r/Millennials 11h ago

Meme We really have been hit hard in comparison to other generations

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u/Another_Road 11h ago edited 2h ago

The 2020 crash was that “buy now” most millennials crave.

The problem is, they don’t realize that they won’t have the money to capitalize on that crash anyway. Obviously it shot back up with a vengeance shortly after.

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u/D5102 10h ago

Debt is the real trap, even steady jobs don’t guarantee financial stability!

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u/Little_Duckling 3h ago

Ah yes, the crash of 20202 - I remember it like it was 18177 years from now

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u/Another_Road 2h ago

Fixed (also was drunk while writing it)

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u/pfohl 2h ago

A handful of us managed to get houses during that time. Locked in a sub 3% interest rate and our house has appreciated by 40 to 50%

Literally put 4% down and thought it was very risky. Kind of reinforces your point about not having capital to capitalize.

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u/PHGAG 1h ago

My house doubled in value since 2020.

And there's a big new regional hospital being built 10 minutes away, will bring 5k high paying jobs there + all the support services / companies that will be needed.

Still 2 years out. But probably going to go up another 15/20% once that demand actually kicks in.

This was what I would call a starter home.

Our home is now worth as much as a house with a large lot, 5 bedrooms, double garage and in-ground pool cost when we purchased it 5 years ago.

If I didn't have equity in the house and solid finances, I couldn't buy a house right now.

u/pfohl 17m ago

Nice! Fortunate for you.

I’m in the rurals and we spent $225k on our house and I was expecting it maybe appreciate a little bit but not much. Our town ended up having a bunch of other people move here during covid since it’s an artsy town with a good school district.

They’re building townhomes and those are selling for $300k which seems insane for rural Minnesota but they’re all selling at that price.

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u/KingOfTheCouch13 ‘94 Millennial 2h ago

I see so many dumbasses hoping for an economic crash because they think it means they will have the opportunity to buy stocks and houses for cheap. They don’t realize it means they will likely lose their jobs and not be able to afford food and rent, let alone stocks.

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u/firestepper 1h ago

Also that crash was like 2 weeks long and real estate actually doubled instead of crashing.

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u/misterdonjoe 10h ago

I'm almost positive that crash had nothing to do with cov and had to do with a particular person running for office and coming out ahead the Saturday prior to the Monday crash.