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Let's study the case of an average representative Gen Z and X. What is important or missing in the description (linked below)? What would you advise?

https://docs.google.com/spreadsheets/d/e/2PACX-1vRXBY1HDRX9R555CtDvJ31uYbXBHuVlGSfdGOT3JtzAnwR4gms2Ltqgx9K5EhYAg8WA0uk-knhVHB3o/pubhtml (https://docs.google.com/spreadsheets/d/e/2PACX-1vRXBY1HDRX9R555CtDvJ31uYbXBHuVlGSfdGOT3JtzAnwR4gms2Ltqgx9K5EhYAg8WA0uk-knhVHB3o/pubhtml)

Well i’d say this pretty much sums up the average gen z and x person but this is in typical fashion of course not all people are gonna live their life like this due to many factors in life such as the state of their life even before they enter the work age

So I looked at the sheet, and I saw that the 1980s are better than the 2023s, but I would say the data isn't correct because it seems to be one-sided. Only the disadvantages of the 2023s are in the data, and so too are the advantages of the 1980s.

I will advise you to balance the sheet first.

Mind you, there is a lot of sense in what you're trying to do. Rephrase it, balance the sheet, and let's see what the results are.

the 1980's had universities too
there are people that are 50+ now with student debt meaning they too had student debt in the 1980's
https://talkimg.com/images/2023/12/25/Isd2f.jpeg
yep even with people now in their 50's paying down their student debt for a few decades they are still only half way out of debt compared to people in their 30's just starting to pay down their debt

mortgages in the 1980's also existed. and if you look at the interest rates of the 1980-1990's when people were settling into families after university. you will see interest rates of the 1990's were higher then 2010's-2020's
https://talkimg.com/images/2023/12/25/Isa4D.png

yep people in the 1980-90's have mortgage rates above 7.5% and upto 18%
people 2000-2020 were below 7.5% and even down to 3%

Your scenario is simply too biased. In general I agree that there used to be less taxes and less regulations, but don't young people buy houses today? Of course they buy them, even though there are more difficulties.

There are difficulties of that time that you do not mention, for example interest rates at 17% in 1980. And facilities of this one that you don't mention either, such as earning money on the Internet.

What you have done is to try to demonstrate the idea you previously had, not to make a disinterested study on the subject.

Think again, maybe we just need to understand some of the sides this forum has been working on for years. Here you can "work" with anyone without contract documents, without expertise certificates, all on the basis of trust, transparency. And I'm sure that today the informal work space is developing where one can have an income like people used to, even faster just to get a house.

Yeah right now it’s very tough for that generation. If they don’t already own a home, getting one is simply far fetched, with record breaking home prices and decade high interest rates.

The issue is worse because rents are up and along with inflation for everything else so people get to save less, they save less and they will never safe up for the down payment to get a mortgage. Hence why most are stuck renting forever.

https://imgvb.com/images/2023/12/25/8021e01d51d9b0580a9ff3f2099b95d5.png

Only some of Gen Z and Gen X who can afford a house, while the vast majority aren't. Moreover they will buy a house with long term mortgage like 20-30 years, so if they buy when they were 25 years old, they need to wait until 45 or 55 years old to fully own the house.

They need to work very hard, but as we know the current generations aren't tough since they struggle with mental health issues and they always try to look for work life balance.

Forget housing. Living in an RV is a better idea especially if you are young and working remotely. Don’t get me wrong, everybody needs a house sooner or later but you need to play it smart. Now the interest rates are high so no matter how cheap your dream house is, you can’t buy it unless you borrow money from the banks.


Buying a house is something but maintaining it is a whole different story. It costs lots of money. Instead of buying one, you can live a minimalistic life in an RV, save money for a few years and then buy your home without hurting your finances too much. That way your home’s maintenance costs will be easier to handle too.

Yes, everyone needs a house, but the land for housing will decrease over time. They will live in buildings with small rooms together with people who cannot yet buy a house. In the end, the dream of buying a house cannot be achieved because house prices will increase from year to year.

Living a minimalist life and renting a cheap apartment or house is the solution for some people. We admit that buying a house now requires more money. And that's why not everyone can buy a house. They could buy a small house for a family with a husband, wife, and two or three children.

And their children will also need a house when they get married. But the current generation is very lucky. This means they can work across countries without going to the office. And that's because the Internet helps them work. In addition, they can ask for higher pay if they have the skills required by the company. They can also freelance, which can generate large income. And maybe this generation can afford that expensive house.

Thanks.

Thanks and agreed. Would you suggest any additions? I am trying to collect the views from everywhere altough it's more difficult for me to get information about gen X perspectives.

Thank you for the insight. I presume it is about US.

Thanks and agreed. ("disinterested study" wouldn't have prompted feedback probably).

Regarding with your position still single or have been marriage, I think some one have marriage will understood how important with buying and they want back to young age want to prepare good financial and invested to buy house.
Actually year by year cost of house grow up significant and most important have to prepare its early before having family and we are spending too much money for daily needed.
I am agree with your for buying home without hurting our financial condition, many people push them self keep try with loan and buy house with monthly payment and price of house drastically expensive more than 300% regarding with loan interest have to pay. If still financial not stable yet don't buy house and hurt your financial condition, better living with small house not permanently before has own house in the future.

Buying a house depends on one's income and financial management. No matter how hard the economy is today, there are still young rich people who makes money at ease, and bought their houses. There were still people in 1980s that had the opportunity to buy a house but they didn't due to mismanagement of funds.

There is a lot of opportunities which technology has brought to our doorstep which we don't have to meet the government or see anyone to benefit from it. The internet has made many youths that are jobless to have something that they can do. Bloggers are making money, online jobs and the rest. Life might be easy then in the 1980s but there were still debts and poverty, This are part of human nature as everybody cannot own a house and be rich at the same time.

If you want to know, some older people who missed the chance to buy their house at younger age will tell you how regretful they are because they misused the money they had then. It is a wise decision to have your home at young age so that even if you don't have money later you can put some part on mortgage or lease and that will keep bringing you some money. So don't throw away your opportunity to be rich in the future by throwing away the opportunity of investing in real estate at a younger age.

Seems the main cause of this difficulty is the way  things are made difficult for people who don't go through certifications.


Little emphasis should be placed on certification such as school and regulatory certifications. People should be employed based on how truely qualified they are for jobs, whether they have certificates or not. This will reduce the need to get them through expensive educations. And enable people to learn the necessary things via apprenticeship, good online tutorials for free or less than the cost of formal educations .
In regards to regulatory compliance, business owners who can't afford to be certified could meet (or even exceed) the required standards without paying for them. The regulators could randomly visit businesses to see whether they are doing the right things, rather than whether they're certified. They can then be certified when they are able to afford to pay and after going through verification to confirm that they have done the right things.

These should make it less difficult for the so called generation z to own their own homes without having too much debt.

IMHO, life was easier before than of today. You can even own house easier before because of the economies were not too tight and problematic than today. Today, if you go and see in most countries or just watch some videos related to real estate. Many of the current generation will say that they can't afford to buy their own real estate and can't pay mortgage. Due to how expensive it is, they are choosing to just rent and let it be until they can have their own house in a rural area where lands are quite cheaper than from the city.

I think this point of comparison is quite imposing when they are clearly different, "past and future" :o ,

but we are on a journey of faster development, and the difficulties that are a bit imposing, I think do not completely reflect what is happening. I don't know what people are like in the local area, but in the area where I live, real estate prices are increasing compared to the local currency, but that's not a problem because personal income is also increasing, perhaps partly. I live in a developing country so the current generation can access many jobs where they can have enough money to own land or build spacious houses. I'm not sure what everyone's housing and land standards are, but I see that in every period there are problems for that generation. If hard work is not rewarded, that is not the nature of generation life (fairness exists).

Similar arguments have been put forward generation after generation. They might have it especially rough though, but the reality is that it takes a long time and commitment to saving an acceptable deposit, along with a lot of sacrifice - that everyone who has bought a house has gone through. The government should take measures that prevent too many companies from sucking up properties that might otherwise be bought by individual homeowners, as they can act like vultures if not properly regulated. Besides that, the best thing these younger generations can do is get an education that will unlock decent salaries.

If they can learn well, work hard, get good salary, they can buy a house.

Social political economic conditions are always changed and they will have to adapt to changes to live and to buy a house.

