Few milestones in life mean as much to the American Dream as owning a home. And millennials have encountered the kind of trouble totally befitting their generation, which largely graduated into the teeth of the disastrous post-2008 job market. Just as they entered peak homebuying and household formation age, housing affordability is at 40-year lows, and mortgage rates are near 40-year highs.
The anxiety this generation feels about the prospect of never owning their own home affects their entire perception of their finances and the economy, says Moody’s chief economist Mark Zandi.
“If they feel like they’re locked out of owning a home it colors their perceptions about everything else going on in their financial lives,” Zandi says.
Millennials have long been dogged by a brutal housing market. They faced not one, but two, cataclysmic economic events—the Great Financial Crisis in 2008 and the pandemic in 2020. Both of which left them reeling financially and struggling to afford a home. The Great Recession decimated the real estate market as the economy nearly collapsed under the weight of tenuous mortgage backed securities. While the pandemic brought with it a remote work boom that caused millions of citydwellers to flee to the suburbs, sending housing prices soaring.
The thing that’s funny is the only person your comment really applies to here is you. You’re wholly unable to substantiate a single thing you say yet you keep projecting your inadequacy on others. When someone is able to show that you’re full of shit, you just lie and pretend they said something else.
You saying feels b4 reals has to be the funniest thing I’ve read all day, given all you’ve given us is feels and not a single reals. You’re so far up your own ass yet you still manage to fail to see how full of shit you are.
I lied, this is the funniest thing you’ve said. I originally thought you had zero self awareness but you’ve somehow managed to go negative.
Yes, I’m stalking this guy because it’s funny.
The irony of a guy who has left 49 heavily refuted responses lecturing anyone on just wanting to be mad might be the best for me. It’s either that or how he repeatedly tells people their math and reading comprehension skills suck as he repeatedly demonstrates a lack of both. Dude is so convinced he’s right that he’s engaging in Olympic class mental gymnastics to avoid any evidence otherwise. He’s a schadenfreude factory and I’m loving it.