Housing is no longer a goal for the next generation

[Justbillywitt]

You must not build a luxurious house to own a house, there are houses you can build with little money that might not be as big as you are seeing it. The stress of renting a house on the long term is not as easy as you are seeing it. There's nothing that's as good as having your own house. Moreover the prices of renting houses are not stagnant, they are equally rising as the cost of building a new structure keeps rising. What one should do is to strive to increase your sources of income because if you want to rely on one source of income it will disturb you to cope up with the rising cost of building or buying a new house.

[Versatile_choice]

if a person decides to rent instead of buying they'll pay less and have more possibility to move in the short term

If you're going with this mindset you would end up not building a house of your own,  and you may be thinking that the amount of money you pay for rent is less than buying now imagine how long you will continue to live there? And nowadays rent is becoming too expensive to an extent that not everyone that can afford to pay for ordinary (self-contian) not to talk of 1bedroom flat, so this Money you're spending every year to pay house rent is enough to start up a new building because there are some person's that have been staying in a rental apartment for decades, I'm sure if they use the money to start up a building plan they would have finished up with everything and just move in but some people failed to understand this.

[Tmoonz]

You must not build a luxurious house to own a house, there are houses you can build with little money that might not be as big as you are seeing it. The stress of renting a house on the long term is not as easy as you are seeing it. There's nothing that's as good as having your own house. Moreover the prices of renting houses are not stagnant, they are equally rising as the cost of building a new structure keeps rising. What one should do is to strive to increase your sources of income because if you want to rely on one source of income it will disturb you to cope up with the rising cost of building or buying a new house.

In light of what you are saying the feeling can be some worth different when one living in their own personal house than that of the rented apartment, the sense of possession and having that self respect can be paramount no matter how small the house can be while making other necessary plans for upgrading with the time, but come to think of it who will intentionally went to be living in a rented apartment for ever? There is nothing wrong having investment plans to enlarge our source of income streams but that at all doesn't making having a house to be called your own not worth being a goal.

[coupable]

A very accurate observation. Moreover, the fact that a young person won’t be able to buy a house no matter how much they save leads to hopelessness and unnecessary spending. In the long run, this results in a decline in their quality of life and increased debt.

With the high demand by investors in the real estate sector, house pricing became almost impossible to reach for the majority. So they came to a simple calculation; the average retirement age is 60 between all coutries (not exact but just assumption for the example) then let's consider 30 years old is the average age of people willing willing to own their own houses. Means we have 30 years until retirement. Then let's calculate how much cost renting a house for 30 years then compare it to buy a house immediatly. Surprisingly, it would cost much less, considering the category of people living in big cities because house pricing in villages are much cheaper. Do the calculation yourself if you want.

I bet there are many more factors that can influence the final total spending for renting / buying a house than it looks such as maintenance, etc.

Moreover, the housing prices that are in places where public facilities are many will be much more costly than buying house in a village where hospital is 30 minutes away.
There is reason why landlords keep raising prices despite the cost of renting already too high, because the demand and nobody want to experience floating interests that could make them broke.

Living in villages is no longer a bad idea because services facilities are everywhere nowadays. I live in a small city in a developing African country where there a lot if villages arround and agriculture farms. Except for universities which are combined in big cities, all services are available and people spend time in transportation from their houses to their jobs less than those living in big cities suffering from continious traffic jam. This makes the choice of living outside the cities a great idea and even better if someone want to buy a house. Why to buy an expensive house in a crowded poluted city when i can buy it much less cgeaper in a nearby quiet village?

[batang_bitcoin]

You must not build a luxurious house to own a house, there are houses you can build with little money that might not be as big as you are seeing it. The stress of renting a house on the long term is not as easy as you are seeing it. There's nothing that's as good as having your own house. Moreover the prices of renting houses are not stagnant, they are equally rising as the cost of building a new structure keeps rising. What one should do is to strive to increase your sources of income because if you want to rely on one source of income it will disturb you to cope up with the rising cost of building or buying a new house.

