Generation rent: How youth are battling the global housing crisis | The Stream

[@Bullionking21]

You shouldnt have to live with your friends to have a home, i want a home for my wife and kids not a dorm house.

[@user-wc5lw7ps6h1]

What wife? You mean the other corporate slave you sleep beside? What kids? The ones you still can't afford after slaving your life away?

[@alexlopez5800]

😂 exactly people even get married just get a house and end up getting divorced 2-4 years later

[@patriciavandevelde5469]

@Bullionking21 stop making kids! 63 here travelling the world with my dog!

[@patriciavandevelde5469]

No kids,happily divorced!

[@oherroprease207]

You can afford kids??

[@resurrectedone7463]

US approves $20 billion in weapons export to Israel ....just think of what we could do with that money at home in our own country.

[@ryanwalters6184]

We can just print more.

[@justinlucas]

Btw, 55 million immigrants come to the USA from 2021 to 2024; that's why we don't have a home for new people.

[@ryanwalters6184]

@@justinlucas yep, it was a blessing.

[@rafaelpena4269]

@@justinlucas it's ALL the IMMIGRANT'S fault..lol..I guess their BROWNess got "in the way"

[@AUNZAnon]

Just add it to your $32T tab.

[@Jake.steve3658]

Its corruption

[@tyronevincent1368]

Organizied legal corruption

[@samithajayasinghe]

If rent was affordable to people how would those poor banks and real estate companies survive? 😢😢

[@izzuddinmnasir4884]

Make more houses

[@alexlopez5800]

@@izzuddinmnasir4884 Not the solution.

[@yc5000]

Build more houses and collect more rent 😅

[@latashav4281]

Roommates are not the answer..... this is just so unfortunate.

[@yc5000]

I'm hoping they don't start normalizing having 4-5 roommates in your 30s.

[@UnitedCorporationsOfAmerica]

I'd rather live alone in an apartment in the hood than live in a mansion with roommates. Roommates are for kids.

[@countryboy9695]

House is not just a place to live. It is connected to the trillions of debts owned by banks. Bankers rule the world and will never let house prices to fall. So until the bubble bursts there’s no way out.

[@serebii666]

Why would house prices fall if there is more demand than ever before? Or are you implying that people aren't actually looking for housing today, that there isn't a housing crisis?

[@hmmm2564]

@@serebii666 demand was high during the USA s housing bubble in 2008-2009

[@hmmm2564]

​@@serebii666demand was high during the USA s housing bubble in 2008-2009

[@serebii666]

@@hmmm2564 No, it was the opposite. Between 9 million people losing their jobs, Interest rates being raised to 8.25% by the fed explicitly to make borrowing harder (therefore reducing demand, since fewer people could afford mortgages) to cool down the overheating economy and 3.1 million foreclosures in 2008, all of those show a decrease in demand and increase in supply, which is why housing prices crashed by 30%.

[@hmmm2564]

@@serebii666 that's not dissimilar to the situation now. Buyers are struggling to sell. People can't buy but want to buy because of interest rates and high price. people are losing their jobs or underemployed

[@GottuboiBeachVolleyball]

If you live in a communal with people (often strangers) it creates less privacy, freedom and may create friction. Housing is a HUGE problem in the US.

[@harissonbond7499]

Would be less of an issue if purchasing homes with family members instead of strangers

[@isaakmorse6044]

@@GottuboiBeachVolleyball oh, do they leave in USA like in 1920 comunist Russia?

[@andrenations1]

Not everyone wants to be a homeowner because they can't afford it, which has led to an automatic mindset. But in reality, everyone wants a home and a good car-those things are a basic part of life.

[@Madaboutmada]

Why are cars a basic part of life? Reliable transportation, 100% yes. But a car? That's $10k just to operate it. BTW cars are only a recent part of life. Shelter goes back thousands of years.

[@basicfilmblog]

​@@Madaboutmada yeah and lofe evolves. Smartphones are extremely new and most definately a basoc necesisity in todays world..

