Best of the Week
Most Popular
1. TESLA! Cathy Wood ARK Funds Bubble BURSTS! - 12th May 21
2.Stock Market Entering Early Summer Correction Trend Forecast - 10th May 21
3.GOLD GDX, HUI Stocks - Will Paradise Turn into a Dystopia? - 11th May 21
4.Crypto Bubble Bursts! Nicehash Suspends Coinbase Withdrawals, Bitcoin, Ethereum Bear Market Begins - 16th May 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.Cathy Wood Ark Invest Funds Bubble BURSTS! ARKK, ARKG, Tesla Entering Severe Bear Market - 13th May 21
7.Stock Market - Should You Be In Cash Right Now? - 17th May 21
8.Gold to Benefit from Mounting US Debt Pile - 14th May 21
9.Coronavius Covid-19 in Italy in August 2019! - 13th May 21
10.How to Invest in HIGH RISK Tech Stocks for 2021 and Beyond - Part 2 of 2 - 18th May 21
Last 7 days
Coinbase vs Binance for Bitcoin, Ethereum Crypto Trading & Investing During Bear Market 2021 - 11th Jun 21
Gold Price $4000 – Insurance, A Hedge, An Investment - 11th Jun 21
What Drives Gold Prices? (Don't Say "the Fed!") - 11th Jun 21
Why You Need to Buy and Hold Gold Now - 11th Jun 21
Big Pharma Is Back! Biotech Skyrockets On Biogen’s New Alzheimer Drug Approval - 11th Jun 21
Top 5 AI Tech Stocks Trend Analysis, Buying Levels, Ratings and Valuations - 10th Jun 21
Gold’s Inflation Utility - 10th Jun 21
The Fuel Of The Future That’s 9 Times More Efficient Than Lithium - 10th Jun 21
Challenges facing the law industry in 2021 - 10th Jun 21
SELL USDT Tether Before Ponzi Scheme Implodes Triggering 90% Bitcoin CRASH in Cryptos Lehman Bros - 9th Jun 21
Stock Market Sentiment Speaks: Prepare For Volatility - 9th Jun 21
Gold Mining Stocks: Which Door Will Investors Choose? - 9th Jun 21
Fed ‘Taper’ Talk Is Back: Will a Tantrum Follow? - 9th Jun 21
Scientists Discover New Renewable Fuel 3 Times More Powerful Than Gasoline - 9th Jun 21
How do I Choose an Online Trading Broker? - 9th Jun 21
Fed’s Tools are Broken - 8th Jun 21
Stock Market Approaching an Intermediate peak! - 8th Jun 21
Could This Household Chemical Become The Superfuel Of The Future? - 8th Jun 21
The Return of Inflation. Can Gold Withstand the Dark Side? - 7th Jun 21
Why "Trouble is Brewing" for the U.S. Housing Market - 7th Jun 21
Stock Market Volatility Crash Course (VIX vs VVIX) – Learn How to Profit From Volatility - 7th Jun 21
Computer Vision Is Like Investing in the Internet in the ‘90s - 7th Jun 21
MAPLINS - Sheffield Down Memory Lane, Before the Shop Closed its Doors for the Last Time - 7th Jun 21
Wire Brush vs Block Paving Driveway Weeds - How Much Work, Nest Way to Kill Weeds? - 7th Jun 21
When Markets Get Scared and Reverse - 7th Jun 21
Is A New Superfuel About To Take Over Energy Markets? - 7th Jun 21
Why Tether USDT, Stable Scam Coins Could COLLAPSE the Crypto Markets - Black Swan 2021 - 6th Jun 21
Stock Market: 4 Tips for Investing in Gold - 6th Jun 21
Apple (AAPL) Summer Correction Stock Trend Analysis - 5th Jun 21
Stock Market Sentiment Speaks: I 'Believe' We Rally Into A June Swoon - 5th Jun 21
Stock Market Russell 2000 After Reaching A Trend Channel High Flags Out - 5th Jun 21
Money Is Cheap, Own Gold - 5th Jun 21
Bitcoin and Ravencoin Cryptos CRASH Bear Market Buying Levels Price Targets - 4th Jun 21
Scan Computers - How to Test New Systems CPU, GPU and Hard Drive Stability With Free Software - 4th Jun 21
Hedge Funds Getting Bullish on Gold - 4th Jun 21
THERE ARE NO SOLUTIONS When the Media is the VIRUS - 4th Jun 21
Investors Who Blindly Trust the ‘Experts’ Will Get Left Behind - 4th Jun 21
US Stock Market Indexes Consolidate Into Flagging Pattern – Watch For Aggressive Trending Soon - 4th Jun 21
Microsoft (MSFT) Stock Trend Analysis - 3rd Jun 21
No More Market Bloodbath – Beyond Cryptos - 3rd Jun 21
Bank run, or run from the banks? - 3rd Jun 21
This Chart Shows When Gold Stocks Will Explode - 3rd Jun 21
The Meaning Behind Gold’s Triple Top - 2nd Jun 21
Stock Market Breakout Or Breakdown – What Does The Next Big Trend Look Like? - 2nd Jun 21
Biden’s Alternate Inflation Universe - 2nd Jun 21
What You Should Know Before Buying Car Insurance - 2nd Jun 21
Amazon (AMZN) Stock Summer Prime Day Discount Sale - 1st Jun 21
Gold Investor's Survival Guide - 1st Jun 21
Silver and Copper to Benefit from Global Electrification Push - 1st Jun 21
Will Gold Shine Under Bidenomics? - 1st Jun 21
Stock Market Buy the Dip, Again?! - 1st Jun 21
Stock Market Consolidation Ahead - 1st Jun 21
Stock Market Summer Correction Review, Crypto CRASH, Bitcoin Bear Market Initial Targets - 31st May 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

