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Maybe because the young people are facing a higher housing prices, and they don't believe that it could raise for the same amount in the future.
by netheril96 8y ago
Maybe because the young people are facing a higher housing prices, and they don't believe that it could raise for the same amount in the future.
- isostatic 8y agoMaybe Young people are more mobile. The security of buying a house is beneficial when you’ve got kids at school. When you don’t mind where you live as long as there WiFi and transport renting is beneficial, you can move across country on a whim.
- ido 8y agoWell, young & old in this context roughly translates to millennials & baby boomers. It is the former that are more likely to have kids in school, not the latter.
- closeparen 8y agoIf you require public transit, there are only a handful of places you can live, each with unique and volatile conditions that make owning especially attractive. It’s suburban sprawl which is almost perfectly fungible nationwide.
- toast0 8y agoDepending on the type of transit, owning near the stop is only attractive until the transit operator eliminates your stop or your route.
- coldtea 8y ago>Maybe Young people are more mobile. That wouldn't explain why young people in previous eras bought houses sooner.
- JumpCrisscross 8y ago> That wouldn't explain why young people in previous eras bought houses sooner It could. Moving across the country is cheaper and less risky now than ever before. That certainly factors into my preferences around home ownership.
- coldtea 8y ago>It could. Moving across the country is cheaper and less risky now than ever before. Is it? Rent itself was much cheaper in the past, even in New York. As for the risk, back in the 50s to 80s, a worker had many options of finding work in tons of places. Now, much less so.
- SZJX 8y agoMaybe it's also a value thing, where the young people nowadays have much more liberal values in general. Also technological advancements like the Internet, etc.