Housing market helps explain generational discontent

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 56 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Want to know why younger generations seem so pissed? Look at the housing market.

This lack of affordability isn't just in a handful of coastal markets, either. Of the largest 25 markets, just, where monthly payments on new mortgages are less than 25% of household income, per Goldman Sachs.

And for those who can afford to buy their own place, they're getting less house per dollar spent. Whereas $300,000 could have bought a roughly 2,000 square-foot home in March 2000, today the same amount might buy a 1,400-square-foot property, according to data cited by my colleagueYes, some of those other factors, like healthcare costs or student debt loads, have also gotten much worse in that time too. For example, health insurance premium contributions and deductibles totaled 11.

But while Americans have different health situations , all of them live somewhere. And whereas shoppers can trade down to cheaper brands when facing inflation, or to save money, the amount they pay to keep a roof over their head is pretty rigid. Together, those factors are pushing an increasing share of young Americans to delay renting their own place. In 2021, 68% of 25-year olds were living outside their parents' home, according to Pew, down from 84% in 1980.

For those who are able to rent, the monthly checks to their landlords are taking up a bigger and bigger share of their income.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in MY
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

How climate change is causing housing market chaosInsurance companies and state governments across the Sun Belt are trying to prepare for or prevent future disasters caused by climate change, and the housing market is being disrupted as a result.
Source: WOKVNews - 🏆 247. / 63 Read more »

How climate change is causing housing market chaosInsurance companies and state governments across the Sun Belt are trying to prepare for or prevent future disasters caused by climate change, and the housing market is being disrupted as a result.
Source: YahooNews - 🏆 380. / 59 Read more »