Yes..they are..but no wonder…the crap that fills their brains is the direct result of too many real estate articles, blogs, and advertisements designed to make them feel bad about not buying a home…
Sometimes I hate the real estate industry, and I’m in it. Every day I see 2-3 articles warning Millennials that it’s…
Too late to buy…!
Home prices are rising so you better buy now…!
Hey, you’re strapped with student loan debt but there’s still a way to buy a house!
Interest rates are expected to rise so get off the fence…!
The Dirty Secret #1: The sole purpose of all these headlines and stories (i.e., hype) is designed to “push people off the fence” to buy a house and enable someone else make money…realtors…attorneys…insurance companies….warranty companies…sellers…Home Depot and Lowes (apppliances, sales of product to home improvement remodelers and contractors, and your home improvement projects) and other housing related contractors (painters, plumbers, electricians, HVAC services) etc,.
The Dirty Secret #2: Housing related spending (whether buying houses, fixing them up, or all the related household services supporting housing) drives anywhere from 15-20% of the US Gross Domestic Product (GDP).
Yes, they/we all want your money…
So my advice to millennials is to “release the crap and wipe away the leftover hype” before you make a mess. And make sure that when “you” are ready to buy a home, you’ve done the basic research of home values compared to what you get…and do the math, if it doesn’t pay YOU to buy a home – Don’t!
Oh, and I use the term “literally”, figuratively in this case….