The Disconnect Between Millennials and Real Estate

Housing-Market / US Housing Sep 16, 2019 - 04:58 AM GMT

By: Rodney_Johnson

Housing-Market A couple of weeks ago, I wrote about the tribulations associated with selling a home. We were in the thick of inspections, appraisals, etc. As we sold our home, and worked on a separate home purchase at the same time.

Then our home sale fell through, which killed my purchase. While I might not be heeding Harry’s advice to be real estate free, I’m also not so bullheaded as to own two homes that function as primary residences.

Just like baseball, there’s no crying in real estate. We wiped the slate clean and started over. A new buyer showed up within 10 days.



We came to an agreeable price quickly, but he needs to sell his home. It’s a more conventional property than mine, so it shouldn’t be an issue. But the new contract came with some interesting provisions.

During his option period, the buyer wants to get an inspection, which is common. He also wants a separate roof inspection, separate HVAC inspection, and separate stucco inspection, which I didn’t know was a thing.

I don’t have to bear the financial burden of these items, but I was curious as to how much he’s shelling out to get separate reports. A little homework told me that he’s adding $1,500 in specialized inspection reports on top of the traditional $600 general report.

Everyone Needs a Safety Net

Welcome to the latest iteration of the safety net society, where people want stronger guarantees that they will succeed, or at least not fail, and look to outside sources for those assurances.

On an individual basis, everyone gets to choose how much they’re willing to spend for peace of mind. But when we move from our personal purchases to society at large, things change. The cost moves from the individual to the entire group.

In the August issue of Boom & Bust, I outlined how voters are changing as we move into the 2020 election cycle and beyond. I’m not talking about an individual voter changing her mind on issues, I’m referring to the fact that the electorate is getting younger as a large number of Millennials go to the polls for the first time and overtake Boomers and members of the Silent Generation as the dominant force in the American electorate.

GenX’ers, as you might imagine, don’t count as much because of their relatively small numbers.

Everyone is Getting Younger Again

In the 2018 mid-term elections, more voters under 50 years old turned out than those over 50, the first time that’s happened since at least the early 1970s. In the 2020 election, Boomers and older generations will be just 40% of voters, down from 70% in 2000.

As the younger groups go to the polls, they will pull the levers that correspond to their priorities, looking for answers on things like healthcare, student loans, and climate change. The answers put forth to address these issues have one thing in common – they’re all expensive, and require everyone to pay.

Maybe this is the logical outcome of the Great Recession and diverging experiences of younger workers and their parents. The rising class of voters came of age in a time of uncertainty, and then watched asset prices run away from them as wages grew slowly.

And the college-educated Millennials got the joy of entering the labor force with the added burden of student loan debt. No one forces you to take loans, but the outrageous growth of the cost of college made attending all but unaffordable for many without taking on debt.

The combination of fewer opportunities and extra headwinds is probably difficult for a group that was told by parents they were all winners, particularly when you consider that the rules of the game changed through no fault of theirs.

I’m Not Knocking Millennials

I know the snowflake stereotypes, but as the parent of a couple of them, I also know there are many who work hard, save, and try to build their lives on their own.

I’m recognizing that their priorities are different from mine and many of the people that came before me. Where my generation wanted a level playing field and for the government and all others to get out of the way, the younger group seems to want a backstop when possible.

Maybe that’s just the way of the future. Maybe the couple buying my home is on the cutting edge of getting ever more specialized inspections and check ups before major purchases and life changes, and building social safety nets wherever possible.

It might be the smart way to go, but it sure adds layers of cost to my personal transaction and society at large. Out of all of this, one thing seems obvious – if you build an industry around looking for problems, you’ll certainly find them. When you do, then you’ll have to figure out how to pay for them. And that’s where the fight starts.

Rodney Johnson

Follow me on Twitter ;@RJHSDent

By Rodney Johnson, Senior Editor of Economy & Markets

http://economyandmarkets.com

Copyright © 2019 Rodney Johnson - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Rodney Johnson Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in