Those Boomers really pulled themselves up by their boot-straps.
*And by that I mean, did nothing but sit on their asses as everyone else pushed up housing prices.*
Per capita and translated so that age aligns would be interesting to see. Also whether millennials prefer different investment vehicles like crypto as compared to other generations.
As a Millennial, I only own real estate because some guy in 2012 offered me bitcoin instead of cash for a PS3 on Craigslist.
Even with the money I made from selling the BTC, I had to borrow from family to make a down payment because the bank saw the crypto sale on my bank statement and flat out wouldn’t accept money from me. Everything seemed to be a problem. There were about 12 instances where it seemed like I wouldn’t be able to buy the very reasonable tiny bungalow.
Instead I had to have family gift me the down payment and I gifted them Bitcoin money later in appreciation.
So much had to go right just for me to buy a reasonable house with a steady full time job, it’s ridiculous.
When I bought my next house, I had no challenges at all. The equity was more than enough for a down payment and I spent about 30 min signing paperwork. The barrier to entry is real.
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Those Boomers really pulled themselves up by their boot-straps.
*And by that I mean, did nothing but sit on their asses as everyone else pushed up housing prices.*
Per capita and translated so that age aligns would be interesting to see. Also whether millennials prefer different investment vehicles like crypto as compared to other generations.
As a Millennial, I only own real estate because some guy in 2012 offered me bitcoin instead of cash for a PS3 on Craigslist.
Even with the money I made from selling the BTC, I had to borrow from family to make a down payment because the bank saw the crypto sale on my bank statement and flat out wouldn’t accept money from me. Everything seemed to be a problem. There were about 12 instances where it seemed like I wouldn’t be able to buy the very reasonable tiny bungalow.
Instead I had to have family gift me the down payment and I gifted them Bitcoin money later in appreciation.
So much had to go right just for me to buy a reasonable house with a steady full time job, it’s ridiculous.
When I bought my next house, I had no challenges at all. The equity was more than enough for a down payment and I spent about 30 min signing paperwork. The barrier to entry is real.
We’re beating those pathetic Gen Alpha’s though.
Why did millennials lost equity starting in 2015?
Wealth builds over time