There are pros and cons for renting and owning a house. But it's a matter of fact that the majority of us would like to own our own house. It's true that it doesn't have to be expensive to have a house. As long as you can call it on your own and you have a roof above your head having the necessities of a house. Both renting and mortgage are increasing and I agree that someone has to increase their source of income whether you want to buy one or rent.

[Antotena]

You must not build a luxurious house to own a house, there are houses you can build with little money that might not be as big as you are seeing it. The stress of renting a house on the long term is not as easy as you are seeing it. There's nothing that's as good as having your own house. Moreover the prices of renting houses are not stagnant, they are equally rising as the cost of building a new structure keeps rising. What one should do is to strive to increase your sources of income because if you want to rely on one source of income it will disturb you to cope up with the rising cost of building or buying a new house.

The way modern houses are trooping and trending, you will wonder the kind of luxurious houses we are going to have in the next 10 years, the old ones are becoming ancient and the new ones are replacing but as much as houses are changing, some patterns will take years before they deplete. There is this pattern of houses that are built in UK with red bricks, they are more than 40 years old and they still stand till now, they are well maintained.

Location really matter if you want to own a house, as for me it's not a compulsory that I must stay in expensive area, if I'm secured and safe with a developing area and good access to road, water and market then rest assure I can have my house there. I don't have to own the biggest house in the estate or area to own my house. My goal still remain the same that I must own my own house before I have childrens, there is freedom when you have your own house.

[rachael9385]

House rent is also increasing in my country. And most people I know wish to own a house to avoid  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

Things are not what they used to be in the past, renting a house in this current economy is expensive depending on the type of house you need. Owning a home on the other hand is extremely expensive especially if you don't have the money to start off the project. People who rent might have plans to own their own house but you need to start from somewhere, building a house takes a lot of and money

[WillyAp]

It depends on what is your plan, you can still buy a house just not where you want it and how much of a dream house you need.
If you wish to have just a house go for it. If your wishes are greater a house is not that much of a priority.

[Mahanton]

A very accurate observation. Moreover, the fact that a young person won’t be able to buy a house no matter how much they save leads to hopelessness and unnecessary spending. In the long run, this results in a decline in their quality of life and increased debt.

With the high demand by investors in the real estate sector, house pricing became almost impossible to reach for the majority. So they came to a simple calculation; the average retirement age is 60 between all coutries (not exact but just assumption for the example) then let's consider 30 years old is the average age of people willing willing to own their own houses. Means we have 30 years until retirement. Then let's calculate how much cost renting a house for 30 years then compare it to buy a house immediatly. Surprisingly, it would cost much less, considering the category of people living in big cities because house pricing in villages are much cheaper. Do the calculation yourself if you want.

I bet there are many more factors that can influence the final total spending for renting / buying a house than it looks such as maintenance, etc.

Moreover, the housing prices that are in places where public facilities are many will be much more costly than buying house in a village where hospital is 30 minutes away.
There is reason why landlords keep raising prices despite the cost of renting already too high, because the demand and nobody want to experience floating interests that could make them broke.

Living in villages is no longer a bad idea because services facilities are everywhere nowadays. I live in a small city in a developing African country where there a lot if villages arround and agriculture farms. Except for universities which are combined in big cities, all services are available and people spend time in transportation from their houses to their jobs less than those living in big cities suffering from continious traffic jam. This makes the choice of living outside the cities a great idea and even better if someone want to buy a house. Why to buy an expensive house in a crowded poluted city when i can buy it much less cgeaper in a nearby quiet village?

