Millenials will not save the housing market

[eridani]

http://www.doctorhousingbubble.com/millennials-will-not-save-the-housing-market-50-percent-millennials-save-1k-or-less/

Contrary to anecdotal Taco Tuesday baby boomer nonsense, Millennials are not in any position to save the housing market. Millennials have differing priorities some based on generational trends but some being driven by economic necessity. The vast majority of the $1.3 trillion in student debt is being carried by younger Americans, not older baby boomers who went to college when state schools were nearly free and private institutions were dirt cheap that you could work at a fast food joint and pay for your annual tuition. It was also a time when buying a home wasn’t some giant global speculative gamble. Today we have markets where investors dominate, foreign money is king, and flippers are house humping their way into leased cars and plastic surgery. In California, 2.3 million adults live with their parents. As things improved, some went out and formed new households as renters. Some pundits think that many of these people were saving big bucks living at home with their parents but the latest survey shows the exact opposite. 50 percent of Millennials have less than $1,000 in savings. And these are the people that will buy $700,000 crap shacks that were built during the Great Depression?

[Sherman A1]

1. Precisely

I don't see this group or the next one being able to have a similar standard of living as the baby boomers particularly with regard to housing. As stated too much student debt combined with low paying or no jobs available combine to make their (and all of ours) future look rather bleak.

[global1]

2. There Will Probably Be A Housing Resurgence When Their Boomer Parents Die Off And...

leave their nest eggs to the kids.

[Sherman A1]

3. Possibly

assuming there is a nest egg to leave and in many cases there will not be. I am in hopes that when my time comes I will leave enough behind for my spouse and then perhaps some for the daughters, but that is no safe bet.

[tech3149]

4. What nest egg?

Srysly! That money is gone, down the rabbit hole. It doesn't matter if it was medical expenses, home repair bills, or just the outrageous increase in the cost of eggs and milk. For most of us that money ain't there.