Those Darn Millenials!

[ExFlyBoy5]

Ah yes, the oft degraded millennial generation. The generation that older folks love to castigate for being...well, young. I recall sitting at a bar a couple of years ago with a very bright law student who happened to be of that generation. I loved his comment that basically put the blame on the PARENTS of that generation, not the generation itself. A key example, "Hey, we didn't give ourselves participation trophies...YOU DID!" And he's not wrong.

Anyway, an article in today's WSJ illustrates that the millennials are out buying houses like there is no tomorrow.

Millennials, long viewed as perennial home renters who were reluctant or unable to buy, are now emerging as a driving force in the U.S. housing market’s recent recovery.

Demand from millennials, who today range from their mid-20s to late 30s, has been increasingly important to the housing market since at least the middle of the last decade. But more recently, these new homeowners have been pushing aside older generations to become an even bigger influence.

So it appears that the millennial generation is...well, doing exactly what others did before them. Went to school. Got a job. Got married. Bought a house. Amazing, isn't it?

 

[JoeWras]

We're seeing it live and in action in our 40 year old neighborhood. Lots of baby buggies being pushed around too. Home prices have skyrocketed.

 

[Gumby]

A millennial couple just bought the house across the street. They came over to visit shortly after they moved in. We found them to be lovely people. I suspect we'll see a baby buggy in the not too distant future.

Until this past year, when five young couples moved in, two already with young families, the neighborhood had been almost completely old retired people. It makes me happy to again live in a neighborhood that spans the generations.

 

[Onward]

Every generation, as they age, thinks the next generation is worthless.

And in the end they never are.

 

[rodi]

Our neighborhood is seeing the trend of millennials buying the houses when the older generation moves to assisted living or senior housing. Plus we have several 2nd generation families (I'm one) that bought from their parents when the parents downsized or passed on. Nice to see strollers and walkers/scooters sharing the sidewalks. Neighborhood is 55 years old.

 

[CardsFan]

Was it Linda Ellerbee that said "and so it goes"?

My parents moved into a neighborhood about 1959. Mostly older folks, with new folks moving in. By the time I was in school, it was at least 1/2 folks with kids my age. The "kids" would do chores and cut grass for the "elderly folks". Not Mayberry, but not that far away.

Fast forward 20 years. I am leaving for a new career, but "young" folks are moving in. They help the "elderly" folks with lawn care and snow removal.

Fast forward about 35 more years. We are in a community with several older folks. We take out their trash, and do simple things they need done. For clarity, we are 65, but don't feel old.

AND there are younger folks moving in, carrying on the tradition. And so it goes.

 

[Sue J]

Was it Linda Ellerbee that said "and so it goes”?

Or was it Kurt Vonnegut?

 

[donheff]

My millennial daughter bought a house two years ago and had a baby last night. Many of her friends are doing the same.

 

[eytonxav]

Or was it Kurt Vonnegut?

Yep!

 

[caninelover]

Yes, Millenials are really not that different from other generations - maybe some were delayed in their major life milestones as many came of age during the Great Recession, but they still want similar things as other generations.

I remember some people pontificating that Millenials would never live in suburbs, but many did once they started families of their own.

 

[CardsFan]

Was it Linda Ellerbee that said "and so it goes"?

Or was it Kurt Vonnegut?

Yep!

Actually, that was a rhetorical question. I checked my memory on Wiki, just to be sure before posting. It was her sign off phrase most of her career, as well as the title of her first book.

Vonnegut did use the phrase in Slaughter House Five, but Ellerbee is what I remember.

 

[jim584672]

I remember articles a few years ago saying Millennial's aren't buying houses and don't like suburbia. Now if they could just learn how to change light bulbs.

Can millennials change a light bulb?

 

[kgtest]

My millennial daughter bought a house two years ago and had a baby last night. Many of her friends are doing the same.

Congrats Gramps!

I have quite a few millennial friends who still have runway to stimulate... I don't know it they will ever get married, let alone buy a house...but as I approach 40, more are settled into homes...the one's that have the means at least.

PLENTY of single friends still renting as they drift around in their 30s.

Going to a bachelor party tomorrow morning at 9am, one of my buddies is getting it in a few months before he turns 40

 

[JoeWras]

COVID-19 will help by clearing out some of the deadwood of the older generations. More employment, housing, whatever opportunities for the millenials. I'm not a millenial, by the way. I'm a Boomer. So I'm part of the deadwood myself. But hanging on just a bit longer.

There's a lot of clearing out of workers, who don't necessarily die.

COVID is causing a whole bunch of ER's at one of my old megacorps. And that's just one of many.

Room for the kids.

 

[CardsFan]

Going to a bachelor party tomorrow morning at 9am, one of my buddies is getting it in a few months before he turns 40

Now THAT is starting a party early

What time does it end? Noon?