Why Younger Generation CAN'T Afford to BUY a HOUSE

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SUNPIRE

Күн бұрын

Пікірлер: 106

@Sunpire 2 ай бұрын

What do you think about this topic? Drop your thoughts in the comments⬇

@manolisgledsodakis873 2 ай бұрын

I'm one of the lucky "boomers". We bought our house cheaply (30k) from a couple who were divorcing and desperate to sell. A year later the house was valued at 60k. We spent 30K extending it to 5 bedrooms. And now it's probably at 300k. The mortgage was just paid off this year. We let it for a ludicrously low amount because we have good, reliable tenants. Our kids left school, married and found well-paying jobs in the UK. Pretty soon they were able to get mortgages to buy their own houses. But now, as you say, it's much more difficult and, unless you hit on a scheme to make lots of money, your only choice is to buy a shed.

@Sunpire 2 ай бұрын

Times had changed for sure. We can't find this kind of deals anymore, it's much more difficult. We need to adapt and find other options.😅

@josephj6521 2 ай бұрын

My parents bought their home for $50k in Australia. 50 years later the same home is worth……………. $4,000,000! Yes! It’s not a large home. Who can afford that? Who are buying properties? Many young people are considering leaving Australia. I’m over it. I think there is no value buying anymore. Depends where in the world. How much does a 3 or 4 bedroom home cost in Crete on average?

@Sunpire 2 ай бұрын

It really depends on the location, the price varies a lot. But I think you're looking at 300-400k maybe, of course you can get cheaper in the villages or more expensive in the city.

@Rachelgpuentes 2 ай бұрын

Hello from Florida. As I get older, I have come to realize that material things don't matter much to me anymore. I have also realized that I don't need much to live a happy and fulfilling life. I would rather live abroad somewhere else where it is more affordable and less stressful than to live in the States where everything is so expensive and where life is so hectic. I have also realized that my spiritual, physical & mental health is much more important to me than all the material things in life. I want you to know that for your age, you are an inspiration not only to me but to all the other young couples like yourself. Keep living life to the fullest and keep doing your videos. I love to watch them!

@Sunpire 2 ай бұрын

Thank you so much for commenting and sharing your thoughts! You're very kind, it means a lot to us. We're happy to see that the way we see things works out in time and the values we have now are appreciated by someone with more experience in life. 💙🙏

@paokman 2 ай бұрын

I completely agree: freedom is the number one priority, to enjoy life!

@Sunpire 2 ай бұрын

Yes! Maybe health is a hit more important, but freedom is definitely the next one!

@ΠαναγιώτηςΦούκας-ρ9ψ 2 ай бұрын

I am a Professor of Theology and Philosophy in Greece since 2017, so I spend almost evety year in a different city. I rent small affordable small houses, so that I can live, go out, buy books etc. I've been to Athens, Thessaloniki, Alexandroupoli, Chania and Nea Smyrni. Athens was the worst and most expensive, Alexandroupolis was the cheapest, but Chania had -and still has- the best quality of life in general. But, the prices keep going up...

@Sunpire 2 ай бұрын

Thank you very much for watching and sharing your thoughts with us 🙏 I agree that Chania offers a great quality of life for us. The prices go up everywhere these days, unfortunately.

@bwana-ma-coo-bah425 2 ай бұрын

You sir are a perfect example of what the Greek government has done to all Greeks. Had you been working overseas with your qualifications, you would be rewarded far more financially and be able to buy anywhere in Greece.

@gerrymanakis6694 2 ай бұрын

I need to have my kids watch this. Great topic. By the way, that was a beautiful hiking path and even you two couldn’t get lost on it.😂😂😂. Beata and I miss you both.

@Sunpire 2 ай бұрын

Thank you!🙏💙 we miss you too, guys! This path was an easy one! Close to where we live so we're familiar with it🤣

@smv3624 2 ай бұрын

young people should watch this video. you are such an inspiration! We lost the meaning of life due to the wrong lifestyle. Happiness is somewhere else.

@Sunpire 2 ай бұрын

Thank you for saying this! We hope others can get some value from our videos🥰 happiness looks different for everyone, I hope you find it!💙

@smv3624 2 ай бұрын

@@Sunpire you too guys!you deserve this!

