Topic: Will they ever be able to afford a house? - page 5. (Read 1024 times)

Good point. Technological progress opened up new opportunities for workers too. It's mostly illegal in one or the other jurisdiction and subject to (tax) paperwork overload yet relatively easy to get away with.

True. Most people will not afford a house (irrespectively of generation) - that's the fact of life.

Are you able to tell when the future comes and how to get there? Going to university, getting a job, mortgage and married is not enough it seems.

While I understand that misuse of money is spoils a plan to afford a house, I think that there aren't opportunities of investing in real estate at younger age (little savings, impossible to buy 1/10 of a house). Could you suggest any, please??


Agree altough regulators go in the opposite direction as far as I can see.

For some reason the "until they can have their own house" rarely happens even after the age of 40.

I think one of the problems with the new generation are the influence of social media. They see the large and expensive houses of their favorite streamers and they think they can have the same, without starting at the bottom.

The way to get to the top, is to start from the bottom. You start with a single room..  sell that and buy something bigger... then sell that and buy something even bigger than that... until you can afford to buy that dream house. By that time your salary might have increased enough for you to afford the rates and taxes. 

Well, at least we will live 5 years more (of pain) compared with the ones who bought a house in 1980

The funny fact is that I tried to explain more or less the same info to people from that generation and they don't agree that for younger people it is much more difficult to buy a house because of lower salaries and higher prices. In the past, if you saved for a few years you were able to cancel your mortgage and, if you wanted, start paying a second house, but today that's almost impossible and the first mortgage is usually designed to accompany you for your entire life.

So you are right: if you have the chance, save while you can (in the house of your parents for example) and try to borrow as little as possible.

Taking out a housing loan is indeed an option for the current generation to be able to get a house because it is very difficult to be able to build a house if you don't have enough money to be able to build a house and if we decide to take out a housing loan of course we have to meet the requirements to be able to take out a loan because Without fulfilling these requirements, the real asset company will not provide a home loan.
In my opinion, it would be better for us to save to be able to build our dream house rather than taking out a housing loan and if we cannot pay it properly it will certainly be a problem for us.

The younger generation will probably have more difficulties. For one, the prices of houses have already increased a lot. The purchasing power of money has gone down so much.

And then there are others factors such as the increasing expenses. Younger people have so much expenses. Many youngsters now, even those who have decent salaries, can't afford to buy a house because they spend on so many other things. Gadgets alone are expensive and have to be replaced after a year or two.

In the past, people don't have iPhones and Macs and Television sets and PlayStations and Air Jordans to buy. Today, there are so many of them and they come as priorities.

If you can consider housing loans as a form of being able to afford a house then I would say that the new generation will be able to afford a new house or even a rundown property and just restore it but that's still a problem because I do believe that the prices of properties are just so damn high right now and I don't think that it should be this way just to satisfy the greed of the real estate companies and moguls.

here is the thing bro the house price is really expensive, you can look at the chart from 1991 to this year the price is keep on climbing for regular job with low skill I do believe will be hard to get a single house

If we talk about the economy and technology, of course every year it continues to experience improvements and changes, the relationship between technology and the economy is very closely related, because technological development and progress will influence economic growth, and vice versa. In the past, to be able to get that money, someone had to leave the house and most of them worked relying on physical work. This is different from now, everything is practical and instant, and this can be realized because of technological developments and advances. However, this also causes some of the Gen Z generation to become lazy and not have their full potential. Even if you think about it again, with the presence of terkonlogi, someone will be able to generate income without having to leave the house. But for some reason some of them are really lazy to understand this.

To be honest, because of covid, I thought that everything is going to be cheap because with all of those demands have been dropped a lot when everyone was just at home and things were no longer desired but then I was wrong. Because when things have been back to normal, the demand have increased and this made most of the prices to shoot up again.

Yes, there's no doubt that many will still be able to buy their own houses but no longer the dream house that they've been planning. With the cost of construction materials, they've all increased as well. While in some countries, alternative options are made and readily available like the van and truck houses ready to go and the container vans as long as you've got the piece of land for this option. Anyway, it's all going to sum up on what can you afford and you can still live comfortably regardless of the option you do. As they say, there are many opportunities all around the world but you can't take all of them depending on the circumstances that you're dealing with. Well, many are all talk but don't see the actual situations of everyone.

Short answer: they won't be able to afford things that GenXs and GenYs would be able to. House, Cars, heck I reckon most of them including those that live in the US will die paying off their student loans cause Gen Zs get paid shit, for jobs that give them the most stressful work profiles and settings. Most Gen Z people nowadays have to work 2-3 jobs just to get by. Not to mention the worsening state of the environment, microplastics in blood and in babies. We're literally at the end of times at this point.

What I could advise those who are sadly in this position is to either look for high-paying careers instead of sticking to whatever they think is their forte, cause at this point in our lives you really have no choice if you want to live and survive. You also would need to look into ways to passively earn income like cryptocurrency, investing, or other ways. There's a study that says the rate at which partners divorce are increasing every generation, so while the age itself isn't necessarily apparent, there is some truth to OP's statement. Plus Gen Zs do take apprenticeships/internships, but unlike back in the days where even if you don't get paid you get support in some way or another, all you get from modern internships now is nothing but a pat on the back and a certificate that says you're able to do the job.

