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Something my wife brought up that I never thought of (in regards to millennials not buying things like cars and mortages) is that the millennials that can afford to buy houses don't need a mortage as they're inheriting the houses from their baby boomer parents. Obviously inheritance of things like houses has always been a thing and I don't pretend to know nearly enough about the history of economics to know the effects of things like mortages in the 40s and 50s but I imagine it's possible this is playing a somewhat small part? Plus as others have said, for many millennials, their first exposure to adulthood was the financial crash of '08, which made of lot of them very wary.
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Feb 11, 2016 20:27
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ToxicSlurpee posted:The 40's and 50's were a bizarre time because humanity as a whole doesn't tend to live in single-family dwellings. Apartments and communal living is pretty much the norm. The other side of millenials not buying homes is that they're increasingly moving to the cities where renting an apartment is the norm. The other big difference is there is a gently caress load more people now than 60 years ago. Putting everybody in a house is a god awfully inefficient use of land. When there were fewer people it isn't a huge deal but now we're seeing the nasty, nasty effects of urban sprawl. Living in the suburbs is just asking to deal with nonstop traffic nightmares and commutes that take unreasonable amounts of time. Millenials are increasingly going "meh, gently caress this I'm getting an apartment three miles from work and riding the bus." We live in DFW and it's a giant lesson in what you posted. The people pouring in from the coasts tend to live in the suburbs and price everyone out of them while millennials around here either live/rent in college towns like Denton or move way out to Fort Worth (which is where we're going now because that's where all the brand new and affordable housing is). There is a huge section of people that live downtown too. They just put up a ton of apartments right next to American Airlines Center. At first I thought who the hell would want to live right next to an arena and then I realized it's right on the edge of downtown on top of being right next to the DART Rail which will allow you to get around the rest of downtown. You can afford to live in downtown if you don't need a car.
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Feb 11, 2016 20:43
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