Will they ever be able to afford a house?

[oktana]

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 . 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?

"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.

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.

[el kaka22]

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.

[Mame89]

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.

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.

[Gaza13]

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.

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.

[johnsaributua]

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

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 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.

[0t3p0t]

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.

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.

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.

[Call_Me_Guru]

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

[bhadz]

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.

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.

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.

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.

[retreat]

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.

[Greg Tonoski]

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?

[Renampun]

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

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.

[someone703]

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.

[darkangel11]

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.

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.

[macson]

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

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.

[demonica]

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.

[CODE200]

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.

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.

[puloweh555]

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.

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.

[poodle63]

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.

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.

[wxa7115]

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.

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.

[ancafe]

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?

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.