[quote=yamashi1] . . . BG not sure where you live, but I’m sorry that this is the sample of Millenial that you are exposed to. If I were in your position, I would feel the same way about our generation as you. Trust me, this is NOT a good representation.
Most people that I associate with either own their home, or rent and CHOOSE not to. They either have 1/2 kids, but don’t know many that have 3 and NONE that have more.[/quote]Well, it didn’t used to be like this, yamashi. Starting about 2008, “buy and hold” flippers began coming in here and buying and rehabbing longtime rentals and leasing them out. I was glad to see this, actually, because these rentals were getting really run down (50 yo roof, etc). Some had been purchased as “investments” during the “loose lending” era, never had any improvements made to them and were subsequently lost in foreclosure (or about to be lost) when acquired by the flipper teams. In the past ~5 years, 3 longtime (50+ yrs) remaining homeowners died, leaving the home to their “heir(s)” who lived across town or in another county and who came in with their crews and tools, rehabbed the parent’s home and immediately leased it out (these homes had avg tax bills ~$500 yr pursuant to Prop 13 so it cost them practically nothing to keep it). So we have now have families headed by millenials occupying these smallish rental homes who are likely paying $1600 to $1800 month for them. The largest family is the one that owns their home and that home is quite large (2700+ sf).