave cigarettes burning in the bed.

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@mld-woody said:

I'm saying that conclusion isn't really based on anything. These pieces have compared what millennials are doing and what Zoomers would like to do. Again, the oldest are about 25, the majority aren't buying anything yet. 

Comparing millennials not buying himes because of their economic situation with Zoomers saying they'd like to own homes is an apples and oranges comparison. One is reality and one is a want. 

Your initial post in this back and forth said gen z is more prone to purchase but I haven't seen anything really backing that up yet. Maybe in 5-10 years we'll know more, but then everything would need normalized for economic situation.

@westside-steve said:

Actually Woodrow I just looked up some articles out of curiosity about the housing and Rental situation I was surprised that Zoomers lean more towards homeownership than Millennials as it says in the conclusion of the q i r  u s piece. Not to Fan any flames of Millennials vs Zoomers vs. Boomers versus anybody. Being the youngest the ridiculously high rental or purchase prices wouldn't seem so much of a shock to them not having grown up with something other.

WSS

I'm saying that conclusion isn't really based on anything. These pieces have compared what millennials are doing and what Zoomers would like to do. Again, the oldest are about 25, the majority aren't buying anything yet. 

Comparing millennials not buying himes because of their economic situation with Zoomers saying they'd like to own homes is an apples and oranges comparison. One is reality and one is a want. 

Your initial post in this back and forth said gen z is more prone to purchase but I haven't seen anything really backing that up yet. Maybe in 5-10 years we'll know more, but then everything would need normalized for economic situation.

@mld-woody said:

Depends on who you ask, as generations generally don't have firm beginning and end points. Quickly search shows oldest as 25, another 24, one 26, etc. Hence 'like" or "about"

Like okay.

WSS

@diehardbrownsfan1 said:

Are they 'like' 25, or actually 25?

Depends on who you ask, as generations generally don't have firm beginning and end points. Quickly search shows oldest as 25, another 24, one 26, etc. Hence 'like" or "about"

@mld-woody said:

Are you sure you're accurately referring to Gen Z here? Because the oldest members of Gen Z are like 25.... I don't think a ton of Gen Z are buying houses yet.

And the question isn't whether millennials are renting more, it is why. Even in your article the first reason they listed was budget. Between growing up through multiple world changing / economic changing events, skyrocketing tuition costs, and an older generation staying in the workforce longer... the budget angle is probably the most damning. 

Are they 'like' 25, or actually 25?

@westside-steve said:

No the question or my comment didn't really have much to do with which generation is doing what. I just would have guessed that Generation Z would be most likely to rent making the rental market more attractive to investors.

"More Gen Zers Are Buying Homes Than Ever Before" https://www.roostify.com/resources/more-gen-zers-are-buying-homes-than-ever-before

Did you read the article and look at the data though? All that is saying is that they grew the most year over year... because of course they did. They have the most growth to gain as their generation gets older and older. I'd expect them to be the fastest growing generation for homeownership because the bulk of that generation is just now getting to the age where they would consider buying homes. The vast majority of Zoomers are still renting or living at home, because they're the youngest generation, so of course they are.

The high percentage of Zoomers that want to own a home at a young age compared to Millennials that actually have speaks more to 1) the financial situation of Millennials and 2) Zoomers not quite understanding yet how expensive a home is going to be than it does any major cultural difference between the two generations, IMO.

"How Generation Z Will Change the Housing Market (Forever) - Hommati" https://www.hommati.com/blog/how-generation-z-will-change-the-housing-market-forever