The Affordability Crisis: What Happens When Millennials Can't Afford to Buy Homes?
[{"id": "d2btt8y", "text": "Well when wages have been stagnent and not risen with inflation is this a surprise? ", "replies": [{"id": "d2bwdoq", "text": "&gt; Well when wages have been stagnent and not risen with inflation is this a surprise?\n\nThere is much more to it than this above. I am not saying it isn't part of it.", "replies": [{"id": "d2byx2r", "text": "Student loans and rising college costs are also a big factor.", "replies": [{"id": "d2bz0om", "text": "That is part of it but it isn't just wages, student loans and rising college costs. It is a bunch of other things as well.", "replies": [{"id": "d2bz5th", "text": "Agreed. It's complex. Millennials still catching up from entering the job force during the great recession is a factor too. Some studies show that as a cohort, they will never catch up as a result. ", "replies": [{"id": "d2crqre", "text": "I suspect that in about 3-6 years we'll see some controlled deregulation in the mortgage sector that is specifically geared towards dealing with the effects of this, and sometime in the latter half of the next 10 years, a massive overhaul on student loan financing and regulations.", "replies": [{"id": "d2cyt47", "text": "There are now more than $1,200,000,000,000 in student loans in the US. Something's got to give.", "replies": [], "depth": 7}], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}, {"id": "d2byxh8", "text": "There really hasn't been much of any inflation though.", "replies": [{"id": "d2h12q1", "text": "And in many markets home prices are also not keeping up with inflation.", "replies": [], "depth": 3}], "depth": 2}, {"id": "d2d0ffe", "text": "No surprise. ", "replies": [], "depth": 2}], "depth": 1}, {"id": "d2bwb7h", "text": "You will get better discussion here /r/Economics.", "replies": [], "depth": 1}, {"id": "d2d0gsd", "text": "For many, the thought of saving $20K-$50K for a downpayment seems like the impossible dream when you're $150K+ in debt. Homeownership is just \"this thing our parents did.\"", "replies": [], "depth": 1}, {"id": "d2df9yg", "text": "What happens? They rent from Blackstone.", "replies": [], "depth": 1}]