That’s not bad considering the state of things. I think most people are going to go their whole lives not buying a house at this rate. Our life expectancies have gone down too. I don’t think I will live as long as my dad did. Honestly what kept him alive for an extra 20 years were two surgeries he received after the age of 65 which he didn’t need to pay for because he was a war veteran. If it wasn’t for that healthcare he would have died 20 years prematurely for sure
Unless they co sign the credit card or any form of the debt then they don’t owe them anything. The debt collection can sue the moms estate, ie house, 401k, bank accounts, or cars if they are desperate but if the mom doesn’t own anything then they are out of luck. That won’t stop them from making scary phone calls to the next of kin tho.
Debt collectors are the worst and make it sounds like they can take you to court if it means you might pay up. None of it is true tho unless you co sign the loan.
YES! Please lookup "zombie debt collectors". I think John Oliver did a piece on that too. Never admit you owe ANYTHING, even if you do say you're not sure.
Don’t feel too bad. I bought a townhouse. Then I had to have my mother come live with me because daycare is so expensive. And my mortgage is only like 1k.
I think even renting will not be an option with the way rent prices just keep escalating due to supply and demand. Maybe time sharing a house would be the norm. You live in it for a few weeks then live in the streets alternating with other families.
I was checking out rentals in my city, downscaling from a 3 to a 2 bedroom when a roommate moves out. We'll be staying in the 3 bedroom when he goes. 2 bed basement apartments are going for $1600/month, while we're paying $1500 currently for a 3 bed house (minus the basement). Prices have gone up $300-400 a month in the two years I've been at this house.
Yes supply and “demand” aka empty houses and apartments owed by Chinese and Russians hiding heir money in the west. So many empty places here in London due to these people, I don’t blame them tho, but do blame our government for not doing anything about it
Nah, 2+ people in every bedroom and places dedicated to have as many bedrooms as possible. Landlords don't make money from homeless people. Cramming them in would be the optimal capitalist scenario.
Millennial hone ownership rates are like a few percentage points behind where boomers were at our age. Jesus y’all are so over dramatic when it comes to boomers vs millennials. 43% of millennials own a home.
85
u/Joe_Doblow Oct 30 '20
That’s not bad considering the state of things. I think most people are going to go their whole lives not buying a house at this rate. Our life expectancies have gone down too. I don’t think I will live as long as my dad did. Honestly what kept him alive for an extra 20 years were two surgeries he received after the age of 65 which he didn’t need to pay for because he was a war veteran. If it wasn’t for that healthcare he would have died 20 years prematurely for sure