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The one story we tell ourselves about homeownership is it is a path to a more stable, equitable future. The idea is that it is a responsible decision that requires commitment and hope. It is centered around bright futures, long lives, children, grandchildren, and hard-earned success.
The second story is about the horror of being trapped, especially for the members of the cash-poor, dream-rich millennial generation.
The idea of owning a suburban home was fed to Americans by people in power: Suburbia has always been suitable for industry.
Big houses = big appliances. This fed the coal, steel, and automaking industries. With it came cars and oil that made the postwar American suburb possible. It is all as much a creature of government as of the market.
There is a widespread shift in how people view their first real estate purchase. They buy because it makes sense and because they don’t want to be “mortgage poor.”
It is no longer seen as a home, but merely as a place for comfortable living without paying rent. It is a way of accumulating wealth without having to do much else.
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Most of the city planning is done so that the affluent neighborhoods are in quieter areas.
However, this is also nullified when the ultra-rich who travel frequently stay close to the transit hubs (like Airports), being exposed to high decibels of noise.
Millennials are increasingly staying at home more often. Night outs, dinner parties, sporting events, and other outdoor activities are increasingly on the decline among these youngsters.
Great TV content and a whole lot of options on the internet like Netflix have contributed to the rising trend of millennials staying at home more.
New Economy Apps on the smartphone make it easier to order pizza, or anything else required to stock the fridge. It's also less risky to stay at home and one can have a more predictable and manageable kind of fun, while being in control.
The downtime that the millennials are craving more of is also related to self-care and recharging, away from the outside world.
They have countless new options of activities to do at home, be it facial care, journal writing or yoga practice.
Millennials who claim to be ‘self-made’ get support from their parents and in some cases, enjoy the privilege too, but are reluctant to admit the same. They have to show the world that they are abl...