Housing is no longer a goal for the next generation

[Macro Exchange]

Housing prices keep rising, but wages haven’t kept up. For many young people, owning a home is no longer a realistic goal -  it’s becoming a luxury.

What used to be a natural part of adult life has turned into a debt trap or simply a fantasy. More and more young people are realizing that buying property under current conditions makes little financial sense.

We're witnessing a shift: instead of saving for a home, people are turning to alternative assets, remote lifestyles, or simply accepting long-term renting.

Is this the beginning of a structural economic change - or just another bubble waiting to pop?

[_act_]

People that I know still wish to become successful in life and build home. At least if it is not a big one, but they do not want to continue paying for rent, and which is very good.

House is still a goal but maybe where you are living is different from where I am living. People still want home of themselves in my country. Even people that are not rich still find all means to build their own house if possible they can do it.

[Fiatless]

House rent is also increasing in my country. And most people I know wish to own a house to avoid high rent. Since inflation is high in my country real estate could serve as a hedge. Owning your own house is not all about money, it's also about freedom and comfort. Some house owners could be difficult to deal with, so owning your own home gives you peace of mind and privacy. Lastly, houses are a highly regarded inheritance in my country, no wonder most parents want to own one or more

[Free Market Capitalist]

While we're on this forum it wouldn't hurt to remember that new generations would do well to pass on buying houses if they buy bitcoin instead. First because the price of houses in bitcoin terms has dropped exponentially and all indications are that this will continue to be the case. And secondly because the housing market has produced a bubble of people who put their money there as an investment to protect themselves from inflation, which is going to turn around as more and more people use bitcoin as a much better asset to protect themselves.

These are two facts related to the shift from analog to digital, and in the future bitcoin will absorb much of that bubble, which will make house prices fairer, because people will buy them just to live and not to speculate, while investor money and seeking reserve value will go to bitcoin.

[Stablexcoin]

Nothing come close to owning a basic shelter not renting, it is difficult to go homeless when you own a building, the more homeless people out there are those who paid rentals, by the time the money doesn't come as it used to and unable to pay up the rent, they will be forced to vacate the house, and it will extend to them selling properties.

In my country, if they don't build they buy and become the owner. Most people also exaggerate the kind of crib they want making them pay rent for life time while holding the thoughts, i also live in a country where the money gathered for 5 years of rent can equally build a comfortable house.

[Macro Exchange]

Nothing come close to owning a basic shelter not renting, it is difficult to go homeless when you own a building, the more homeless people out there are those who paid rentals, by the time the money doesn't come as it used to and unable to pay up the rent, they will be forced to vacate the house, and it will extend to them selling properties.

In my country, if they don't build they buy and become the owner. Most people also exaggerate the kind of crib they want making them pay rent for life time while holding the thoughts, i also live in a country where the money gathered for 5 years of rent can equally build a comfortable house.

That works where housing is still affordable. But in many places, even 15 years of rent won’t buy a basic home.

[Plaguedeath]

just another bubble waiting to pop?

Bubble to pop only happen in you live in country with shitty lifestyle as an average e.g. Japan.

Even the fertility rate is low, but if the country can pay high and the average people can have decent lifestyle, people from third world countries will move there and make the property price stagnant/rise.

We're witnessing a shift: instead of saving for a home, people are turning to alternative assets, remote lifestyles, or simply accepting long-term renting.

Nope, they choose long-term mortgages like 20 years.

What I know people who choose to turn their wealth to alternative assets are middle upper class, they actually can afford to buy house, but they see other assets are more promising and they can live for "free" because the return of their assets can cover their rent.

[Marvell1]

House is still a goal but maybe where you are living is different from where I am living. People still want home of themselves in my country. Even people that are not rich still find all means to build their own house if possible they can do it.

I believe that even though we live in different parts of the world, home is still a goal that everyone aspires to achieve. But the problem is that house and real estate prices are rising rapidly and becoming more expensive than ever, while people's lives are becoming more and more difficult. It makes them not dare to think about owning a house in the future, but if things get better, they will continue to aim for that goal.

A home has always been our goal and that desire only grows stronger as we grow up, get married and have children.