There would be that always a significant differences in between you would be living in a rural area and in urban areas on which it would be that impossible that you cant be able to determine the differences in between two. There are just that those times that you do want to go into those rural area just to have that peace of mind on which it is away from city traffic and very populated and polluted air. It would be just that depending on a certain individual because if we do speak about preference because some do always prefer that they would be on the cities because they do wanted to have that access on everything specially into those main common places on which we can directly go to if we wanted to. Speaking about on having our own houses then it will be that also having that choice and of course having that capability on buying up a house or building up one. There are those who do have the money but still that wanting to have a peaceful living into those rural areas just because of that they wanted to be out of that city life. They do rather buying up some properties for them to make some rental and generate out that passive income. For those people who are that treating up buyng up houses to be that becoming an assets then thats indeed a nice call because if we do speak about having that earning opportunity income then it would be able to generate out, and this is something that do need up to consider but when it comes to goal then there's nothing we can do if others would be that going into the other path. What matter most on here is that you should be focusing into the things that would bring out that passive income on which it will be something that beneficial into you. Always be considerate about into those potential results rather than on doing nothing at all. Some might not that be thinking up that much and would wanting into stick on where they are that comfortable with or something that they do prefer. Well, we do have our own approach and decisions life when it comes to this aspect.

[l3pox]

We were always taught to grow as independent individuals in all aspects, my parents always advised us to avoid debt, depend on others and minimize unnecessary expenses. Be your own boss even if your income is not large, the same goes for home ownership, enjoy the simple atmosphere of home instead of having to pay rent every month. A house still falls into the category of necessities, even if it's small, but you're the owner. I always remember the saying, "My home is my heaven." The context here is very clear: you'll feel comfortable living in your own home without being burdened by other things.

I think the only situation where debt makes sense is the one where you can borrow money and invest at a better rate than the interest you are paying
this is not usual and on the tradfi world even less common so in general it's better to avoid this strategy and go other ways
does it make any sense?

[Zanab247]

It depend the location you build the house that will make your generation to enjoy the money that will be coming out from the house rent.

To buy land in the city and build house to generate profit you have to spend big money, and if you are not financial buoyant I don't think you will be able to have such achievement in the city, because if your children are not comfortable with the house in the future they can decide to sell the land and the house to add to their wealth. But no parent will pray for his or her children to depend on their properties than to wish their children to be better than them in the future.

[Nahl]

If people don't have house certainly people will always rent a house for life i think this is not good too because i am sure rents prices will get more expensive with each passing year and after seeing this condition i am sure people want to have house for their retire time but the financial condition of every people is different because usually low salary makes some people forced to rent a house because they cannot afford to buy one

In my opinion the goal of next generation is they still want to buy land and build the house because i think property is still one of the best of investment tools besides that with having house it will make people live better without thinking of rent the houses and it will guarantee their childs later will have a decent life and the house not always be luxury because house at small village also the dream of some people and in my places which can be categorized small village the prices of properties is still quite cheap compared the house at the big town

[jems]

It depend the location you build the house that will make your generation to enjoy the money that will be coming out from the house rent.

To buy land in the city and build house to generate profit you have to spend big money, and if you are not financial buoyant I don't think you will be able to have such achievement in the city, because if your children are not comfortable with the house in the future they can decide to sell the land and the house to add to their wealth. But no parent will pray for his or her children to depend on their properties than to wish their children to be better than them in the future.

If it were an inheritance from parents, it wouldn't be a problem, but now, with soaring housing prices in urban areas, many young people are starting to hesitate to own a home. Many of them think it's better to allocate their money to more promising things than buying a house, or even renting.
I agree with that. Unless your finances are already stable with existing investments for the future or an established business, achieving financial freedom might be the right time to own a home. Otherwise, I think it's better to pursue that first.

[summonerrk]

It depend the location you build the house that will make your generation to enjoy the money that will be coming out from the house rent.

To buy land in the city and build house to generate profit you have to spend big money, and if you are not financial buoyant I don't think you will be able to have such achievement in the city, because if your children are not comfortable with the house in the future they can decide to sell the land and the house to add to their wealth. But no parent will pray for his or her children to depend on their properties than to wish their children to be better than them in the future.

The issue of parents and children and their relationships regarding living space is actually much more multifaceted than it might seem at first glance.
Many parents are of the opinion that children should not be left with an apartment or house because children should achieve this themselves, and although this is a rather harsh view, it is nevertheless quite understandable.
There is a concept of overprotection in the world - this is when parents take too much care of their children. I believe that if children are given a house or an apartment at 18, then this will most likely harm their worldview than have a positive effect.