Education is key for their wealth.

There is a sizable and growing income gap between adults with a bachelor’s degree and those with lower levels of education (https://www.pewresearch.org/short-reads/2022/04/20/how-the-american-middle-class-has-changed-in-the-past-five-decades/).

https://www.pewresearch.org/wp-content/uploads/2022/04/ft_2022.04.20_middleclass_08.png

But the interest rates have skyrocketed lately. I am not sure if it makes sense to borrow money from banks right now.

Sure, if your monthly income is enough to pay the monthly payments, then go for it. But also take into consideration what will happen if you suddenly lose your job/business and fail to pay the monthly payments to the bank. You will lose your house. The banks will foreclosure it.

I am not saying RV should be your permanent home. If you have the cash or a reliable income, buy your home. I suggested a temporary solution anyways and RV'ing is cool/fun af when you are young.

Given that it is also a difference between generation, might as well consider the difference with expenses across two diferent years. Problem here is generalization; why would you be one sided if you have already the education to be innovative and resourceful with the things around you, that's for me the edge of education. Although people with no degree can also do the same thing but they'd more go through self learning and endless trials and errors which means it would be slower; faster phase means it would allow you to have more properties if things would be managed well. At the end of the day, no generation could tell anyone what will they achieve, no race should be imposed.
I'd say it has the same level of difficulty and people just have to adapt with what they are facing regardless of what year it is. The only obvious difference I guess where 'difficulty' is perceive, is with opportunities. Before you could go across different fields as long as you have a base knowledge of it and that also cover one's growth in those years.I formed this conclusion 'coz even if the cost of goodsis cheaper before, the minimum salary wage was also low that time.

Every generation has their own advantages and disadvantages the times determined the life style of the people of that time but as development advance a lot things has to fall behind. if we are to make a non bias comparative analysis of the gen z and x we will find out that each of the key differences of the generation has its peculiarity and uniqueness, and an advantage conditions in gen x may not apply or fit into the gen z visa-viz.

Older people will tell you that life in their younger times was simpler, much natural with much of the diseases of today alien to them, with less economic hardship and peaceful co-existence. while young people of today will argue that technology today has made life less hard to deal with unlike times back with crude tools, communications now made easy etc etc. What i can say at this juncture is that the conditions of things are just a reflection of the time we just have to adapt.

Exactly. I think the thing is that those Gen Zs who are able to make the most of their lives right now are reaping the benefits of Gen Xs and Gen Ys who are able to pay it forward. What do I mean by this? Well, since life was simpler back then and you could easily earn money, a lot of our grandpas and grandmas would've saved enough money good for 2 generations, if they weren't able to then I don't think that's on you anymore but I digress.

In that sense you're reaping what they sowed during their generation, tons of money and easier life but soon as you step out of their guidance and their care you'd come to realize just how fucked the lives of Gen Zs are right now. Houses are inflated in price with some of them unoccupied for years cause instead of giving those with less capabilities the chance to buy them off the bank, Millenials and Boomers are buying them off to rent them out as AirBnbs, which is fucked. Not to mention how hard it is to land a job compared to years ago, and how profitable a job is back then compared to now. I swear to god our grandmas and grandpas are able to live their life well on a minimum wage earner's salary, but if we do that today we'd die off malnutrition cause your regular 9-5's not gonna cut it.

So, are we going to be able to buy a House? If we're talking about the conventional means then no, we'd die off paying our debts.

From this available data, it shows that things are a way more difficult and complicated now and it is more difficult to make money. But in real life there's something that is not captured. People are leveraging on social media to make life somewhat easier than before and also availability of digital skills is one added advantage in 2023.
However, I saw a phrase in the document which sounded like the reality Things are going worse and inflation is killing the economy. This is the right time to check well whether or not rent or to buy house. Buying house could be more expensive.

In the current era, building your own house is one of the hardest and biggest milestones, because in this era, buying only land is so expensive and time-consuming for a middle-class person so how he can build a house on that land? And from what I have seen, most of the Gen Z (I am also a Gen Z) have parents who got home easily from their own parents and their parents got home to migrate to this country from another country (I am talking about myself).

I need around 40 lac to 60 lac to buy a mid-range house with basic needs and if you will convert this amount in US it would become around 21467.44$ This is nothing for a US citizen and he can easily buy a house in my country but he can not buy a house in his own country with that money. So, another difference is of country's inflation.

Back in time, our country was doing good, but not the inflation and inner matters of our country have put it in a bad situation that there are fewer opportunities for youngsters than before. In order to afford a house, people are going to foreign countries to earn higher currencies like in the UK, USA, etc.

Even if they can they shouldn't, it's not an asset it is a liability and will do no good for you and your future but just make you trapped in paying mortgages for 20-30 years. Making money isn't easy but the ways to make money is more than before so one who figure out what way they can make then they can start living the luxury life they want in a short time like even in 5-10 years of complete hard work is enough.

Yeah pretty hard for us, imagine land has gone up to 10x from the city and double from the provinces, so basically the best option for us in the near future is to live in the province with a pretty simple life with the opportunities waiting there. We have a slow paced economy, so I'll be in province when I retire, perhaps that is the most ideal for an old man  aight?

Inflation in my country is continuously increasing, today it is up to 6% what more in the coming years? I don't want to rent forever please...

Yeah, very on point thought. Before, it's like everyone can go on different fields as long as you can do it and will just acknowledge that you are able to prove your skill from there. This time, the competition is very tough and with the growing innovation from technology and various industries that are also applying it, opportunities are becoming less and more tough and crowded due to competition. I'd still think that life was easier before because there is not that much technology at all as these things have made our lives easier and quicker. What I mean to say is that you don't rush things before and still able to afford housing, buying a car and all of those things that are like luxuries nowadays.

I have to say, the logic is that, those houses that are bought are still there, it has to go down to someone eventually, which is what people are missing. I mean at this day and age, we do not make enough money to buy a house, by logic, if I save up 10 years worth of my salary, it still doesn't worth a house, and I mean like my WHOLE salary, for 10 years, doesn't worth a house. So the logic means that, I can't buy it, but if the generation above did manage to get it easier, that means they do, and that also means eventually I should too? I mean what happens to their house when they pass away? The problem here is not that, the problem is that if your parents never bought a house, neither can you, those are the people that will be screwed big time.

I'm on a same dilemma too. I make more than enough for my self and have good investments accumulated over time. There are some lots and houses to be bought south of where I live, but the problem is the place is full of criminals and traffic is very hard. I can move to the provinces and live a comfortable life, but that also means letting go of my job which is impossible to shift to a full time remote position. I mean, there are opportunities and choices out there for us Gen X and Gen Z people, and you really have to choose the right options and you'll be fine.

I might have to transition full-time to tech and leave STEM behind if I really want to own a house and live comfortably, or make do with renting until I make enough money to retire early and not work a single day anymore.

It is quite hard for the normals of these generations stated by @OP to buy a house if they just live passively.  Meaning, they are just relying on their regular job.  They need to step up their effort.  They have to look for more sidelines and if possible save for investments.  

We all know that those who only rely on their salaries often end up in debt so the majority of their salaries go to paying loans.  Every person should work hard and smart in order to have extra money to buy house and other life improvements.

Even though a lot of the time and energy they have is still unused and wasted, they have to think about becoming rich so that when they are young they have to work hard and make a lot of money. Cryptocurrency is an alternative to looking for extra money, if only Relying on income in one place will not make us grow and, of course, will provide a very meaningful experience when you want to try new things.

arguable statement to say that its like a trap with the need to pay mortgage for 20-30 years, but I do agree, basically if we need to work 30 years just for a house which essentially is just a cage at that point I would refrain from buying it, if for gen z it doesn't seem to be bright future with housing just rent, the financial economic are hell for those finding proper affordable housing.
paying mortgage for 30 years is equal to wasting our life for 30 years for just a building it doesn't make sense if we view it from the other perspective only when we able to make it big that we deserve owning such building no need to wait for 30 years wasting our time away working just for a dang building to sleep doesn't make sense at all indeed.
i would at this point prefer to live in the country side for cheaper housing than working 30 years straight with half of my salary.

