[quote=The-Shoveler]The difference is the whole region (not just the coastal area’s) are becoming a increasingly growth averse a lot more than it ever was in the past.
We are building about 1/2 Normal pace after coming off a period of almost no building for the last 5 years.
Then you got the largest generation in history turning 24-25 or so.
Whatever it’s going to be tight.[/quote]
The 24-25 year-old set . . . as well as the late-twenties set are just getting started in their careers. This group doesn’t mind living in rental units with roommates (even multiple roommates).
They’re not yet looking to buy or rent a place on their own. At least not in coastal CA, where there is good money to be made for a finite amount of years/decades. They need to make (and save) money while the getting is good.
Both of these age groups in rural or semi-rural “flyover country” are more likely to be already coupled up … with kids. But housing is much cheaper there.
CA doesn’t need anymore housing. Millenials need to get their heads on straight and accept the existing housing on offer in the locale they are working in …. just like SV workers have had to do since the beginning of the “dot.com era.”
Boomers accepted the housing on offer in their respective locales in an era of very high interest rates and nearly zero-percent residential building. Millenials can do this IF they are able to lose their pervasive “entitlement mentality.”
