63% of millennials under the age of 29 cannot even afford the co

https://www.lewrockwell.com/2018/09/martin-armstrong/the-millennial-crisis/ 

"According to a new survey from Zillow Group Inc. (ZG – Get Report), approximately 22.5% of millennials ages 24 through 36 are living at home with their moms or both parents, up nine percentage points since 2005 which was 13.5% and the most in any year in the last decade. Between the student loans which cannot be discharged thanks to the Clintons (to get the support of bankers) even after they find that degrees are worthless when 60% of graduates cannot find employment with such a degree and the fact that taxes have escalated to nearly doubling over the last 20 years that is predominantly state and local, the affordability of buying a home has been fading fast. Despite the fact that millennials are eager to enter the real estate market, they’re bearing the brunt of the challenge directly caused by the combination of taxes and nondischargeable student loans. 

Now 63% of millennials under the age of 29 cannot even afford the cost of homeownership, according to a CoreLogic and RTi Research study. The expense, in fact, is their number one reason for remaining a renter" 
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" the economics of inefficient governments at the state and local levels have refused to reform and raise taxes to meet pension costs they promised themselves. Politicians from London to Vancouver have increased taxes to try to bring home prices down rather than looking at the problem objectively. All they are accomplishing is punishing people who have owned homes and destroying their future when home values were their retirement savings" 
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"Depressions take place when the debt and real estate markets collapse – not equities and commodities. The amount of money invested in debt markets dwarfs equities, It is ALWAYS the debt market that you undermine when you want to destroy an economy. 

Taxes and the rise in interest rates will further erode affordability and is beginning to slow existing-home sales in many markets already. As this trend continues, home prices and mortgage rates over the next couple of years will likely dampen sales and home price growth. " 

 

所有跟帖： 

• 爸妈的房子将来不也是会传给他们吗？ -Porcelana- ♀ (0 bytes) () 09/27/2018 postreply 19:27:50

• More likely, reverse-mortgaged to pay medical/LT care -career- ♂ (211 bytes) () 09/27/2018 postreply 19:31:09

• Reverse mortgage volume is actually pretty low。Read the link: -Porcelana- ♀ (244 bytes) () 09/27/2018 postreply 19:42:23

• waiting for more baby-boomers getting into their end of life... -career- ♂ (23 bytes) () 09/27/2018 postreply 19:53:06

• 做子女的怎么能期望父母的房产？要靠自己养活自己和抚养家庭。 -swj2000- ♀ (0 bytes) () 09/27/2018 postreply 19:55:30

• 作为经济学家我不做道德评论只是描述和分析现象。 -Porcelana- ♀ (0 bytes) () 09/27/2018 postreply 19:58:47

• 利息高，房价降，难道是对年轻人买房的affordability是坏事？ -Narnar- ♀ (0 bytes) () 09/27/2018 postreply 19:32:15

• adds a significant headwind that already has more headwinds than -career- ♂ (6883 bytes) () 09/27/2018 postreply 19:41:54

• 降对年轻人买房是好事，不知又要忽悠啥呢，等着看事实吧 -Narnar- ♀ (0 bytes) () 09/27/2018 postreply 19:51:41

• 是好事--if they pay cash/have small mortgages. -career- ♂ (0 bytes) () 09/27/2018 postreply 20:03:06

• 难道房子贵更好吗？本来也不该鼓励买自己不能支付的东西，因为这类性格，利息怎么做他都会不满意吧？ -Narnar- ♀ (0 bytes) () 09/27/2018 postreply 20:05:01

• How many people bought their primary home with cash? -career- ♂ (0 bytes) () 09/27/2018 postreply 20:10:34

• 这是另一个极端了，那是很少情况吧。年轻人cash 少，利息高了买不起，需求少了所以房价才降吧？ -Narnar- ♀ (0 bytes) () 09/27/2018 postreply 20:11:53

• 房屋价格的上涨远超薪资的上升，没办法 -luxh009- ♂ (0 bytes) () 09/27/2018 postreply 19:35:06

• 利息高，房价要降了吧 -Narnar- ♀ (0 bytes) () 09/27/2018 postreply 19:50:47