The sheet is nothing but a little too biased. The OP really think that everything under the 1980s sheet was just as simple as that, as if debts were not present during those days and how he emphasizes on the "no paperwork" transactions. Well, I think he's a little outdated with how people could get multiple jobs that doesn't require any paperwork over the internet today. I also think he has not heard of young professionals continuously upscaling to try and catch up with the competition in the freelancing industry today.
Driving license, working permit, business permits, and all other licenses and permits to be eligible for someone to do the job is necessary. Even in the 80's all of that are present. So, I don't know what the sheet was trying to point out with that one.  You can't have someone drive your truck without the license, because that's one of the thing you need to look at to identify that he qualifies for the job.

Certificates were also created because of the competition, so!!!

Nowadays, success is easy. Whether you are young or old, as long as you are willing to learn and work hard, you can make a lot of money and be able to buy a house, not only a house but also a car.
because nowadays you can make money from home, you can be a content creator, youtuber, blogger or airdrop and bounty hunter, freelance on upwork and many more.
you have the skills and abilities can definitely make a lot of money in the online world.

The description is too exaggerated in favor of the 1980s perspective... so it's not fair. Always assessing with a negative outcome for the 2023 view. Even in death, you mention taxes for the left column, and for the right column, you only write "death."

In my opinion, comparing the past to the present can't be based solely on the cheapness or expensiveness of goods. It can't be just about material aspects. You should realize that nowadays there are many healthcare tools, computers, machines, and so on that make life easier. People in the past didn't buy these, but people nowadays seem to feel compelled to buy these expensive tools, making them feel burdened.

I distinctly remember from 2000-2002, I struggled a lot to get breakfast. Yes, I lived in an economically difficult family, even though the prices of food were cheap at that time. But now, in 2023, I can more easily get food three times a day with a lot of job assistance accompanying my daily life. That means the things you mentioned in the spreadsheet link you provided are not entirely accurate.

Difficulty and ease are not determined by the era or year, but rather by how someone can maximize their potential and also seize the opportunities that exist.

There is no doubt that life used to be easier back then, but as said by others as well, I think the points are not balanced because you have highlighted the negative points of today and the positive ones of the 1980s. Other than the regulatory and tax problems that are higher today compared to then, I believe one can still live life the way one could in the 1980s if one plans everything properly and does things according to their plan and doesn't have a lot of debts to pay as inheritance.

Countless people are doing pretty well even today because they have completed their studies, crafted their skills, and have great-paying jobs which makes them able to clear everything within a specific period instead of living their whole lives indebted, they buy their house, have savings, make investments, and live a great life after retirement.

Buying residential property is different and it can be shown as one of the possible way to make passive income but taking a loan to live under a roof is big risk and the value of the house can appreciate or depreciate depending on the location but future is uncertain and I don't see much potential in the real estate market after one point so those old ideas of becoming rich is obsolete and who ever wants to become rich, especially GenX or Z need to find new ways too.

That's right, it's very different now and we can see how the world will change now than before, especially when there was covid. This is where everything changed or let's say it was the biggest contributor to change the world.

The price of houses will increase too much, and it is still rising. But there are still others who can buy and build a house as long as they work hard and persevere, nothing is impossible for a dreamer.

Controversial information. Now, to me, is a time of great opportunity. Starting with the possibility of dynamically changing my profession, and ending with the possibility of earning income from different channels at the same time, without even going to a regular job. There are opportunities for self-development, self-study, and there are no requirements to "present your diploma, otherwise we will not hire you"

Right from when I read “internships or low paid job”, I started sensing that you may be siding with the way things were in the 1980. First, I’m not sure if the average gen z does internships. Second, what you wrote for gen z age 35 is really personal ;D. Because why would you consider that the average gen z will divorce their partner? And then what you did again at age 50. In case you have forgotten, getting divorced started before gen z, low paying jobs were there too back in those days. In fact, if you speak to the grannies they will tell you how much suffering they went through. But today, we can see very young gen z making a lot of money. Aren’t they the ones cluttering the internet as influencers?

Short answer: they won't be able to afford things that GenXs and GenYs would be able to. House, Cars, heck I reckon most of them including those that live in the US will die paying off their student loans cause Gen Zs get paid shit, for jobs that give them the most stressful work profiles and settings. Most Gen Z people nowadays have to work 2-3 jobs just to get by. Not to mention the worsening state of the environment, microplastics in blood and in babies. We're literally at the end of times at this point.

What I could advise those who are sadly in this position is to either look for high-paying careers instead of sticking to whatever they think is their forte, cause at this point in our lives you really have no choice if you want to live and survive. You also would need to look into ways to passively earn income like cryptocurrency, investing, or other ways. There's a study that says the rate at which partners divorce are increasing every generation, so while the age itself isn't necessarily apparent, there is some truth to OP's statement. Plus Gen Zs do take apprenticeships/internships, but unlike back in the days where even if you don't get paid you get support in some way or another, all you get from modern internships now is nothing but a pat on the back and a certificate that says you're able to do the job.

To be honest, because of covid, I thought that everything is going to be cheap because with all of those demands have been dropped a lot when everyone was just at home and things were no longer desired but then I was wrong. Because when things have been back to normal, the demand have increased and this made most of the prices to shoot up again.

Yes, there's no doubt that many will still be able to buy their own houses but no longer the dream house that they've been planning. With the cost of construction materials, they've all increased as well. While in some countries, alternative options are made and readily available like the van and truck houses ready to go and the container vans as long as you've got the piece of land for this option. Anyway, it's all going to sum up on what can you afford and you can still live comfortably regardless of the option you do. As they say, there are many opportunities all around the world but you can't take all of them depending on the circumstances that you're dealing with. Well, many are all talk but don't see the actual situations of everyone.

If we talk about the economy and technology, of course every year it continues to experience improvements and changes, the relationship between technology and the economy is very closely related, because technological development and progress will influence economic growth, and vice versa. In the past, to be able to get that money, someone had to leave the house and most of them worked relying on physical work. This is different from now, everything is practical and instant, and this can be realized because of technological developments and advances. However, this also causes some of the Gen Z generation to become lazy and not have their full potential. Even if you think about it again, with the presence of terkonlogi, someone will be able to generate income without having to leave the house. But for some reason some of them are really lazy to understand this.

https://cdn.statcdn.com/Infographic/images/normal/26901.jpeg

here is the thing bro the house price is really expensive, you can look at the chart from 1991 to this year the price is keep on climbing for regular job with low skill I do believe will be hard to get a single house

If you can consider housing loans as a form of being able to afford a house then I would say that the new generation will be able to afford a new house or even a rundown property and just restore it but that's still a problem because I do believe that the prices of properties are just so damn high right now and I don't think that it should be this way just to satisfy the greed of the real estate companies and moguls.

The younger generation will probably have more difficulties. For one, the prices of houses have already increased a lot. The purchasing power of money has gone down so much.

And then there are others factors such as the increasing expenses. Younger people have so much expenses. Many youngsters now, even those who have decent salaries, can't afford to buy a house because they spend on so many other things. Gadgets alone are expensive and have to be replaced after a year or two.

In the past, people don't have iPhones and Macs and Television sets and PlayStations and Air Jordans to buy. Today, there are so many of them and they come as priorities.

Taking out a housing loan is indeed an option for the current generation to be able to get a house because it is very difficult to be able to build a house if you don't have enough money to be able to build a house and if we decide to take out a housing loan of course we have to meet the requirements to be able to take out a loan because Without fulfilling these requirements, the real asset company will not provide a home loan.
In my opinion, it would be better for us to save to be able to build our dream house rather than taking out a housing loan and if we cannot pay it properly it will certainly be a problem for us.

Well, at least we will live 5 years more (of pain) compared with the ones who bought a house in 1980 :P

The funny fact is that I tried to explain more or less the same info to people from that generation and they don't agree that for younger people it is much more difficult to buy a house because of lower salaries and higher prices. In the past, if you saved for a few years you were able to cancel your mortgage and, if you wanted, start paying a second house, but today that's almost impossible and the first mortgage is usually designed to accompany you for your entire life.

So you are right: if you have the chance, save while you can (in the house of your parents for example) and try to borrow as little as possible.

I think one of the problems with the new generation are the influence of social media. They see the large and expensive houses of their favorite streamers and they think they can have the same, without starting at the bottom.

