Quote:
Originally Posted by mikemalloy
I think that the economy may pay at least a part in the problem. Inflation has reduced the spending power of many residents especially those on fixed incomes.
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A major contributor among my friends is the lack of home affordability for younger people—their kids. Adult kids keep moving back in their parents’ home & those adult kids are mostly not married & don't have children of their own. Some move back with spouse & kids! Maybe the bubble is distorting reality. My friends have said things like “there is no revolving door on the front of M&D’s house!” These are the same kids who did not care about getting a drivers license or their first car! Things have definitely changed. I could not wait to get my license & my first car. Living at my parents’ house would have been unthinkable.
To those who defend older homes: take solace. Young adults seem to prefer older homes. They like the character & mature trees, established lawns, better build quality, etc.