Topic: Will they ever be able to afford a house? - page 3. (Read 1024 times)

This all depends on where you live. And I personally am a person who lives in a village far from the city center, but because of education and work, I decided to live in the city. For me personally, building a house in the countryside might not be too difficult, considering that the price of land is very cheap and I can take the building materials directly from nature. However, due to work demands, I chose to live in the city in a small apartment. Because if I had to build a house in the city, right now I don't feel like I can afford it. So let alone being able to collect building materials, buying a plot of land is quite difficult, because the price is quite expensive.

i think it depends on the country, because in my own country, the government here gives relief to young people to be able to buy a house with installments of up to 20 years with the expectation that more young people will be able to get access to decent housing and there will be more areas that will develop after being inhabited.

however, the problem is that the houses that are usually offered are in suburban areas and not all young people want to live there, especially if they work in the city center and have to drive for hours to their house just to sleep.

so this is a dilemma for many young people here, and i think also globally, because they are faced with buying their own house in the suburbs or renting in the city center close to their office.

I understand - rent is out of control. Personally, I find it baffling how rent eats up such a huge chunk of our income! Like a marathon, the finish line continues sliding away. Capping real estate ownership sounds like a good idea, but isn't it complicated? Consider the broader economic effects. Limiting property ownership may discourage home investment, reducing supply

I support progressive taxation. Does it seem fair? But implementation is important. How do we define "rich boomers"? What's the threshold? Oversimplifying varied property owners is risky. The big picture comprises firms, international investors, and individuals. This game also has inflation as a wild card. It makes things harder for younger buyers looking to buy a home. Not only dreaming of a house, but developing a fair system to make it possible

the price of rent didn't help either its increasing so high that its ridiculous we're basically spending 60% just to rent a space where we can sleep, ridiculous honestly the government should be taking care of these thing maybe by limiting real estate or property ownership for each and give progressive tax because its definitely a problem that cause people to not be able to own house because its being hoarded by some rich boomers.
if such thing is regulated, then we can be sure that the property will not decrease in price but at least it will not rise as faster as it is right now giving people time to save up for the sake of owning some housing.
otherwise if the land and housing price keep increasing like this added with the fact that lately inflaction has been crazy its definitely impossible for newer generation that start from scratch to own house, only a fleeting dream.

And this is another reason why working form home has become more popular during the previous years, with the salary people are being paid on their jobs they cannot afford to rent an apartment that is close to their jobs, so they either accept to commute for hours or work from their home.

And working from home has the advantage that you could work for a company that is hundreds of miles away without moving out, so since distance is not a problem anymore, you could keep living where you currently reside or pick a cheap place to live and reduce your expenses this way.

Choosing to live in the city can indeed affect their finances, especially for Gen Z, they prefer to live in the city, taking advantage of existing facilities, getting a job with a decent wage compared to living in the countryside.  However, there are still many Gen Z people who do not have their own house in urban areas because house prices in urban areas are clearly much more expensive than in villages

I believe that if you want it, you can get it as long as you work hard and persevere. Even if the prices will increase a lot now, there are still many opportunities out there, you just have to act and grab all those opportunities. There is so much to earn these days. Technology is a great help, you just have to follow the trend.

Economic conditions are not normal now so it is very difficult to dream of building a house and planning accordingly. If earlier it was possible to run the family expenses for a month with 100 dollars, now it takes 200 dollars to buy the same amount of things for family maintenance. Our family expenses have increased and the price of every item has increased but only our income has not increased. The amount of income that used to be earned from that amount of income can certainly be saved by spending some money on family expenses, but nowadays it is very difficult for a middle-class employee to build a house when all his money goes to spend on his family expenses.

I dont know, but when it was early days it was still difficult to manage the life. We cant have comparison between the two timelines because for every timeline the wages and cost per capita is decided during that fiscal year. The market prices, industrialisation, wagering requirements everything changes as per the income of nation. I am not an expert in the economics field but we know very well that inflation is something that always play role. So someone who bought the house early 19 is just getting rid off the loans or mortgages but they are old now or possibly gone. Look at the inflation for them right now?? In similar ways we will have same condition after 30 years from now or 40 years. Nothing adds up for me from that excel due to above differences.

So far internet access has also reached remote villages, although it is not yet comprehensive and the problem is that the younger generation does not dare to leave their comfort zone because it could make them lose the opportunity to try something new. In fact, there are many young village people who leave to migrate to the city, but most of them work as unskilled laborers, so it is still quite difficult for them to raise money to buy a house.

The development of the times has given rise to many jobs in the technology sector and the internet also provides access for young people to achieve their dreams. But as long as young people do not dare to take risks and leave their comfort zone, the opportunity to improve poverty equality will be much more difficult.

The short answer is because internet access is easy, which can be used to earn greater income than using more land in remote villages where internet signals are usually difficult to reach. So that is what causes the Gen Z generation to choose to move to the city or buy a house in the city so that they can support their work and activities in earning a better income. So it is no longer surprising that this has happened in several regions for certain reasons, even though the aim is easy access to markets and the internet which has always been used by many groups for their respective income targets.