The way to get to the top, is to start from the bottom. You start with a single room..  sell that and buy something bigger... then sell that and buy something even bigger than that... until you can afford to buy that dream house. By that time your salary might have increased enough for you to afford the rates and taxes.  8) ;D

Good point. Technological progress opened up new opportunities for workers too. It's mostly illegal in one or the other jurisdiction and subject to (tax) paperwork overload yet relatively easy to get away with.

True. Most people will not afford a house (irrespectively of generation) - that's the fact of life.

Are you able to tell when the future comes and how to get there? Going to university, getting a job, mortgage and married is not enough it seems.

While I understand that misuse of money is spoils a plan to afford a house, I think that there aren't opportunities of investing in real estate at younger age (little savings, impossible to buy 1/10 of a house). Could you suggest any, please??


Agree altough regulators go in the opposite direction as far as I can see.

For some reason the "until they can have their own house" rarely happens even after the age of 40.

The point was that it used to take orders of magnitude less effort to obtain licences, permits etc. For example, there wasn't theory test to obtain driving license. Not to mention differences in building regulations. As a result, gen Z may spend more time applying for licences, permits, education etc. than working and earning.

I accept that argument yet disagree with the causation below.
There are countless people doint pretty well today despite having not completed their studies, crafter their skills and so on. As a matter of fact, there are a lot of them who can't use computer, smartphone (except for taking pictures), aircon, beamer, screwdriver etc. Rent-seekers sitting on pile of legal titles to real estate, healthcare, pensions, education, housing, trademarks, business licenses (concessions, anit-competition protection schemes, charters defining privileges, monopoly) etc.

"Couples going through their first divorce are around the age of 30. Married couples between the ages of 20 to 25 are 60% likely to get a divorce" https://divorce.com/blog/divorce-statistics/

Diveroce phenomenon and avoidance of marriage is too significant to be overlooked.

The affordability of houses for young people is a complex issue influenced by various factors such as economic conditions, housing policies & personal financial situations. It is tough to predict the future with certainty, there are potential solutions that can help improve affordability like government initiatives, increased housing supply & innovative financing options. By addressing these challenges collectively it’s possible to create a future where young people have more opportunities to afford a house.

This pic is the inflation chart.

Inflation is the expansion of the money supply and this chart reflects exactly that.

The more they print the more expensive everything gets.

If you want to fight this crap, buy the stuff which has limited supply and people will always need. Real estate, commodities, land... According to this chart, as long as you hold USD, you will be the sucker in the long term. In the short term, things may look a bit different since it is expensive to borrow money right now but sooner or later the FED will go dovish again.

In my previous post I said "avoid buying a house" mainly because of the high interest rates. If you have the cash, now is the time to get rid of it.

I haven't seen anyone post the table that is made by OP,


So here it is,
https://www.talkimg.com/images/2023/12/27/IcShw.png

First thing first actually on the 80's people many people's are already going to the Universities, and there are a lot of jobs that are also required better degree or certification, just like nowadays there are many jobs that are also has lower entry point. The only different is the Real Estate price, people are hoarding houses, while the land area is not growing the population has growth and it's crowded together in certain area, this was utilized by housing speculators to hoard houses in the area and increasing the housing market price.

Now the question wether later generation could afford a house is depends on wether they want to buy a house far away from big city, that has cheaper price?

This actually depends on what type of country we are in whether first world country or third world country because lifestyle and the way of living in these categories differ regardless of ages and generations. I find it biased when we look at the chart IMO.

I think a house is the same as real estate. And we know real estate right? Yes, it is a kind of investment. Whether you are planning to re-sell it soon, or have a space for rent, etc..., you name it. Not just house but even other things, like car, and mobile phones can be an asset too, as long as we know how to use them properly.

Paying mortgages has a duration (you already said it) so I won't say that we will get trapped because being trapped means endless. Making money and ways to make money sounds the same, so both are not easy. We can't tell what can happen in the future, so I won't set an exact date if when will I think experience to be wealthy.

And that's a sign of how tough life is today and that's true that even with that age, it's hard to get their own house in the city and even on the rural areas, there's the hardship that can seen on today's generation. The mortgage and its interest are quite high and increasingly based on the government's response to the economical situation of a country.

Regardless of where you live, the houses and real estate prices have increased for most of the countries. And someone can barely afford it and while there are economical situations for everyone, the sellers of these properties are also taking advantage of it as they increase the prices way out of the srp.

From the link you posted, I can see some other proposed statistics for the US. From this huge percentage, isn’t a majority of the percentage from the US? There are countries that if you check their statistics, what you will find is very very low compared to what the US divorce rate is. So, you have to factor that in too because we’re talking about Gen Z from the world at large and not just the ones from the US. I even checked again and Many of the information about divorce on that site is centered around the US. You can use just them to make a judgment.

I believe that affording a house could always be "easy" depending on how you approach the subject. Many people think that buying a house that you can live in is the way that you should start, and that's absolutely not the way you should start.

Starting up with a real estate business means you should start where you can afford, it could literally be a land that you have absolutely no house on, just pure land, if that's what you can afford. From there, you just put a small tiny shitty prefabricated tiny house, and sell that, then buy another and do it again, if you keep doing this again, you could buy a bit of a bigger land and put a few in instead of one, and then you could get a terrible home at a bad to mid level place, and renovate it and sell it. Going this way consistently will get you a great house, if houses are expensive, be on the owner side, not the buyer side.

what you say is true, the needs of people in the past and the current generation are very different. Besides that, with the increasingly dense population in big cities, in my opinion we have to start accepting the situation of expensive land prices and change our mindset towards wanting to live in an apartment or flat. Like residents of big cities in other parts of the world.

I am a millennial generation who is still single and decided to rent because I have no plans to stay in the city I live in now for the long term. Many people told me and even belittled me because I didn't have my own house, but I kept quiet. because I am more interested in investing for the future and setting short and medium term financial goals. Because I think that a house is not a liquid type of investment (easy to pay out), the buying and selling process may take years. The money to buy a house can be allocated to buying bitcoin for future financial goals.

Yes, it's true what you said, many of the younger generation with just enough salaries have bought houses. If I look at it, it's a bit of a force to take it so that it looks successful to other people's eyes. In my opinion, KPR is a bit of a trap, in the first and second year the developer gives it a stable amount every month, but in year 3 until the end of the mortgage you will get floating interest, in fact the interest increase is much bigger than the salary.

I personally prefer to rent a house, because going to the office is a bit closer and more economical or efficient. Compared to buying a house that is far from the office, and investing the remaining money every month little by little, for me the investment is much more valuable for the future. If we choose the right investment in the crypto industry, especially since next year will enter a bullish phase, of course we can buy a house much faster than the mortgage.

X, Y, Z? Well, those terms really do exist :D,

Generation X is more confident and exert what he has by trying as much as possible, if the wage at the time of 1980 was relatively small but could build a house with good confidence, many opportunities, however people have the mindset of ancient times to choose materials to minimize the budget, because of the principle of building fast and the rest to live luxuriously and enjoy the results of work with family.

Generation Z where there are many financial solutions including banks that finance installments of finished houses, as well as prestigious facilities, according to specifications and prices. take the easiest way, if compared to opportunities it may be the same, but the current period where full installments of goods or media with a period of decades, can imagine how much mortgage interest for decades ::) and yes different lifestyles.

As long as it is used for property assets to live in, of course it still has a positive side and passive income one day, in terms of function it is very useful, especially if it is strategic. Whatever the way is good, but if it's in my condition, I will choose with a time that is not too long so that it will be paid off soon ;D because anyone is not always productive at work, there are times when he starts a business, during that phase it is better if he is not burdened with installments.

I can see that a house is a liability and not an investment unless we look for tenants to rent on it. Though having a house is good but we should prioritize investments that gives us return of investment. As of the moment I don't even have my own house because the house I built way back 2017 was still not finished until now due to lack of funds but I have a piece of agricultural and residential land on me enherited from my late father and aunt. Though I spend $0 on it but still it is for me the best gift they left and I have to think the make best plans for it.

