First time buyers

[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.

[poorgradstudent]

I am 29, and finishing my PhD in Biochemistry. My friends are primarily in their mid-to-late 20s, with a sprinkling of 30s with college degrees, so overall we fit the profile you’re asking about. Although most of us are single and w/o kids, and tend to have fairly urban sensibilities.

“What kind of houses they are buying and what kind of down-payment they have?”

People that are buying are looking at condos and cottages. Down payments are primarily coming from parents/grandparents, and are modest at best. In fact, a lack of a downpayment is a huge barrier.

“Are Singles buying homes at all?”

Not from my point of view. It seems like the biggest incentive for people to buy is having a kid. Marriage can be an impetus, if only because it often means kids are planned.

A lot of my friends and co-workers also have seriously considered moving out of SoCal in the past year, although not necessarily to somewhere cheaper. The Bay Area is a popular destination. If moving is a serious possibility, it gives another reason not to buy.

[poorgradstudent]

I am 29, and finishing my PhD in Biochemistry. My friends are primarily in their mid-to-late 20s, with a sprinkling of 30s with college degrees, so overall we fit the profile you’re asking about. Although most of us are single and w/o kids, and tend to have fairly urban sensibilities.

“What kind of houses they are buying and what kind of down-payment they have?”

People that are buying are looking at condos and cottages. Down payments are primarily coming from parents/grandparents, and are modest at best. In fact, a lack of a downpayment is a huge barrier.

“Are Singles buying homes at all?”

Not from my point of view. It seems like the biggest incentive for people to buy is having a kid. Marriage can be an impetus, if only because it often means kids are planned.

A lot of my friends and co-workers also have seriously considered moving out of SoCal in the past year, although not necessarily to somewhere cheaper. The Bay Area is a popular destination. If moving is a serious possibility, it gives another reason not to buy.

[poorgradstudent]

I am 29, and finishing my PhD in Biochemistry. My friends are primarily in their mid-to-late 20s, with a sprinkling of 30s with college degrees, so overall we fit the profile you’re asking about. Although most of us are single and w/o kids, and tend to have fairly urban sensibilities.

“What kind of houses they are buying and what kind of down-payment they have?”

People that are buying are looking at condos and cottages. Down payments are primarily coming from parents/grandparents, and are modest at best. In fact, a lack of a downpayment is a huge barrier.

“Are Singles buying homes at all?”

Not from my point of view. It seems like the biggest incentive for people to buy is having a kid. Marriage can be an impetus, if only because it often means kids are planned.

A lot of my friends and co-workers also have seriously considered moving out of SoCal in the past year, although not necessarily to somewhere cheaper. The Bay Area is a popular destination. If moving is a serious possibility, it gives another reason not to buy.

[poorgradstudent]

I am 29, and finishing my PhD in Biochemistry. My friends are primarily in their mid-to-late 20s, with a sprinkling of 30s with college degrees, so overall we fit the profile you’re asking about. Although most of us are single and w/o kids, and tend to have fairly urban sensibilities.

“What kind of houses they are buying and what kind of down-payment they have?”

People that are buying are looking at condos and cottages. Down payments are primarily coming from parents/grandparents, and are modest at best. In fact, a lack of a downpayment is a huge barrier.

“Are Singles buying homes at all?”

Not from my point of view. It seems like the biggest incentive for people to buy is having a kid. Marriage can be an impetus, if only because it often means kids are planned.

A lot of my friends and co-workers also have seriously considered moving out of SoCal in the past year, although not necessarily to somewhere cheaper. The Bay Area is a popular destination. If moving is a serious possibility, it gives another reason not to buy.

[poorgradstudent]

I am 29, and finishing my PhD in Biochemistry. My friends are primarily in their mid-to-late 20s, with a sprinkling of 30s with college degrees, so overall we fit the profile you’re asking about. Although most of us are single and w/o kids, and tend to have fairly urban sensibilities.

“What kind of houses they are buying and what kind of down-payment they have?”

People that are buying are looking at condos and cottages. Down payments are primarily coming from parents/grandparents, and are modest at best. In fact, a lack of a downpayment is a huge barrier.

“Are Singles buying homes at all?”

Not from my point of view. It seems like the biggest incentive for people to buy is having a kid. Marriage can be an impetus, if only because it often means kids are planned.

A lot of my friends and co-workers also have seriously considered moving out of SoCal in the past year, although not necessarily to somewhere cheaper. The Bay Area is a popular destination. If moving is a serious possibility, it gives another reason not to buy.