@Sunpire 2 ай бұрын

Thank you!❤️

@jacobstheory 2 ай бұрын

It's everywhere like this unfortunately but in Europe it's even worse. Up until the pandemic it was kind of ok (still bad) but now even the really rich can't afford decent housing. For instance in the centre of Chania you need 300000 euros for a new 50sqm apartment whereas 5 years ago you needed 150-200.

@Sunpire 2 ай бұрын

Prices have skyrocketed for houses everywhere. It's crazy. Probably here, as you say, it's even worse being a touristic place that's more popular as time goes by.

@mohammedalreqeb7480 2 ай бұрын

I think the solution is to owe your business. Start something online as a drop-shipping, online store, affiliate, etc, and try to be creative, you need marketing skills. Just try to know how to get a good ROI from online ads/campaigns. I can't think of anything else, currently, we are just salves working for employers that pay nothing.

@Sunpire 2 ай бұрын

This is what we're trying to do, be creative and find something that allows us to keep our freedom. Thank you for watching and dropping a comment, sharing your thoughts 🙏

@johnlagousakos3958 2 ай бұрын

Great video, guys! I totally agree with everything you stated. I'm around the same age as you guys (29) and it's incredibly hard over here in North America to buy property as well, especially if you're living off of a single income. Even with a great job, you can't save much since rent, groceries, and other things are so expensive. The middle class is pretty much dead, and the wage disparity between the top 1% and the rest only widens. Inflation has a lot to do with it as you guys stated, but it's also just much harder in general. There's more and more people, and homes aren't being built fast enough (especially true in developed and highly populated cities, look at how insane the prices in Athens are for example) - therefore, supply stays similar while demand goes up, so the prices of real estate goes up. Only well-off people who usually have a dual income can afford nice places. Thank you as always for the great content, Raul and Amalia!

@Sunpire 2 ай бұрын

Hello, John!😊 Thank you so much for supporting our channel!🙏 It means a lot to us!💙 We truly appreciate it! You're absolutely right. The prices are insane especially in the well developed areas. Here on the island, the prices seem to be higher than in the mainland. Unless it's an abandoned village, nothing is cheap anymore.

@johnlagousakos3958 2 ай бұрын

Also, you guys totally hit in the nail on the head with renting vs mortgage. The biggest pro with buying is you're building equity into your home. Your money isn't just going to a landlord, it's going to something you own. Also, you'll be on a fixed payment plan for 20-40 years, the amount you pay will stay the same roughly. So, now you might pay $500 for a mortgage payment every month vs $500 towards rent, but in 30 years, you'll still be paying that $500, while people will probably be paying $2,000 for rent. Huge difference long-term that people don't think about.

@Sunpire 2 ай бұрын

The mortgage interest depends on the country and on the bank, etc. In the UK and even in Ro, the monthly payments can increase. One thing is for sure, the bank will never lose money.

@gammyhorse 2 ай бұрын

Rich getting richer and the middle class is becoming poor. If we don't change that in a decade or so, we' re doomed.

@Sunpire 2 ай бұрын

We have to find some solutions for the future, otherwise there's a generation of homeless coming out.

@gammyhorse 2 ай бұрын

@@Sunpire I wish you good luck with all my heart

@Sunpire 2 ай бұрын

Thank you for your support! We really appreciate it!💙

@mohammedalreqeb7480 2 ай бұрын

If someone earns 15k euro annually in Greece and saves 5k annually, then he/she needs +50 years to buy a small apartment assuming the prices won't rise! it's just insane.

@Sunpire 2 ай бұрын

Yes, it's crazy. And this happens in so many places, not only Greece, unfortunately. 😔

@chriszavos 2 ай бұрын

Don't say you can't afford something, instead say that you can and work towards it. Invest your time and money wisely instead of wasting it. This will generate wealth and then you can afford anything.

@Sunpire 2 ай бұрын

You're right! We need to rephrase a little bit. We are working towards our dreams! Thank you for watching and your support! 🙏💙

@mlagmar7105 2 ай бұрын

I am 41, and I have an apartment, but I do agree with you - there are so many things that the society made us "want". I can definitely go with a tiny place and few material things. I just want a nice surrounding, like the one you live now.