Though I agree with the table but not applicable to all in each group, have to believe you used 80/20 ratio rule to arrived at this, which is fair. In the 80's, things are a little bit better than now as you can easily get a job that will set you up for the rest of your life compare to 2023. Even people in business find it easy because market were not saturated then

It actually varies per person's situation. Before, I don't understand why people prefer to rent than to own a house. Until I realize about work related matters, the convenience of moving from one place to another and the maintenance of the house is easier and not costing that much for the renter. Definitely one reason why someone is moving to rent is because the office or job is near and also the other necessities like hospital, groceries, etc. All of those stuff are important for someone to rent. And most of the rental properties are in the cities or areas where there's much foot traffic. Many people think that buying a house is a liability because of the mortgage that you're going to pay for so many years. They've got a point but you have to understand as well that you're not going to work forever so, if you are able to purchase a house and able to pay mortgage do it and if you're fortunate enough, do it with cash.

It's going to take time but it's a good decision to distribute your profit from this space into your own house or even a rental property of your own.

I can say that the older generation has better opportunities than the current generation X and Z, especially when it comes to buying a house. In the past, land prices were relatively lower, taxes were not too high, prices of building materials were lower, and living necessities were cheaper. They also don't support their parents, they only focus on their lives. Meanwhile, nowadays many generations X and Z have low incomes, higher living needs, high land prices and taxes, and do not get support from their parents/they bear their parents' expenses. Things like this make generations X and Z have a lower chance of buying a house, and in the end most of them choose to just rent a place to live or buy a much cheaper house on the outskirts of town.

Phenomen of concentration may also impact the situation. In the past wider variety of land, area, accomodation were deemed suitable. Nowadays, more and more people live in cities and oftentimes can't live further away from them. As a result, demand for housing in limited area grows and vast majority of area outside of cities don't even enter the supply (from a buyer perspective). What are the factors that force Gen Z to live in cities or high price areas?

This has become a serious problem for those who were even born in 1990++, the basis for things like this happening is because of the incredibly fast growth of social media (lucky for those who were alive and successful before social media hit lol), young generation are more concerned with fashion - expensive smartphones - expensive vehicles than investing and buying a house.
However, to successfully buy a house in this era, in my opinion, it is quite difficult, house prices in many areas have really increased, I have also gone through it myself, and paying off a house in installments is something that must be done, especially for the younger generation whose parents don't have lots money.

If Gen X mentors Gen Z in navigating the ethical landscapes of technology, while Gen Z shows Gen X the power of inclusivity and global citizenship. They can learn from each other's strengths, bridge the digital divide, and build a future where progress isn't about leaving anything behind, but about carrying the collective wisdom of generations forward.

So, let's move beyond generational comparisons and embrace the unique tapestry that each era weaves. In the grand scheme of things, the "better" generation isn't the one with the fanciest gadgets or the fastest internet speed. It's the one that learns from the past, embraces the present, and works together to shape a future where every thread, from every generation, shines brightly.

RV can be a thing in worm climate, but try living in it when it's cold outside. You need a good heat sorce to stay warm and RV is really problematic when it comes to that, since you either need to run your engine (which you're not allowed to do in some places), or have a gas heater running, but then you need to have good ventilation, or at least keep one window open to vent fumes and condensation. You can also run an electric heater, but for that you need to connect to the grid. Also, RV will never be comfortable since a small one won't even have a real bathroom. You want to shit in a bucket every day, go ahead.

Among the people I know inheriting a house is the only way you can get it. I know people who built their houses, but they had free land given to them by their families, or they renovated an old house left by their grandparents. I don't know a single person in  their 30s or younger who was able to get a house on their own in their own.

how can you possibly say something that is not based on data like this!  In the 80s, people's purchasing power was still weak, even to do marketing, they had to use a lot of money because marketing in the 80s was not as easy as it is today, which can only be done on social media.  More people who lived in the 80s sold basic necessities rather than doing property business or buying land, but nowadays property business prices are no longer affordable, this is happening in all countries in the world.  Currently, only those who have a large salary or come from rich families can own a house, while those born into poor families and only earn a small salary ^{(even old people)} cannot own a house.

Average people usually dreams of having their own house when they grow up or when they become successful. But in reality, not everyone who dreamt of owning a house, can actually afford it nor was able to buy their house ever after they reached mid adult age.

But to answer the question, they can but not for everyone. If they have greater opportunity, even if it becomes more expensive in owning a house, they can still have their own house. Of course we're all aware that real property is becoming more expensive nowadays, especially comparing it back in '90s or '80s. But younger generation can still buy their own house— depending on one's opportunity and their current status.

Is this one of those trailer park types or the nomad one's because if this is the nomad kind of RV living then I gotta say that I agree with you, you're living the best life because you're traveling while not worried too much about a roof over your head but one thing to keep in mind when it comes to RV living is you have to be serious about your security if you're living alone and at the same time, it's not a permanent thing in my opinion because you need some place to stay that you can call yours. My take in all of this is that you do RV until the real estate bubble pops and then buy a house.

Yes, it makes sense, the past and present times are very different, so previous generations found it easy to buy a house or something else because in the past the price was still cheap and the needs were not as much as they are now. I am also sometimes confused about why Gen Z likes to be labeled negatively, to the point that every negative thing is always associated with Gen Z. Also why "old" people or those who feel they are not Gen Z like to glorify their era and tend to reject current developments and get caught up in past romance.

They only see the conveniences that exist today, but they forget that in every era the challenges and difficulties are different, for example in the past our parents/grandparents had to walk or ride bicycles everywhere because of the lack of transportation and limited transportation. . economy, now transportation is easy to reach wherever you want, no need to be afraid of getting tired. However, they forget that currently there are challenges that did not exist at that time, for example the rich used to buy houses, in the past land was still cheap, materials were still cheap, and in the past people had a high spirit of mutual cooperation. cooperation so that building a house is not a big problem for them, currently the salary is low. the need for a lot of land and property prices are unreasonable. That's just one example, there are many other problems that are actually more complicated at the moment.

sounds logical but might be hard to pull off finding the buyer would be hard, even finding buyer for a land thats good enough is already hard but for those that so eager to afford housing with small capital this side hustle might be worth it even more so for those that don't really have high paying jobs, it does make sense to keep reselling something at higher price by simply decorating it.
but in my opinion isn't the money better spent on investing in a more lucrative market where there are many potential like cryptocurrency market?
had anyone put their saving into investing in bitcoin it has doubled, of course there is risk involved but honestly if its bitcoin im sure even if its bearish market you can just wait until the trend change and thats it you will eventually profit.
moreover it also doesn't waste as much time you can also focus on growing your career instead since after all doing the thing you mentioned gonna be exhausting to be honest.

It is undeniable that houses are becoming less affordable but this should not be a surprise to anyone, wages have not grown in decades, while real estate, college, cars and anything that is often considered to be a part of what an adult should have achieved already have increased in price faster than inflation.

So now the average person cannot really afford to buy most of those things anymore and they will have to find a way to get by without them, which is not as hard as it sounds if you know how to administer your money and you are willing to invest and hold those assets for a long time.

These two generations are different because when it comes to technology that has developed, they both have different points of view. Gen Z is known to be quite shrewd and understands technology because there are actually many opportunities to make money in technology now. There are many young people who have succeeded in buying houses by utilizing technology and there are also many young people who have succeeded in developing businesses which are quite developed at this time. It depends on how young people can see the opportunities available to earn money and when young people are creative then I am sure this will be much easier.

I am not trying to compare today's young generation with other generations as you said. But what I understand is that humans have the same opportunity, but it depends on how they can take advantage of it. The ratio of building a house in the absence of money is very difficult because the costs required are quite large and the younger generation must be able to prepare themselves for it.

Starting with what one can afford (land or a modest property) is prudent. Sound investing requires gradual asset acquisition growth, which this technique emphasizes. We must also evaluate the financial ramifications of such investments. Is this method taking interest, property taxes, and maintenance into account? These are essential for real estate investing profitability.

While focusing on incremental growth, market research and location analysis are crucial. Even a poor home might appreciate immensely in the right location. Renovations and flips take time and effort. Financial competence, market knowledge, and patience are needed. With these in mind, real estate scaling can be profitable.

The short answer is because internet access is easy, which can be used to earn greater income than using more land in remote villages where internet signals are usually difficult to reach. So that is what causes the Gen Z generation to choose to move to the city or buy a house in the city so that they can support their work and activities in earning a better income. So it is no longer surprising that this has happened in several regions for certain reasons, even though the aim is easy access to markets and the internet which has always been used by many groups for their respective income targets.

