Can someone explain to me how young people can afford all these million-dollar homes?

Was everyone born after 1990 given some huge government handout we didn't hear about?

Surely, these dumbed down, under-educated kids can't really be earning enough to finance these homes...??

They don’t own shit, the bank owns the house and owns them.

Youve been noticing the fabulous kitchens in those tik tok videos huh?

Yea, but how can they even get a mortgage?

No. Do tell...

50 year mortgages. "Buy" a home at 25, spend your entire life in debt. It's enslavement, not ownership.

I'm an educated professional with three degrees, and have purchased four homes in my life...$39,000, $70,000, $34,000 and $100,000. The cheapest one is still my primary residence.

I'm trying to figure out how these kids who may be earning even double or triple what I made coming out of college can afford houses that are 10-20 TIMES as expensive as the ones I've owned.

50-year mortgages?? Is that for real?

Debt. Youtube…tik tok….. etc….

Seriously? How many of them can be making enough to afford all these over-priced houses? That crap can't be sustainable over the long term. It produces nothing of material value.

Anybody else heard of this?

'influencers' bruh. The kids you see on the webz make tens of thousands of dollars per post on whatever shit cunt app their on

Wendy's middle management is a lucrative career.

they're

during historically low interest rates, they have been taking out adjustable rate mortgages for the much lower initial rate, expecting the party to go on forever.

Unfortunately, the party is coming to an end and the mortgage payments will be increasing a great deal, along with property taxes.

Not a good situation.

LOL.

Point blank, we can't. Renting is nigh impossible too. I have a degree in an actually decent field, but I have to work 2.5 jobs since moving back from overseas last year. I'm still living with my parents because I've been priced out of everywhere. Can't rent. Can't own. I'm not happy.

Have heard of 40 year, not 50. I suppose if a bank wants to give such, they could. Can you imagine the amortized interest on that?

Thanks for that observation, LJS.

I suspect many of these homes will be back on the market in the coming years, at far less than half the original prices.

the short answer is they cant and they dont own those homes

hugh jackman also really doesnt have adamantium in his hands

So sorry that the hard workers of your age are the ones who can't seem to get these homes, whereas it seems the riff raff are welcomed in with open arms. Is this another variant of "wealth distribution" and "social justice" at play?

This is the first I've even hear of forty. You're totally right. You'd be buying the house five times with a 50-year mortgage.

Huh?

All of the young adults (mid 20’s age) we have hired in our group in the last 2 years are living at home still. And it’s not weird to them. They aren’t embarrassed, and don’t try to hide it. Not to say that they should be embarrassed, but it really reflects the difference in society. I’m 40, and I moved out around age 21 or so, but I didn’t ever reveal that I was still living at home in normal conversation, because back then you were expected to be on your own by your 20’s.

It sucks for these kids (young adults). How are they suppose to experience the thrill of bringing someone back to their crappy apartment and screwing the night away??? You gotta get that out of your system when you are young.

The housing market is so fucked up right now, it’s going to take several years for things to even think about stabilizing. These young adults could be looking at 30 years old before they have a realistic chance of living on their own.

There has to be something else afoot here...

Thanks for your cogent observations.

Illegal aliens can go to a bank with no work or credit history and get approved for a home loan

Why not young people

There's alternate markets at work.

Seeiously? Is that conjecture, or do you know, for a fact, that this is actually happening?

TIA.