Gen Z Can’t Afford the Rent

[Traveler]

The average single family home in NJ as of 2022 is 420k.

At 7.9 interest and with property taxes averaging around 10k a year.

You would need a down payment of between 40-80k

Even on a 30 year mortgage that is around a 3000/mo

Basically you need a household income of around 200-250k to be able to comfortably make those payments.

The kids are right to feel like home ownership borders on unattainable.

Lol no you don't. My mortgage in Hawaii is 3k and I make 155k. I can still do what I want within reason and invest.

You need a house hold income of about 120k. So each person making 60k and you can do it. That's reasonable.

Gen Z is bad with numbers. Lol

 

[Lucky_Lefty]

Perfect example of what I'm talking about. These types are going to destabilize the fukk out of these LCOL real estate markets.

Funny thing is these aren't the Boomers I always see folks complaining about. It's their own generation who's fukkin it up for them.

 

[bnew]

[Cursed] The American Nightmare.

Spoiler: text

Posted on Tue Aug 19 03:14:26 2025 UTC

https://v.redd.it/odeqiszb8wjf1

 

[TheMailMan]

Sad part is there are plenty of homes. Most people just drive by abandoned or dilapidated homes that could be fixed up. The government could pay to fix up and sell them.

Just like with most things, everyone is just chasing the newest build homes just because, even though a lot of them are crappy built subdivisions

And when they drive by they lock their doors. I don't wanna live near gratiot lol

 

[ExodusNirvana]

They can't afford the rent in the major metropolis that they want to live in

 

[Json]

They can't afford the rent in the major metropolis that they want to live in

There aren’t jobs in rural Bumrock Arkansas.

The reason those rural areas developed was because they had a major manufacturer provide jobs there

 

[Json]

And when they drive by they lock their doors. I don't wanna live near gratiot lol

Those high priced gentrified areas were the areas you are talking about.

Nobody wants to be the first

 

[Panther]

They can't afford the rent in the major metropolis that they want to live in

too many jobs where the salary doesn't match the cost of living in the major metropolis