Housing is no longer a goal for the next generation

[Agbamoni]

Considering the cost of building a dream home, that is very expensive these days, most people see rentals as the cheapest option to save cost. People around me wants to own a home regardless of how expensive it is.

Everyone has their option in times like this and I will always choose house leasing. Paying for a home for the next 15 years, keeps me at peace for me to own my home within that period.

[DYING_S0UL]

At the end of the day everyone craves a place that they can call home and rest peacefully regardless how expensive that thing might be. Also housing doesn't necessarily mean it would be expensive. There are certainly cheaper options, cheaper methods, cheaper alternatives to build houses. Where I'm from you don't just throw rod, cement, brick into a house. You can build one, and still live comfortably without spending a massive amount. You can also avoid luxurious features which will significantly reduce the cost while maintaining the current standard.

[Stormisover]

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.

It is everyone goal to own a house to be called their own I mean no one will like to be paying rent for the rest of their life, the individual interest can actually differ based on choices and the available resources, there are those that have the resources to  build a house but they will choose not to maybe the available resources can not give them the standard of house they want and at that point they can decide to invest such money rather than building a house while the other person can decide to make use of the available resources and build a house they can afford at that time and it doesn't matter to them if they go broke after building, the thread can be arguable on a second thought because their are those who doesn't give much priority to owing a house, and they are ready to be paying rent and for me it is not really a good thing.

[batang_bitcoin]

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?

Housing are still part of governments programs but it's not that a goal anymore for the most because the land is expensive, constructing a house is expensive. And this resorts people to just renting forever because they have no obligation to repairs, to taxes and mortgages. It's wise if you're in that situation that you can afford to rent monthly and pay all the dues. But there are still plenty of people that dreams to own a house and if given the chance that they're able to afford it even a flat apartment as long as it can be called as theirs, it will be great for them to have it.

[Alphakilo]

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?

Most people who live in my part of the world don't even thinking about buying a house. It is near impossible for the average person who earns just a little above the minimum wage to even fathom of buying a house. They just can't afford it.

Most are resorted to long term renting as have already been stated. The government no longer have a low-cost housing scheme. Because of their poor planning and corruption it would be a project that would be already dead on arrival.

[rachael9385]

The cost of everything is absolutely high at the moment. A lot of Young people prefer to rent for a while probably till they stand on their feet is because owning a house in this generation is very expensive. The cost of getting a land and then building materials is worth a fortune. It's quite unfortunate that the standard of living is getting too high but majority of the youths are struggling to just survive on their own

[Sammye3]

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?

The comfort of living in your "home" is  highly overlooked and underrated until you have the experience of paying rents on an annual or monthly basis. The recent adjustment of prioritizing the purchase of land for investments purposes should be an advancement for youths as it poses a good investment plan.

[hafiztalha]

Rent of the houses depends on area to area and country to country. There are thousands of people in our country who want  to buy their own house because they don't want to give rent on monthly basis and people are trying to save money for that emergency need . People are doing investments but no Inves is looking in good profit, so they always try to make a house in which they will spend life with all freedom . No person will resist them but they should try to save more money which should be invest in good business because many properties are giving nothing. Property business is down at that time because for the last few years economic situation of all countries amis very bad and all people are in trouble to save more money.

[Majestic-milf]

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.

That's the thing. Some people prefer luxury over comfort when looking for a house and since their pocket can't carry their dream home, they prefer to spend the cash by paying rent, forgetting that as the years go by so will the amount charged for rent. This is not the same thing as when you own your home cause the only bills you worry about are the light bill and some other minor things round the house which may not require immediate fixing.
 Like you said, it's unnecessary to purchase a land in the upscale parts of the city cause that would incur much expenses than when you select a spot in either the suburbs or the rural areas but you find out that these people would feel that owning a home in these areas would take too long to see development.

[bhadz]

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

The real estate bubble has popped in a certain area in my country. But I don't see it happening in the other sides where there's still a demand for properties. I think that the change is due to the economic situation of a country and also with the minimum wages that can't keep up anymore if you work for 1 job. To have a house is a life time goal that before we die, we at least have achieved it. It's no longer important to the people that has simple living and understands that they cannot afford the monthly payment. Also, the houses nowadays are truly expensive. Before, a factory worker can live in his own house and able to pay mortgage and still live comfortably. Now? you cannot do that anymore. Wage is just for rent, food and utilities.

[JeffBrad12]

It's still a goal but most of us know it very well our salary won't ever catch up to the housing price capital gain so we do something like trading and investing. Long term renting isn't a solution either with the ever increasing renting cost. You think those landlords aren't pushing for an even higher renting fee? .
The only realistic way to acquire a house is by investing in an asset that outperform both inflation and housing.

