A future-of-work expert said Gen Zers didn’t have the “promise of stability” at work, so they’re putting their personal lives and well-being first.
Well interest does come into it. Y’all can’t afford the interest payments on the loans you’d need. Can’t even find a decently priced used car.
Oooh, cool word play! I like it.
Also, I find it funny* that we somehow can afford rent but are not qualified to pay a mortgage with monthly payments that costs the same.
*enraging
I think this is a huge part of the problem. Rental property owners are just a liability buffer for the banks. There should be mortgages at a 1% down payment for first time buyers with a proven track record of making rent payments on time. Maybe the rates are a little higher, with the extra interest giving the banks motivation for taking on the extra risk. Then after the first term the owner can renew with a normal rate.
Doesn’t help with the demand issue, but maybe all the rentals will flood the market after nobody is being punished for not having $100k laying around because they’re busy paying someone else’s carrying costs.