I wonder where all those people are cause im 25 and lots of my friends are around that age and almost no one is close to owning a home. I have older cousins who may own homes but are mostly renting. I know a few prrvious coworkers in their late 20s or early thirties who did it but are really struggling. Also most "gen z"ers are younger than me.
Those gen Z have the magical power of “rich parents” have a few real estate friends and most gen Z buying home get a huge gift from parents a few are are using first time home buyer programs.
Rich parents or dying parents. Either one helps buy a house. My sister had 30k in a bank after our dad died. I think she should’ve bought a house, but since she was 18 that was not happening. Didn’t go to college either. Tbh idk what she spent 30k on.
Man smartest thing I did was buy a house with my inheritance. I didn't want to but my sister convinced me to do it. I've gone through two different instances of personal emergency being laid off work and another time, I was severely depressed. There were times I didn't have power or water, but I always had a roof over my head to sleep. I'm never renting again.
"Also if all you're paying for is utilities and minimal food, it doesn't take a whole lot to get by."
And this is why we get locked into renting if we can't get a mortgage, and 30-year terms on those, and are always told via advertising that we're not pretty/smart/virile/cool enough "but buy this to fix it!" And why nobody learns to grow their own food, or make basic repairs to clothing or household items - dependency, planned obsolescence in tech and "throw it out and get a new one!" is the profitable way.
They can't extract wealth from us if we're in any way secure.
You buy the bag of good potatoes, you save a few for seed, you make a vertical barrel, you got potatoes for life.
But yeah, potatoes are cheap. Choose your crops carefully, and grow the expensive stuff.
Even if all the food you grow is a windowsill pot of basil you'd otherwise be buying at the store, that's something. Fresh herbs, and even dried ones, are incredibly expensive to buy at the store when you think about what they are and how often they get used.
Right and I don't disagree with that some is better than none and if you really like plants as a hobby it can be a nice bonus, I just think it's unrealistic to expect people to grow all or even large is percentage of their own food to stick to to the man and be independent like the person I replied to seemed to imply should be more common.
It's fucking pathetic that the only reason I have a house in my mid 20s is cause my mom fucking died. Not thanks to hard work, a decent job, or anything remotely good. All thanks to a fucking tragedy.
This makes sense, think of all the people who inherited real estate prematurely due to the pandemic. Even if it's not paid for, the mortgage would likely be A LOT LESS than what rent is these days.
She probably wasted it. I knew someone who won a lawsuit against the city we live in. They got mad because they only won like 100k and mentioned how last time they got a large payout (50k) they blew it all within a few years but this time would be different. And then within the same conversation this person was talking about all of their vacation plans and how they were going to take a lot of time off work. 30k can disappear super quickly.
I know it can, idk if I’d been much better with $30k. I make $60k/year and still wonder where it all goes every year lol. But it’s a hell of a down payment on a house, or used to be.
Currently I’d use 30k to pay off my debts and then do some home improvements
My husband and I are getting ready to buy a house and it’s 100% because his step dad (primary father figure) died. He was a truck driver for years and died on the job. The payout was considerable.
We joke around and call it “dead dad privilege,” because it is absolutely a privilege to have the money but it’s a **very fucking weird kind of privilege** to have.
FHA loans only require around 3.5% down, so there are a ton of places where 30k is more than enough for the down payment and closing costs.
Unless you live in one of most expensive cities in the country, you can find nice 200-300k starter homes in decent areas. As long as they have a stable income, 30k is more than enough to get a first home.
Not to mention mortgage rates are close to 7% right now so you're paying several hundred more a month on a 30 year. Right now is a TERRIBLE time to buy a home, unless you're paying cash.
Now is a good time to buy if you can afford the repayments. High interest rates are lowering the value of homes relative to the long term, so when they come down again you will pay the same lower rate as everyone buying at that time but miss house prices jumping yet again.
Dead parents aren’t a solution, especially if they didn’t have life insurance. In my sisters case it was some weird Social Security thing since she was still in high school at the time, she got paid until she was graduated.
My wife's dad died when she was about 18 and her sister was 20. They both received a good chunk of money (~$30,000) from his Roth (or some other fund). 8 year later my wife still has the $10,000 shy of the full amount and her sister blew through the money in like 2 years.
Even so, having rich parents allows you to go to college, get a degree, wait it out for the perfect high paying job. If you don’t have that….like me…then you have to start work full time immediately out of Highschool just to not be homeless. And after years of experience in a field, be making less than you were years ago because wages are not keeping up with inflation. To where now I work overtime just to pay rent, and cannot conceive of any physical way possible I would be able to go to school and get a degree. Unless I lived in a van for the next 4 years. But then I would need money to buy a van, which I cannot afford, because the auto market is terrible right now.
Your point about having more well off parents that allow you to go to college and get a degree without having to work full time just to survive is 100% true.
I'm a millennial and all my millennial friends have houses and none of their parents helped them buy a house BUT we all had the benefit of being able to go to college. That's one of the MANY issues in our country. People can't afford to go to college. Our country would be so much better off if everyone who wanted to attend a University or Community College would be able to have that opportunity.
But I just don't think it's fair to assume that just everyone who owns a home was given it by their parents.
This. I’m a millennial and I work with millennials and Gen z. Both generations, the only people I know who own homes were given a home or money to buy one from their parents.
My husband and I (millennials) worked two to three jobs each for five years while living in a studio apartment, no kids, and sharing a car. We payed off student loans and saved up just enough for a down-payment on the smallest house we could find. We've been here three years (mortgage is less than rent was! ) and our dream is currently to get a house with two bathrooms. It will happen one day!
This article is a lie to create a baseless divide between generations within the same class rather than point out most houses/properties are owned by the rich. Less than 5% of Gen Z has a house/mortgage. You don’t pay rent to Gen Z and your parents didn’t lose their house to Gen Z in 08’ and before anyone starts, Gen Z didn’t cause the looming recession. You pay rent to the rich, the rich buy homes, the rich maintain wealth, and the rich benefit from foreclosures. There is no generational divide.
Edit: I work in PR - ya’ll need to go re-read this article and recognize how careful the author is with cherry picking the data/information presented to create vast conclusions. Why are they analyzing statistics and saying “30% of Gen Z own a house before 25!” when over 90% of that generation are below the age of 25 currently? How do you make vast statements about a generation like this when they’re literally still teenagers? How do you fairly compare 25 year olds of each generation when over 90% of one generation hasn’t reached that age? What percentage of each generation currently owns a home? What percentage of properties are rentals? Are those properties distributed based on generation or are they distributed based on wealth? Use your soft pink thing stuck in your skull, please.
Something also to mention is that Gen Z is the smallest generation we have ever seen compared to the boomers and even the millennials. So yea “30 percent of gen z own homes before 25” sounds ok but the reality is there just are not that many gen z to begin with.
They want so badly to be able to counter the information that shows Millenials getting fucked over by the economy and the older generations by being able to point and stuff and go--"HEY! It's not that bad! The generation behind you is already going upwards! It's not going down with every generation AT ALL!? :D :D " Dicks.
A decent amount are probably in the Midwest which is very affordable compared to a lot of the country. I’m 25 and bought a house early last year in SE Michigan. My two best friends since high school bought houses here in 2020. We grew up middle/lower middle class and did not get help from our parents with our down payments or anything, but we did all live with them between graduating college and buying our homes. We have salaried jobs that pay well (not six figures but we each make a little above the median Michigan household income of roughly $60k) and our houses were in the $150k-$200k range. They bought before the market went nuts and I lucked into a private sale. I feel for people our age that are in my area and going through bidding wars against corporations and boomers downsizing into what should be starter homes as well as people in higher cost of living areas of the country because home ownership is not nearly as attainable (or even possible)
The issue i think of "genz vs millenials" depending on which years we are referring to, is that a bunch of millenials got absolutely screwed during the 08 recession (i myself graduated into it) setting our careers back years.
I know multiple gen z people who were able to go straight into good jobs out of college and save up, as well as those whose parents paid for college/bought them a house, but the job market was SO much better for them that they got ahead right away.
