The popular question of renting vs owning. For Millenials which most MGTOW are, it hasn’t been working out. The following article is tragicomic in its efforts to describe the problem without noticing the pink elephants.
Almost 70% of millennials regret buying their homes. Here’s why
By Megan Leonhardt, 19 July 2018
Millennials aren’t exactly jumping for joy after purchasing their homes.
About four in 10 millennials are already homeowners, according to a new survey of over 600 millennials (age 21-34) by Bank of the West. Yet it turns out that 68 percent of them are feeling buyer’s remorse — almost double the amount of Baby Boomers who say they have regrets.
“Millennials are so eager to become homeowners that some may be inadvertently cutting off their nose to spite their face,” says Ryan Bailey, head of Bank of the West’s retail banking.
The author blew past the first reason. 40% of age 21-34 are homeowners? Statistically, they haven’t even finished paying student debts! I bet the Millennials who didn’t overextend themselves on student debt aren’t the ones overextending themselves on a mortgage.
Here are the biggest areas of remorse.
Overspending on the down payment
Roughly four in 10 millennials felt they made poor financial choices when it came to purchasing their home. [GQ: The article title said 70%..?] Part of the problem seems to revolve around the down payment. The survey found one in three millennials dipped into their retirement accounts to pay for their homes — a trend Bailey calls “alarming.”
They’re building retirement accounts in their 20s? Mostly women, I suspect. They’re the ones who have free money flung at them in their 20s whereas Millennial men tend to not be even financially stable until their 30s when they have their career training done and accumulated the magical “five years of experience”.
To keep from getting squeezed, think about what you can afford as a monthly payment, and don’t forget to include taxes and insurance in your calculations, Danielle Hale, chief economist for Realtor.com, tells CNBC Make It.
Yep. “Danielle Hale, chief economist for Realtor.com”. A female in male space giving wisdom that no sane man could possibly need.
SLUUUT! Did she become a chief economist for a major realty outfit by giving “To keep from getting squeezed, think about what you can afford as a monthly payment” advice or by sucking Boss Cock? You can see the answer in her eyes. Attractive sluts are the only twentysomethings who already have such a fat retirement account that they can instead purchase a house with it… attractive sluts LARPing as experienced men.
Underestimating ongoing costs
When you buy a home, the expenses don’t stop once you move in.
Millennials understand basic costs, such heating and electric bills, but Bailey recommends also considering how much time and money it could take to mow the lawn, clean the house or deal with leaky faucet.
I clean my apartment and handle most leaky-faucet type issues myself because it’s either my mess or less bother than calling up the landlord and scheduling a repairman. Mow the lawn? In Commiefornia, it’s a crime to water the lawn.
Settling for something that’s not quite right
OH COME ON, BARBIE! Bitches gonna be the death of us.
Finding the right fit is as important as having the right budget when it comes to home ownership. The survey found that about half of millennials had regrets about the home itself.
One in five said they were frustrated by damages they found after moving in, while others said they discovered the house didn’t end up working well for their family.
One in five get an apology for my outburst, although not discovering problems hidden during due process is still not “settling”.
Let’s touch on some less-approved reasons why home ownership can be a bad decision these days:
1. You must know what you’re doing.
Yes, you can hire inspectors and handymen and financial advisers and realtors to ensure everything is being done right. That gets very expensive, however. Property ownership is unlikely to pay off unless YOU are the expert you need.
2. Neighborhoods can change dramatically.
From Section 8 horror stories to jobs being sent overseas to where the State Department unloads its next shipment of Somali Muslims, that dream location can become a nightmare literally overnight.
3. Frivorce means she gets the home and you get the mortgage.
4. Real Estate has been in a bubble since 2004.
Prices didn’t reset during the 2010 depression. I was looking for an opportunity myself at the time but a couple trillion dollars of TARP and other gov’t manipulations ensured it didn’t happen.
5. Death of marriage.
Now that men and women don’t often live together in the same housing unit, demand for housing has artificially doubled.
6. Illegal immigration.
Even when migrants live twenty to a room, it’s still a better life than Shittistan. Of course, illegally living twenty to a room and thus overloading the sewer system at the same time the white male engineers are kicked to the curb is how one makes a new Shittistan.
7. Baby Boomers are about to die off en masse.
John “Fuck America” McCain was only the beginning.
It’s entirely your choice whether to rent or own. Me, I see what a mess property ownership has become and am pleased to limit my risk exposure to a monthly sum with option to eject.
Perhaps someday, I’ll upgrade to an RV. Now there’s a growing job field for young MGTOWS: RV-specific mechanic. Lots of homeowners in urban Commiefornia rent their side yard to a guy in a trailer. The only infrastructure needed is water/electric hookup and an accessible bathroom. The renter maintains his own quarters so it’s an easy rental option for non-handyman homeowners.
Also, mortician and related services might be a good field to enter.