So far internet access has also reached remote villages, although it is not yet comprehensive and the problem is that the younger generation does not dare to leave their comfort zone because it could make them lose the opportunity to try something new. In fact, there are many young village people who leave to migrate to the city, but most of them work as unskilled laborers, so it is still quite difficult for them to raise money to buy a house.

The development of the times has given rise to many jobs in the technology sector and the internet also provides access for young people to achieve their dreams. But as long as young people do not dare to take risks and leave their comfort zone, the opportunity to improve poverty equality will be much more difficult.

I dont know, but when it was early days it was still difficult to manage the life. We cant have comparison between the two timelines because for every timeline the wages and cost per capita is decided during that fiscal year. The market prices, industrialisation, wagering requirements everything changes as per the income of nation. I am not an expert in the economics field but we know very well that inflation is something that always play role. So someone who bought the house early 19 is just getting rid off the loans or mortgages but they are old now or possibly gone. Look at the inflation for them right now?? In similar ways we will have same condition after 30 years from now or 40 years. Nothing adds up for me from that excel due to above differences.

Economic conditions are not normal now so it is very difficult to dream of building a house and planning accordingly. If earlier it was possible to run the family expenses for a month with 100 dollars, now it takes 200 dollars to buy the same amount of things for family maintenance. Our family expenses have increased and the price of every item has increased but only our income has not increased. The amount of income that used to be earned from that amount of income can certainly be saved by spending some money on family expenses, but nowadays it is very difficult for a middle-class employee to build a house when all his money goes to spend on his family expenses.

I believe that if you want it, you can get it as long as you work hard and persevere. Even if the prices will increase a lot now, there are still many opportunities out there, you just have to act and grab all those opportunities. There is so much to earn these days. Technology is a great help, you just have to follow the trend.

Choosing to live in the city can indeed affect their finances, especially for Gen Z, they prefer to live in the city, taking advantage of existing facilities, getting a job with a decent wage compared to living in the countryside.  However, there are still many Gen Z people who do not have their own house in urban areas because house prices in urban areas are clearly much more expensive than in villages

And this is another reason why working form home has become more popular during the previous years, with the salary people are being paid on their jobs they cannot afford to rent an apartment that is close to their jobs, so they either accept to commute for hours or work from their home.

And working from home has the advantage that you could work for a company that is hundreds of miles away without moving out, so since distance is not a problem anymore, you could keep living where you currently reside or pick a cheap place to live and reduce your expenses this way.

the price of rent didn't help either its increasing so high that its ridiculous we're basically spending 60% just to rent a space where we can sleep, ridiculous honestly the government should be taking care of these thing maybe by limiting real estate or property ownership for each and give progressive tax because its definitely a problem that cause people to not be able to own house because its being hoarded by some rich boomers.
if such thing is regulated, then we can be sure that the property will not decrease in price but at least it will not rise as faster as it is right now giving people time to save up for the sake of owning some housing.
otherwise if the land and housing price keep increasing like this added with the fact that lately inflaction has been crazy its definitely impossible for newer generation that start from scratch to own house, only a fleeting dream.

I understand - rent is out of control. Personally, I find it baffling how rent eats up such a huge chunk of our income! Like a marathon, the finish line continues sliding away. Capping real estate ownership sounds like a good idea, but isn't it complicated? Consider the broader economic effects. Limiting property ownership may discourage home investment, reducing supply

I support progressive taxation. Does it seem fair? But implementation is important. How do we define "rich boomers"? What's the threshold? Oversimplifying varied property owners is risky. The big picture comprises firms, international investors, and individuals. This game also has inflation as a wild card. It makes things harder for younger buyers looking to buy a home. Not only dreaming of a house, but developing a fair system to make it possible

i think it depends on the country, because in my own country, the government here gives relief to young people to be able to buy a house with installments of up to 20 years with the expectation that more young people will be able to get access to decent housing and there will be more areas that will develop after being inhabited.

however, the problem is that the houses that are usually offered are in suburban areas and not all young people want to live there, especially if they work in the city center and have to drive for hours to their house just to sleep.

so this is a dilemma for many young people here, and i think also globally, because they are faced with buying their own house in the suburbs or renting in the city center close to their office.

This all depends on where you live. And I personally am a person who lives in a village far from the city center, but because of education and work, I decided to live in the city. For me personally, building a house in the countryside might not be too difficult, considering that the price of land is very cheap and I can take the building materials directly from nature. However, due to work demands, I chose to live in the city in a small apartment. Because if I had to build a house in the city, right now I don't feel like I can afford it. So let alone being able to collect building materials, buying a plot of land is quite difficult, because the price is quite expensive.

There are many things that must be prepared to be able to buy a house on credit and I think paying off a house in installments for 20 years is not an option that can be taken if you cannot have a fixed income, even if we have a fixed income it would be better to save the income we have and invest to be able to get the dream house we want.

Yes, not everyone chooses a house that is far from where they work, because it will be very tiring for them if they have to go to work for a long time. Of course it is very tiring if they choose a house that is far from their place of work. I think it's better for us to stay rent a house close to where we work and save the income we have and also invest part of the income we have.

Yes, we don't have to focus on buying a house even though we have a fixed income, but we must prioritize saving for various unpredictable future needs. However, I have looked for information on social media and there are many house builders who offer housing with no down payment and low interest to have a dream home, I think this option should be considered because we cannot possibly stay in a rental house forever and house prices will increase every year

I don't think it's that simple, the main problem is, why is it difficult for Gen Z to buy a house or land which is currently expensive? Indeed, the difference between buying a house in a village and in a city is different because of its strategic location. However, the main problem currently is that currently houses are used as an investment tool, so many rich people buy houses but in the end don't live in them because they are only for investment, making it difficult for generation Z to get a house. Every country must follow the example of Gen Z in Germany, especially Berlin. There are protests from generation Z because house and land prices are too expensive, as well as inflation which is getting higher every year and is not balanced by an increase in workers' wages. Finally there was a demonstration and a lawsuit was lost against the developer who sold houses and land at too high a price.

Having savings is indeed very important to be able to guarantee the needs we need in the future, but if we decide to buy a house without a down payment and have low interest, of course we have to think carefully so that when we are moving the house we are going to live in has a lot of problems. , in my opinion, with all the conveniences provided by house developers, I don't think the buildings being built have materials that can last for a long time and it is impossible for them to offer convenience with the little profit they get.

Since the majority of what you said is true, I already have a lot to say after reading this. The natural features of a location will determine how much it will cost to build a house from the ground up. In the city, land is more costly, and if you look at it, you will spend more money there because there are more bills and building codes to follow, making it impossible to cut corners when building. The problem is that employment and education make it impossible to completely escape cities, and any money you make is still retained in the city.

The price of building materials has continued to rise as a result of people's failure to consider alternate alternatives. The problem now, though, is that if circumstances get worse, people will be forced to return to the villages. It's also preferable to live in a modest apartment while working to avoid having to pay extra for housing because you won't have enough money to purchase a home. Although the property may be inexpensive in some areas of the city, the building materials will now be the problem.

We may not know all the types of materials used to build a house because cheap prices without a down payment and low interest may not be realistic to guarantee that the house will last long, so make sure you buy a house from a trusted house developer and make sure the house developer never includes in the blacklist of customers who have ever bought a house from their company, I think a house developer who is certified in house building will not damage their reputation by selling cheap houses and using house building materials that do not meet the standard tools for building houses, but some companies or house developers Irresponsible people will do anything to gain profits that are detrimental to buyers.

its always easier to build house at the countryside but the expenses of being too far from the city basically also means being too far from the general facilities should also be accounted.
after all, we need to drive probably an hour to a city thats already wasting some money for gas, but overall for those that are thinking that they couldn't afford house in city and just want some countryside vibe when they are retiring its definitely solid plan.
even more so if we could buy a large plot of land for the sake of doing some farming and so on when we are old, we could pretty much utilize the technology of AI for agriculture in few years anyway.

In 2024 it's very difficult to own a house, I accept that. But people in this forum between 18-40 years old can own a house. Anyone who embraces Bitcoin, invests in it regularly and manages to protect those regular investments will earn enough money to own a house before they retire, I'm sure of it. Someone who works in a normal job and doesn't invest at all cannot naturally own a house. Those times are in the past. 50 years ago, houses were really affordable with a standard salary and a loan, but the world is not like that anymore.