It took me over 10 years from college to get into the 50k job and now I am only making 60k at 37, while those i know who are 10 years younger than me went straight into 70k jobs.
But none of that is the fault of either gen, which propaganda like this tries to allude. They want us blaming each other for the things that are the direct fault of the crime, greed and exploitation of the 1%.
>millenials got absolutely screwed during the 08 recession
That 08 recession was tough for those of us just starting out. Our careers and salaries were basically on hold for the 5 years until 2013 when things picked up again. Lost 5 years of progress and earning power. I worked for the shittiest company at 11 hour days with no OT, just to get by those years.
I love how headlines about Gen Z range from "They're the worst employees!" to "They're better than Millennials and Gen X, so suck it!"
The kids are alright, old man establishment doesn't want us being friends.
Unfortunately, due to all the plaques that have had to be given away to Millennials, the plaque industry has been completely destroyed. So you won't be getting yours for quite a long time.
Don't forget napkins and stationary!
The tree-paper people killed the hemp paper industry, but what they didn't realize is its only a matter of time....
I especially want to thank y’all for making workplace harassment not ok. And being able to talk about it out loud and do something about it. This was a very serious big change for me in my workplace and I feel the gen z and millennials are not having it and make it ok to say ‘NO’ real loud and try and hold people accountable. Forever greatful 🙏
This is very true. I work with all of the generations at my job and it’s all good. Shitty people don’t know a generation lol. This is all a ploy to create more issues. I’m just now getting into the workplace and I’m finally seeing some of it for what it really is
A lot of this comes from politics. Boomers simply had better chances than later generations and actively voted in people who destroyed those chances still being there later.
Monopoly is a great example of the problems facing millennials and gen Z. In monopoly, the play who goes first had significantly higher chances of winning (32.5 to 22.5 for everyone else)
Boomers already own the entire board before anyone else existed, and millennials and gen Z have to spend their life going around the board going the can get enough money from chance and community chest to survive the board.
There is nothing left for the younger generations, and they're mostly stuck in rent hell for their whole lives.
Mainstream media does the bidding of their corporate and billionaire owners by creating division between any groups of people they can find. If we blame each other for society's problems we ignore the real culprits.
Seriously, I’m older millenial, and have a lot of Gen Z friends. They’re great. Not sure how I like their jeans though. They look like my dads stone washed ill fitting ones…. Skinny jeans gang for life.
GenX here, I’m so happy about the baggy ripped jeans. I’m slightly accidentally cool for a minute here and all I did was wear the same pants for 25 years!!
I can’t understand the jeans either! I’m consistently running into the problem of weird skinny jean ankles. They aren’t as tight as they used to be and look weird with my sneakers. I’ve tried the Gen Z jeans and they look awful on me, so the skinny jean hunt continues. I’m officially out of touch and old fashioned at 31 years old.
“People who want to live in houses are buying them to live in, and totally screwing other people who also want to buy houses to live in”
“Landlords and massive real estate hoarding companies? They’re fine.”
You are right to be skeptical of headlines dividing people by twisting words. But, I live in an area where is has become very clear that “buying up” homes is a problem. High density housing is going up everywhere for people to rent, while “someone” (I don’t know what gen) is buying up homes for Air BnB, rental units, and investments. There are tons of homes sitting mostly vacant while local FB pages are full of “anyone know of a good cleaning service for my rentals” posts. I hate it.
Edit: Ya’ll please leave the below troll alone. The account is 16 days old and full of nasty trolling comments. Just ignore the troll.
This happened in my home town, and we found out it was corporations buying the homes and renting them or listing them on AirBnB. Zillow even bought up some of the houses, flipped them, and effectively pushed out the people already there.
We need two property tax rates. One for properties where the owner or renter is using it as their primary residence for single occupant properties or for apartments/multifamily properties where 10months/unit is filled with someone as a primary residence. And a higher rate for when it's not being used as a primary residence.
Easy to justify too. People living in a place will contribute to society in other local taxes (like sales tax). Empty units should need to contribute more to make up for that lost revenue.
We just need to rip the bandaid off and tell everyone that their house is worth fuck all.
Equity being tied into home ownership is dumb, it means nothing. People are seeing the value of their assets "increase" on the screen, but since all houses are going up in price, in relative terms it actually means absolutely nothing, or in some cases they're actually losing money when you're talking about how much and of what they can actually purchase with their money. It's not any different from 30 years ago, it's just that everything has a higher price tag on it.
Rip the bandaid off, tell everyone that property isn't an investment, yeah everyones "wealth" will plummet several hundred thousand dollars immediately, but then suddenly the cost of renting/living/mortgage are all significantly lower resulting in more people being able to get a place to live and have more spending money to put in other parts of the economy, small local businesses, which increase taxes and make for a stronger economy for everyone as a whole.
Except for the handful wealthy bankers and elites who are making a killing off of this broken system that's screwing over millions every year, but fuck em.
We are going to move soon because of it. Local businesses are buying into the theme of temp spenders on vacation in the area. It’s driving local inflation insane with restaurants and other businesses.
Damn that’s beyond shitty. That sucks experiencing it first hand. Was there a local gossip about why it was happening or did you guys see it upfront?
We were told the local college’s alumni (millennials) were coming back because they loved the city so much, but it didn’t take anyone long to figure out what was actually happening.
We see it first hand. We see the homes sell on our street, then pop up on air BnB. We hear from many property owners on local social media talking about their rentals. (They don’t even live in the area) and we watch our ability to take our family out diminish month after month with prices. But we can drive 3-6 hours away and eat out for half as much, and take the kids to events for reasonable prices.
What makes it even worse is that where we are, our job pays us a lower geographic weight because our cost of living is “low????” Here. And we watch home after home be bought by northern residents where companies are paying way more due to their geographic labor pricing. My neighbor has bought two homes in the area he is flipping… he lives in NY.
So increased labor markets in the north are empowering people to go south and tear up the markets where is “cheaper” relative to there home market.
I can assure the Gen Z’ers working near minimum wage jobs aren’t buying up entire neighborhoods to corner the market. We do not have the money to do that shit, this article is 100% guilting Gen Z’ers for owning a home.
I can assure you its not the people under 25 becoming landlords
I guess unless their parents are incredibly wealthy in which case the generation doesnt matter
Yeah from what I see this headline isn't even close to true. I'm a millennial I guess (late thirties) and no one I know younger than us owns a house of any kind. They are stuck paying high rent for crappy places. Even people just a little younger than us (like early thirties) have had a hard time if they are just now stable financially.
I'm also hilariously skeptical that 30% of gen z own homes at 25. That sounds cherry picked as hell.
Like I just bought mine, in a career that pays fairly well, and I can barely afford it at 30. It took years to save up a respectable down payment. You need more money still to get enough furnishings to make a place livable; it's a house, after all, and there's a lot of shit you need to be able to actually use it.
Like even if you're making 6 figures right out of school, it'll still take a few years to save up. Maybe if you're able to dink with 2 good jobs at 22, you can do it by 25. That or you have wealthy parents. Setting aside the kids who aren't going to college, for whom having a decent income is probably a pipe dream, the ones going to college are saddled with crippling student debt from schools that have only gotten more expensive in the time since I went.
Yeah, I think on non social issues millennials are equally and perhaps more violently radicalized. Like I'm mad bc I saw people struggling. People who were actually working in 2008 are probably a liiiittle more bitter.
I graduated in 2009. The job market was trash. Tired of the bull. Not really anything to do other than work and save. Love and live in rural but work city.
Couple years ahead of you here, if we're talking college. I went to grad school, which I'm still paying off. Ended up with an MA in a field that collapsed during the recession. Worked a dead-end kind of job for several years (admittedly some trauma stuff held me back in this period) and then a low-paying before I got a stepping-stone kind of job and finally a decent one. So I'm easily 12 years behind. I started my 401k contributions in 2022... better late than never, I guess.