[@cruzsimeki3067]

We've been conditioned now to think that having a home is an 'asset' or almost a luxury, rather than for what it is, a basic human necessity such as oxygen, water and food.

[@eliot5220]

I don’t understand how someone can really get comfortable with saying they expect someone else to house them. To me the most important thing to do in your life is to house yourself. Forget everything else. This whole mentality has actually caused this. If people were focused on housing themselves there wouldn’t be such a large rental market. Also people paying too much enabled developers to rob them.

[@eliot5220]

@@yc5000 That mindset has caused the high rents. How could you not want to own a home? Where would you put your belongings? Better yet why would you want to own anything if you don’t even have a place to put them.

[@JV4L]

Under-regulation isn’t the problem. The problem is actually OVER-regulation (zoning laws, environmental review, excessive development fees, local government nimbyism). The supply of housing has been artificially constrained for decades and hasn’t been able to keep up with demand.

[@RARochester]

Best post on this thread 💯

[@naturalyawd7814]

It seems to be a never ending phenomenon. The city where i live have House and condo construction going on everywhere, all seems to be mostly more units for investors and their portfolio. Prices of rent and home prices keep going up, and Homeless population keep going up. Corporation and investors shouldn't be able to compete with people who are just looking for a roof over their heads.

[@RARochester]

Corporations and investors are the ONLY ones ( by and large ) that can afford the cost of construction; hence, build to rent NOT to buy. Those same rentals would sit empty if the for sale price was listed.

[@brotha-nature2244]

I lived with family in rural area , no internet , no bedroom , no busses , barely running water . I had to move out and I'm stuck renting , it's impossible

[@nata3467]

Think about how this will negatively affect marriage rates birth rates ... When you have Banks and equity firms basically buying up properties as rentals and investments you're not going to have a housing market that young adults can enter. I was 25 and I owned a duplex that paid under $50,000 for.. we did all of the renovations and sold it for three times that amount... . Same house just went for sale for $425,000.

[@firefalcoln]

The thing that’s so bewildering about home ownership is that even with the small supply of homes to buy, real estate isn’t a particularly strong investment compared to stocks. It’s good to not have to pay for housing when you retire, but it’s often so much more expensive to buy a home with financing and 20% or less down, than rent the same property. It can be such a difference that I commonly recommend that people consider renting and invest the difference that they would otherwise pay to buy their home (or as much as possible) and then a few decades later after you’re 60 years old, you can take out invested money with few tax penalties, and use that invested money to buy a home with cash outright. Sure the home will probably be a bit more expensive in that future date. But you’ll save so much by not having to pay interest on a loan. And homes historically beat inflation far less than stocks on average (1% for homes and over 7% for the SNP 500). Plus there are a lot of extra housing costs for buyers that renters don’t have to pay. It’s not just the rental price vs the mortgage price that should be considered when evaluating buying vs renting. Extra costs for buying vs renting can easily tack on 30%-50% more than the mortgage per month in other costs that a renter wouldn’t have to cover. There are property taxes, maintenance costs, HOA costs, PMI, and the transaction costs and opportunity costs for home ownership which are often ignored when people consider buying vs renting. Renting and investing for buying in later middle age rather than around 25-35 years old can be a great plan.

[@ryanwalters6184]

Everyone moving to America. Prices are not coming down. In Charleston it blowing up and houses cost 2x over 3 years.

[@wonderworld5606]

The median price in Sydney Australia hit $1.3 million

[@WaveRider1989]

We all used to live in communal living for longest time in history. Today's living isn't sustainable with family of 4 living in a 5 room house. People used to live in joint families with larger houses or smaller, tiny houses of today next for a single family.

[@allykhan8594]

Singles living in 3 ved houses with many cats.

[@josephj6521]

@@WaveRider1989 people have lived in bigger properties 80, 100+ years ago. My grandparents had a large plot of land with a large house for their many children. They grew a lot of their produce and food was bought /sold within their immediate area. Nothing was imported from the other side of the World. Now, land has become expensive, not the size of the home itself. It’s land. We are expected to live on very small plots of land or worse, small apartments which in all seriousness, isn’t very humane. Humans need nature and apartments are further from nature and our needs. Importing/exporting food is also a problem. Environmentally damaging and more costly. I’m wondering why the young bother working if most of your income is spent on rent/bills? Why not a global protest or strike?

