Birth Rates Down - AND - Millennials Not Buying Homes - General Discussion - Contractor Talk

Birth Rates Down - AND - Millennials Not Buying Homes

 
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Old 11-12-2018, 03:30 AM   #1
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Birth Rates Down - AND - Millennials Not Buying Homes


Globally, birth rates are down.
Millennials don't want the big houses the boomers had.

https://www.bbc.com/news/health-46118103

There has been a remarkable global decline in the number of children women are having, say researchers.

Their report found fertility rate falls meant nearly half of countries were now facing a "baby bust" - meaning there are insufficient children to maintain their population size.

https://www.citylab.com/equity/2018/...tm_source=feed

The Baby Boomer/Millennial housing mismatch is well known: As Boomers age, an upcoming glut of suburban and exurban homes will stand empty and unwanted, leaving both generations at a loss. Downsizing empty-nesters won’t find buyers, because Millennials want smaller homes or condos in or nearer to the city, not big four-bedroom Colonials with yards. And younger adults won’t be able to afford such single-family abodes because urban housing has become too pricey.

.......urban Boomer homeowners, in their quest to fend off “density” (and apartment renters) in their neighborhoods, have consistently—and incredibly successfully—blocked the construction of affordable housing. Such NIMBYism has hindered the building of more housing in areas desirable to Millennials, keeping stock low, prices high, and younger, less-affluent residents—as well as the working and middle classes more broadly—out.
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Old 11-12-2018, 07:49 AM   #2
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Re: Birth Rates Down - AND - Millennials Not Buying Homes


HOUSING is too high, taxes are equally too high and healthcare is too high.



At least responsible young adults acknowledge that is not an ideal start. We are flooding the country with foreigners that know the benefits afforded to them and have larger families

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Old 11-12-2018, 12:25 PM   #3
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Re: Birth Rates Down - AND - Millennials Not Buying Homes


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As Boomers age, an upcoming glut of suburban and exurban homes will stand empty and unwanted, leaving both generations at a loss. Downsizing empty-nesters won’t find buyers, because Millennials want smaller homes or condos in or nearer to the city, not big four-bedroom Colonials with yards. And younger adults won’t be able to afford such single-family abodes because urban housing has become too pricey.
As it always has, the market will self-correct on this...


Contrary to what it seems, there's nothing but opportunity in that... people need a place to live, whether it's renting or owning... that never goes away...

Last edited by KAP; 11-12-2018 at 12:29 PM.
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Old 11-12-2018, 02:05 PM   #4
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Re: Birth Rates Down - AND - Millennials Not Buying Homes


I disagree with this thought process. I think that the millennials who what the more downtown loft lifestyle that people seam to talk about are just the more outspoken of our generation.

I know that my neighbourhood is probably 90% millennials who have done the exact opposite by moving outside the major city for a smaller town lifestyle

I think the decline is birth rates if a function of everything costing more these days. We talked about having a third child but the cost of child care would mean my wife as a teacher making a good living would essentially be working to pay for childcare until they where in school.
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Old 11-12-2018, 02:30 PM   #5
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Re: Birth Rates Down - AND - Millennials Not Buying Homes


A lot of the millenials might be living in the 'burbs, but only because they're priced out of the city. The ones I've seen move out of the city to the 'burbs are either new parents who still think that's what they have to do with kids, or again the people who are just spending too much on rent and want to own something but can't afford a mil or more for a place in the city.
As with everything real estate it's all location and local. Kids might want to live in the small towns where you are, but here they just want out of the small towns. The problem is too many of them can't afford to move to the city.
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Old 11-12-2018, 05:07 PM   #6
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Re: Birth Rates Down - AND - Millennials Not Buying Homes


There will be plenty of housing available once all the boomers croak.
Around this area they have built Over 55 retirement communities like crazy.
There will not be enough over 55 people to fill those properties in about 20 years.
Watch all those retirement communities turn into affordable housing then.
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Old 11-12-2018, 07:16 PM   #7
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Re: Birth Rates Down - AND - Millennials Not Buying Homes


We all know that houses get old and fall apart (just like the occupants), so there might not be as much housing available in 20 years.
As far as the birth rate declining, there's an interesting correlation in communities getting TV and declining birthrates. Obviously over simplified for a sound bite, but the reality is that once incomes increase and there's exposure to technology and the world, people have fewer kids. Maybe the global population will actually stabilize? If we took the projections from the 60's and 70's we'd be seriously overpopulated already.
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Old 11-12-2018, 07:50 PM   #8
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Re: Birth Rates Down - AND - Millennials Not Buying Homes


They’re tearing down downtown housing and building medical shlt here. A lot of money in medicine.
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Old 11-13-2018, 02:30 PM   #9
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Re: Birth Rates Down - AND - Millennials Not Buying Homes