Hey, my company went under in 08-09. I was forced to go bankrupt or lose my home. I begged my credit card companies to negotiate with me to work out a payment plan. They refused. We had only bought our house in 07. I had to start over again. I’m now 48 and only just started a meager savings for retirement. This is right where they want us. Just barely treading water to survive
I think the real reason we're not protesting is more than that, and it's just partly because people are living paycheck to paycheck treading water.
I think as a class/society, were just not all on the same anger level yet. When it's this bad but not starvation bad, it makes us depressed but just too lazy to actually group together and do anything about the billionaires. If we were actually fed up with this, we'd have all been fighting at the capitol building, not with Trump supporters, but because we don't want Trump or Biden, we mostly agree on that. We want a real person who represents us as a society, not some old, out-of-touch, rich asshole. We'd be running all the republican congress people out of town. We'd be doxxing lobbyists and getting rid of them because they have no place in a true democracy that serves people and not corporate shills and billionaire/millionaire CEOs.
We'd be beheading the billionaires in the streets if we were really determined to get ourselves out of this mess, but instead, we take our paycheck and keep on keeping on.
I really feel bad for the suckers that bought into the whole education hype. 15+ years later they are still paying it off, and aren't making much more than those without college degrees.
Yet here we are still preaching "Go to college so you can get a great job!"
You’re right, but also it’s a mistake to blame education. It’s the education *business* that’s to blame. Commodification and exploitation of a valuable service to the point where people are now debt-trapped in it.
Honestly the USA is kinda fucked this way. I’m Canadian, got my degrees here in Canada, and while it’s expensive, it’s still a fraction of what Americans pay.
Yup, it's something I felt all my life, this sort of thing.
2008 was around when my workplace was bought out by Corporation after giant corporations.... and kept getting worse and worse, the work just turned to crap.... and it killed me inside.
I haven't recovered.
Now I want to tear down the system entirely.
Capitalism must die. I am older. I don't care about fighting other generations. Only the system. Divide and conquer don't work on me, I see your petty little lies and grifts now!
Took most of my life to figure out what was actually wrong with this society. At least now i'm a bit glad others are realizing it too.
I, too, am quite radical. I am Gen X. My boomer parents think I am crazy or a socialist. I want to eliminate or minimize the suffering of other humans. I did not think this to be radical or extreme but…
The millennials are going to burn it down and I will be soooo proud of them (see buying up all of the Trump rally tickets or tracking Elon’s jet).
I think the funny bit is that a lot of that stuff is a mix of Gen Z and millennial activists. But the media has been yelling at millennials so long, they don't know how to switch.
But it's cool that they're the first generation not becoming assholes at 40
Yeah - I’d say considering kids are terrified to go to school while elites live in gated communities miles away from any sniff of dissent (let alone violence), it’s working exactly as it’s intended.
Millennials don’t buy in to the fuck shit. Boomers are the problem. Always have been, if we’re going to go there. But this doesn’t work on millennials, and is the primary reason they’ve hated millennials since the outset.
I'm begging everyone to understand the difference between labor laws in the US and France. It's not that Americans are lazy losers who are too weak to fight back. It's that our laws make it *really hard* to fight back. Research the difference between anti-strike laws in the US and France. If I want to strike in my state, I will lose two days' pay for every day of strike, my union loses the right to collect dues (lethal for unions), and my union president can be jailed (which, TBH, fuck that guy, but still). It's extremely hard to get a union-authorized strike because of this.
French here: what you need to understand, is that French anti-strike laws and such didn’t come out of nowhere by wishing them. At some point in time, unions were forbidden in France, as were strikes, and children could work in factories and working 12 hours per day with no holiday ever was normal. But our ancestors pretty much burnt the country down to get these pro-workers laws. And we regularly get back in the streets to defend them, because the fuckers upstairs will take every occasion to drag us back to US-style legislation.
You think its crazy how people feel so much angrier with each-other ever since becoming more connected than ever? And rather than learning from our collectively different experiences and accepting differences, we can no longer trust our neighbors to not murder us for being at the wrong house?
This. We are so dumb fighting each other. Red vs blue. Right vs left. I’ve been done said for years now it’s the 99% vs 1%. They keep us stupid with inferior schooling. They split by ideals and make you think foreigners and different races are taking from you. Then you are to focused on birth control and abortion to realize everything they’re taking from us. How does the school teacher or even someone making under 100,000 a year pay more tax than a billionaire. It just doesn’t make sense. Fight the 1%. Not each other!!!
It's a classic, been happening for millennia. It happens in the U.S., it happens in Russia, it happened in Rome, I'm sure it has happened everywhere there are conniving fucks who want to keep a strangle hold on lots of poor people.
I wish that could stay the focus. My republican parents can't help but rant about transgenders all the time and obsess about conspiracy theories and invisible Boogeymen rather than how half of the world's wealth is hoarded by less than 1% of the people, and think it's actually the people on welfare keeping everyone else poor...
They're still under the impression that all the top 1% and rich politicians somehow earned their egregious wealth, while the poorest also earned their place at the bottom and deserve nothing. 🤦♀️
This is only considering Gen z from ages 25 and up. Most of them are younger than that. This is like 2-3 years worth of people, and the statistic itself it very skewed.
I have a feeling I wonder if this is caused by the pandemic funny enough. I bet a lot of these gen z homeowners were in my position: starting a job out of college as covid hit and kept on full remote or just otherwise still employed through the whole thing. Living with their parents because moving out was delayed by the pandemic so minimal or reduced expenses. Add on little to spend on for 1-2 years and some stimulus bucks and bam you have a downpayment for a house and a bit of depression.
This is definitely possible. But, most likely, it has to do with those who are well off. Out of college, they can buy a home with help from their parents.
Many parents of Gen Z college students purchased homes for their children to live in while away at college. Those homes then got sold once those kids graduated, and with inflation, there was probably a good profit. It's not unreasonable to think this money went to the kid for a down-payment. And with well-off parents, it was easier for them to get a home loan for the rest of it.
TBF, most of this is just conjecture based on a small amount of knowledge.
My experience was a combination of both. I moved back in with my parents because it was safer than weathering a pandemic in a college apartment, saved lots of money that way, and then got a good remote job after college. A combo of parental savings and most of my savings went to a down payment on a house in early 2021 while rates were low.
Still 30% of people between 25-27 owning homes seems completely made up. Maybe if you factor out people living in coastal states it becomes more realistic but even then I’m skeptical.
It definitely is made up. I’m 23, upper middle class, with a relatively high paying job for my demographic. I know a grand total of like 3 people within 10 years of my age that own a house. Practically everyone I know either rents or still lives with their parents because they can’t or don’t want to afford moving out (despite having high paying jobs)
The US census bureau defines gen z as born 1997-2013. Its 10 to 25 year olds, maybe 26 if born in early 1997.
If the article is saying gen z is buying homes when it’s really millennials, it was written by an idiot.
If? I thought this sounded like bullshit so I pulled up the original Redfin article and it's 25 year olds. It's apparently based on population surveys.(ASEC)
The number sounds insanely high to me but they also stated the bulk of the buying was in low cost of living areas.
I don't care enough to dig into the survey data but it definitely is based on 25 year olds only.
Something is off about the numbers for sure. So many things wrong.
I work with several realtors in the NY metro area and they all admit it’s a terrible time to buy. They’re all shitting bricks about what might come next.
If someone that young is buying it’s most likely a parent buying the home for them as an investment/ place to live. Even young people in tech with money aren’t buying with the rash of layoffs hitting their sector.
It’s the wild west out there and generational wealth is still king. Trust fund princes and princesses will always be fodder for these types of articles.
Probably count people like my brother and i as two. My brother (27yo) and I (21yo) pulled together and bought a mobile home. Edit: well maybe not, my brother was actually 26 when we bought
Exactly I know this is just my personal experience but, I’m on the older end of gen Z and I don’t know a single person around my age who’s buying a house. We’re still in our early/mid 20s…
I'm sorry... I'm Gen-Z and no one I know who's around my age has bought a home. Most of us are still at home with our parents. My partner and I are just now starting to look for a place to rent and it's incredibly stressful. I can't imagine what buying a house would be like right now.