@Sunpire 2 ай бұрын

Ideally, if you could have it all, that would be great, but sometimes you have to choose, and then it becomes a matter of priorities. 😅

@mariaskylla268 2 ай бұрын

Hello from Australia love watching you guys. ❤❤

@Sunpire 2 ай бұрын

Thank you for watching and supporting us! 🙏❤️❤️❤️

@SpKor-e8e 2 ай бұрын

i am from Greece ❤❤

@Sunpire 2 ай бұрын

Hello form Crete!💙💙🇬🇷

@SpKor-e8e 2 ай бұрын

Hello

@seanorourke2142 2 ай бұрын

Love your videos. You guys are so great together. I’m building a place for my young son near Marathi for him to enjoy when he gets older. Will be semi retiring there in a few years. I wish you guys all the luck in finding a home. You made the right decision to move. It will be fine once you get settled.

@Sunpire 2 ай бұрын

Thank you very much for watching us and for your support💙💙🙏🤗

@deanpapadopoulos3314 2 ай бұрын

When the board switches the goals must switch. To desire a horse when cars are available is allowing goals for another time to guide one’s goals for a time that’s changed. Opportunities rest with people who will move to other locations…like both of you. Big opportunities are for those who can throw out old goals that are not for this time, engage in empirical thinking instead of romantic thinking, and decide on goals for the way things are presently…as opposed to how things were.

@Sunpire 2 ай бұрын

You are right. In this changing world, we need to adapt to whatever comes next and align with our interests . Thank you very much for watching us and for taking the time to leave a comment 💙💙🙏🤗

@deanpapadopoulos3314 2 ай бұрын

You’re right. When people with money want to sell a home they’re willing to wait until they get their price. Thirty years ago people’s money was in the house. So, when they needed to sell they had to price the house so that it could be sold. Renting is a far better option if you can deal with a smaller space, switch the mindset away from a house will make you happy, and put your money into investments like a rental or preferably into the stock market.

@Sunpire 2 ай бұрын

Thank you for watching and the advice! 🙏 we'll see what options we'll have in the future.

@lostmypassword1 Ай бұрын

I love your videos and how real and adorable you are. Remember, priorities are different depending upon your location. I see where you are now and love your minimalism approach to life. You have what Greece has to offer and it's so beautiful. The community of people welcoming you to their amazing country and sharing the gift of friendship is worth millions. You have outdoor space to explore, bask in and go for total immersion into the mineral rich sea. How many miles of this is included in the price of your apartment? See how rich you are? I'm in an area, for the next 3 months, of over the top luxury stuff mindset with fancy cars, big gated houses, too much plastic surgery, and people who are not happy. They're too busy wanting more stuff and the conversation is reality show level gossip. It's sad. Renting gives you the freedom to travel and relocate whenever you feel ready for a new adventure (or have a really annoying neighbor). Owning a home is more than the cost of the house - it's the upkeep. For example, I just spent $1000 getting my trees trimmed and $550 to get the fence painted (which was a surprise HOA expense). Enjoy your freedom! Personally, I feel burdened by having too much stuff. It's left over habits from lockdown and is common. I'm coming to Crete in April to enjoy IRL what I can only appreciate now by watching your videos. Yes, I'm ready for a break from the US and the political nightmare we're in. Enjoy your freedom and one day, if you have kids, let them enjoy an untethered life with you. Most of all, don't give into the pressure to do what everyone else is doing. Just do what makes you truly happy. Hope this wasn't too preachy. Love your content and the conversations in the comments.

@Sunpire Ай бұрын

It wasn't too preaching. We love to hear a mature point of view about life. We love your comments 💙🤍💙🤍

@Elpe-x2r 2 ай бұрын

As soon as I inherit some real estate and bank accounts I'm planning to sell the real estate, quit my job and move to bali. I've been working since I was 20, I'm 37 now and see myself working for another decade or so, but around my 50s I'm planning to retire in Bali on a second home visa, buy a house there and rely on my savings. The cost of living there is much cheaper than in the west, a very good house still costs less than it does in the west, so that's my plan for the future. Investing in Europe to me is a losing game.. also I don't like the political situation in greece and generally in the west, so escaping the western world is my dream. P.S. I've been in bali several times and I know this is the place for me. I know it would have been better if I kept some real estate for a passive income, but I honestly don't find any meaning in this money madness anymore. I'm a minimalist, enough savings, a simple lifestyle and a place u like at your 50s is my answer to life!

