Many young people prefer to rent. You don't have to pay maintenance costs,
you can move relatively quickly if you need to for jobs or other opportunities,
and you can usually choose to live in or near a nicer area than you could
probably afford a house in.And no, houses are not good investments
anymore. Even without the booms and busts, property values are largely
intangible. Your property value could plummet when they decide to build a sewage
treatment plant or low-income housing unit nearby. Likewise, a worthless shack
could skyrocket in value because some huge company is building nearby. Of
course, that doesn't include all the interest you pay on your mortgage,
either.Most of the equity old people think they have in their home
is just inflation.
I am not even in my 30's and I own my house, I think its because the
younger generation has a sense of entitlement, thinking they should have what
there parents have, which I believe you need to work for that stuff.