[Out of mind]

In many countries of the world, people dream of building their own house in the future, where they will live with their family. The future plans of most of the youth in my country are to achieve financial success and build a house themselves. And I also plan to build a house to build my own home in the future. Every person has a goal in life to build their own house, for which people work hard throughout their lives. People work hard to achieve their future goals, save money, and in the future, they plan to build their own house and car.

[dunfida]

In many countries of the world, people dream of building their own house in the future, where they will live with their family. The future plans of most of the youth in my country are to achieve financial success and build a house themselves. And I also plan to build a house to build my own home in the future. Every person has a goal in life to build their own house, for which people work hard throughout their lives. People work hard to achieve their future goals, save money, and in the future, they plan to build their own house and car.

Owning a house is one of those dreams that carry a deeper meaning than just having four walls and a roof it’s more about the sense of permanence and pride that comes with it many people spend years working and saving just to be able to stand in front of something they built and say this is mine. It also shows how strong the connection is between financial stability and personal happiness when someone achieves that milestone they don’t just get a place to live they get peace of mind and a foundation for the future that’s why the thought of building a home often becomes a driving force behind hard work and sacrifice.

The journey might be long and full of challenges but reaching that stage is a clear reminder that dreams are achievable as long as there is discipline and determination it’s a life goal that never loses its value because a home will always represent comfort family and success.

[rachael9385]

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.

In as much as this might be a good idea remember that people have a reason why they want to build their house in an exact location, some people don't because they want to set up a business there or to get some kind of connections with people, setting up their house in a rural environment might aspect their plans. That aside, it might only reduce the cost to acquire a land but nothing would change the cost of building materials that are inflated

[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?

You seem a little out of touch or you are misunderstanding the situation. The younger generations are always going to want to want their own space and only the degree of safety that owning your home (even if paying it off through a mortgage) gives you. The problem they are increasingly facing is getting priced out of the market, as more businesses seem to be buying and renting property for a profit. Especially in this time of high interest rates, which followed over a decade of very low interest rates, caused a spike in prices while wages were generally stagnating. I don't think the desire to own a home has changed, it is just becoming ever more difficult as time passes.

[Alone055]

You must not build a luxurious house to own a house, there are houses you can build with little money that might not be as big as you are seeing it. The stress of renting a house on the long term is not as easy as you are seeing it. There's nothing that's as good as having your own house. Moreover the prices of renting houses are not stagnant, they are equally rising as the cost of building a new structure keeps rising. What one should do is to strive to increase your sources of income because if you want to rely on one source of income it will disturb you to cope up with the rising cost of building or buying a new house.

Being a tenant myself in the past, I totally agree with you that renting is not as easy as people make it sound, and it's not only about the money, it's also about freedom and will for doing things in the place you are living in, I mean, you are basically not allowed to do whatever you want in a rented place, right? The landlord will have certain conditions and rules, and you will have to obey them; otherwise, he has your money that you've submitted as a security deposit, and he won't think twice before deducting money from that when you are leaving the rental if he finds you've gone against his conditions.

When you own a house, you are basically free to do whatever you want with it. Renovate it, do things that you think will make your house look better, or have a structure as a whole. Color it whenever you want, or build whatever you want if there is space for it. You don't get to do any of these things when you are renting.

So, these are a few reasons, apart from a financial point of view, why someone should try to own a house as soon as possible.

[o48o]

You must not build a luxurious house to own a house, there are houses you can build with little money that might not be as big as you are seeing it. The stress of renting a house on the long term is not as easy as you are seeing it. There's nothing that's as good as having your own house. Moreover the prices of renting houses are not stagnant, they are equally rising as the cost of building a new structure keeps rising. What one should do is to strive to increase your sources of income because if you want to rely on one source of income it will disturb you to cope up with the rising cost of building or buying a new house.

Depends where you live. In here you can always buy some cheap land from some dying cities, but there's no jobs for you in there.
And likely those zoning area requirements of what materials you should use and how the building should look might end up being really expensive.

Because zoning areas that accept "cheap" looking ugly buildings that stand out among the neighbourhood are rare.