[@MinistryofOtaku]

Not everyone has loving families.

[@deandre22]

I work with 24-year-olds who make 50k+ a year but don’t make 3.5X to live by themselves.

[@coleengoodell7523]

Well I suppose there was a time that you could actually "own" land and property. That time has passed. Even if you manage to pay off your mortgage, you still have to pay yearly property taxes and other expenses. You own nothing. If you don't maintain it to code, you can be fined for it and lose it. If your property taxes go sky high, which is out of your control, the state will take it. If the state decides they need to build a road, railway or pretty much anything where your land is, they can and do take it. You're out. Because the greed of the greedy knows no bounds and their sticky fingers want more, more, more. Like a thirsty man drinking salt water to quench it. Their god is money, power, privilege and living luxuriously with the world.

[@DeenanTheKemon1]

Imagine someone who would starve toddlers to death so their Bank Balance went from $20,000,000,000.00 to $20,000,000,050.00 Now imagine that is EXACTLY who rules the World.

[@coleengoodell7523]

@@DeenanTheKemon1 We don't have to imagine it. We are seeing it.

[@mimba3181]

It happens around the world, one has to make it happen instead of blaming.

[@harissonbond7499]

On the subject of communal living. Why not purchase a home with a group from your family instead of friends. Family would tend to stick together longer than friends and once the mortgage is completed, the group purchase another home and on and on until everyone eventually has a home of their own.

[@America-The-Great]

I own a townhouse and have 3 roommates... all my neighbors thought I was crazy until some of them started losing their jobs or got reduced work hours....lol... I've been living in peace this whole time 😂😂😂

[@donaldlyons17]

No they might be worried about the roommates....

[@Music-yq8qc]

Not everyone feel comfortable living with strangers. I did the same thing and saved thousands per year. Which I put into my mortgage. But I'm a male

[@donaldlyons17]

@@Music-yq8qc In addition not all roommates have the cash to pay either!!

[@ecclairmayo4153]

Same here. Living with family and I trust that they will pay every month.

[@Music-yq8qc]

@@donaldlyons17 you can literally kick them out. Since it's your place and you live there

[@richardwiediger7298]

Never fear, the politicians are well taken care of!

[@Techdesk0707]

It's common and our tradition in india to live with parents before and after marriage bcz when you are child the parent have full responsibility of yours and now it's your turn to help and love your parents as they do ❤

[@mecanuktutorials6476]

@@Techdesk0707 but that implies you stay at home. Lots of people have to move for work and studying etc.

[@Techdesk0707]

@@mecanuktutorials6476 if you get a job in your home town it's ok to be with your parents .

[@samuelsingh520]

Matthew 6:24 (ESV): "No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money."

[@aynrandfan7454]

My home in Vancouver is 2.98 million and monthly the mortgage is $6500. 10k property tax and around 2k in utilities cost…Canada is also not as affordable as you would think

[@Madaboutmada]

Cry me a river. You have a home worth almost $3million. You are part of the problem. Looking at your handle this just supports my thesis, Ayn Rand wannbe. Actually she was a fraud benefiting from social welfare programs while she wrote.

[@DeenanTheKemon1]

You poor thing, how do you cope?

[@trichomaxxx]

The youth needs to push for a Land Value Tax. All hail Henry George

[@tr1bes]

In distant past China, 3-4 generations live in one rooftop. It was life. Everyone knows each other pretty well including many arguments.

[@pjell]

Good representation from men.

[@7SideWays]

@@pjell good point. I'm so used to not seeing us/being invisible, it didn't dawn on me.

