Slashdot Mirror
80% of Millennials Say They Want To Buy a Home -- But Most Have Less Than $1,000 (cnbc.com)
An anonymous reader writes: Millennials aren't buying homes in the same numbers as previous and older generations, but it's not because they don't want to. The vast majority of millennials do indeed aim to buy someday, or would even like to now if they could. Unfortunately, the numbers don't look good. New data from Apartment List shows that, although 80 percent of millennials would like to purchase real estate, very few are in a good position to buy, largely because they have nothing saved. According to the report, '68 percent of millennials said they have saved less than $1,000 for a down payment. Almost half, or 44 percent, of millennials said they have not saved anything for a down payment.'
I'd prefer to wait till this new bubble pops. Millennials being this poor is a bad omen for the future economy, and prices will fall accordingly.
I would mod you up for being reasonable and intelligent...
Though I disagree a little bit. There are places you can hide and stay stable for long periods of time. Try doing IT for a stable manufacturer. They are out there. That's what I did.
After spending time in the "big league IT world" in, or associated,with silicon valley, I decided my last job before retirement would be at a successful commodity manufacturer. It worked. There are people here who have worked for 40 years in this company.
Though I did a lot of research of the local companies before trying for a position. And when I got the position it was as a tech rather than my usual executive/IT Director type gig. It's a big pay cut. I have good benefits. And drive 12 minutes to work with no traffic in a small town setting.
Successful manufacturers are hurting for IT people.. especially outside of major cities. They regularly promote from within, pay a lot less, and exist in rural or semi-rural areas.
Seems to me my lifestyle is about the same as it was in San Jose or Cupertino. A movie, popcorn, and a drink is less than $10.00 at the first run theater.
But the fun part? If you've held some decent positions and come out to the country with a fat resume.... suddenly you are a very big fish in a small pond. It's nice. And if you are struggling in a major metro area.... the undiscovered hinterland is bleeding for talent.
Keep an open mind... It's out there...
Another consultant who stuck it out.
"We are the Priests, of the Temples of Syrinx..."
Indeed. I got my first job in the 1970s. I clearly remember many of my co-workers constantly complaining about being broke. Financial incompetence is nothing new and I have seen no evidence that it is worse with millennials.