Why aren’t millennials buying houses?

This is unlikely to happen because the majority of this real estate will be passed on to children or seized up during estate auctions. It is unwise to consider the possibility that building up equity and buying a place to live (yes, you will never truly own it due to property taxes) as not important until real estate becomes cheaper. Given that expensive areas, like San Francisco for example, are having inventory skyrocket due to migration en masse, these people are now fleeing to areas with rural land or more affordable housing. The population is only increasing and the amount of available land specifically for the US citizens and not globally is decreasing. Farmers and real estate moguls buy up hundreds and thousands of acres each year and, more often than not, only sell to each other or pass down to their children as non arms length transactions.

Long story short - do not wait to buy real estate because you believe it will crash. If you don’t want to buy it, that’s completely fine, but that reason alone is not wise

Better question is why aren't millennials buying trailer homes? Cheaper than constantly renting apartments.

>I was approved for around 250, but the home I wanted was 190k
You must live in backwoods Mississippi if you're only paying that much, or it's just a shitty house.

How much you invested and much you had when exitin LINK?

These real estate moguls you speak of are not filling their bags right now fag. Why would they be buying assets at a premium

Buying a house is a win-win over renting. I bought a 4 bed house two years ago for $500k, and worried I bought the fucking peak. Covid comes along and I think I'm fucked. Well actually fed reduced rates to 3% so I just refinanced from a 7 year ARM to a 30 year fixed, the appraisal came out higher so I was able to take out $50k and actually reduce my monthly payment. That $50k alone can cover the mortgage for well over 2 years. Feels so good knowing in the face of inflation I have a fixed payment for 30 years, and even when the biggest fear of home buying, that an economy catastrophe happens soon after, happens you end up ahead. Turns out the system is just rigged for home owners and you are literally just throwing away free money by renting just to try to fight the system. its futile.

I live in Nebraska and just purchased my home for $130k. It's an older home, but decent and in a few years I'll be able to rent it out when I upgrade. The midwest is boring, but it's affordable.

South Carolina near Charlotte so idk if that’s backwoods lol

There’s no need to get defensive, I’m just trying to give you a very real scenario. I work in mortgage financing for the Ag industry and trust me, you don’t need 1000 properties to be consider a mogul. PLENTY of real estate is being bought right now whether at a premium or not. Also, if you think okay fine I’ll just go to these death estate auctions. You should know these auctions usually require the funding to be prepared or liquid as of 1-2 business days. If you think the people on this board gambling shitcoins and renting at 800-1k per month are able to save 200k in liquid assets as of 1 day that just won’t be the majority, especially if you are a major consumer living off credit cards. Always so hostile when your opinion is challenged baka

Yeah there’s not much in Nebraska and for young guys like me who want to live in an area with plenty of IT jobs with the leading businesses we have to be closer to civilization. It’s not feasible to live in the middle of nowhere for us. Hence why we can’t afford housing.

Because the earth isn't growing you fucking simpleton. It really is that easy.

Yeah that’s backwoods.

I'm defensive and hostile because I called you fag. I was just using your pronoun of choice

>What is remoting working becoming the norm, further incentived by the post-covid response of higher commercial property taxes to pay for stimulus.

>What is an extremely accerlated adoption of automation methods due to dimished workforce and a post-covid stimulus repsonse of higher payroll taxes incentiving reducing the payroll permanently.

>What is the whitest of flight.

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We're not close to running out of any resource, and that includes land you retard. It's a big fucking planet

And the people with the money to buy it have exponentially increasing wealth to buy up that big planet.

And you think they just hold those assets, or they sell them at the right time. Then buy more assets at good value areas as oppose to right now where prices are at a premium. If you're buying someones heavy real estate bags right now then you are contributing to that exponentially increasing wealth of a particular group of people. Stop being plebs

Not really, real estate is scarce in that it only includes land that is:
close to other people (for jobs)
connected to infrastructure (roads, power, water)
in inhabitable land (not deserts, mountains, forests with no access)
not taking up land useful for other things like farming

In reality most land not built on these days is not built on for a reason, otherwise someone would have bought it up. And it takes significant investment by the local government to provide access to resources (utilities, transportation, police & fire, hospitals, etc). So city zoning also creates scarcity.

presumably an adult lives there so why does it look like a teen bedroom?

5% on a 200k home is pathetic. mortgage insurance out the ass.

you can get affordable houses in the North and South East and still live near cities worth visiting. I don't know why double wides are so expensive out west.

This cuck closet

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Wtf why is that house so cheap