[@joyariffic4217]

I cant do the communal living. Not everyone can do that. I cant stand having lots of people and noise in my house. Plus people don't do what they are supposed to do like their share of cleaning, etc. And people bring friends or partners over that dont pay rent but dont ever go home. Its a no for me

[@kimcosmos]

try getting a bank to finance cohousing. People can't leave unless they can keep paying their mortage until a new tenant is agreed on to buy out their share. Its bedroom based strata title where you have to wait 6 months for a new buyers trial coliving to complete before people agree to them buying in. Pocket villages remove that stress but the nimbies and council estate agents hate it

[@MrLittlecat123]

All people know what is the problem and no body take action. Government just not dare to touch the piece of interest of the specific group people.

[@RogueDonut87]

Sad we don’t have this type of discussion in the US media. This needs to be front and center far more often

[@rhondahopkins4366]

Rent is crazy and corporate should be in the house market. Greed.

[@grahamashe9715]

No men on the panel? Not very "diverse".

[@mohdnorzaihar2632]

Back to the lifestyle of "extended family co-living"(but in a large scale). Peace be upon us all and assalamualaiqum wmt

[@carolgoulart9759]

I totally agree with everything said in this stream.

[@Omar_Zazzle]

[@Jimdidit]

A house is not wealth it’s a liability, there is nothing wrong with living with your parents, they will welcome the help

[@michaziobro5301]

Buying a house doesn’t make sense

[@bmoshareholderappleshareho855]

If you want to raise a family, you need a house, not a condo.

[@Omar_Zazzle]

A mortgage doesn't skyrocket like rent, you make equity. My house has almost doubled in price since I bought it in 2018, and I paid cash. If this doesn't make sense to you then maybe you should go get a cardboard box to live in.

[@ViceCoin]

Homeowners complain about property taxes, maintenance, insurance, and HOA fees. If I were wealthy, I would never own property. I would live in luxury suites.

[@Avsfan23]

9 roommates 🤢🤮🤮

[@karld1791]

The private market will build at the most profitable top market. This will meet top demand and push prices down on older homes pushing those older homes to the lower priced end of the market. Building to meet demand won’t solve the total problem by itself though without building more other solutions won’t work. Building enough is the first step to solve the problem.

[@wafflingmean4477]

Everyone stop paying rent at the same time. In Australia at least, there are simply not enough police officers and not enough prisons to stop 8 million people who are sick of renting.

[@mariahsmom9457]

Owning a home is not that great. I cant wait to get back to a rented, smaller apartment without property taxes, insane insurance, and maintenance and repairs. Believe me, you dont necessarily want this. Id be way better off financiallt renting!

[@SpencerHeckwolf]

Homes are expensive because we outlawed homebuilding. Most of the commentary doesn’t touch on this.

[@BD-cm7xc]

It's a possibility that we live a multivers with parallel worlds. Once these stuff are discovered probably housing will be only a single door with no parcel nor acreage. This will destroy the farming of humans through artificial housing shortages. Everyone will have their own ranch.

[@Jo-ann257]

Deregulation = No Regulation 😊

[@coopsnz1]

more regulations today left moron and so is taxes

[@fatafaelasuf7914]

Blame Landlord

[@davidnoticiero6728]

The point was completely missed by this report, since 2008 the US population has grown about 14% nationally while building slowed to a crawl between 2008-2020, to the point the US is estimated to be short 4,000,000 housing units to meet demand, then there the reality that less that 3% of all homes in the country are owned by corporations, despite what the activist is trying to sell, thirdly and most importantly for those in need is the grift in the government sponsored housing programs. Since 2018 in my home state of California alone over $35 billion has been spent to house the homeless, enough to give every homeless man woman and child in the state over $2000 a month, but in Los Angeles county the cost to provide a bed for a homeless person is over $800K?!?! Let’s be real theee activists and politician connected non-profits are slimming off the top at Bernie Madoff levels and no real attempt to solve housing because if people get houses then all these nonprofits and government agencies can no longer drain the taxpayers. The solution is to build and to use this need for construction and tradesmen as an opportunity to provide vocational training to meet that need, but then there’s no desire to solve the problem by government or their cronies

[@lliamjurdom9505]

People are better not buying a house, its a higher risk, difficult to engineer and service ... live in a cardboard box ...

