Jason HartmanCEO of Empowered Investor and Real Estate Tools

The Generational Battle And Housing Market Crisis!

Name: The Generational Battle And Housing Market Crisis!
Uploaded: 2024-07-03T20:42:08+00:00
Duration: 55 s
Channel: Jason Hartman
Description: In this YouTube commentary, Jason Hartman addresses the common millennial grievance that housing is unaffordable compared to their parents' generation…

3 Jul 2024 · 1 min

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In this YouTube commentary, Jason Hartman addresses the common millennial grievance that housing is unaffordable compared to their parents' generation. He acknowledges that millennials have a point but argues that the comparison is misleading because millennials tend to delay major life milestones—such as marriage, child‑rearing, and home‑buying—by roughly six years. When this age adjustment is applied, a 30‑year‑old baby‑boomer’s home‑buying timeline aligns with a 36‑year‑old millennial’s, narrowing the perceived affordability gap. Hartman then emphasizes that housing is a multidimensional asset class: when prospective buyers are priced out of the purchase market, they shift to renting, which creates upward pressure on rents. The overall narrative reframes the generational housing debate by highlighting timing differences and market dynamics rather than solely income or price factors.

Chapters

Millennials love to complain about how housing so unaffordable. Okay. And you know, they're sort of right, not completely. They complain and they say things like this, look, when my parents were 30 years old, they bought a house. I'm 30 years old and I can't afford a house. So they complain about this. But what they don't consider is the age adjustment that has to be made compared to what millennials are on the slow life plan. They're taking it easy, doing everything later. They're, you know, coupling up later, they're getting married later, they're having kids later, they're buying a house much later. But, but anyway, millennials are doing everything six years later. So you have to compare the 30 year old baby boomer parent to a 36 year old millennial kid, and then they're about the same. So that's the reality of the millennials. But just remember, income, property is a multidimensional asset class. So if people move out of the buying market because it's so unaffordable, that leaves them in what, the renting market, and that puts upward pressure on rents.