Many people say they don't like gold, real estate...and they only like bitcoin. But trust me, once they make huge profits from bitcoin, they will soon diversify into assets they previously despised. 
Gold and real estate are human assets, everyone wants to own them, and those who refuse only because they do not have much money.

[Natalim]

Building a house is just a dead investment, it’s better to just save up your funds for future assets and investments,  and create a passive income that will provide you sustainable profits. However, although a house isn’t a priority, but I believe it’s still a must to have your own even a simple one especially if you are a family man compared to continuously renting, except if that is a rent to own unit.

Housing is no longer a priority, but definitely its still a must for every family.

[Distinctin]

I cannot say it’s no longer a goal, it is and will always be. It’s just that due to high-cost budget, achieving that goal will most likely get delayed. And there’s no problem with that, if it means renting at the moment so you can save up for your dream house, then do it. Your goal, your plan and your choice of decision.

However, I must say, if you want to grow your money and maximize the opportunity to earn more, having a home first is certainly not the best option. Invest and re-invest, that works for successful individuals today, so there’s no reason it won’t work for the next generation.

[WillyAp]

Thanks to credo: Live your life to the max, don't build for the future.
Aimlessly walking from vacation to whatever is next.

[milewilda]

Housing prices keep rising, but wages haven’t kept up. For many young people, owning a home is no longer a realistic goal -  it’s becoming a luxury.

What used to be a natural part of adult life has turned into a debt trap or simply a fantasy. More and more young people are realizing that buying property under current conditions makes little financial sense.

We're witnessing a shift: instead of saving for a home, people are turning to alternative assets, remote lifestyles, or simply accepting long-term renting.

Is this the beginning of a structural economic change - or just another bubble waiting to pop?

If we do speak about practicality then it would be that ideal on having that long term rent rather than on paying up on mortgage with those expensive houses or even on subdivisions, and this one same goes when you are dealing or trying out to buy up with those condominiums on which are that actually that even more expensive. Here in our country on which theres that too much supply with those condominuims on which it do ends up that these businesses are that in oversupply and ending up on a negative investment into its investors or owners on which people do much rather prefer on building their own houses or they would be that make up some long term rent because this is much more cheaper rather than on going with these condo on which its that not ideal or practical at all. These business owners do think that people wont be able to make out some calculations and this one ends up on having that saturation and that do bring out that huge impact into their business. In regarding about those wages not that increasing then this what makes it shit on having this life that it do becomes even more tougher as years passing by. This is why it would be that recommended that you should be that trying out to look for another ways for you to have that income, because if you wont be taking up any actions then sooner or later you would be finding yourself having some hardship when it comes to financial.

[tsaroz]

Housing prices keep rising, but wages haven’t kept up. For many young people, owning a home is no longer a realistic goal -  it’s becoming a luxury.

What used to be a natural part of adult life has turned into a debt trap or simply a fantasy. More and more young people are realizing that buying property under current conditions makes little financial sense.

We're witnessing a shift: instead of saving for a home, people are turning to alternative assets, remote lifestyles, or simply accepting long-term renting.

Is this the beginning of a structural economic change - or just another bubble waiting to pop?

Urbanization is the reason for housing crisis. As more people want to move to tier 1 cities for more facilities and opportunities. But the housing crisis is not as severe at it used to be in smaller times. At times, people bought real estate as investment even in smaller towns but now the prices of towns are going down as there are not enough people. The people that are left too wants to move to tier 1 cities. If you have a remote job or want to do something that you could do without being in a tier 1 cities, you could just move to those town and live a better and with some labor, sustainable life.
With the ongoing demographic crisis in most countries, except for those which are letting in uncontrolled immigrants, the housing prices would start to fall even in tier 1 cities as there would be less people overall.

[cabron]

Must be the plans of the government too since they want the economy to run wild in the future where everyone will just be renting. Remember they want you to own nothing and be happy.

The only that might just have homes are the ones who inherited their parents house. So the next generation will all just be renting, probably base on how much they earn. Sad for the coming generation but thats how it might just be.

[Gozie51]

I guess Op is probably living in a country where there is high cost of living because of inflation but allow me to advise you. See, you don't have to lose hope. It is only the dead that doesn't have hope, if you are living then you have to be hopeful, survival is not easy anywhere even in countries that have better economy.