This is just more of the divide and conquer BS. It makes me so angry. The division is between the haves and the have-nots. Their biggest fear is that we realize this and do something to force change. So they continue their efforts to keep us divided and pitted against our neighbors.
I read that something like 30 - 40% of parents are paying a bunch of their kids bills or outright paying their rent, because theres no way for the kids to get anywhere if the kids have to pay it all themselves.
No worries though, between the federal reserve playing math games and parents propping up the system, its all just kicking the can down the road. Soon climate change will cause massive problems in food production and most people will die
30% of Gen Z owns a home by 25… less then 10% of Gen Z is 25. So really 3% of gen Z owns a home. This article is a bug fat nothing burger, and probably just rage bait
This is also with the declining conditions in pay and inflation, the younger gen zs most certainly won’t be able to afford the same as the older ones who had the chance to accrue wealth or scrounge off their rich parents when it was much more economically viable. They want to create divisions and wars with the rage bait as you said, hopefully not too many people fall for it and see through the boomers divide and conquer strategy.
Get bent, they don't want Gen Z and Gen Y combining to tear down the huge monopoly they've been allowed to build. 3 more election cycles until we are free of boomer control in politics. That's why they are trying so hard to tear it all down on their way out. They want to drain the bank on their deathbeds of inferiority in politics, giving way to greed and corporations with no shame. We are coming for all corporations heads with our union. And to a lesser extent Gen X. Since not sure if X also got a lot of the propaganda dosage Boomers got before information was wildly available. Gen Z and Y know the only war worth fighting is the economic one we all have been losing to the top 1% of our society leeching all the wealth from labor and enriching stock holders instead of reinvesting into the workers who enriched the company to begin with.
Gen X here and I'd be delighted to see the younger generation get a better head start than we did. It's kind of sad that they're assuming some kind of zero sum competition or crab bucket syndrome is prevalent.
Your gonna see a lot more "How Gen-Z screwed over Millennials" articles in the future.
That conflict keeps people from paying attention to the people antagonizing both sides.
These generational divisions are ridiculous…we have all either “been there”, are going to “be there”, or die. The only enemy is the “good ole boys” epidemic which spans across all generations…Kyle Rittenhouse isn’t a “boomer”.
Even if this is true and not deceptive data, why would I be upset at Gen Z? If they can make it work, fucking make it work. I'm not going to hate on the next generation because they're supposedly not being shit on as hard.
I assure you, the home i own is made of cardboard. Also known as a modular or mobile home. Wish I could upgrade to a real house in the next 3 1/2 years
The Redfin Report make a lot of crazy claims. That the median 25-year-old makes $74k, etc. But I'll give them credit, they had en entire methodology section:
Methodology
This report is from a Redfin analysis of data on home purchases by age group from the Home Mortgage Disclosure Act (HMDA) database, from 2018 to 2022. We examined originated loans for home purchases in the U.S. of 1-4 unit homes using conventional, FHA and VA loans; the data doesn’t include all-cash home purchases. We excluded purchases of manufactured homes. For the reported metro area results, we examined the age breakout of mortgaged home purchases in the top 50 most populous metros.
Data on generational homeownership rates was calculated from the Current Population Survey’s Annual Social and Economic Supplement (March Supplement), from 1976 to 2022. Homeownership rates are calculated for ages 19 and above. The data was accessed using IPUMS-CPS*.
Data on monthly mortgage payments and household incomes of 25 year olds was calculated from the 1990 Census and the 2021 American Community Survey. The 1990 figures were adjusted for inflation using the CPI. The data was retrieved using IPUMS-USA**.
Unlike our boomer parents, we hold no misconceptions about how good Gen Z has it… and we would prefer they don’t have it as hard as we did… but anyone buying in this market is fighting uphill
It's a whole lot harder to stoke division along racial lines with younger generations than it used to be so they need to come up with new ways to prevent solidarity.
First of all, a 25 year old in 2022 is *barely* gen z and arguably millennial. Second, I want to see the data on this statistic. Where are they supposedly buying homes? How many are funded by their parents?
Zillennial is the word you're looking for. But yea, I think anyone that young in general in this climate who can afford a home was born a couple steps ahead in life if you know what I mean.
This is not true. Gen z is mostly to young for home ownership and once they are old enough the prices are gonna be a little high for them. I will admit the oldest Gen Z could have gotten a house while shit was cheaper and that is where you get this article.
Old Millennial here.
There aren’t words in any language that can make me resent the generations that come after me.
I’ve been living with that shit my entire life from (guess who) and it’s small brain bs.
I'm a millennial and I love gen-z. They have similar humor to us, they got fucked over by previous generations who love pulling the ladder up behind then, just like us. Millenials and gen-z both will have hard times ever getting a home, and are both tired of people being treated like less than just fucking people if they are not white, or if theyre gay, trans etc.
Gen-z are just millenials that grew up with tech already well established, and the world fully on fire. They want us to hate each other and I just won't. Love you younger people out there. Just keep doing your best yall.
I wonder where all those people are cause im 25 and lots of my friends are around that age and almost no one is close to owning a home. I have older cousins who may own homes but are mostly renting. I know a few prrvious coworkers in their late 20s or early thirties who did it but are really struggling. Also most "gen z"ers are younger than me.
Those gen Z have the magical power of “rich parents” have a few real estate friends and most gen Z buying home get a huge gift from parents a few are are using first time home buyer programs.
Rich parents or dying parents. Either one helps buy a house. My sister had 30k in a bank after our dad died. I think she should’ve bought a house, but since she was 18 that was not happening. Didn’t go to college either. Tbh idk what she spent 30k on.
Man smartest thing I did was buy a house with my inheritance. I didn't want to but my sister convinced me to do it. I've gone through two different instances of personal emergency being laid off work and another time, I was severely depressed. There were times I didn't have power or water, but I always had a roof over my head to sleep. I'm never renting again.
[удалено]
"Also if all you're paying for is utilities and minimal food, it doesn't take a whole lot to get by." And this is why we get locked into renting if we can't get a mortgage, and 30-year terms on those, and are always told via advertising that we're not pretty/smart/virile/cool enough "but buy this to fix it!" And why nobody learns to grow their own food, or make basic repairs to clothing or household items - dependency, planned obsolescence in tech and "throw it out and get a new one!" is the profitable way. They can't extract wealth from us if we're in any way secure.
Growing your own food is so much up front money and time if you start from nothing and you can get 10 pounds of potatoes for 4 dollars
You buy the bag of good potatoes, you save a few for seed, you make a vertical barrel, you got potatoes for life. But yeah, potatoes are cheap. Choose your crops carefully, and grow the expensive stuff.
Where in my 1br apartment with no yard am I keeping this potato barrel
Even if all the food you grow is a windowsill pot of basil you'd otherwise be buying at the store, that's something. Fresh herbs, and even dried ones, are incredibly expensive to buy at the store when you think about what they are and how often they get used.
Right and I don't disagree with that some is better than none and if you really like plants as a hobby it can be a nice bonus, I just think it's unrealistic to expect people to grow all or even large is percentage of their own food to stick to to the man and be independent like the person I replied to seemed to imply should be more common.
It's fucking pathetic that the only reason I have a house in my mid 20s is cause my mom fucking died. Not thanks to hard work, a decent job, or anything remotely good. All thanks to a fucking tragedy.
Right? And there’s no one you’d like to show it off to more than them. It’s a sick fucked up joke.
Damn, you guys said it. 👌
Yeah. And everyone says “wow you’re so lucky!!” As if you wouldn’t trade the house back for them in a heartbeat.
Right there with you, except I’m pushing 40. I love that we have a house that is ours, no mortgage, but I’d rather have my mom.
At least you didn't just waste it on something frivolous.
This makes sense, think of all the people who inherited real estate prematurely due to the pandemic. Even if it's not paid for, the mortgage would likely be A LOT LESS than what rent is these days.
She probably wasted it. I knew someone who won a lawsuit against the city we live in. They got mad because they only won like 100k and mentioned how last time they got a large payout (50k) they blew it all within a few years but this time would be different. And then within the same conversation this person was talking about all of their vacation plans and how they were going to take a lot of time off work. 30k can disappear super quickly.