[@rajeshranjan5170]

there is plenty of land in australia so, Build Baby Build.

[@everythingisfine9988]

What about fresh water?

[@santaclosed5062]

Affordable housing cannot be a solution; 1. There is simply no criteria or standard of what is affordable for people. 2. Affordable housing is basically relying solely on the private market for the solution whereas it’s the deregulated private housing market who caused all this plight to begin with. 3. Affordable housing is still predicated on the financial logic to help private developers who include not well defined affordable units in their projects. Please don’t pretend that the affordable housing is a solution. It’s is not and never will be. It’s social housing that will solve this housing crisis and set a market regulation.

[@alexlopez5800]

Why don’t they talk about the fact that the US economy is literally on the beginning stages of a recession

[@monkaf]

Because the economy is still very strong. And population is still rising (migration), so demand is even stronger then ever.

[@HealthElites]

It's not a crisis. Just build more homes like you make weapons 😂😂

[@monkaf]

The more population a country has, the housing will be more expensive. The demand makes the price. Its the same in europe

[@mathelga]

So increase supply...economics 101.😅

[@monkaf]

@@mathelga 101 economic. The bigger the price, the bigger the taxes. There will not be more a lot more houses, because of state greed. Its the same in my country.

[@alphateamracing5380]

First sentence I stopped. "Housing is a human right" No it isn't

[@annalas765]

@@alphateamracing5380 land is a human right

[@SigFrid1985]

Government intervention isn't the solution, cause to me that doesn't sound like a democracy. What these are saying are basically: "Let's all be China and let everything be State owned"

[@P2B_JC]

Oh yeah? You think you know every house? Name all of them!

[@moa8121]

Anyone who has a job but finds the rent to expensive for their income should use the rent money to buy a decent used vehicle that they can sleep in and get a YMCA membership to take their showers and maintain their personal hygiene and use the other facilities to stay in shape by lifting weights.

[@TrueBluePlus]

All by design to create human suffering

[@tarlkoroban3733]

Yet they always vote for political parties that perpetuate this situation.

[@scottandrews947]

In the US, there are only 2 political parties, both of which have done nothing to solve or even improve the housing crisis.

[@DeenanTheKemon1]

​@@scottandrews947there are no 2 parties, only 1; the Ultra Rich.

[@TheNeighborhoodFinanceGuy]

How is housing a human right?

[@MrMM-vg9qo]

Because America is owned by the people not our government who sends all our money overseas

[@danielsummers1054]

In Australia, Canada, New Zealand property is now an asset class with tax incentives. Sadly genie has already been let out the bottle. The co-ownership amongst friends is great for lawyers & government fees (strata is bad enough) re-amending contracts & titles. Unfortunately savings in the bank only keeping up with inflation % or investing in Shares/EFT won't keep pace with $1m leveraged asset. Even single property owners are falling behind, as the gap between properties widens to the house they want eventually want upgrade to.

[@coopsnz1]

high taxation the problem in australia the government stealing 80% of your money why you struggling to pay off a mortgage

[@RARochester]

Talk about a feminist broadcast.

[@darkbrownblm2854]

How can developers build enough housing for nine billion people? There isn't enough space on the planet. We must admit that we've shifted too a renters market globally and tax trillion dollar companies too subsidized renters rent, that's the solution.

[@joshuaarnejo5622]

0:39-0:45 - This is an edit of iShowSpeed dances One Kiss.

[@tyronevincent1368]

Preditory gentrification

[@firstpostcommenter8078]

Afford a house where? In big cities like New York? Not even in Staten Island of New York but in Manhattan of New York? You need to understand that spatial planning of these cities are not done to accommodate rest of the population of USA. So either increase the number of cities or change the municipal borders of existing cities.

[@toddygallent7258]

The entitlement of these individuals is unbelievable.