@Sunpire 2 ай бұрын

It sounds like a good retirement plan! We hope things work out for you and you'll be able to follow your dream!💙 Thank you for sharing your thoughts with us🙏

@bwana-ma-coo-bah425 2 ай бұрын

So you are waiting for other people to die and leave you money? Is that how you were raised?

@sybilleantjer.8479 2 ай бұрын

I have been observing the real estate market in Crete for almost two years. I can tell you, it is becoming more and more expensive to buy a house in Crete. How about an apartment? Do you really want to stay in Crete? For me Chalcidiki would be an alternative. The houses there are significantly cheaper.

@Sunpire 2 ай бұрын

We did, but I think they are not worth it. It's a bit complicated, but to keep it short, I think a prefabricated house is a safer and more affordable option.

@sybilleantjer.8479 2 ай бұрын

@@Sunpire There are very nice prefabricated houses! I dream of a container house in Crete with a view of the sea 🥰

@josephj6521 2 ай бұрын

@@Sunpiregood idea. From experience, the most important aspect of finding a home is location. If the location is ideal, then the home is less important. Every home is beautiful if the location is good, landscaping is good and the home is neat.

@Sunpire 2 ай бұрын

Hopefully, we'll find a nice location. I think time you can improve your home even if you start on a budget. 😊

@Sunpire 2 ай бұрын

@sybilleantjer that sounds amazing 🥰

@dkib2006 2 ай бұрын

You are only looking at prime areas. There are areas in Greece that buying a home is more affordable for now. Chania is an expensive area of Greece unless you own property from your family already.

@Sunpire 2 ай бұрын

It's true, Chania area is more expensive. Hopefully, we'll find something nearby😊

@geogeo2299 2 ай бұрын

Guys you must save and get a proper concrete/brick house that you can make a family in and leave to your kids! With view to the sea 😉

@Sunpire 2 ай бұрын

Thank you! We're trying, hopefully we'll get that see view house at some point!💙🙏

@AlexandrosNewWorld 2 ай бұрын

Imo it's a simple equation (function if we need to be precise) of supply and demand. Government (in Greece) instead of stipulating supply by removing bureaucracy & building homes (public/private), is instead handing out loans (50% - 75% of the interest is paid by government). Extra loans will stipulate demand, while supply remains the same. Thus, home prices will increase even more. Moreover, this generation will have a huge loan to repay in the next 30 years, which means that by the end of that loan, they will have spent their ENTIRE life repaying a house. If a government fails to focus on the needs of the community (for whatever reason), it's up to the community (us) to be creative and find creative solutions. Elon is doing something nice regarding housing atm - can't recall how he calls it. Basically homes that can be deployed within 1-2 days and cost around 20k USD. Another way to go around it is to live on rent, save money & invest it on a business that can get you much more. :D

@Sunpire 2 ай бұрын

You're absolutely right! The balance between supply and demand is crucial, and it's fascinating to see how creative solutions can make a real difference in addressing housing issues. We can't see ourselves spending all our life paying for a house, so we'll have to get creative! We saw some videos about Elon's houses, very interesting. This means there will be more options for housing in the future. I agree, saving is key in this case. Trying to figure out a way to avoid loans is the best thing we can do. Thank you for commenting! 🙏🏻It's very interesting to share perspectives.💙

@AlexandrosNewWorld 2 ай бұрын

@@Sunpire Ty for your reply as well. Some years ago, I read a book called Rich Dad Poor Dad. It has some valuable insights, explained in a very simple way, regarding debt, taxation, and how a kid with "two dads" learned to think. It's free on the internet as a PDF (also audiobook on YT) so I really suggest you read it if you haven't already. Imagine 300.000 homes being built in Greece now, people would be BEGGING you to buy their 30-year old house dirt cheap and you would be like: Nah ty bro.

@Sunpire 2 ай бұрын

I did read that book! Thank you for the recommendation! It's a great book for young people to educate themselves financially. That's right, people are asking for a lot inly because they know we don't have other options.

