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re: Millennials will spend 45% of income on rent before age 30
Posted on 3/27/18 at 9:48 pm to glassman
Posted on 3/27/18 at 9:48 pm to glassman
quote:
Even NOLA has pretty ridiculous rents with a lot of millennials and hipsters wanting to live there.
I don't get paying $2k for a 2br shotgun in Bywater when they can get a 2br apt in warehouse dist. for $1750/mt
1
Posted on 3/27/18 at 9:49 pm to ellishughtiger
quote:
What's rent like in Juneau?
Don't Juneau?
Posted on 3/27/18 at 9:50 pm to ellishughtiger
quote:
What's rent like in Juneau?
Expensive. Good thing I own.
Posted on 3/27/18 at 9:51 pm to fallguy_1978
quote:yeah that's not true
Some of this trend can be attributed to many Millennials preferring to live in downtown urban areas paying rent that they know is way too high, rather than buy a home.
Posted on 3/27/18 at 9:51 pm to Paul Allen
Rents are pretty steep right now, but they seem to have plateaued. We will see.
Posted on 3/27/18 at 9:51 pm to GreatLakesTiger24
quote:
Some of this trend can be attributed to many Millennials preferring to live in downtown urban areas paying rent that they know is way too high, rather than buy a home. Also, student debt is holding back many Millennials from buying a home, forcing them to pay higher rent prices. About 50% of Millennials who have student debt said they are uncomfortable taking on a mortgage.
Couldn’t you rent in a non downtown area if you’re really trying to save?
Posted on 3/27/18 at 9:52 pm to Byron Bojangles III
How is it not true? Have you been to Williamsburg (Brooklyn), Austin, Nashville etc...it’s majority young people.
Posted on 3/27/18 at 9:53 pm to fallguy_1978
Commuting is hugely expensive, when you factor in time, and transportation costs.
This post was edited on 3/27/18 at 9:53 pm
Posted on 3/27/18 at 9:53 pm to Byron Bojangles III
quote:
quote:
Some of this trend can be attributed to many Millennials preferring to live in downtown urban areas paying rent that they know is way too high, rather than buy a home.
yeah that's not true
In most cities not named San Fran there are lower rent options than almost half of your income. It may not be the hip neighborhood but you take what you can get
Posted on 3/27/18 at 9:53 pm to St Augustine
quote:
Couldn’t you rent in a non downtown area if you’re really trying to save?
No one wants to be BNT or live in Metairie
Posted on 3/27/18 at 9:53 pm to GreatLakesTiger24
If you were a millennial living in a city, then this is obvious. At best it’s 30% unless you’re loaded or live in the ghetto.
Posted on 3/27/18 at 9:54 pm to St Augustine
quote:
Couldn’t you rent in a non downtown area if you’re really trying to save?
Yes
Posted on 3/27/18 at 9:54 pm to glassman
I knew someone that lived in a 2 bedroom at The Saulet back in 2008 and they were paying $1575 a month. That was 10 years ago!
Posted on 3/27/18 at 9:54 pm to GreatLakesTiger24
quote:
As it turns out, Millennials pay about $92,600 in rent by the time they turn 30.
I know very few people that purchased a house under 30 that didn’t have a ton of help from their parents either with cash or by living at home an extend period of time.
It’s also not all that attractive to go looking for houses as a single person making 45k out of college. Your option is limited to living in burbs in some cookie cutter that the home builders surely cut every corner on. Especially as these first time buyers watched a ton of people go upside down on loans 10 years ago
Posted on 3/27/18 at 9:55 pm to GreatLakesTiger24
I pay fihteen percent
Posted on 3/27/18 at 9:55 pm to glassman
there are some pretty affordable rentals in mid-ctiy, no?
This post was edited on 3/27/18 at 9:56 pm
Posted on 3/27/18 at 9:57 pm to jimbeam
Was this thread supposed to be shocking? Almost everyone I graduated with is somewhere within the margin of error in this statistic. I mean, I am.
Posted on 3/27/18 at 9:57 pm to Paul Allen
quote:
$1575 a month. That was 10 years ago!
quote:
The Saulet
Posted on 3/27/18 at 9:58 pm to GreatLakesTiger24
quote:
there are some pretty affordable rentals in mid-ctiy, no?
Some, but still pretty high in terms of sf price.
Posted on 3/27/18 at 9:59 pm to GreatLakesTiger24
Keeping up with the Jones' aint cheap
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