Right from when I read “internships or low paid job”, I started sensing that you may be siding with the way things were in the 1980. First, I’m not sure if the average gen z does internships. Second, what you wrote for gen z age 35 is really personal . Because why would you consider that the average gen z will divorce their partner? And then what you did again at age 50. In case you have forgotten, getting divorced started before gen z, low paying jobs were there too back in those days. In fact, if you speak to the grannies they will tell you how much suffering they went through. But today, we can see very young gen z making a lot of money. Aren’t they the ones cluttering the internet as influencers?

Controversial information. Now, to me, is a time of great opportunity. Starting with the possibility of dynamically changing my profession, and ending with the possibility of earning income from different channels at the same time, without even going to a regular job. There are opportunities for self-development, self-study, and there are no requirements to "present your diploma, otherwise we will not hire you"

That's right, it's very different now and we can see how the world will change now than before, especially when there was covid. This is where everything changed or let's say it was the biggest contributor to change the world.

The price of houses will increase too much, and it is still rising. But there are still others who can buy and build a house as long as they work hard and persevere, nothing is impossible for a dreamer.

Buying residential property is different and it can be shown as one of the possible way to make passive income but taking a loan to live under a roof is big risk and the value of the house can appreciate or depreciate depending on the location but future is uncertain and I don't see much potential in the real estate market after one point so those old ideas of becoming rich is obsolete and who ever wants to become rich, especially GenX or Z need to find new ways too.

There is no doubt that life used to be easier back then, but as said by others as well, I think the points are not balanced because you have highlighted the negative points of today and the positive ones of the 1980s. Other than the regulatory and tax problems that are higher today compared to then, I believe one can still live life the way one could in the 1980s if one plans everything properly and does things according to their plan and doesn't have a lot of debts to pay as inheritance.

Countless people are doing pretty well even today because they have completed their studies, crafted their skills, and have great-paying jobs which makes them able to clear everything within a specific period instead of living their whole lives indebted, they buy their house, have savings, make investments, and live a great life after retirement.

The description is too exaggerated in favor of the 1980s perspective... so it's not fair. Always assessing with a negative outcome for the 2023 view. Even in death, you mention taxes for the left column, and for the right column, you only write "death."

In my opinion, comparing the past to the present can't be based solely on the cheapness or expensiveness of goods. It can't be just about material aspects. You should realize that nowadays there are many healthcare tools, computers, machines, and so on that make life easier. People in the past didn't buy these, but people nowadays seem to feel compelled to buy these expensive tools, making them feel burdened.

I distinctly remember from 2000-2002, I struggled a lot to get breakfast. Yes, I lived in an economically difficult family, even though the prices of food were cheap at that time. But now, in 2023, I can more easily get food three times a day with a lot of job assistance accompanying my daily life. That means the things you mentioned in the spreadsheet link you provided are not entirely accurate.

Difficulty and ease are not determined by the era or year, but rather by how someone can maximize their potential and also seize the opportunities that exist.

Nowadays, success is easy. Whether you are young or old, as long as you are willing to learn and work hard, you can make a lot of money and be able to buy a house, not only a house but also a car.
because nowadays you can make money from home, you can be a content creator, youtuber, blogger or airdrop and bounty hunter, freelance on upwork and many more.
you have the skills and abilities can definitely make a lot of money in the online world.

The sheet is nothing but a little too biased. The OP really think that everything under the 1980s sheet was just as simple as that, as if debts were not present during those days and how he emphasizes on the "no paperwork" transactions. Well, I think he's a little outdated with how people could get multiple jobs that doesn't require any paperwork over the internet today. I also think he has not heard of young professionals continuously upscaling to try and catch up with the competition in the freelancing industry today.
Driving license, working permit, business permits, and all other licenses and permits to be eligible for someone to do the job is necessary. Even in the 80's all of that are present. So, I don't know what the sheet was trying to point out with that one.  You can't have someone drive your truck without the license, because that's one of the thing you need to look at to identify that he qualifies for the job.

Certificates were also created because of the competition, so!!!

arguable statement to say that its like a trap with the need to pay mortgage for 20-30 years, but I do agree, basically if we need to work 30 years just for a house which essentially is just a cage at that point I would refrain from buying it, if for gen z it doesn't seem to be bright future with housing just rent, the financial economic are hell for those finding proper affordable housing.
paying mortgage for 30 years is equal to wasting our life for 30 years for just a building it doesn't make sense if we view it from the other perspective only when we able to make it big that we deserve owning such building no need to wait for 30 years wasting our time away working just for a dang building to sleep doesn't make sense at all indeed.
i would at this point prefer to live in the country side for cheaper housing than working 30 years straight with half of my salary.

Even though a lot of the time and energy they have is still unused and wasted, they have to think about becoming rich so that when they are young they have to work hard and make a lot of money. Cryptocurrency is an alternative to looking for extra money, if only Relying on income in one place will not make us grow and, of course, will provide a very meaningful experience when you want to try new things.