[UCGal]

I don’t know if this is typical but I have friends, in their mid-30’s, 3 kids, who’ve been sitting by the sidelines during the extreme prices and are now in escrow on a forclosed house.

They lived in a smaller house than they wanted in order to max out their savings. They’re going in with a $50k downpayment.

I know a couple of other friends in similar positions but not yet in escrow… been renting and living in much smaller spaces than they’d prefer, in an effort to save down payments… now hoping to pick up a better deal with their down payments, but waiting for the right home. All of them are married with kids.

[UCGal]

I don’t know if this is typical but I have friends, in their mid-30’s, 3 kids, who’ve been sitting by the sidelines during the extreme prices and are now in escrow on a forclosed house.

They lived in a smaller house than they wanted in order to max out their savings. They’re going in with a $50k downpayment.

I know a couple of other friends in similar positions but not yet in escrow… been renting and living in much smaller spaces than they’d prefer, in an effort to save down payments… now hoping to pick up a better deal with their down payments, but waiting for the right home. All of them are married with kids.

[UCGal]

I don’t know if this is typical but I have friends, in their mid-30’s, 3 kids, who’ve been sitting by the sidelines during the extreme prices and are now in escrow on a forclosed house.

They lived in a smaller house than they wanted in order to max out their savings. They’re going in with a $50k downpayment.

I know a couple of other friends in similar positions but not yet in escrow… been renting and living in much smaller spaces than they’d prefer, in an effort to save down payments… now hoping to pick up a better deal with their down payments, but waiting for the right home. All of them are married with kids.

[UCGal]

I don’t know if this is typical but I have friends, in their mid-30’s, 3 kids, who’ve been sitting by the sidelines during the extreme prices and are now in escrow on a forclosed house.

They lived in a smaller house than they wanted in order to max out their savings. They’re going in with a $50k downpayment.

I know a couple of other friends in similar positions but not yet in escrow… been renting and living in much smaller spaces than they’d prefer, in an effort to save down payments… now hoping to pick up a better deal with their down payments, but waiting for the right home. All of them are married with kids.

[UCGal]

I don’t know if this is typical but I have friends, in their mid-30’s, 3 kids, who’ve been sitting by the sidelines during the extreme prices and are now in escrow on a forclosed house.

They lived in a smaller house than they wanted in order to max out their savings. They’re going in with a $50k downpayment.

I know a couple of other friends in similar positions but not yet in escrow… been renting and living in much smaller spaces than they’d prefer, in an effort to save down payments… now hoping to pick up a better deal with their down payments, but waiting for the right home. All of them are married with kids.

[Reality]

[quote=JordanT]
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.
[/quote]

My post was a knock on the baby boomer parents of the Millennials. Nothing against the kids at all. The helicopter parenting, coddling, and reluctance to letting their kids grow up and take responsibility are what I was referring to. But YMMV.

Am I a baby boomer? Technically I may just squeeze in there but I’ve never related to those who grew up mainly in the 1960’s. I grew up in the 1960’s and 1970’s.

[Reality]

[quote=JordanT]
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.
[/quote]

My post was a knock on the baby boomer parents of the Millennials. Nothing against the kids at all. The helicopter parenting, coddling, and reluctance to letting their kids grow up and take responsibility are what I was referring to. But YMMV.

Am I a baby boomer? Technically I may just squeeze in there but I’ve never related to those who grew up mainly in the 1960’s. I grew up in the 1960’s and 1970’s.

[Reality]

[quote=JordanT]
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.
[/quote]

My post was a knock on the baby boomer parents of the Millennials. Nothing against the kids at all. The helicopter parenting, coddling, and reluctance to letting their kids grow up and take responsibility are what I was referring to. But YMMV.

Am I a baby boomer? Technically I may just squeeze in there but I’ve never related to those who grew up mainly in the 1960’s. I grew up in the 1960’s and 1970’s.

[Reality]

[quote=JordanT]
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.
[/quote]

My post was a knock on the baby boomer parents of the Millennials. Nothing against the kids at all. The helicopter parenting, coddling, and reluctance to letting their kids grow up and take responsibility are what I was referring to. But YMMV.

Am I a baby boomer? Technically I may just squeeze in there but I’ve never related to those who grew up mainly in the 1960’s. I grew up in the 1960’s and 1970’s.

[Author]

Posts