Starting with what one can afford (land or a modest property) is prudent. Sound investing requires gradual asset acquisition growth, which this technique emphasizes. We must also evaluate the financial ramifications of such investments. Is this method taking interest, property taxes, and maintenance into account? These are essential for real estate investing profitability.

While focusing on incremental growth, market research and location analysis are crucial. Even a poor home might appreciate immensely in the right location. Renovations and flips take time and effort. Financial competence, market knowledge, and patience are needed. With these in mind, real estate scaling can be profitable.

These two generations are different because when it comes to technology that has developed, they both have different points of view. Gen Z is known to be quite shrewd and understands technology because there are actually many opportunities to make money in technology now. There are many young people who have succeeded in buying houses by utilizing technology and there are also many young people who have succeeded in developing businesses which are quite developed at this time. It depends on how young people can see the opportunities available to earn money and when young people are creative then I am sure this will be much easier.

I am not trying to compare today's young generation with other generations as you said. But what I understand is that humans have the same opportunity, but it depends on how they can take advantage of it. The ratio of building a house in the absence of money is very difficult because the costs required are quite large and the younger generation must be able to prepare themselves for it.

It is undeniable that houses are becoming less affordable but this should not be a surprise to anyone, wages have not grown in decades, while real estate, college, cars and anything that is often considered to be a part of what an adult should have achieved already have increased in price faster than inflation.

So now the average person cannot really afford to buy most of those things anymore and they will have to find a way to get by without them, which is not as hard as it sounds if you know how to administer your money and you are willing to invest and hold those assets for a long time.

sounds logical but might be hard to pull off finding the buyer would be hard, even finding buyer for a land thats good enough is already hard but for those that so eager to afford housing with small capital this side hustle might be worth it even more so for those that don't really have high paying jobs, it does make sense to keep reselling something at higher price by simply decorating it.
but in my opinion isn't the money better spent on investing in a more lucrative market where there are many potential like cryptocurrency market?
had anyone put their saving into investing in bitcoin it has doubled, of course there is risk involved but honestly if its bitcoin im sure even if its bearish market you can just wait until the trend change and thats it you will eventually profit.
moreover it also doesn't waste as much time you can also focus on growing your career instead since after all doing the thing you mentioned gonna be exhausting to be honest.

Yes, it makes sense, the past and present times are very different, so previous generations found it easy to buy a house or something else because in the past the price was still cheap and the needs were not as much as they are now. I am also sometimes confused about why Gen Z likes to be labeled negatively, to the point that every negative thing is always associated with Gen Z. Also why "old" people or those who feel they are not Gen Z like to glorify their era and tend to reject current developments and get caught up in past romance.

They only see the conveniences that exist today, but they forget that in every era the challenges and difficulties are different, for example in the past our parents/grandparents had to walk or ride bicycles everywhere because of the lack of transportation and limited transportation. . economy, now transportation is easy to reach wherever you want, no need to be afraid of getting tired. However, they forget that currently there are challenges that did not exist at that time, for example the rich used to buy houses, in the past land was still cheap, materials were still cheap, and in the past people had a high spirit of mutual cooperation. cooperation so that building a house is not a big problem for them, currently the salary is low. the need for a lot of land and property prices are unreasonable. That's just one example, there are many other problems that are actually more complicated at the moment.

Is this one of those trailer park types or the nomad one's because if this is the nomad kind of RV living then I gotta say that I agree with you, you're living the best life because you're traveling while not worried too much about a roof over your head but one thing to keep in mind when it comes to RV living is you have to be serious about your security if you're living alone and at the same time, it's not a permanent thing in my opinion because you need some place to stay that you can call yours. My take in all of this is that you do RV until the real estate bubble pops and then buy a house.

Average people usually dreams of having their own house when they grow up or when they become successful. But in reality, not everyone who dreamt of owning a house, can actually afford it nor was able to buy their house ever after they reached mid adult age.

But to answer the question, they can but not for everyone. If they have greater opportunity, even if it becomes more expensive in owning a house, they can still have their own house. Of course we're all aware that real property is becoming more expensive nowadays, especially comparing it back in '90s or '80s. But younger generation can still buy their own house— depending on one's opportunity and their current status.

how can you possibly say something that is not based on data like this!  In the 80s, people's purchasing power was still weak, even to do marketing, they had to use a lot of money because marketing in the 80s was not as easy as it is today, which can only be done on social media.  More people who lived in the 80s sold basic necessities rather than doing property business or buying land, but nowadays property business prices are no longer affordable, this is happening in all countries in the world.  Currently, only those who have a large salary or come from rich families can own a house, while those born into poor families and only earn a small salary ^{(even old people)} cannot own a house.

RV can be a thing in worm climate, but try living in it when it's cold outside. You need a good heat sorce to stay warm and RV is really problematic when it comes to that, since you either need to run your engine (which you're not allowed to do in some places), or have a gas heater running, but then you need to have good ventilation, or at least keep one window open to vent fumes and condensation. You can also run an electric heater, but for that you need to connect to the grid. Also, RV will never be comfortable since a small one won't even have a real bathroom. You want to shit in a bucket every day, go ahead.

Among the people I know inheriting a house is the only way you can get it. I know people who built their houses, but they had free land given to them by their families, or they renovated an old house left by their grandparents. I don't know a single person in  their 30s or younger who was able to get a house on their own in their own.