4 ms·

I believe that the truth is somewhere in between. I'm 27 and own my own home. Where I live it's actually more economical to own if you can accept living outside

I believe that the truth is somewhere in between. I'm 27 and own my own home. Where I live it's actually more economical to own if you can accept living outside of the city. Many people my age refuse to make that compromise and instead pay a few hundred extra a month to rent 15 minutes closer to the city.

goostavos 10y ago
I'm 29 and I pay the extra couple hundred each month. I don't need or want a large home. Living closer to everything and cutting commute time is worth waaaaaaay more to me than having a ton of space to store my junk.
- cmdrfred 10y ago
  I like owning dogs and having a yard for them to play in. I also like equity and having room for servers in the basement and my fiancé and I both having our own offices. I really like not hearing my neighbors parties or seeing random weirdos hanging out in the hallways. To each their own. Nothing in the city really excites me. Quite frankly I find the noise and bustle annoying.
intopieces 10y ago
Unfortunately, the truth is not somewhere in between. "The drop in homeownership is largely due to a delay in homebuying by the millennials, who have the lowest ownership rate of their age group in history. Millennials are not only burdened by student loan debt, but they have also delayed life choices like marriage and parenthood, which are the primary drivers of homeownership. " http://www.cnbc.com/2016/07/28/millennials-cause-homeownership-rate-to-drop-to-lowest-level-since-1965.html http://www.cnbc.com/2016/07/28/millennials-cause-homeownersh... Can Millennials Afford The American Dream? http://www.forbes.com/sites/kerrizane/2016/01/24/will-millennials-afford-the-american-dream/#6f09feeb7379 http://www.forbes.com/sites/kerrizane/2016/01/24/will-millen...
- cmdrfred 10y ago
  As I said it actually costs less money to own where I live. With FHA loans very little capital is required up front. You just don't get to live within the city proper and instead have about a 15 - 20 minute commute. I've spoken to dozens of young professionals (most of whom make much more than I) about this, they'd like to own in center city but that isn't happening so they rent. I'm a highschool dropout who has no familial support. If I can do it so can someone with a college degree and better access to opportunities as long as they are willing to make the same sacrifices.

goostavos 10y ago

I'm 29 and I pay the extra couple hundred each month. I don't need or want a large home. Living closer to everything and cutting commute time is worth waaaaaaay more to me than having a ton of space to store my junk.

cmdrfred 10y ago
I like owning dogs and having a yard for them to play in. I also like equity and having room for servers in the basement and my fiancé and I both having our own offices. I really like not hearing my neighbors parties or seeing random weirdos hanging out in the hallways. To each their own. Nothing in the city really excites me. Quite frankly I find the noise and bustle annoying.

intopieces 10y ago

Unfortunately, the truth is not somewhere in between. "The drop in homeownership is largely due to a delay in homebuying by the millennials, who have the lowest ownership rate of their age group in history. Millennials are not only burdened by student loan debt, but they have also delayed life choices like marriage and parenthood, which are the primary drivers of homeownership. " http://www.cnbc.com/2016/07/28/millennials-cause-homeownership-rate-to-drop-to-lowest-level-since-1965.html http://www.cnbc.com/2016/07/28/millennials-cause-homeownersh... Can Millennials Afford The American Dream? http://www.forbes.com/sites/kerrizane/2016/01/24/will-millennials-afford-the-american-dream/#6f09feeb7379 http://www.forbes.com/sites/kerrizane/2016/01/24/will-millen...

cmdrfred 10y ago
As I said it actually costs less money to own where I live. With FHA loans very little capital is required up front. You just don't get to live within the city proper and instead have about a 15 - 20 minute commute. I've spoken to dozens of young professionals (most of whom make much more than I) about this, they'd like to own in center city but that isn't happening so they rent. I'm a highschool dropout who has no familial support. If I can do it so can someone with a college degree and better access to opportunities as long as they are willing to make the same sacrifices.