However, there are people that are still building their homes even in the country you are from. You have to work smart and understand how people are surviving there and to also meet up like them.

Again, I have realised that another solution to own your home is to relocate to a little bit remote area if you are living in a city. You can change location where life is cheaper and easier. There you can buy cheap land and start developing it, gradually you see yourself being a house owner. For example in the past like 10 years ago, I saw some remote areas where houses where built in low key but gradually those areas have metamorphosed to urban area. So you can also move to a remote area where you can start living life, cheap homogeneous setting.

Don't lose hope, even in difficult economy people are still buying big houses, cars and living large.

[Roseline492]

Housing is pretty much important both now and future because just like you said renting is becoming too high for people to afford and sometimes if we consider the amount someone is spending in ten years it could almost finished a new house if we measure the amount that's required, so actually people wouldn't want to be spending that much every year or month so getting there own home were they will not have to be paying rent will be there goal, having a house is not a liability because there are people who built there house in different section so that they can use the rest for business.

[Mrbluntzy]

Housing prices keep rising, but wages haven’t kept up. For many young people, owning a home is no longer a realistic goal -  it’s becoming a luxury.

We're witnessing a shift: instead of saving for a home, people are turning to alternative assets, remote lifestyles, or simply accepting long-term renting.

That the price of house keep rising is not a turn off for most people that have a dream to buy their own house, even if someone can not afford to get the kind of dream house they want, it is better to save an get a house that the person can at least afford to buy and know that they have owned the house for ever, even their kids can live in it after they grow and doesn't have money yet to buy their own house, It's better that way than live to be paying for rent all one's entire life. Imagine paying rent for a duration of 70 years, that's not what I want, honestly.

For some of us on this forum that are from a village where you can still get an affordable house, it better to grab one since it won't be as expensive as houses in the cities, you can pay rent in the city probably because you are working there and you can live a good life there but once you are old and have retired from your job, you can go back to your home town and live in your own house. That's what some middle class people do in my country, since they can't afford to buy a house in big cities, they try to build one in the village area and after they retire, they return home while their kids continue life in the city.

[Pablo-wood]

There are always alternatives to everything. Housing is only expensive when we start considering luxury and all. In today's world the cost of building material and lands might have skyrocketed but there are cheaper options. Everyone mustn't own a property in the main lands, there are rural areas yet to get full development, such places can also be considered when thinking of properties to buy or houses to build. Over there things could be much more cheaper and more economical compared to urban areas.

[Fortify]

Housing prices keep rising, but wages haven’t kept up. For many young people, owning a home is no longer a realistic goal -  it’s becoming a luxury.

What used to be a natural part of adult life has turned into a debt trap or simply a fantasy. More and more young people are realizing that buying property under current conditions makes little financial sense.

We're witnessing a shift: instead of saving for a home, people are turning to alternative assets, remote lifestyles, or simply accepting long-term renting.

Is this the beginning of a structural economic change - or just another bubble waiting to pop?

Houses have always seemed unaffordable and a distant dream for younger people. They have become incrementally harder to acquire through the generations but is still attainable for people on a reasonable salary, that are willing to make sacrifices in order to accrue a deposit. What I've noticed is many people claim to want a house but are incredibly materialistic and throw away hard earned money on convenience like eating out. I see plenty of people in their thirties who are getting on the housing ladder, but it may be harder in your 20's. Honestly, spend your 20's on experiences and treasure the flexibility that renting allows you to move around. The media likes to hype up everything that you've mentioned but I'm not actually sure how true any of it is for people that really have the dream to own a home.

[Samlucky O]

Housing is no longer a goal for the next generation

Housing is a goal for the next generation, I don't know of  your country, In my country people take housing so seriously that everyone want to have their own. Those who can't afford to build will rent, while those who can't rent will build.

Housing prices keep rising, but wages haven’t kept up. For many young people, owning a home is no longer a realistic goal -  it’s becoming a luxury.

Yeah.. actually inflation has made the economy becomes so  though, hard  and difficult that housing is becoming a luxury, but each an everyone will surely build or rent a house with what they can afford. For those that can't afford, they will surely figure out how to survive.

What used to be a natural part of adult life has turned into a debt trap or simply a fantasy.

Economic inflation is the actual cause of it. And this is happening everywhere in the universe, and we can't deny it.