It's not complicated, really. Leveraging homes and securing mortgage debt led to house prices soaring from 200% of average yearly gross incomes to over 400-600% today thanks to flooding the market with credit instead of encouraging a simple year of saving.
Well just sell your home to a Chinese investor!
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Millennials don't want to buy baby boomers' sprawling, multi-bedroom homes, and it's creating a major problem in the real-estate marketMillennials aren't buying large, elaborate houses built by baby boomers, leaving the homes to sit on the market and eventually sell at huge discounts. Isn't the narrative that millenials are broke anyways? Were 'roomates' just a Gen X thing? Most Millennials can't even afford to buy their own underwear.... When both partners have full time jobs, they don't want the 3rd job (the house). Nevermind the commute and the 20 minute drive to get to a Whole Foods... sadthatbefore
Source: BusinessInsider - 🏆 729. / 51 Read more »