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The millenials (sp?) have seen massive mortgage fraud that removed their parents or aunt and uncles removed from their homes because of 80/20's and appraisal pressure of "give me my number or I'll find someone who will" and title companies who "make the deal happen" and now they're in the first time buyers age group.
The rent vs. buy has a new discussion. Way to to go realtards.
Millenials are strapped with student debt and beginning to live with parents into late 20s to get liquid. The majority have ignored the stigma and are actually enjoying it. My guess is that the very American culture of moving out and away from your parents is rapidly shifting to multi-generatonal housing. I don’t think this will change. If builders wish to stay relevant they need to accommodate that cultural shift or start communities of tiny, affordable, efficient, dense, homes built around floor plans that suit millennial lifestyles.
Classic. Millinials are the product of lack of discipline and living by "feelings" instead of fact and reality. Being handed everything instead of being forced to work for it. Every one is a "winner" from the time they are 4 years old instead of learning that you loose if you don'g work for it. Constantly being rewarded for doing tasks that don't deserve rewards. Parenting by time outs and "comprimise" versus real discipline. It's the desinigration of American Society and it's pretty obvious to look back over the past 50 years and see what group of political people have led the charge of the "me first", enabled generation. The 18 to 30 year old of the World War 2 era would laugh in the faces of young people today. I woke up and started working at 4:30am this morning and I'm sitting here wondering how many of these millineals would ever dream of doing that. The best part of all this is how the young people vote. They continue to look for the hand out and the assistance from government not realizing that this is the very thing that keeps them down. How far has the USA fallen in the last 30 years?
Student Loans!!!!
Let's see. As a university student and part time worker I was able to use my 5k student loan to buy a duplex in Berkeley. At $763 a month I helped put my wife and I through the university, pay car insurance, and live a great life. That was the 70's. Soon the middle class began to get hammered by trickle down economics, the loss of organized labor, the swing of economic growth to a smaller and smaller percentage of the population. There is nothing wrong with this generation.
First of all, student loans are totally killing the Millinial capability of qualifying for loans. Second of all, the recession is all they can remember. After all they may have been only 10 years old when we tanked!