Few milestones in life mean as much to the American Dream as owning a home. And millennials have encountered the kind of trouble totally befitting their generation, which largely graduated into the teeth of the disastrous post-2008 job market. Just as they entered peak homebuying and household formation age, housing affordability is at 40-year lows, and mortgage rates are near 40-year highs.
The anxiety this generation feels about the prospect of never owning their own home affects their entire perception of their finances and the economy, says Moody’s chief economist Mark Zandi.
“If they feel like they’re locked out of owning a home it colors their perceptions about everything else going on in their financial lives,” Zandi says.
Millennials have long been dogged by a brutal housing market. They faced not one, but two, cataclysmic economic events—the Great Financial Crisis in 2008 and the pandemic in 2020. Both of which left them reeling financially and struggling to afford a home. The Great Recession decimated the real estate market as the economy nearly collapsed under the weight of tenuous mortgage backed securities. While the pandemic brought with it a remote work boom that caused millions of citydwellers to flee to the suburbs, sending housing prices soaring.
You’re mistaken, I already live 45 minutes from my job. Moving further from that would be untenable because it would increase my commute by another 30 minutes which wouldn’t leave enough time for me to care for my father in the area.
That's your choice to make then.
Moving is an option, you are prioritizing your father's comfort over your own life.
You can do that, but no one us forcing you to.
You can tell your dad "look I'm leaving, I can't afford it here. You can come with me or not, but I have my own life to live and this place is killing me"
If he doesn't come with you, then that's on him.
He is a grown ass man, you aren't his parent...
Often I see this case, if you purposefully choose to shackle yourself to a relative, that's no longer "the economy"s fault you can't afford life. You made a choice to live outside your means, and that choice has consequences.
You always have the option to leave and most if the time if push came to shove, your relative will cave and follow.
Of not, you aren't responsible for them, stop lighting yourself on fire to keep someone else warm.
Holy shit dude. You are an actual psychopath aren't you? Fucking Ebenezer Scrooge pre ghostly trio levels of heartless.
Fucking hell...
Probably saw shows like House and Sherlock and thought "if I act like this it'll mean I'm special too!"