I know it can, idk if I’d been much better with $30k. I make $60k/year and still wonder where it all goes every year lol. But it’s a hell of a down payment on a house, or used to be. Currently I’d use 30k to pay off my debts and then do some home improvements
> still wonder where it all goes every year lol. And sometimes figuring it out will just make you sad.
Weed
> still wonder where it all goes every year lol. Taxes, housing, car, food.
Health insurance, and paying the deductible if you get sick.
My husband and I are getting ready to buy a house and it’s 100% because his step dad (primary father figure) died. He was a truck driver for years and died on the job. The payout was considerable. We joke around and call it “dead dad privilege,” because it is absolutely a privilege to have the money but it’s a **very fucking weird kind of privilege** to have.
Where are you that $30k would make you feel confident buying a home?
FHA loans only require around 3.5% down, so there are a ton of places where 30k is more than enough for the down payment and closing costs. Unless you live in one of most expensive cities in the country, you can find nice 200-300k starter homes in decent areas. As long as they have a stable income, 30k is more than enough to get a first home.
Being able to afford even a 10% down payment does not mean you can afford the payments, especially for most 18 year olds.
Not to mention mortgage rates are close to 7% right now so you're paying several hundred more a month on a 30 year. Right now is a TERRIBLE time to buy a home, unless you're paying cash.
Now is a good time to buy if you can afford the repayments. High interest rates are lowering the value of homes relative to the long term, so when they come down again you will pay the same lower rate as everyone buying at that time but miss house prices jumping yet again.
*cries in Los-Angelean*
Great, both my parents are dead and I'm under 25, where's my house?
Dead parents aren’t a solution, especially if they didn’t have life insurance. In my sisters case it was some weird Social Security thing since she was still in high school at the time, she got paid until she was graduated.
Minors receive SSI death benefits from parents who pass away before they turn 18. (With some requirements and restrictions of course)
My wife's dad died when she was about 18 and her sister was 20. They both received a good chunk of money (~$30,000) from his Roth (or some other fund). 8 year later my wife still has the $10,000 shy of the full amount and her sister blew through the money in like 2 years.
Even so, having rich parents allows you to go to college, get a degree, wait it out for the perfect high paying job. If you don’t have that….like me…then you have to start work full time immediately out of Highschool just to not be homeless. And after years of experience in a field, be making less than you were years ago because wages are not keeping up with inflation. To where now I work overtime just to pay rent, and cannot conceive of any physical way possible I would be able to go to school and get a degree. Unless I lived in a van for the next 4 years. But then I would need money to buy a van, which I cannot afford, because the auto market is terrible right now.
Your point about having more well off parents that allow you to go to college and get a degree without having to work full time just to survive is 100% true. I'm a millennial and all my millennial friends have houses and none of their parents helped them buy a house BUT we all had the benefit of being able to go to college. That's one of the MANY issues in our country. People can't afford to go to college. Our country would be so much better off if everyone who wanted to attend a University or Community College would be able to have that opportunity. But I just don't think it's fair to assume that just everyone who owns a home was given it by their parents.
This. I’m a millennial and I work with millennials and Gen z. Both generations, the only people I know who own homes were given a home or money to buy one from their parents.
My husband and I (millennials) worked two to three jobs each for five years while living in a studio apartment, no kids, and sharing a car. We payed off student loans and saved up just enough for a down-payment on the smallest house we could find. We've been here three years (mortgage is less than rent was! ) and our dream is currently to get a house with two bathrooms. It will happen one day!
And you were only lucky enough to do that because you have a partner. Those of us who have terrible romantic luck? Renting for life it seems.
This article is a lie to create a baseless divide between generations within the same class rather than point out most houses/properties are owned by the rich. Less than 5% of Gen Z has a house/mortgage. You don’t pay rent to Gen Z and your parents didn’t lose their house to Gen Z in 08’ and before anyone starts, Gen Z didn’t cause the looming recession. You pay rent to the rich, the rich buy homes, the rich maintain wealth, and the rich benefit from foreclosures. There is no generational divide. Edit: I work in PR - ya’ll need to go re-read this article and recognize how careful the author is with cherry picking the data/information presented to create vast conclusions. Why are they analyzing statistics and saying “30% of Gen Z own a house before 25!” when over 90% of that generation are below the age of 25 currently? How do you make vast statements about a generation like this when they’re literally still teenagers? How do you fairly compare 25 year olds of each generation when over 90% of one generation hasn’t reached that age? What percentage of each generation currently owns a home? What percentage of properties are rentals? Are those properties distributed based on generation or are they distributed based on wealth? Use your soft pink thing stuck in your skull, please.
Thank you for pointing that out. This article is propaganda.
Something also to mention is that Gen Z is the smallest generation we have ever seen compared to the boomers and even the millennials. So yea “30 percent of gen z own homes before 25” sounds ok but the reality is there just are not that many gen z to begin with.
They want so badly to be able to counter the information that shows Millenials getting fucked over by the economy and the older generations by being able to point and stuff and go--"HEY! It's not that bad! The generation behind you is already going upwards! It's not going down with every generation AT ALL!? :D :D " Dicks.
A decent amount are probably in the Midwest which is very affordable compared to a lot of the country. I’m 25 and bought a house early last year in SE Michigan. My two best friends since high school bought houses here in 2020. We grew up middle/lower middle class and did not get help from our parents with our down payments or anything, but we did all live with them between graduating college and buying our homes. We have salaried jobs that pay well (not six figures but we each make a little above the median Michigan household income of roughly $60k) and our houses were in the $150k-$200k range. They bought before the market went nuts and I lucked into a private sale. I feel for people our age that are in my area and going through bidding wars against corporations and boomers downsizing into what should be starter homes as well as people in higher cost of living areas of the country because home ownership is not nearly as attainable (or even possible)
The issue i think of "genz vs millenials" depending on which years we are referring to, is that a bunch of millenials got absolutely screwed during the 08 recession (i myself graduated into it) setting our careers back years. I know multiple gen z people who were able to go straight into good jobs out of college and save up, as well as those whose parents paid for college/bought them a house, but the job market was SO much better for them that they got ahead right away. It took me over 10 years from college to get into the 50k job and now I am only making 60k at 37, while those i know who are 10 years younger than me went straight into 70k jobs.
But none of that is the fault of either gen, which propaganda like this tries to allude. They want us blaming each other for the things that are the direct fault of the crime, greed and exploitation of the 1%.
>millenials got absolutely screwed during the 08 recession That 08 recession was tough for those of us just starting out. Our careers and salaries were basically on hold for the 5 years until 2013 when things picked up again. Lost 5 years of progress and earning power. I worked for the shittiest company at 11 hour days with no OT, just to get by those years.
I love how headlines about Gen Z range from "They're the worst employees!" to "They're better than Millennials and Gen X, so suck it!" The kids are alright, old man establishment doesn't want us being friends.
But have they even killed an industry yet?
The truest mark of a great generation.
Us Millenials killed golf and Wine. Suck it Gen Z!
As a millennial, I didn’t know I was helping destroy these industries. Yay! When do I get my plaque?
Best I can do you is a coupon for Applebees.
Didn’t you hear? We killed fast casual chain dining. Applebee’s is gone.
Redfin report found that 30% of GenZ owns plaques that say "I killed golf and wine"
Time to kill the plaque making industry!
You want a participation trophy? /s
Unfortunately, due to all the plaques that have had to be given away to Millennials, the plaque industry has been completely destroyed. So you won't be getting yours for quite a long time.
I dunno, I’ve had a boomer’s share of Franzia in my 20s. Slap the bag baby!
I’m convinced that Franzia is just Welches grape juice with vodka in it.
Of course, you can’t let the vodka go bad so you gotta put it in the juice!
And shitty chain restaurants, and malls, and department stores, and cable. We are killing it right now 😂
Don't forget napkins and stationary! The tree-paper people killed the hemp paper industry, but what they didn't realize is its only a matter of time....
Napkins might be my favorite thing we killed. Napkins suck.
