First time buyers

[zzz]

I think its way to hard to speak about such a broad group of people. I can’t speak to SD at large, but from my personal experiences, if you are talking about young white collar professionals, who want to live in places in central SD or North County coastal, I think there are number of people who will be competing for that “deal”. Those are desirable neighborhoods where first time buyers, move up buyers (condo to a house), and investors may want to compete for that gem in Mission Hills or Encinitas. For people in their late 20s or early 30s, 7-12 years of work experience post college is not a “few” years of work experiences in fields such as tech, biotech, sales.

There are quite a few people who fit that demographic who have moved here from other locales with lower cost of living but command equal or higher salaries. They’ve been saving for 10 years. I have friends who bought and sold their first house in other cities in their 20s and have that nest egg and are just waiting for the right house to come along along with the right price.

I agree there are also plenty of 20s and 30s who spend spend spend. But there are plenty who do have the downpayment in cash. There are also many people willing to borrow against their 401k for the downpayment. I think people underestimate how many people who’s families will help them out with the downpayment.

Most of my friends who have never bought a home are no longer looking at buying condos but rather homes because homes have come down to a level where it doesn’t make sense to risk the condo glut market and deal with the possible HOA assessments or hike in fees.

[Anonymous]

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.

I really get tired of the baby boomers criticizing any generation. You are likely the most selfish generation in America, and yet we’re the problem? This despite my generation doing more charity work than yours at the same age. Not to mention less drugs and partying as well. I’m going to be inheriting the debt, SS and medicare bills that your generation caused.

I don’t know about savings, but all the parents I know from the boomer generation have lived paycheck to paycheck their whole lives. My parents only recently started to save, my wife’s only parents recently started to save I have two aunts and uncles that are pushing 60 and have zero saved. I know lots of boomers who took out massive HELOCs to fund their fancy toys today and were depending on my generation buying their overpriced homes to fund their retirement.

On buying a house, I graduated from college in 2004 which was close to the bubble. I had given up on ever buying a house in San Diego at that time, because I knew I’d never afford a home at those prices. I was thinking I’d need to make 4 times my income to even get into a condo, so I put it out of my mind. Now that housing prices are dropping and are looking to become affordable when this all shakes out, my wife and I started saving up at the beginning of this year.

[Anonymous]

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.

I really get tired of the baby boomers criticizing any generation. You are likely the most selfish generation in America, and yet we’re the problem? This despite my generation doing more charity work than yours at the same age. Not to mention less drugs and partying as well. I’m going to be inheriting the debt, SS and medicare bills that your generation caused.

I don’t know about savings, but all the parents I know from the boomer generation have lived paycheck to paycheck their whole lives. My parents only recently started to save, my wife’s only parents recently started to save I have two aunts and uncles that are pushing 60 and have zero saved. I know lots of boomers who took out massive HELOCs to fund their fancy toys today and were depending on my generation buying their overpriced homes to fund their retirement.

On buying a house, I graduated from college in 2004 which was close to the bubble. I had given up on ever buying a house in San Diego at that time, because I knew I’d never afford a home at those prices. I was thinking I’d need to make 4 times my income to even get into a condo, so I put it out of my mind. Now that housing prices are dropping and are looking to become affordable when this all shakes out, my wife and I started saving up at the beginning of this year.

[Anonymous]

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.

I really get tired of the baby boomers criticizing any generation. You are likely the most selfish generation in America, and yet we’re the problem? This despite my generation doing more charity work than yours at the same age. Not to mention less drugs and partying as well. I’m going to be inheriting the debt, SS and medicare bills that your generation caused.

I don’t know about savings, but all the parents I know from the boomer generation have lived paycheck to paycheck their whole lives. My parents only recently started to save, my wife’s only parents recently started to save I have two aunts and uncles that are pushing 60 and have zero saved. I know lots of boomers who took out massive HELOCs to fund their fancy toys today and were depending on my generation buying their overpriced homes to fund their retirement.

On buying a house, I graduated from college in 2004 which was close to the bubble. I had given up on ever buying a house in San Diego at that time, because I knew I’d never afford a home at those prices. I was thinking I’d need to make 4 times my income to even get into a condo, so I put it out of my mind. Now that housing prices are dropping and are looking to become affordable when this all shakes out, my wife and I started saving up at the beginning of this year.

[Anonymous]

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.

I really get tired of the baby boomers criticizing any generation. You are likely the most selfish generation in America, and yet we’re the problem? This despite my generation doing more charity work than yours at the same age. Not to mention less drugs and partying as well. I’m going to be inheriting the debt, SS and medicare bills that your generation caused.

I don’t know about savings, but all the parents I know from the boomer generation have lived paycheck to paycheck their whole lives. My parents only recently started to save, my wife’s only parents recently started to save I have two aunts and uncles that are pushing 60 and have zero saved. I know lots of boomers who took out massive HELOCs to fund their fancy toys today and were depending on my generation buying their overpriced homes to fund their retirement.

On buying a house, I graduated from college in 2004 which was close to the bubble. I had given up on ever buying a house in San Diego at that time, because I knew I’d never afford a home at those prices. I was thinking I’d need to make 4 times my income to even get into a condo, so I put it out of my mind. Now that housing prices are dropping and are looking to become affordable when this all shakes out, my wife and I started saving up at the beginning of this year.

[Anonymous]

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.

I really get tired of the baby boomers criticizing any generation. You are likely the most selfish generation in America, and yet we’re the problem? This despite my generation doing more charity work than yours at the same age. Not to mention less drugs and partying as well. I’m going to be inheriting the debt, SS and medicare bills that your generation caused.

I don’t know about savings, but all the parents I know from the boomer generation have lived paycheck to paycheck their whole lives. My parents only recently started to save, my wife’s only parents recently started to save I have two aunts and uncles that are pushing 60 and have zero saved. I know lots of boomers who took out massive HELOCs to fund their fancy toys today and were depending on my generation buying their overpriced homes to fund their retirement.

On buying a house, I graduated from college in 2004 which was close to the bubble. I had given up on ever buying a house in San Diego at that time, because I knew I’d never afford a home at those prices. I was thinking I’d need to make 4 times my income to even get into a condo, so I put it out of my mind. Now that housing prices are dropping and are looking to become affordable when this all shakes out, my wife and I started saving up at the beginning of this year.

[Sandi Egan]

I concur with JordanT on most accounts.

[Sandi Egan]

I concur with JordanT on most accounts.

[Sandi Egan]

I concur with JordanT on most accounts.

[Sandi Egan]

I concur with JordanT on most accounts.

[Sandi Egan]

I concur with JordanT on most accounts.

[zzz]

patb- you should read the article in the nytimes magazine recently about babies and why certain cultures are not producing babies. Don’t think its quite so simple as being materialistic.

[zzz]

patb- you should read the article in the nytimes magazine recently about babies and why certain cultures are not producing babies. Don’t think its quite so simple as being materialistic.

[zzz]

patb- you should read the article in the nytimes magazine recently about babies and why certain cultures are not producing babies. Don’t think its quite so simple as being materialistic.

[zzz]

patb- you should read the article in the nytimes magazine recently about babies and why certain cultures are not producing babies. Don’t think its quite so simple as being materialistic.

[Author]

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