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They’re tearing down downtown housing and building medical shlt here. A lot of money in medicine.
yep town down the highway here would be nothing but a watering hole if not for the hospital.....new wing added, medical office buildings, pharmacies...take it away and the whole town would go to sleep
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Old 11-14-2018, 01:56 AM   #10
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Re: Birth Rates Down - AND - Millennials Not Buying Homes


I blame the feminists.
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Old 11-14-2018, 12:55 PM   #11
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Re: Birth Rates Down - AND - Millennials Not Buying Homes


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They’re tearing down downtown housing and building medical shlt here. A lot of money in medicine.
People in the retirement communities need doctors, not lofts.
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Old 11-15-2018, 11:51 AM   #12
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Re: Birth Rates Down - AND - Millennials Not Buying Homes


I think the problem is that we fail to teach our children how to manage money. Everyone I talk to that rents could be paying a mortgage instead for less. But they don't know that renting is a waste, they don't know that you don't need 40k down to buy a house. They think it's such a major process that is too big for them! They don't know how to save, they spend everything they have and then charge up the credit cards. Their whole existence is basically on borrowed money, and if you don't already know... Credit card debt is hard to get out from under. Even $2000 on a cc will take years to pay back and cost $8000. I think it's time we start educating each other with the tips and tricks we may know and then we should teach our children as well.. I'm going to start a new thread damnit.

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Old 11-15-2018, 02:42 PM   #13
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Re: Birth Rates Down - AND - Millennials Not Buying Homes


There a few things going on with this topic. Many millennials would like to own a home but they have a student loan for 100k. The other big issue is the quality of jobs offered outside of cities. Many small businesses don't want to pay enough for people to own a home and they leave the area looking for better work. A lot of companies hire a millennial for half the salary when a boomer retires. The future of the middle class is in jeopardy. Millennials are not totally blameless though. Some of them are horrendously bad with money. Between the craft beer, expensive coffees going out to eat all the time, wearing expensive clothes, traveling etc many of them spend way too much. I'm a millennial and I "own" a house but it's small, needs a lot of work and I bought it when the market was still pretty low. It's not always easy and there are things I sacrifice. That being said, We are not all snowflakes.

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Old 11-15-2018, 04:28 PM   #14
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Re: Birth Rates Down - AND - Millennials Not Buying Homes


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There a few things going on with this topic. Many millennials would like to own a home but they have a student loan for 100k. The other big issue is the quality of jobs offered outside of cities. Many small businesses don't want to pay enough for people to own a home and they leave the area looking for better work. A lot of companies hire a millennial for half the salary when a boomer retires. The future of the middle class is in jeopardy. Millennials are not totally blameless though. Some of them are horrendously bad with money. Between the craft beer, expensive coffees going out to eat all the time, wearing expensive clothes, traveling etc many of them spend way too much. I'm a millennial and I "own" a house but it's small, needs a lot of work and I bought it when the market was still pretty low. It's not always easy and there are things I sacrifice. That being said, We are not all snowflakes.

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It's not how much you make, it's how much you save... many today simply don't know the word sacrifice, nor understand the concept of living beneath your means (short term pain, long term gain in some cases, a lifestyle to others)...

Where you benefit, is you bought when the market was low... you're not only going to historical realize a double-digit return depending on when you sell, but unlike a renter, there are tax advantages to being a HO for the money you HAVE to put out to live somewhere...

Last edited by KAP; 11-15-2018 at 04:32 PM.
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Old 11-15-2018, 05:40 PM   #15
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Re: Birth Rates Down - AND - Millennials Not Buying Homes


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It's not how much you make, it's how much you save... many today simply don't know the word sacrifice, nor understand the concept of living beneath your means (short term pain, long term gain in some cases, a lifestyle to others)...

Where you benefit, is you bought when the market was low... you're not only going to historical realize a double-digit return depending on when you sell, but unlike a renter, there are tax advantages to being a HO for the money you HAVE to put out to live somewhere...
Yep, not how much you make but how much you keep.

Our lifestyle has change a lot in the last few years, but it was delayed a long time.
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Old 11-15-2018, 05:41 PM   #16
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Re: Birth Rates Down - AND - Millennials Not Buying Homes


What year is the first year of millineals?
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Old 11-15-2018, 05:58 PM   #17
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Re: Birth Rates Down - AND - Millennials Not Buying Homes


Anyone born between 1981 and 1996
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Old 11-15-2018, 05:59 PM   #18
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Anyone born between 1981 and 1996
I'm a millineal lol

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Old 11-15-2018, 06:01 PM   #19
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I'm a millineal lol

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Yup.
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Old 11-15-2018, 06:04 PM   #20
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Re: Birth Rates Down - AND - Millennials Not Buying Homes


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I'm a millineal lol

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