Story Views Saturday, December 12, 2015 21:18 % of readers think this story is Fact. Add your two cents. doctorhousingbubble.com / Dec 12, 2015 Contrary to anecdotal Taco Tuesday baby boomer nonsense, Millennials are not in any position to save the housing market. Millennials have differing priorities some based on generational trends but some being driven by economic necessity. The vast majority of the $1.3 trillion in student debt is being carried by younger Americans, not older baby boomers who went to college when state schools were nearly free and private institutions were dirt cheap that you could work at a fast food joint and pay for your annual tuition. It was also a time when buying a home wasn’t some giant global speculative gamble. Today we have markets where investors dominate, foreign money is king, and flippers are house humping their way into leased cars and plastic surgery. In California, 2.3 million adults live with their parents. As things improved, some went out and formed new households as renters. Some pundits think that many of these people were saving big bucks living at home with their parents but the latest survey shows the exact opposite. 50 percent of Millennials have less than $1,000 in savings. And these are the people that will buy $700,000 crap shacks that were built during the Great Depression? Millennials will not save housing Millennials are not going to save the housing market. Will they buy homes in other parts of the country where the typical home costs something like $230,000? Maybe. But that is a stretch for someone that is barely scraping buy. That is why we are facing rental Armageddon. But in areas where prices are looking very frothy, Millennials have no chance whatsoever to compete against investors and all cashforeign money. The few that have a chance to compete are high earning professionals that still need to leverage into giant mortgages. The idea that these adults are living at home with Taco Tuesday parents to save hundreds of thousands of dollars goes against actual data. READ MORE The post Millennials will not save the housing market: 50 percent of Millennials have less than $1,000 in savings. A large number are mired in student debt. appeared first on Silver For The People. Source: BeforeItsNews Announcements Step 1: Get the Telegram App & Get Stories Direct to Your Phone or Computer Without Censorship! Get the Telegram App in the App Store or at is a community of individuals who report on what’s going on around them, from all around the world. Anyone can . Anyone can contribute. Anyone can become informed about their world. Please Help Support BeforeitsNews by trying our Natural Health Products below! Join our affiliate program and earn extra money by sharing with friends and family or by posting on your social media. Order by Phone at 888-809-8385 or online at www.herbanomic.com Get our Free Ebook, "Suppressed Health Secrets" with Natural Cures THEY don't want you to know! HUmineral Humic Fulvic Concentrate - Nature's most important supplement! Vivid Dreams again! Ultimate Curcumin - Natural pain relief, reduce inflammation and so much more. MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video) Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen! Organic Hemp Extract (CBD) - Full Spectrum high CBD (3300mg) hemp extract eases stiff joints, relieves stress and more!Nascent Iodine - Promotes detoxification, mental focus and thyroid health. Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video) APeX - Far Superior to Colloidal Silver! Protect Your Family! Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.
Despite the notion that the 2.3 million adults living with their parents are saving money for a property, a new survey shows that 50% of millennials have less than $1,000 of savings, in addition to being burdened with student debt. The survey, conducted by Bankrate.com, found that only 25% of those surveyed had more than $10,000 saved up and just 15% said they were “comfortable” having no savings at all.