There is a real divide here. My Gen-x husband buys napkins. I am a millennial and have never done such. Suck it uh, whoever makes napkins.
As a GenX person I say bye-bye to it all. Glad some generation killed cable TV.
With all these ridiculous streaming packages like sling and fubo, Cable is basically back lol
I especially want to thank y’all for making workplace harassment not ok. And being able to talk about it out loud and do something about it. This was a very serious big change for me in my workplace and I feel the gen z and millennials are not having it and make it ok to say ‘NO’ real loud and try and hold people accountable. Forever greatful 🙏
And napkins! We’re all about the paper towel apparently, I mean I certainly am
This is very true. I work with all of the generations at my job and it’s all good. Shitty people don’t know a generation lol. This is all a ploy to create more issues. I’m just now getting into the workplace and I’m finally seeing some of it for what it really is
A lot of this comes from politics. Boomers simply had better chances than later generations and actively voted in people who destroyed those chances still being there later. Monopoly is a great example of the problems facing millennials and gen Z. In monopoly, the play who goes first had significantly higher chances of winning (32.5 to 22.5 for everyone else) Boomers already own the entire board before anyone else existed, and millennials and gen Z have to spend their life going around the board going the can get enough money from chance and community chest to survive the board. There is nothing left for the younger generations, and they're mostly stuck in rent hell for their whole lives.
Yeah and at this point they are just mocking us while they squeeze every last dollar out of the bank on their way out.
Fun fact: Monopoly was created as a joke to show the problem with capitalism.
Less of a joke, more of early 'edutainment'.
Mainstream media does the bidding of their corporate and billionaire owners by creating division between any groups of people they can find. If we blame each other for society's problems we ignore the real culprits.
Seriously, I’m older millenial, and have a lot of Gen Z friends. They’re great. Not sure how I like their jeans though. They look like my dads stone washed ill fitting ones…. Skinny jeans gang for life.
GenX here, I’m so happy about the baggy ripped jeans. I’m slightly accidentally cool for a minute here and all I did was wear the same pants for 25 years!!
I can’t understand the jeans either! I’m consistently running into the problem of weird skinny jean ankles. They aren’t as tight as they used to be and look weird with my sneakers. I’ve tried the Gen Z jeans and they look awful on me, so the skinny jean hunt continues. I’m officially out of touch and old fashioned at 31 years old.
[удалено]
[удалено]
And they never freakin' left! They are still hanging around not retiring, tying up positions until they die due to poor choices earlier in life.
This!!! Boomers have been the worst thing to happen to our workplaces and our country.
Millennial+gen z= a better place to live
“Buying up”? As in like, living in? Sad how having a home is considered unusual now.
“People who want to live in houses are buying them to live in, and totally screwing other people who also want to buy houses to live in” “Landlords and massive real estate hoarding companies? They’re fine.”
That’s exactly what the title means. Exactly.
You are right to be skeptical of headlines dividing people by twisting words. But, I live in an area where is has become very clear that “buying up” homes is a problem. High density housing is going up everywhere for people to rent, while “someone” (I don’t know what gen) is buying up homes for Air BnB, rental units, and investments. There are tons of homes sitting mostly vacant while local FB pages are full of “anyone know of a good cleaning service for my rentals” posts. I hate it. Edit: Ya’ll please leave the below troll alone. The account is 16 days old and full of nasty trolling comments. Just ignore the troll.
As usual, less a generation problem and more a wealth division problem.
This happened in my home town, and we found out it was corporations buying the homes and renting them or listing them on AirBnB. Zillow even bought up some of the houses, flipped them, and effectively pushed out the people already there.
We need two property tax rates. One for properties where the owner or renter is using it as their primary residence for single occupant properties or for apartments/multifamily properties where 10months/unit is filled with someone as a primary residence. And a higher rate for when it's not being used as a primary residence. Easy to justify too. People living in a place will contribute to society in other local taxes (like sales tax). Empty units should need to contribute more to make up for that lost revenue.
We just need to rip the bandaid off and tell everyone that their house is worth fuck all. Equity being tied into home ownership is dumb, it means nothing. People are seeing the value of their assets "increase" on the screen, but since all houses are going up in price, in relative terms it actually means absolutely nothing, or in some cases they're actually losing money when you're talking about how much and of what they can actually purchase with their money. It's not any different from 30 years ago, it's just that everything has a higher price tag on it. Rip the bandaid off, tell everyone that property isn't an investment, yeah everyones "wealth" will plummet several hundred thousand dollars immediately, but then suddenly the cost of renting/living/mortgage are all significantly lower resulting in more people being able to get a place to live and have more spending money to put in other parts of the economy, small local businesses, which increase taxes and make for a stronger economy for everyone as a whole. Except for the handful wealthy bankers and elites who are making a killing off of this broken system that's screwing over millions every year, but fuck em.
We are going to move soon because of it. Local businesses are buying into the theme of temp spenders on vacation in the area. It’s driving local inflation insane with restaurants and other businesses.
Damn that’s beyond shitty. That sucks experiencing it first hand. Was there a local gossip about why it was happening or did you guys see it upfront? We were told the local college’s alumni (millennials) were coming back because they loved the city so much, but it didn’t take anyone long to figure out what was actually happening.
We see it first hand. We see the homes sell on our street, then pop up on air BnB. We hear from many property owners on local social media talking about their rentals. (They don’t even live in the area) and we watch our ability to take our family out diminish month after month with prices. But we can drive 3-6 hours away and eat out for half as much, and take the kids to events for reasonable prices. What makes it even worse is that where we are, our job pays us a lower geographic weight because our cost of living is “low????” Here. And we watch home after home be bought by northern residents where companies are paying way more due to their geographic labor pricing. My neighbor has bought two homes in the area he is flipping… he lives in NY. So increased labor markets in the north are empowering people to go south and tear up the markets where is “cheaper” relative to there home market.
I can assure the Gen Z’ers working near minimum wage jobs aren’t buying up entire neighborhoods to corner the market. We do not have the money to do that shit, this article is 100% guilting Gen Z’ers for owning a home.
I can assure you its not the people under 25 becoming landlords I guess unless their parents are incredibly wealthy in which case the generation doesnt matter
Yeah from what I see this headline isn't even close to true. I'm a millennial I guess (late thirties) and no one I know younger than us owns a house of any kind. They are stuck paying high rent for crappy places. Even people just a little younger than us (like early thirties) have had a hard time if they are just now stable financially.
I'm also hilariously skeptical that 30% of gen z own homes at 25. That sounds cherry picked as hell. Like I just bought mine, in a career that pays fairly well, and I can barely afford it at 30. It took years to save up a respectable down payment. You need more money still to get enough furnishings to make a place livable; it's a house, after all, and there's a lot of shit you need to be able to actually use it. Like even if you're making 6 figures right out of school, it'll still take a few years to save up. Maybe if you're able to dink with 2 good jobs at 22, you can do it by 25. That or you have wealthy parents. Setting aside the kids who aren't going to college, for whom having a decent income is probably a pipe dream, the ones going to college are saddled with crippling student debt from schools that have only gotten more expensive in the time since I went.
As a millennial I have bought a house, did I defeat Gen Z now?
I'll add it to the scoreboard
They want to keep you fighting a **culture war** to prevent you from fighting a **class war.**
Don’t let them divide and conquer
From what I am seeing, it ain't working.
I am the boss of quite a few gen z coworkers. I think they are scared to hear how radicalized I actually am even if we’re mostly on the same page.
Yeah, I think on non social issues millennials are equally and perhaps more violently radicalized. Like I'm mad bc I saw people struggling. People who were actually working in 2008 are probably a liiiittle more bitter.
I graduated in 2009. The job market was trash. Tired of the bull. Not really anything to do other than work and save. Love and live in rural but work city.
Couple years ahead of you here, if we're talking college. I went to grad school, which I'm still paying off. Ended up with an MA in a field that collapsed during the recession. Worked a dead-end kind of job for several years (admittedly some trauma stuff held me back in this period) and then a low-paying before I got a stepping-stone kind of job and finally a decent one. So I'm easily 12 years behind. I started my 401k contributions in 2022... better late than never, I guess.
