What Would Happen If All Young People Gave Up 'Luxuries' to Buy a House?

[88m3]

I don’t know how someone would get this data, but I wonder if there was a way to see how every home/piece of land in America was purchased, like the original buyer of the land or home and how it was bought, Maybe that could give us a clearer picture on what it means to buying and owning a home

that's what deeds and property title are for


what kind of insights were you looking to find?

 

[Gritsngravy]

that's what deeds and property title are for


what kind of insights were you looking to find?

I was thinking maybe the process of obtaining housing could improve, I dont know for sure but I think it would be a good guess that most Americans who have any attachment to a house comes from the help of gov, but in modern times most housing purchasing is loans from banks and maybe that’s not a sustainable way of helping your citizens obtain housing, maybe it’s too much emphasis put on taking out a loan, but then I guess we have to really question what is the true value of land and housing really

 

[EndDomination]

I'm not sure they understand how mortgages work.

The amount I pay for rent now would be the 30-year mortgage payment for a $450k house + taxes and general upkeep.
The person is clearly stating that if they could qualify for a mortgage (and judging by the amount they pay monthly they likely could have in the mid-2000s), it could have gone toward that asset instead of right into their landlord's pocket.

Rental history also is notably not used for home purchases here in the U.S.

Yea that means fukk all when buying a house. First off,mortgages are gonna be higher then rent and if u have other expenses fukking up your credit, what makes u think banks wanna take a risk? Everyone should know that renting does fukk all to your credit good or bad. Maybe that renter should focus on things that matter to help get a loan for a house instead of crying on social media like 99% of Americans do.

As I stated above the median rent in most cities is not higher than the median monthly mortgage payment

 

[Pressure]

The amount I pay for rent now would be the 30-year mortgage payment for a $450k house + taxes and general upkeep.
The person is clearly stating that if they could qualify for a mortgage (and judging by the amount they pay monthly they likely could have in the mid-2000s), it could have gone toward that asset instead of right into their landlord's pocket.

Rental history also is notably not used for home purchases here in the U.S.

If they had money for a down payment they would qualify.

If they can’t save up while renting conventional wisdom suggests they’re living at or beyond their means.

 

[ogc163]

I would give up some luxuries to buy a house.

That's fine, but cutting lattes ain't gonna have much of an impact.

 

[Bboystyle]

As I stated above the median rent in most cities is not higher than the median monthly mortgage payment

And as i stated (and u quoted) Rent is not higher than mortgages...So i dont get your point here....

 

[Braman]

Tf is this lol leave it to gen z to try and reinvent the wheel. Thinking a house is a ‘basic human right’.

 

[Braman]

It can give you equity...that generally hasn't been the case for Black folks.

It can give you passive income streams...that generally hasn't been the case for Black folks.

Your last point is what I would call true but trivial in the context of the conversation.

Homeownership is overly romanticized in this country and it being one of the core parts of our economy has been a net negative in my opinion.

Home ownership as far as living in a home is flawed. But real estate is the #1 path to wealth. So go figure. This new generation seems to be hip to that, buying rental properties, becoming landlords

 

[Braman]

And as i stated (and u quoted) Rent is not higher than mortgages...So i dont get your point here....

Pretty weird to say that so matter of factly as if a ton of variables don’t go into play. It varies it really is a 50/50 thing.

 

[Conan]

Home ownership as far as living in a home is flawed. But real estate is the #1 path to wealth. So go figure. This new generation seems to be hip to that, buying rental properties, becoming landlords

It is not the number 1 path to wealth. Having a successful business is, by far. Followed by investing in the stock market.

Real estate gets you comfortable. But it is not the number 1 path to wealth by any means.

 

[Conan]

That's fine, but cutting lattes ain't gonna have much of an impact.

Only morons think it has an impact. A few of them in this thread, as always.

 

[Raphaello]

Why is anyone entitled to owning a home?

 

[EndDomination]

And as i stated (and u quoted) Rent is not higher than mortgages...So i dont get your point here....

rent absolutely can be higher than mortgages and often is
my rent is higher than a mortgage in my same neighborhood

 

[Bboystyle]

rent absolutely can be higher than mortgages and often is
my rent is higher than a mortgage in my same neighborhood

Ur the one who said rent is not higher than mortgage doofus


But ur dumb as fukk to think renting is higher cost of living. Even if the actual rent is higher, the cost of living and utilites surpass renting if u own a home. And thats not inclduing maintaining the house as well.

Renting will always be cheaper and anyone saying otherwise is dumb and never owned a home