@drmonstervibes 2 ай бұрын

my friend what are you telling us? That the government should make houses for people? Do you dream of communism maybe? Because those governments created some very interesting building complexes that none of the youth of today would want to live in! Secondly, the houses Elon is selling are houses that will only comply with US regulations.. In Europe, and especially in Greece, you need houses that are built with the seismic activity in mind, they need to be built as strong as possible, for safety reasons! Thirdly, your argument about the loans is weird because you mention a demand that is already there lol. The loans will be given to people who are already thinking of buying a house/apartment, it's not the other way around! Noone would go "ah, we can get a loan now, we never thought about it but lets just get an apartment"!! It's not a decision you make lightly! Moreover, the last few years a lot of new houses/apartments are available everywhere. Yes they are expensive but houses were always expensive. Out fathers and mothers spent every last of their money to build or buy something. They wouldn't go on trips and spend money (we stayed in tents! lol), they wouldn't go at bars, they wouldn't spend money in general! Did they have jobs that made lots of money? Nope! Anybody can get a house, you just need good planning and moderation in everything you do.

@MrEksatmisis 2 ай бұрын

In my area(northern Greece) you can buy a house for 10K euros so maybe the younger generation can afford to buy a house but they are looking at the wrong places.

@Sunpire 2 ай бұрын

It's good to know there are still affordable places out there!😊 I think it depends on what job you have when it comes to living in an area. Most young people need to be close to a bigger city for work.

@brianhall3586 2 ай бұрын

You're absolutely correct - it's crazy these days.... You need to earn so much more or have rich parents to buy a house... Our mortgage is much cheaper than to rent - i think governments have to control rents so people can save while renting - and that people who "buy to rent" won't automatically make as much money ....

@Sunpire 2 ай бұрын

Thank you for watching and sharing your thoughts here🙏 Yes, it feels difficult these days for many people. We heared people complaining about their mortgage in the UK a lot, that their monthly payments skyrocketed and ended up to be higher than rent.

@bwana-ma-coo-bah425 2 ай бұрын

Hello, it is the one here that you will name your first child after. 😉 If you think it is hard for young people to buy a house it is as equally just as difficult for an elderly couple to retire. Let me give you an example and I speak as someone from Australia. If you were lucky enough to buy a second house and keep it as an investment for your future retirement fund. And let us say for the point of the exercise you purchased that house in 1998 for 100,00 euro. As the years go on your investment has risen in value. In the year 2023 that same house has now a value of 1.8 million euro. Now, if you decide to sell that property, to fund your retirement. You must pay now what is called "capital gains tax" to the government. That means after all of your deductions, for example, interest, and other deductions because the value of that house has increased through no fault of your own. You are looking at paying around 600,000 euros to the government in capital gains tax. So, imagine if you are earning 60,000 euro per year as a salary, you will be giving, all of your yearly salary for the next to years to the government and you will have no income. Love your work.

@Sunpire 2 ай бұрын

Hello, again!😊 thanks for returning to our videos and supporting us!🙏 This is an interesting perspective. I know there are people struggling to retire. I've seen so many videos of retired people moving into tiny houses, and many of them were Australian. I guess people who are wealthy find a way to play the system and stay wealthy. Financial education is very important, and the sooner we learn things, the better. This might be the best solution for all of us.

@bwana-ma-coo-bah425 2 ай бұрын

@@Sunpire Today even the rich are struggling.

@Hill_Master 2 ай бұрын

Τhe only solution I have thought is to win the lottery 😄

@Sunpire 2 ай бұрын

🤣 good one

@bravocharlie777 2 ай бұрын

Hey guys from Australia. Unfortunately what you are describing is happening all around the world and it’s all by design. After all you’ll own nothing and be happy. IYKYK

@Sunpire 2 ай бұрын

Yes, it is unfortunate. But we're hopeful that there will be options and solutions for the younger generations 🙏

@JohnHobitakis Ай бұрын

“Poor and free rather than rich and enslaved. Of course, men want to be both rich and free, and this is what leads them at times to be poor and enslaved.” - Albert Camus

@Sunpire Ай бұрын

👍🏻👍🏻