[@chrisbaker2669]

How do you know profits are up? Yes the rent is up but so are costs to own a home. The cost of homes have doubled in the last 7 years, interest rates are 2-3% higher, insurance cost are higher. The cost of owning a home is sometimes double the market rent so how is that price gouging when the rent doesn’t cover every expense? Property taxes rise every year. Before we left the gold standard the average house cost $25,000 today it cost $425,000 so the value of the dollar going down is correlated with housing prices going up. If the value of a house is $25,000 you can charge a lot less money for rent than if a house cost $425,000.

[@brettm1583]

Lol skyrocketing prices in Nz😂, their market is down 20%

[@jayr9948]

Homelessness is 99.9% mental illness issue not housing crisis .

[@baldeagle4710]

So true

[@pnc1358]

Bitcoin is fixing this

[@Gregoryking-e9q]

When you have a limited number of anything prices go up and that what you see right now here in the United States we haven't built a lot of houses in recent years .and went Biden came on as president that was one of the thing he did was to building more houses . and because of the covid 19 everything was much higher like building materials and things like that so president is building 2million more houses just like Harrison when she becomes president she wants to build 3 million more housing once you limit the once we build more housing the housing prices will go down because it won't be a limited number of housing and our population has grown more and more in the in this couple of years

[@red_light_3937]

I think a piece that’s getting missed a bit and should be added onto the larger conversation is credit. Even if priced & loans are better leveled out & certain housing supply issues are alleviated many young & vulnerable Americans won’t have the credit score & history for the mortgage. It was alluded to in one of the +:k +ōks & by Charlotte. But my interest is now piqued since in the longer term that is a personal problem of mine as well. I’m wondering more seriously if a co-ownership situation at least temporarily would help me build up my credit score here in the USA.

[@homefulsolution]

This is old huh? Leilani isn’t the un rapporteur anymore.

[@Travellhubber]

HIS BALL las also lost their housing 😂😂😂😂😂😂😂

[@Atlas-y8u]

So tara has some fancy titled job ive never heard of and from what i heard her say she is only there to rattle of statistics and info we already know

[@chris.asi_romeo]

Generation broke.

[@thishandleisntavailable.]

lol this episode is one big feminism like do you know men exist?

[@nosay2069]

The communal living girl sounds like an industry plant.

[@justinlucas]

Btw, 55 million immigrants come to the USA from 2021 to 2024; that's why we don't have a home for new people.

[@monkaf]

True. 👍 And they are still comming. And a lot of them have money to buy, so the locals have to deal with high demand.

[@SureshMenon-c9x]

Without the hardworking , high tax paying immigrants, how can the USA survive?

[@saagisharon8595]

How did you get to such a figure? That's like a 20% increase which is astronomical

[@TheLolz1988]

Problem is these are kids who dont understand how the economy and life works

[@carultch]

Nobody understands how the economy works. Not even economists.

[@saagisharon8595]

You mean like how it starts reasonable and ends up rigged?

[@Anthony-dj4nd]

F em! 😂

[@CrissySweets-nc7vz]

😂

[@sandybeach3576]

This is leftist propaganda 😅

[@TexasMade903]

@@sandybeach3576 How's that?

[@CrissySweets-nc7vz]

@@sandybeach3576 look at the hair it’s awful

[@satrah101]

Most of the high profile lefties are jumping ship on the right boat.

[@corrosivedevourer]

Get rid of capitalism and replace it with socialism

[@saagisharon8595]

Replacing one ism with an other means replacing one problem with an other

[@makaiokalahama]

@@corrosivedevourer 😂😂😂😂😂

[@rohitnayak9952]

Palestine is best place for home buyers

[@Omar_Zazzle]

No! The best place to get free housing is in North Korea.

[@mathelga]

When you let housing become all about profit and capital gain and allow banks a huge slice of the action, well this is the result.

[@Anonymoususer1930]

Brought to you by George soros.

[@Omar_Zazzle]

Is that Moe Howards granddaughter? 🤢🤢🤢🤮

[@richardwiediger7298]

Never fear, the politicians are well taken care of!

[@bmoshareholderappleshareho855]

@@richardwiediger7298 that’s sounds like a joke.

[@lizw2731]

This is sad that I don't know how my own children will afford to live.I know I don't want to live in communal situation been there done that college 😔