This chart shows why millennials, the biggest generation in American history, will keep housing prices sky-high for years to come
This chart shows why millennials, the biggest generation in American history, will keep housing prices sky-high for years to come
Ya it’s totally millennials and not the investment firms buying everything up with cash. Brilliant article!! Gaslighting at its finest.
You've got cause and effect backwards there.
Because of boomer NIMBYs and the great recession causing a massive undersupply of housing, and the size of the millennial generation causing a huge increase in demand, housing is a great investment. NIMBYs will ensure housing supply stays low for the foreseeable future, keeping it a good investment.
Because it's a great investment right now, investment companies are buying housing.
The article blames Millennials because it's the largest generation in terms of headcount, and then spends the rest of the time discussing how Millennials were fucked over. Interesting take... I wonder if they know how to actually apportion blame.
You joking? I can’t afford a house lol. Don’t blame the millennials. Blame corporations and ban companies from owning residential property.
Fucking generational bullshit.
Nothing to see here, it’s just the mouthpiece of the financial institutions blaming the latest scapegoat for its greed and wrongdoing.
So, I'm working on organizing political action at the local level to push for pro-housing policies, better urbanism, and better walkability/biking/public transit. I want to see the cost of living in the US be realistic again, and I think that lots of us getting involved locally and beating out the NIMBYs can get it done. There's going to be a lot of pushback because it's going to bring property values down to a kind of remotely realistic figure, but what's the thing that high minded capitalists like to say? Caveat emptor? Get rekt private equity fucksticks.
According to the U.S. Census Bureau, the total number of Baby Boomers (born between 1946 and 1964) was 76.4 million. The total number of Millennials (born between 1981 and 1996) was 72.2 million.
When did we become America's largest population ever if boomers had more than us? What am I missing here?
Got paywalled on mobile so haven’t read the article yet, but could be about survival rates to adulthood? Largest adult population rather vs most babies born? Not particularly well framed either way.
After way too much research into this topic yesterday I can only conclude they are counting immigration data into the millennial side of things. They weren’t born here, but they are here now and of the age to be considered millennials, and they are technically American now, so it adds up to the biggest American generation ever.
Lots of technicalities in it, though!
with all that unlimited millennial money
As a millennial, it's just another tick on the "X is 100% millennials fault" list.
As a gen X, yes, us existing is somehow 100% your fault.
Sounds like gen-x trying to make it to old age without taking any blame.
Boomers selling homes to corporations and you want to blame Gen X?
This is talking about household formation. Basically, the rate at which a population creates people who will demand housing. How they obtain that housing is not a data point. It's just basically a question of "do you want a place to call your own?" Which is why this article is so full of shit. It's basically indicating that "if millennials just stopped demanding housing, prices would go down."
So if a millennial is sitting there in their parent's house and going "fuck this, I'm getting an apartment", that's increasing this value. They don't actually need to buy a house, they could rent it, that would still be forming a new household.
It just begs the question of what the fuck is this author trying to get at? Should millennial's parents have been fucking less? Should millennial's just build a single house commune? Should millennial's just start offing themselves? This article is a giant pile of boomer bullshit.
And here I thought I couldn't afford my house because of all that avocado toast...