Wanna read something depresssing?
Oct. 10th, 2019 09:31 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
myurbandreamI'm solidly in the center of the Millenial age range, and these articles are spot-on.
https://amp.businessinsider.com/millennials-mental-health-burnout-lonely-depressed-money-stress
https://www.buzzfeednews.com/article/annehelenpetersen/millennials-burnout-generation-debt-work
https://www.businessinsider.com/millennials-last-graduating-class-affordability-crisis-student-loans-housing-2019-5
Except for this one:
https://www.businessinsider.com/millennials-wiping-out-starter-homes-real-estate-2019-4
My reaction to this last one was, "uh... this is not the direction I expected this to go". My husband and I bought a house in our 20's, but we are by nearly every metric a rare and lucky success story among our generation. Even so, we started looking in the $125,000 range because that's what we thought we could afford, and ended up buying at $135,000 because it had nearly everything we wanted for not much more money. We are middle class poor - no savings outside our 401k's, living basically paycheck to paycheck.
I do know some couples who either a) have salaries much higher than mine and can afford a fancy house, or b) rented until their 30s and bought a more expensive home. But in the latter case, that "more expensive home" was a starter home, which in our market is priced at around $190-$275k depending on various factors. The median home price in my area is $184k; the average monthly rent for a single family home is $1,846. I make over $60k annual salary and I couldn't afford either of those amounts. New home prices start at $190k and go up to a million bucks for high end custom homes. The only reason the median price is so low is because of the existing stock of older, cheaper houses.
https://amp.businessinsider.com/millennials-mental-health-burnout-lonely-depressed-money-stress
https://www.buzzfeednews.com/article/annehelenpetersen/millennials-burnout-generation-debt-work
https://www.businessinsider.com/millennials-last-graduating-class-affordability-crisis-student-loans-housing-2019-5
Except for this one:
https://www.businessinsider.com/millennials-wiping-out-starter-homes-real-estate-2019-4
My reaction to this last one was, "uh... this is not the direction I expected this to go". My husband and I bought a house in our 20's, but we are by nearly every metric a rare and lucky success story among our generation. Even so, we started looking in the $125,000 range because that's what we thought we could afford, and ended up buying at $135,000 because it had nearly everything we wanted for not much more money. We are middle class poor - no savings outside our 401k's, living basically paycheck to paycheck.
I do know some couples who either a) have salaries much higher than mine and can afford a fancy house, or b) rented until their 30s and bought a more expensive home. But in the latter case, that "more expensive home" was a starter home, which in our market is priced at around $190-$275k depending on various factors. The median home price in my area is $184k; the average monthly rent for a single family home is $1,846. I make over $60k annual salary and I couldn't afford either of those amounts. New home prices start at $190k and go up to a million bucks for high end custom homes. The only reason the median price is so low is because of the existing stock of older, cheaper houses.
