Millennials’ finances prevent homeownership; is that a problem?

Nothing screams "stock photo" like a picture of excited millennials buying a house.

Nothing screams “stock photo” like a picture of excited Millennials buying a house.

Almost daily, there’s another article focused on the Millennials. (Seriously, a Google News search of “millennials” returned 3.17 million results in 0.30 seconds.) Generally, the articles will make broad claims that Millennials are entitled, spoiled, and lazy, while others will seek to counter those opinions about how mil. Yes, we’ve talked about America’s largest generation ad nauseam, but an issue with millennials is rearing its ugly head and it affects all of us. Millennials are growing up–with the oldest hitting their mid-30s–and more frequently, Millennials are eschewing home ownership, out of necessity or fear of another crash. With home prices and sales rising steadily across the country, this presents Millennials a cause for concern moving forward or an opportunity.

Millennials by and large would like to own a home, but cannot quality for a mortgage (thanks student loans) or they are unable to make enough to save for a downpayment. According to a recent AP story, the average time someone rents before buying a home now reaches 6 years. Forty years ago, that number was only 2.6 years. It’s a staggering increase in the amount of time Millennials spend moving from rental to rental, foregoing one of the backbones of middle class America. According to a recent study conducted by the Urban Land Institute, 50 percent of Millennials rent, 21 percent live with their parents, and only 26 percent own a home. Think about that for a second. More than 70 percent of American Millennials either rent or live with their parents. That’s nearly 53 million Americans from just one generation who do not own a home.

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What’s goin’ on?

Things we’ve been reading:

First, a friend of mine shared this.

I lightly broke it down (do read it) with this response:

1. Referring to yourself and/or group of friends as “bro” seriously might as well be a sign you’re a douchcanoe.
2. “Midnight or after, if you have been talking for awhile and they’ve had a couple drinks, ask if they want to dance. If you see an untalked to group or a solo girl, go up to her and ask if she wants anything to drink. If she says yes, get her a drink and then ask if she wants to dance. If she says no, ask her to dance. DANCING IS FUN!!!!! Always try to dance. If she does not want to dance and is with friends, say “aw thats no fun” (or something like that) and then ask one of her friends.”
I thought the stereotype was that guys don’t like to dance, which made the all caps insistence DANCING IS FUN massively humorous. But is DANCING FUN with creepy guys who call each other “bro?”
He really does need to learn about the body though. There’s a lot in between “just under the boob” and “fingering her.”  Just sayin’.
3. “If she starts putting her hair over her ear, THAT MEANS SHE WANTS A KISS.”
I had no idea this was part of the mating ritual of humans. I’m sure my husband is stewing “That feminist bitch I married never puts her hair over my ear, dammit.”
WTF is he talking about? Well, he sure is fond OF ALL CAPS.
4. ” 6. Ejaculate (should also be self explanatory) ”
No, I’m sorry, I don’t follow, care to explain? Preferably in ALL CAPS, AMIRITE BROS? How many women do you think this “bro” *shudder* has so cleverly used this MASSIVELY AWESOME ADVICE ON, [name of friend]? Success rates count.

Also, why are people so stupid to think emails won’t be leaked, etc? Geez.

In other news: