First time buyers

[Anonymous]

[quote=temeculaguy]On foreclosure.com if you run 92592 and look at pre-foreclosures and sheriff sales, it lists the names, maybe half are inidan or asian names, while they are less than 10% of the demographics. I know every street and it’s tract, the numbers are even more suprising when looking at bubble built tracts, maybe 80% indian or asian. I think that their diligence may have been their undoing, allowing them to buy during the bubble and the supposed bottom of 2007. They caught a lot of knives, perhaps because they were the only ones with the ability to do so. We can learn a lot from their cultures and their diligence, in this case it seemes to be just bad timing.[/quote]

Sorry ..didn’t find a single Indian name.

[cr]

I don’t think the majority of 20 somethings, even early 30-somethings have immediate plans to buy.

This demographic grew up with MTV, and will spend money on cars, clothes, and cell phones before saving for a down payment. Certainly not all, and probably none of us on these forums but I only know a small handful of people saving for a house.

It’s not necessarily that they don’t have the income, though many don’t, it’s more the mindset.

The idea of owning a home by the age of 30 in CA is fading IMO. People are pushing back marriage, kids, and home buying in favor of a comfortable lifestyle. They know homes are too expensive, so why try. Then there’s the issue of financial responsiblity. Those in this grouup that went to school are most likely in debt, and most if not all owe big time on credit cards.

All the more reason I think despite the quick correction we’re seeing, it will still drag on for a while.

I think there aren’t as many sideline sitters as the RE industry thinks. The few there are more than likely got out early-bubble to wait. First time buyers are few, and probably mid-30 dual income couples. You simply can’t afford an average CA home on an average mid-30’s single income.

[cr]

I don’t think the majority of 20 somethings, even early 30-somethings have immediate plans to buy.

This demographic grew up with MTV, and will spend money on cars, clothes, and cell phones before saving for a down payment. Certainly not all, and probably none of us on these forums but I only know a small handful of people saving for a house.

It’s not necessarily that they don’t have the income, though many don’t, it’s more the mindset.

The idea of owning a home by the age of 30 in CA is fading IMO. People are pushing back marriage, kids, and home buying in favor of a comfortable lifestyle. They know homes are too expensive, so why try. Then there’s the issue of financial responsiblity. Those in this grouup that went to school are most likely in debt, and most if not all owe big time on credit cards.

All the more reason I think despite the quick correction we’re seeing, it will still drag on for a while.

I think there aren’t as many sideline sitters as the RE industry thinks. The few there are more than likely got out early-bubble to wait. First time buyers are few, and probably mid-30 dual income couples. You simply can’t afford an average CA home on an average mid-30’s single income.

[cr]

I don’t think the majority of 20 somethings, even early 30-somethings have immediate plans to buy.

This demographic grew up with MTV, and will spend money on cars, clothes, and cell phones before saving for a down payment. Certainly not all, and probably none of us on these forums but I only know a small handful of people saving for a house.

It’s not necessarily that they don’t have the income, though many don’t, it’s more the mindset.

The idea of owning a home by the age of 30 in CA is fading IMO. People are pushing back marriage, kids, and home buying in favor of a comfortable lifestyle. They know homes are too expensive, so why try. Then there’s the issue of financial responsiblity. Those in this grouup that went to school are most likely in debt, and most if not all owe big time on credit cards.

All the more reason I think despite the quick correction we’re seeing, it will still drag on for a while.

I think there aren’t as many sideline sitters as the RE industry thinks. The few there are more than likely got out early-bubble to wait. First time buyers are few, and probably mid-30 dual income couples. You simply can’t afford an average CA home on an average mid-30’s single income.

[cr]

I don’t think the majority of 20 somethings, even early 30-somethings have immediate plans to buy.

This demographic grew up with MTV, and will spend money on cars, clothes, and cell phones before saving for a down payment. Certainly not all, and probably none of us on these forums but I only know a small handful of people saving for a house.

It’s not necessarily that they don’t have the income, though many don’t, it’s more the mindset.

The idea of owning a home by the age of 30 in CA is fading IMO. People are pushing back marriage, kids, and home buying in favor of a comfortable lifestyle. They know homes are too expensive, so why try. Then there’s the issue of financial responsiblity. Those in this grouup that went to school are most likely in debt, and most if not all owe big time on credit cards.

All the more reason I think despite the quick correction we’re seeing, it will still drag on for a while.

I think there aren’t as many sideline sitters as the RE industry thinks. The few there are more than likely got out early-bubble to wait. First time buyers are few, and probably mid-30 dual income couples. You simply can’t afford an average CA home on an average mid-30’s single income.

[cr]

I don’t think the majority of 20 somethings, even early 30-somethings have immediate plans to buy.

This demographic grew up with MTV, and will spend money on cars, clothes, and cell phones before saving for a down payment. Certainly not all, and probably none of us on these forums but I only know a small handful of people saving for a house.

It’s not necessarily that they don’t have the income, though many don’t, it’s more the mindset.

The idea of owning a home by the age of 30 in CA is fading IMO. People are pushing back marriage, kids, and home buying in favor of a comfortable lifestyle. They know homes are too expensive, so why try. Then there’s the issue of financial responsiblity. Those in this grouup that went to school are most likely in debt, and most if not all owe big time on credit cards.

All the more reason I think despite the quick correction we’re seeing, it will still drag on for a while.

I think there aren’t as many sideline sitters as the RE industry thinks. The few there are more than likely got out early-bubble to wait. First time buyers are few, and probably mid-30 dual income couples. You simply can’t afford an average CA home on an average mid-30’s single income.

[Sandi Egan]

As a representative of the discussed demographics (GenY, dual income, would-be first-time buyers)I can assure you that me and my renting friends are getting increasingly comfortable on the sidelines. “Pride of ownership”, “ability to paint my bedroom purple” – those concepts are lost on me and most of my peers, and things like landscaping and remodeling are viewed as chores and mandatory expenses. What we really worried about is being priced out of the market forever… Well, that’s not an issue anymore, so nothing forces us to make the move until we find our PERFECT house for a comfortable price or until buying becomes cheaper than renting.

[Sandi Egan]

As a representative of the discussed demographics (GenY, dual income, would-be first-time buyers)I can assure you that me and my renting friends are getting increasingly comfortable on the sidelines. “Pride of ownership”, “ability to paint my bedroom purple” – those concepts are lost on me and most of my peers, and things like landscaping and remodeling are viewed as chores and mandatory expenses. What we really worried about is being priced out of the market forever… Well, that’s not an issue anymore, so nothing forces us to make the move until we find our PERFECT house for a comfortable price or until buying becomes cheaper than renting.

[Sandi Egan]

As a representative of the discussed demographics (GenY, dual income, would-be first-time buyers)I can assure you that me and my renting friends are getting increasingly comfortable on the sidelines. “Pride of ownership”, “ability to paint my bedroom purple” – those concepts are lost on me and most of my peers, and things like landscaping and remodeling are viewed as chores and mandatory expenses. What we really worried about is being priced out of the market forever… Well, that’s not an issue anymore, so nothing forces us to make the move until we find our PERFECT house for a comfortable price or until buying becomes cheaper than renting.

[Sandi Egan]

As a representative of the discussed demographics (GenY, dual income, would-be first-time buyers)I can assure you that me and my renting friends are getting increasingly comfortable on the sidelines. “Pride of ownership”, “ability to paint my bedroom purple” – those concepts are lost on me and most of my peers, and things like landscaping and remodeling are viewed as chores and mandatory expenses. What we really worried about is being priced out of the market forever… Well, that’s not an issue anymore, so nothing forces us to make the move until we find our PERFECT house for a comfortable price or until buying becomes cheaper than renting.

[Sandi Egan]

As a representative of the discussed demographics (GenY, dual income, would-be first-time buyers)I can assure you that me and my renting friends are getting increasingly comfortable on the sidelines. “Pride of ownership”, “ability to paint my bedroom purple” – those concepts are lost on me and most of my peers, and things like landscaping and remodeling are viewed as chores and mandatory expenses. What we really worried about is being priced out of the market forever… Well, that’s not an issue anymore, so nothing forces us to make the move until we find our PERFECT house for a comfortable price or until buying becomes cheaper than renting.

[Reality]

[quote=cooprider14]I don’t think the majority of 20 somethings, even early 30-somethings have immediate plans to buy.

This demographic grew up with MTV, and will spend money on cars, clothes, and cell phones before saving for a down payment. Certainly not all, and probably none of us on these forums but I only know a small handful of people saving for a house.
[/quote]

Many of the 20 somethings are also still living at home, in some cases despite earning a decent paycheck. They will save money by accident unless they are totally frivilous.

As an aside, these “Millennials” by and large have to be the most coddled generation in history. The stuff I’ve read about and seen in person makes me wonder if they will ever grow up.

[Reality]

[quote=cooprider14]I don’t think the majority of 20 somethings, even early 30-somethings have immediate plans to buy.

This demographic grew up with MTV, and will spend money on cars, clothes, and cell phones before saving for a down payment. Certainly not all, and probably none of us on these forums but I only know a small handful of people saving for a house.
[/quote]

Many of the 20 somethings are also still living at home, in some cases despite earning a decent paycheck. They will save money by accident unless they are totally frivilous.

As an aside, these “Millennials” by and large have to be the most coddled generation in history. The stuff I’ve read about and seen in person makes me wonder if they will ever grow up.

[Reality]

[quote=cooprider14]I don’t think the majority of 20 somethings, even early 30-somethings have immediate plans to buy.

This demographic grew up with MTV, and will spend money on cars, clothes, and cell phones before saving for a down payment. Certainly not all, and probably none of us on these forums but I only know a small handful of people saving for a house.
[/quote]

Many of the 20 somethings are also still living at home, in some cases despite earning a decent paycheck. They will save money by accident unless they are totally frivilous.

As an aside, these “Millennials” by and large have to be the most coddled generation in history. The stuff I’ve read about and seen in person makes me wonder if they will ever grow up.

[Reality]

[quote=cooprider14]I don’t think the majority of 20 somethings, even early 30-somethings have immediate plans to buy.

This demographic grew up with MTV, and will spend money on cars, clothes, and cell phones before saving for a down payment. Certainly not all, and probably none of us on these forums but I only know a small handful of people saving for a house.
[/quote]

Many of the 20 somethings are also still living at home, in some cases despite earning a decent paycheck. They will save money by accident unless they are totally frivilous.

As an aside, these “Millennials” by and large have to be the most coddled generation in history. The stuff I’ve read about and seen in person makes me wonder if they will ever grow up.

[Author]

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