Will they ever be able to afford a house?

[slapper]

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.

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.

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[CageMabok]

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?

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.

[ancafe]

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.

[so98nn]

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.

[Patrol69]

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.

[Sanugarid]

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.

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.

[radjie]

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?

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.

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

[wxa7115]

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?

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.

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.

[poodle63]

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.

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.

[slapper]

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.

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

[moneystery]

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.

[Juse14]

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.

[Lantind]

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.

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.

[erep]

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

[ndutndut]

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?

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.

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.

[boty]

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

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.

[Baki202]

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.

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.

[erep]

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

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.

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.

[JeffBrad12]

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.

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.

[EFS]

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.