Yea, the thing is if say you have 1 BTC and by the time it appreciates so much to worth a house, maybe you don't want that house anymore.

The opportunity cost is financial freedom for the rest of your life

Management is the main part of how to allocate finances in a gradual and stable manner. I agree with your words. but many people now want to build a house without using management, most of them now get a good location from all access but don't look at the financial contents that they have, which sometimes hinders the process.

If a person can manage their activities according to the finances then he can settle his life well but if management system is not well settled then there will be hurdles in all the process of life.

If one wants to build a house then it is not easy that without management of money he will do this. For each and everything one should make a plan because without planning it become difficult to achieve all the necessities in life.

Great table and comparison but Gen X and Gen Z have different opportunities, duties during same age. Whole life is different, much complicated. We have so many thing we want right now, that they distract greatly from buying that house. For example if we give up on latest mobile phone, TV, smart watch, tablet, notebook, car (at least first payment), all those unnecessary expenses (like daily coffee at Starbucks. Seriously, why pay $10 for a coffee, when it cost $1 to make same at home), we would save on first house payment easily. Instead, economy produce more and more (because there is a demand), people buy more and more, postponing major life purchase till end of the life.

In this day and age, everything is getting more and more complicated, especially if we don't have an awareness of the hall of things that are closely related to life. Management is one of the basics that we must have so that we are always on the right track when living life, because once we deviate in doing something that is out of the guidelines then we will find it easier to realize it and return to the right path.
I actually believe that everyone will definitely have a plan in their head, but the problem that happens is when executing the plan, sometimes we have moved before the plan is really well organized.

The gap has definitely widened, compared to what our parents and grandparents were able to purchase. It now costs many more multiples of salary to afford a home. Add to that there are lots of companies out there who are snapping up any properties they can with the idea that they can rent them out. High interest rates have actually caused a pause and slight reversal in this - forcing some landlords to sell up with interest rates so high that they had not factored in, plus an inability to raise rents in some circumstances. What we need is salaries to catch up a bit more and the gap to close, but home owners were always the more responsible parts of society. Anyone faces a lot of pain when saving for a deposit and some people are not willing to accept that reality.

Exactly, and the point is that having management in any case, especially finances, is really recommended, this will really be useful for minimizing expenses that are not actually needed except for some unexpected events such as maybe needing costs for treatment due to illness, but I think this cannot be made a full excuse because people who really have good management, of course they have good planning also in terms of their finances such as preparing savings for emergency funds, having good management and planning on finances will certainly make it easier for someone to achieve balance in any case and one of them is in dividing the allocation of money to build or buy a house.

There are two things that can enable people to have the house they want, the first thing is to have a clear plan and be disciplined about that plan, remembering that of course there will be our desires which must be managed well, because the longer the price of building materials becomes more expensive, the more expensive we will be. You can pay in installments to buy building materials according to the savings you have accumulated, of course you must already have a calculation plan for the house you will build later. and secondly, from investment, such as cryptocurrency, we get a fortune in an instant so that the money is enough to build or buy a house

Good management is needed for someone to be able to own a house, People who are successful in building a house never happen by chance, they use the best and wisest methods to be able to collect money little by little and finally succeed in building a house. Currently, there are many TikTok, YouTube, Instagram content creators who have successfully built their dream home and all of them are mostly young people under 30 years old, they must be able to take advantage of all the opportunities that exist and being a content creator is currently a promising profession.

Those youngsters are quite smart as they are taking advantage of the internet or social media for them to earn money. Plus they even hire someone to manage their stuff so when it comes to money, someone who's experienced can handle all of their finance, schedules, etc. That's what I observed from some content creators or streamers, they are most likely to succeed if they can manage their finances cause there are still cases of being famous but having no savings and investment cause for sure popularity would eventually fade in just time. This kind of profession is also hard as well especially if you started with zero followers so it wouldn't be surprising for them able to buy a house at a young age.

Good management is not enough to fulfil such an achievement as a house. A lot of young people right now dont have life goal at all, compared to people of older generation. If we ask a young man what he wants to do or achieve in his life, he would most likely answer that he does not know it. Younger generation lives more relaxed life. They have little to prove to society. I wont way that they are lazy, but they dont have long term plans. If we speak exactly about the house, then some people think that they would rent now, but with time, parents will leave them their house, so there is no use working hard and buying own.

The development of the times is so fast and progress has now almost reached all corners of the world so that thought patterns and lifestyle changes have also changed. Generations Z and I see that some of this generation have also been able to achieve success by owning a house and a vehicle. They can do this because they have the will and determination to work and are able to take advantage of opportunities via the internet.

Then it's not just one field that they have to work in, the use of technology by doing traditional work also gives them the opportunity to achieve their life dreams. This means that life will not fail if they always instill the will to work in themselves without expecting an inheritance from their parents. In fact, I don't agree that young people can only relax because they see their parents have sufficient wealth, but a great young person is one who has the ideas and thoughts to continue working for his own future.

management targets with rules that we consistently hope will all find bright spots that will happen to us, character growth, only we can choose positive patterns of our thinking power if we want to live a better life. I don't do it carelessly, I always have a target that I want so that life has more meaning. management is the main key

I did not say "only relax", I've said "live more relaxed life". That is a big difference. Formed generation were more hardworking, aimed to on a result. Current - you have mentioned progress - their life is more simplified. That employs. There is always a technology, a helper that makes their life easier. And that makes them lazy, makes them postpone things for next time. They always wait for someone or something, that will change their life and gives them a free house or they will get that house without putting much effort to get it.

Buying a house nowadays is indeed difficult, especially for generation Z because property is now also a promising investment, making many people invest in house property which ultimately makes it difficult for generation Z to get a house at a cheap price.

There are several steps that Gen Z must take to achieve their goals. If you don't own a home yet, try as much as possible to reduce lifestyle expenses (car, fancy clothes, etc.). It's better to save money or invest in crypto. If you are a wasteful person, you cannot save. Forced to save using a savings plan, where every month we automatically buy Bitcoin, we automatically do DCA for future assets. That way, when our assets grow into greater profits, you can easily buy a house. Because in this way buying a house becomes easier apart from mortgage credit.

Student loans, personal loans, housing loans, what other loans people are going to take? I want to have my own house but it shouldn't be grand and cozy. As long as I can live under its roof and there's a strong wall that can protect me in most seasons, together with family to keep memories while I am living in this world, that would be more than enough. I have my dream house as well but not to be pessimistic but accepting reality isn't going to hurt me that it may take forever until I get that.

In the past, housing was totally cheap and everyone can afford it because things were not as expensive as they are today. And programmes from the government were helping each other to own their houses and lots. This time, it's different, down payments can attract you but when it's come to the mortgage, you'll have to think twice because if you're not a hardworking guy then you're going to think of it again. While there's a new thing that many are seeing and ideal for the first world countries about living on the van and going on with adventures for a van life experience, some may just choose to get with that for very the same reason that apartments are expensive and so as the rents.

everyone right now is also expecting to have a house that is not too grand but safe enough but the reality is that even these house are pricey as heck, there's reason why many people saying housing is unaffordable if we can still afford small house its still good enough but nowadays even small house cost so much thats why young people across the world are complaining.
also considering the fact that such phenomenon are happening across the world, its mainly I guess because the population that always grow where habitable lands are staying in number, meanwhile there's tendencies that the successful old people that has been born ahead of us always trying to hoard all those real estate and housing for the sake of investment it just make things difficult.
the solution to this though, government should endorse affordable housing like maybe building more and more few stories building as an apartment and also limit the ownership of properties that should be viable solution in the long run tbh.

That's true, even for a small piece of land and with a house in it, the cost is too much and expensive. Well, this is the reason why the rich are getting richer because they're investing in the assets like this that keeps on appreciating and we have to put that on the line that it's because land is scarce and they're limited. And there is only one way that it is going to cost and that's going to be up, no other way.