[kotajikikox]

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.

There will be more and more kids living with their parents, that is for sure. Or maybe the trend of 18 year olds moving out will no longer exist and instead the age for moving out will be later. This is not a problem to me because in my country, it is not tradition for kids to move out.

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 are expensive and a lot of people don't find benefits of owning one anymore when there are condominiums or apartments available that they easily abandon if they want to.

[libert19]

Where I live housing IS goal of people, they'd take a loan to build one as they feel, better pay loan installments as if they'd be paying a rent, and this is for something that they would actually be owning.

There will be more and more kids living with their parents, that is for sure. Or maybe the trend of 18 year olds moving out will no longer exist and instead the age for moving out will be later. This is not a problem to me because in my country, it is not tradition for kids to move out.

Here neither, and I must say, this sheltered upbringing rather thwarts the child's growth; childrens must be left on their own after a certain age, this is the only way they can grow.

[SOKO-DEKE]

As for me, where I live, people see owning a house as a goal, and I am also planning to own a home very soon because it very important for.me to owns one. The rate at which house rents are increasing makes me think it would be better to have my own house, so I won't have to worry about paying rent every year. But as a young person who hasn't started building a family yet, I wouldn't advise others to rush into buying a house with the money they might be earning now. It would be better for them to invest that money in assets that can generate more profits in the future.

For example, look at people who have held Bitcoin for over 13 years. If we compare the profits of those who bought houses 13 years ago to those who invested in Bitcoin, it's clear that owning an asset like Bitcoin has been more beneficial. Even with the profits those Bitcoin investors have gathered, they could use that money to build the same house someone else built 13 years ago.

[Xcode7]

The cost of everything is absolutely high at the moment. A lot of Young people prefer to rent for a while probably till they stand on their feet is because owning a house in this generation is very expensive. The cost of getting a land and then building materials is worth a fortune. It's quite unfortunate that the standard of living is getting too high but majority of the youths are struggling to just survive on their own

But we still have to achieve that, renting only temporarily while we can afford our own home.
The current high price doesn't mean a home isn't a dream anymore. In fact, I believe that in the future, home ownership will become even more expensive, so it's better to fight or work hard now before prices rise even further.

[Altryist]

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?

People around me probably about 90% have their own housing. Some achieved this on their own to buy it, some got it from their parents, and some are paying off a mortgage. Everyone has a different story, but almost everyone has their own place, and only a small percentage of people continue to rent. By the way, renting a home is not the cheapest option nowadays either.

And it often happens that the amount of money you pay monthly for rent would be enough to cover mortgage payments, sometimes even more. So if people have settled in a certain place and are not planning to move, I think they will eventually decide to buy their own home. In any case, they can sell it later and get their money back, but if you are renting, you are just giving that money to the property owner and that is it.

[EarnOnVictor]

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.

This will always be a good plan, no one wants to continue to pay rent forever, and owning your house is even one of the greatest achievements in life.

But at the same time, we should consider different countries, it is easier in one country than in the others. Many countries require the government's full involvement, and even the cost of buying the land is huge, let alone building on it. The real estate business has been overrated, which has caused a huge inflation in that sector.

[Despairo]

And it often happens that the amount of money you pay monthly for rent would be enough to cover mortgage payments, sometimes even more. So if people have settled in a certain place and are not planning to move, I think they will eventually decide to buy their own home. In any case, they can sell it later and get their money back, but if you are renting, you are just giving that money to the property owner and that is it.

If the mortgage payment is higher or same compared to renting, pretty sure it's a shitty place too live.

First it must be cheap, so you will meet shitty neighbors because such places are mostly for poor people. Second, it's far from downtown and facilities, so it's make you need to spend more money in transportation and time. Third, crime rate might be higher due to far from people.

[DeathAngel]

It should be a goal for people to buy a home, where are you going to live when you’re retired & maybe your pension doesn’t pay the rent any more. It’s tough to get on the property ladder but is achievable. Obviously if you have a big 401k & can afford to rent forever then good for you. I would rather not be 80 renting from somebody else though, what if they want to sell & you have to arrange a move at that age.

[Dunamisx]

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?

Since there is inflation everywhere, we should then also expect that this same affect the Rentage we made on houses, while the better decision we can made in other to avoid making money into others pocket is by building one, if we build a house, we are free from rentage and then the price of rentage will not affect us irrespective of how the economy is running, if possible, we can even build for an asset and also the one to live in.