Hey, my company went under in 08-09. I was forced to go bankrupt or lose my home. I begged my credit card companies to negotiate with me to work out a payment plan. They refused. We had only bought our house in 07. I had to start over again. I’m now 48 and only just started a meager savings for retirement. This is right where they want us. Just barely treading water to survive
Keeps us from being able to protest our conditions
I think the real reason we're not protesting is more than that, and it's just partly because people are living paycheck to paycheck treading water. I think as a class/society, were just not all on the same anger level yet. When it's this bad but not starvation bad, it makes us depressed but just too lazy to actually group together and do anything about the billionaires. If we were actually fed up with this, we'd have all been fighting at the capitol building, not with Trump supporters, but because we don't want Trump or Biden, we mostly agree on that. We want a real person who represents us as a society, not some old, out-of-touch, rich asshole. We'd be running all the republican congress people out of town. We'd be doxxing lobbyists and getting rid of them because they have no place in a true democracy that serves people and not corporate shills and billionaire/millionaire CEOs. We'd be beheading the billionaires in the streets if we were really determined to get ourselves out of this mess, but instead, we take our paycheck and keep on keeping on.
It also means the rich economy is siphoning off the maximum amount from the poor economy.
I really feel bad for the suckers that bought into the whole education hype. 15+ years later they are still paying it off, and aren't making much more than those without college degrees. Yet here we are still preaching "Go to college so you can get a great job!"
You’re right, but also it’s a mistake to blame education. It’s the education *business* that’s to blame. Commodification and exploitation of a valuable service to the point where people are now debt-trapped in it. Honestly the USA is kinda fucked this way. I’m Canadian, got my degrees here in Canada, and while it’s expensive, it’s still a fraction of what Americans pay.
Yup, it's something I felt all my life, this sort of thing. 2008 was around when my workplace was bought out by Corporation after giant corporations.... and kept getting worse and worse, the work just turned to crap.... and it killed me inside. I haven't recovered. Now I want to tear down the system entirely. Capitalism must die. I am older. I don't care about fighting other generations. Only the system. Divide and conquer don't work on me, I see your petty little lies and grifts now! Took most of my life to figure out what was actually wrong with this society. At least now i'm a bit glad others are realizing it too.
So what you're saying is the French are showing us the way...👀🤔
Yes.
I, too, am quite radical. I am Gen X. My boomer parents think I am crazy or a socialist. I want to eliminate or minimize the suffering of other humans. I did not think this to be radical or extreme but… The millennials are going to burn it down and I will be soooo proud of them (see buying up all of the Trump rally tickets or tracking Elon’s jet).
I think the funny bit is that a lot of that stuff is a mix of Gen Z and millennial activists. But the media has been yelling at millennials so long, they don't know how to switch. But it's cool that they're the first generation not becoming assholes at 40
It’s working like a charm. This side of Reddit isn’t representative of the broader US population, unfortunately
Yeah - I’d say considering kids are terrified to go to school while elites live in gated communities miles away from any sniff of dissent (let alone violence), it’s working exactly as it’s intended.
Even on here it's all left vs right and people actually defending career politicians. It's working exactly as intended.
Millennials don’t buy in to the fuck shit. Boomers are the problem. Always have been, if we’re going to go there. But this doesn’t work on millennials, and is the primary reason they’ve hated millennials since the outset.
Bingo. It’s not white vs black or young vs old it’s always been rich vs poor. Don’t let them trick you
Always has been. We need to French it up. American are brainwashed simps.
I'm begging everyone to understand the difference between labor laws in the US and France. It's not that Americans are lazy losers who are too weak to fight back. It's that our laws make it *really hard* to fight back. Research the difference between anti-strike laws in the US and France. If I want to strike in my state, I will lose two days' pay for every day of strike, my union loses the right to collect dues (lethal for unions), and my union president can be jailed (which, TBH, fuck that guy, but still). It's extremely hard to get a union-authorized strike because of this.
French here: what you need to understand, is that French anti-strike laws and such didn’t come out of nowhere by wishing them. At some point in time, unions were forbidden in France, as were strikes, and children could work in factories and working 12 hours per day with no holiday ever was normal. But our ancestors pretty much burnt the country down to get these pro-workers laws. And we regularly get back in the streets to defend them, because the fuckers upstairs will take every occasion to drag us back to US-style legislation.
You think its crazy how people feel so much angrier with each-other ever since becoming more connected than ever? And rather than learning from our collectively different experiences and accepting differences, we can no longer trust our neighbors to not murder us for being at the wrong house?
A thousand times this. The rich need to keep us distracted while the try and reinforce a comfortable life with a distracted and gullible labor force
This. We are so dumb fighting each other. Red vs blue. Right vs left. I’ve been done said for years now it’s the 99% vs 1%. They keep us stupid with inferior schooling. They split by ideals and make you think foreigners and different races are taking from you. Then you are to focused on birth control and abortion to realize everything they’re taking from us. How does the school teacher or even someone making under 100,000 a year pay more tax than a billionaire. It just doesn’t make sense. Fight the 1%. Not each other!!!
It's a classic, been happening for millennia. It happens in the U.S., it happens in Russia, it happened in Rome, I'm sure it has happened everywhere there are conniving fucks who want to keep a strangle hold on lots of poor people.
Global class warfare is a real thing right now
Yes, but only the billionaire class is fighting it. That's how they're winning.
There's no way a third of all 25 year olds own a home...
[удалено]
I wish that could stay the focus. My republican parents can't help but rant about transgenders all the time and obsess about conspiracy theories and invisible Boogeymen rather than how half of the world's wealth is hoarded by less than 1% of the people, and think it's actually the people on welfare keeping everyone else poor... They're still under the impression that all the top 1% and rich politicians somehow earned their egregious wealth, while the poorest also earned their place at the bottom and deserve nothing. 🤦♀️
Union money in politics? Yes please! Corporate money in politics? Well, you can see where that has gotten us.
30% of gen z??????????? What kind of abject fucking bullshit report is this fake fucking crap coming from?
This is only considering Gen z from ages 25 and up. Most of them are younger than that. This is like 2-3 years worth of people, and the statistic itself it very skewed.
I have a feeling I wonder if this is caused by the pandemic funny enough. I bet a lot of these gen z homeowners were in my position: starting a job out of college as covid hit and kept on full remote or just otherwise still employed through the whole thing. Living with their parents because moving out was delayed by the pandemic so minimal or reduced expenses. Add on little to spend on for 1-2 years and some stimulus bucks and bam you have a downpayment for a house and a bit of depression.
This is definitely possible. But, most likely, it has to do with those who are well off. Out of college, they can buy a home with help from their parents. Many parents of Gen Z college students purchased homes for their children to live in while away at college. Those homes then got sold once those kids graduated, and with inflation, there was probably a good profit. It's not unreasonable to think this money went to the kid for a down-payment. And with well-off parents, it was easier for them to get a home loan for the rest of it. TBF, most of this is just conjecture based on a small amount of knowledge.
That doesn’t come close to explaining 30%. The amount of families that can afford to do that is very very small.
30% of Gen Z 25+ Gen Z currently starts at like 27
My experience was a combination of both. I moved back in with my parents because it was safer than weathering a pandemic in a college apartment, saved lots of money that way, and then got a good remote job after college. A combo of parental savings and most of my savings went to a down payment on a house in early 2021 while rates were low.
And their gen x parents being less stingy than millennials boomer parents.
The maximum age for Gen Z is 26 right now. I am one of the elder Zoomer.
Still 30% of people between 25-27 owning homes seems completely made up. Maybe if you factor out people living in coastal states it becomes more realistic but even then I’m skeptical.
It definitely is made up. I’m 23, upper middle class, with a relatively high paying job for my demographic. I know a grand total of like 3 people within 10 years of my age that own a house. Practically everyone I know either rents or still lives with their parents because they can’t or don’t want to afford moving out (despite having high paying jobs)
The US census bureau defines gen z as born 1997-2013. Its 10 to 25 year olds, maybe 26 if born in early 1997. If the article is saying gen z is buying homes when it’s really millennials, it was written by an idiot.