Yes, population is growing and those cities that have been flocked by workers and people and becomes a center will usually have to appreciate their prices, rents and mortgages. And that's going to cause a lot of domino to the price of real estate there. I can't blame the old folks that was once did a lot of wise decisions in the past for investing into real estate. They're just going to harvest all of the efforts that they've done before and it's worth it investment for them. Although most of us want to venture into real estate, many just can't because of how complicated it is to get in and the requirement for the capital stops many.

this one is a concern but we should all know that if we truly want something like house we would refrain from wasting money. the thing is that some of the new generation these days can't just hold on buying some fancy thing, talking frankly quite literally every youngsters these days buys nike jordan or something thats just expensive don't know whether its worth it or not if compared with cheaper option out there.
i've personally got some friend that still live in rent but hoard those sneakers and own about 20 of them and they are all big brand like nike adidas and so on with really high price tag.
make me wonder whether some people are just not cut it to buy house these days.
even though its true that we got much more distraction these days due to so many thing like latest flagship phone and so on, but i think we also should realize that its just some optional thing, to be fair, old phone are still functional as new these days, like old iphone 11 if compared with newest iphone 15 its just as functional, maybe some small gap in performance but the price is already half if not a third of what the newest phone costs.

This condition is real and generation Z on average does not have a good source of employment so making the decision to buy a house is very difficult. To build a dream house requires sufficient capital preparation, otherwise the house being built will be neglected and unable to be worked on until completion. We have a term for working when we are young to save or buy gold, the aim is as a preparatory step for building a house and this condition has been practiced for a long time in my family before each of them gets married.

Generation Z has evolved and most of them work much more easily in the fields of computerization, technology and trading. This, if utilized properly, will make it easier for them to build a house. But it also really depends on how generation Z can see opportunities in this sector because if they don't do anything then they still won't be able to buy a house.

Those pricey footwear seem fantastic, but do they provide shelter? Nope! Short-term desires override long-term needs. Don't even mention brand addiction. Nike and Adidas are great names, yet they're only shoes. A house, though, is an investment

iPhone 11 vs. iPhone 15; They both talk, text, and shoot pictures. Why is the current model so important? Same story - sacrificing financial ambitions for temporary pleasures. We need to think smarter about our future, not just our wallets. A wise guy observed, "It's not about how much you earn, but how much you keep." Don't overlook financial stability in the quest to buy the latest and greatest

these are definitely the thing that might cause some of the newer generation to be entangled in some debt with this unhealthy lifestyle of being overly consumptive will definitely hurt in the long run if not in the short term, I mean some people might consider these as "investment" for the sake of improving quality of life just because they wear some big brand they would have some position in the society, but then again thing like these come with costs and yes like as you said, these things are definitely
not gonna help in fulfilling our basic needs, we can be owning a thousand of these shoes and we still can be lacking in the basic need if we don't properly manage the money that we earned.
functional over aesthethic in my opinion is important in this regard to there's nothing wrong to be aesthethic as long as it doesn't drain our wallet of money because after all with these big brand, they could be selling some random thing and it will be overpriced so definitely don't get too attached with these big brand if we want to establish our economy for the better.

Do any of y'all work alongside any Gen Zers?

If you do the answer is simple and writings on the wall.

No majority won't be able to afford a house based on work ethic alone.

I don't know if it was COVID or what but something ain't clicking there with these gen Z people.

They will be the first generation to embrace have nothing and be happy.

Materialistic items like phones and shoes are about as good as it's gonna get for for 90% of em.

They got to make $120k+ a year to even play the game.

If you say that management is the main key to making life more meaningful, I think that is still quite general because management still has to be placed in several important aspects of our personal lives. Close examples include time management, financial management, and also management in learning everything we need in life because some of the management that I said can also be used as an important key in living a better and more organized life.

Everyone can work well in a more consistent way when they are able to maintain their time and make better time management each month. Because every time spent working to make life more meaningful must be considered as basic capital which is very valuable, so there is a need for time management so that each of us does not waste time carelessly every day.

I agree, it's different on their era that they're not so thoughtful about achieving their dream houses. They've got a more and different approach on how they'll have their own happiness and goals on this time. While the housing have been rising the cost of it, they're just reverting their goal to other material things that they might find their own happiness. And speaking of them working, their work ethics is. It has become a hot topic recently.

In my opinion, Generation Z doesn't want to be complicated and uses any method of working that has instant results, for example buying luxury goods without thinking about the financial future. Even though many generation Z have large incomes, they don't care about investment, and sometimes even forget to have a house to live in later. From the experience I've seen, now I see that Gen Z is almost the same. Many teenagers and children of generation Z are preoccupied with popularity on social media such as TikTok, and social groups that fit identity criteria.

Honestly, they have to learn a minimalist lifestyle. Starting from self-control to spending. Buying something that doesn't really matter if you don't buy it. Every time they want to buy something that is not an emergency (sample, bag, shoes, etc.), they have to think twice about whether they really need to buy that item, whether there is something more important than that that they should buy. , for example their dream home. They have to be able to postpone something they don't need at that time, because the house always goes up every year.

I think in the worst case scenario where you don't have rich parents, or at least a house or apartment already in your family, it's going to be impossible to own one day a house. On top of that you already have student debt that are going to have to pay back in the next 10 years. Then you get married and have kids, costing a lot of money as well. There won't just be enough money to pay off a house. This is assuming both spouses are working in a normal job. The only real option I see in current times to become independent with your own property, is if both spouses have a really well playing job and delay having kids into their late 30s. Financing is not cheap anymore, buying a property now either requires a lot of equity or a long period of time to repay the loan. One more option would be to work together with your parents or grand parents. Among my friends where there is already a house in the family, the strategy is to make the house bigger. Adding another floor on top of the house is much cheaper than building a new one and then the parents can live together with their kids and grandkids in separate flats.

Today's children or what we call gen Z have a different way of living life, I agree with that. I see that most of them are concerned with their happiness for now and they prefer to buy something that they can show off to their friends when hanging out. Seeing the way they dress, seeing what they use is different from most generations before them. Actually I don't have a problem with that, because it is their full right we have no right to support or prohibit. But I hope they don't forget something that they shouldn't forget for the future. Because I don't know what they are doing behind their luxurious lives, they could be doing more than what we are doing.

The thing is, in this era, younger people or people of this age don't know the importance of securing their future. What I mean is, like houses, cars, or anything else that they could use for their future, and most importantly, financial. Nowadays, teenagers want to have luxurious smartphones or material things that are in demand; in short, they prioritise having those things that are trending so that they are not left out by the crowd.

They don't know the importance of securing their futures, as people are becoming more and more hype chasers or trend chasers. I know buying a house would be a challenge, but it's better to start building that dream than spend money on things that are not so useful or too expensive based on their functionality. For example, if you are practical, you will see that every iPhone has only a slight difference, and you are only buying the brand, not the new features of the phone.

In many cases, this is what it seems to the younger generation, they tend to spend their salaries following current trends, so there is very little chance of them being able to save their money or invest.
So if they predict into the future, it is almost certain that they will not be able to buy a house in the future if their mindset cannot be changed to be more advanced and think about the future without having to prioritize the trends that must be followed at this time.

But on the other hand, I also think that earning big money is a logical thing for the younger generation now, like investing in Crypto or other things, something that didn't exist in past generations.
So there are indeed differences in times and eras so we cannot claim or equate the previous generation and the current generation.

Of course, if they are diligent and work hard to organize a brighter future, they will definitely be enthusiastic about saving to buy a comfortable and peaceful residence, because when they have a house, the most important thing is comfort, so that their mind is calm and enthusiastic to strive for more. be active again, if they are really serious about saving, they will definitely be able to buy a house for themselves and their family to live in. Every person's work must have a benchmark, by saving on personal needs to save so that they can buy a house for their future residence. come.

Those who are diligent and work hard should be able to achieve what they want. Everyone will certainly think about how to have a place to live that is suitable for them to live in and is comfortable for themselves, because if they live in an environment that is comfortable for them then this will provides comfort to be able to rest after a day's work, because if we live in an uncomfortable environment we live in, of course we will find it very difficult to rest because the environment we live in is uncomfortable and it is very uncomfortable to rest.

A conducive living space is not just a physical necessity but also contributes significantly to one's overall well-being. A comfortable and suitable living space provides a sanctuary for rest after a day's hard work. There is connection between the effort we put into our work and the quality of life we can create for ourselves. A comfortable home becomes a haven where individuals can recharge, relax, and find solace.

The pursuit of personal goals, including securing a suitable living space, is often intertwined with the diligence and hard work individuals invest in their endeavors. It reflects a fundamental human desire for a balance between effort, achievement, and the quality of life we cultivate for ourselves. This is a fulfilling life that everyone's dreaming of.