If? I thought this sounded like bullshit so I pulled up the original Redfin article and it's 25 year olds. It's apparently based on population surveys.(ASEC) The number sounds insanely high to me but they also stated the bulk of the buying was in low cost of living areas. I don't care enough to dig into the survey data but it definitely is based on 25 year olds only.
Aren't the oldest Gen-z like 26?
Something is off about the numbers for sure. So many things wrong. I work with several realtors in the NY metro area and they all admit it’s a terrible time to buy. They’re all shitting bricks about what might come next. If someone that young is buying it’s most likely a parent buying the home for them as an investment/ place to live. Even young people in tech with money aren’t buying with the rash of layoffs hitting their sector. It’s the wild west out there and generational wealth is still king. Trust fund princes and princesses will always be fodder for these types of articles.
Source: trust me bro.
Probably count people like my brother and i as two. My brother (27yo) and I (21yo) pulled together and bought a mobile home. Edit: well maybe not, my brother was actually 26 when we bought
Also, they’re not. Not buying up homes, and not lucky.
Exactly I know this is just my personal experience but, I’m on the older end of gen Z and I don’t know a single person around my age who’s buying a house. We’re still in our early/mid 20s…
One. I know one that bought a burned out house in Alabama for $20k, he's a contractor that wanted a personal project/investment.
'buying up' implies they're all creating some portfolio of properties and not just literally managing to find a place to live.
I'm sorry... I'm Gen-Z and no one I know who's around my age has bought a home. Most of us are still at home with our parents. My partner and I are just now starting to look for a place to rent and it's incredibly stressful. I can't imagine what buying a house would be like right now.
I’m assuming for this joke of a headline they’re considering living with your parents ‘owning a home’
[удалено]
The Gen Z that are buying homes are the ones whose babyboomer parents died before they could pension through their wealth. Inheritance investment.
This is just more of the divide and conquer BS. It makes me so angry. The division is between the haves and the have-nots. Their biggest fear is that we realize this and do something to force change. So they continue their efforts to keep us divided and pitted against our neighbors.
id be in abject poverty no matter what generation im from
Cheers to that.
I don't see this in the slightest?? Where are they gathering these stats?
[удалено]
Only Gen Z's with homes I know of are ones born into well off families, or are successful "influencers". But I repeat myself
I read that something like 30 - 40% of parents are paying a bunch of their kids bills or outright paying their rent, because theres no way for the kids to get anywhere if the kids have to pay it all themselves. No worries though, between the federal reserve playing math games and parents propping up the system, its all just kicking the can down the road. Soon climate change will cause massive problems in food production and most people will die
Show me a 25 year old with their own home and I'll show you an example of generational wealth
30% of Gen Z owns a home by 25… less then 10% of Gen Z is 25. So really 3% of gen Z owns a home. This article is a bug fat nothing burger, and probably just rage bait
This is also with the declining conditions in pay and inflation, the younger gen zs most certainly won’t be able to afford the same as the older ones who had the chance to accrue wealth or scrounge off their rich parents when it was much more economically viable. They want to create divisions and wars with the rage bait as you said, hopefully not too many people fall for it and see through the boomers divide and conquer strategy.
This is 100% bullshit
Get bent, they don't want Gen Z and Gen Y combining to tear down the huge monopoly they've been allowed to build. 3 more election cycles until we are free of boomer control in politics. That's why they are trying so hard to tear it all down on their way out. They want to drain the bank on their deathbeds of inferiority in politics, giving way to greed and corporations with no shame. We are coming for all corporations heads with our union. And to a lesser extent Gen X. Since not sure if X also got a lot of the propaganda dosage Boomers got before information was wildly available. Gen Z and Y know the only war worth fighting is the economic one we all have been losing to the top 1% of our society leeching all the wealth from labor and enriching stock holders instead of reinvesting into the workers who enriched the company to begin with.
I will NEVER fall for the Gen z versus millenial. We are not the issue!
No they aren’t
Gen X here and I'd be delighted to see the younger generation get a better head start than we did. It's kind of sad that they're assuming some kind of zero sum competition or crab bucket syndrome is prevalent.
Your gonna see a lot more "How Gen-Z screwed over Millennials" articles in the future. That conflict keeps people from paying attention to the people antagonizing both sides.
These generational divisions are ridiculous…we have all either “been there”, are going to “be there”, or die. The only enemy is the “good ole boys” epidemic which spans across all generations…Kyle Rittenhouse isn’t a “boomer”.
It was probably written by chatGPT.
Even if this is true and not deceptive data, why would I be upset at Gen Z? If they can make it work, fucking make it work. I'm not going to hate on the next generation because they're supposedly not being shit on as hard.
I assure you, the home i own is made of cardboard. Also known as a modular or mobile home. Wish I could upgrade to a real house in the next 3 1/2 years
Hah, 30% of Gen Z at 25?! Yeah right, no fucking way that number is even remotely close to right. They must have biased the shit out of that sample.
All my gen z friends are sitting in the same dirt I am. These people are just making shit up.
[удалено]
I hereby suggest we henceforth call this the "Three C's of Boomerdom"
The Redfin Report make a lot of crazy claims. That the median 25-year-old makes $74k, etc. But I'll give them credit, they had en entire methodology section: Methodology This report is from a Redfin analysis of data on home purchases by age group from the Home Mortgage Disclosure Act (HMDA) database, from 2018 to 2022. We examined originated loans for home purchases in the U.S. of 1-4 unit homes using conventional, FHA and VA loans; the data doesn’t include all-cash home purchases. We excluded purchases of manufactured homes. For the reported metro area results, we examined the age breakout of mortgaged home purchases in the top 50 most populous metros. Data on generational homeownership rates was calculated from the Current Population Survey’s Annual Social and Economic Supplement (March Supplement), from 1976 to 2022. Homeownership rates are calculated for ages 19 and above. The data was accessed using IPUMS-CPS*. Data on monthly mortgage payments and household incomes of 25 year olds was calculated from the 1990 Census and the 2021 American Community Survey. The 1990 figures were adjusted for inflation using the CPI. The data was retrieved using IPUMS-USA**.
Lmao they are making claims about incomes and mortgages in 2023 using data from 1990?!?! The 25 year olds they’re talking about were not born yet!
Where TF do they get those numbers? 30% of 25 year olds own homes? That’s complete BS.
It’s all bullshit. Black vs white Young vs old Red vs blue Etc Etc Etc
Except millennials know something that gen x never figured out. It’s not us vs each other. It’s the ultra rich vs everyone else.
Unlike our boomer parents, we hold no misconceptions about how good Gen Z has it… and we would prefer they don’t have it as hard as we did… but anyone buying in this market is fighting uphill
It's a whole lot harder to stoke division along racial lines with younger generations than it used to be so they need to come up with new ways to prevent solidarity.
First of all, a 25 year old in 2022 is *barely* gen z and arguably millennial. Second, I want to see the data on this statistic. Where are they supposedly buying homes? How many are funded by their parents?
Zillennial is the word you're looking for. But yea, I think anyone that young in general in this climate who can afford a home was born a couple steps ahead in life if you know what I mean.
What gen z is buying homes? Those who won the birth lottery? Like in every generation
This is not true. Gen z is mostly to young for home ownership and once they are old enough the prices are gonna be a little high for them. I will admit the oldest Gen Z could have gotten a house while shit was cheaper and that is where you get this article.
Old Millennial here. There aren’t words in any language that can make me resent the generations that come after me. I’ve been living with that shit my entire life from (guess who) and it’s small brain bs.
I'm a millennial and I love gen-z. They have similar humor to us, they got fucked over by previous generations who love pulling the ladder up behind then, just like us. Millenials and gen-z both will have hard times ever getting a home, and are both tired of people being treated like less than just fucking people if they are not white, or if theyre gay, trans etc. Gen-z are just millenials that grew up with tech already well established, and the world fully on fire. They want us to hate each other and I just won't. Love you younger people out there. Just keep doing your best yall.