This one kind of surprises me, because who’d expect many members of our most callow generation (sorry, couldn’t resist to be such enthusiasts for one of the more traditional accouterments of classic American motoring, the ‘camper’? But it turns out they’re really into the lifestyle, if surveys and reports are correct:
‘The RV space is on fire’: Millennials expected to push sales to record highs
"Millennials are a major target market for RV companies. According to the 2017 North American Camping Survey from KOA, a private campground company, millennials make up 38 percent of campers, but 31 percent of the general population.
Also, since many RV customers make multiple purchases over time, catching them when they’re young is key. To capture the coveted age range, companies have had to make major design changes to their product.
While the mention of an RV might conjure up an image of a big motorized home without many amenities, that has changed. In fact, just two years ago, the KOA survey found younger campers valued having WiFi almost as much as access to toilet paper. The industry needed to keep up.
Now, most people in RVs will have full access to TV, WiFi and whatever else makes modern life modern."
It’s not that they are into the lifestyle. It’s that that is the only house they can afford.
What’s funny – or very sad – is, you’re about the the fifth person to make that observation to me this weekend, as I started talking about this RV phenomenon. And there’s an element of truth, if what Gallup found is correct, to what you’re saying:.
Home ownership rates nationally appear to have peaked in 2007 at 73%. Today, rates are down to 63%. That’s a shift toward renting and other modes of living – such as in one’s parents’ basements – involving many billions of dollars, something that no doubt is making landlords happy. Plus, except for senior citizens (where the rate has actually increased to 82%), the shift has occurred in all U.S. regions and across every income group.
"Low- and middle income citizens, young people and those living in the West experienced above average drops in ownership. Even among those with incomes over $100,000 home ownership rates have dropped, now below 90%.
Home ownership among those in the age group 18 to 29 dropped from 36% to 26%, those aged 30 to 49 down from 73% to 63%, those 50 to 64 down from 84% to 77%. Reasons vary but among millennials, for instance, marriage is coming at a later age, also postponing accumulation of the joint financial income and wherewithal for life’s largest single investment."
Older Americans Buck Trend of Decreased Homeownership | Gallup
It’s not that they are into the lifestyle. It’s that that is the only house they can afford.
Haha was literally going to say the same thing. At least in Denver metro where I am the prices are just killing the ability for younger people to buy. The prices are high and the rent is high so it’s incredibly hard to save for a down payment.
We have a doc in our group who has been in practice for 5 years still renting an apartment. Likes to travel alot, drives a mercedes expensive clothes and shoes. It is a different outlook for sure. To be fair though I’m not sure she is typical of millenials. We had a nursing student in office the other day who was managing a small apartment complex and had another side job. And she was maybe 20 years old. Hardest working person I have seen in a while. Title post suggested land yacht like Winnebego but what came to my head was “van life”
We have a doc in our group who has been in practice for 5 years still renting an apartment. Likes to travel alot, drives a mercedes expensive clothes and shoes. It is a different outlook for sure. To be fair though I’m not sure she is typical of millenials. We had a nursing student in office the other day who was managing a small apartment complex and had another side job. And she was maybe 20 years old. Hardest working person I have seen in a while. Title post suggested land yacht like Winnebego but what came to my head was “van life”
Apparently, the most popular RVs aren’t the land yachts, but the smaller ones (less than 10,000 lbs) that can be towed by an SUV or pick-up truck. My father has one of those pop-up campers I depicted in my OP. He loves it, and he can take it anywhere he and his SUV care to go, which is mostly state park campgrounds these days.
It’s not that they are into the lifestyle. It’s that that is the only house they can afford.
What’s funny – or very sad – is, you’re about the the fifth person to make that observation to me this weekend, as I started talking about this RV phenomenon. And there’s an element of truth, if what Gallup found is correct, to what you’re saying:.
Home ownership rates nationally appear to have peaked in 2007 at 73%. Today, rates are down to 63%. That’s a shift toward renting and other modes of living – such as in one’s parents’ basements – involving many billions of dollars, something that no doubt is making landlords happy. Plus, except for senior citizens (where the rate has actually increased to 82%), the shift has occurred in all U.S. regions and across every income group.
"Low- and middle income citizens, young people and those living in the West experienced above average drops in ownership. Even among those with incomes over $100,000 home ownership rates have dropped, now below 90%.
Home ownership among those in the age group 18 to 29 dropped from 36% to 26%, those aged 30 to 49 down from 73% to 63%, those 50 to 64 down from 84% to 77%. Reasons vary but among millennials, for instance, marriage is coming at a later age, also postponing accumulation of the joint financial income and wherewithal for life’s largest single investment."
Older Americans Buck Trend of Decreased Homeownership | Gallup
We bought our house in 2009 at $265,000. Today it would sell for around $500,000. I have no idea how we could afford that price.
Not so surprising, I don’t think. First, it’s more affordable for a generation who may not be ready to wait, work, build wealth, and then buy a home. Second, they can claim that it’s a lifestyle choice, and talk about how they have mobility, aren’t tied down to one place like stodgy old people, and about how it’s so much more socially responsible.
There was a thread a few months ago about the HGTV series on tiny homes, and how the hipster douchebags on it were talking about how they’re inventing a new definition of what it means to be “successful” when it was clearly an issue of people who just didn’t have any money to buy a house, and who didn’t really want to do a job so they could build that type of wealth.
Newsflash! If you want to be a couple who teaches yoga and manages an Etsy store that sells artisan crafted kayak seat covers, then you’re not going to have enough money to buy a normal sized house.
Not so surprising, I don’t think. First, it’s more affordable for a generation who may not be ready to wait, work, build wealth, and then buy a home. Second, they can claim that it’s a lifestyle choice, and talk about how they have mobility, aren’t tied down to one place like stodgy old people, and about how it’s so much more socially responsible.
There was a thread a few months ago about the HGTV series on tiny homes, and how the hipster douchebags on it were talking about how they’re inventing a new definition of what it means to be “successful” when it was clearly an issue of people who just didn’t have any money to buy a house, and who didn’t really want to do a job so they could build that type of wealth.
Newsflash! If you want to be a couple who teaches yoga and manages an Etsy store that sells artisan crafted kayak seat covers, then you’re not going to have enough money to buy a normal sized house.
RVs are just an extension of that idea.
Link? I’ve been looking for a hand crafted kayak seat cover.
Not so surprising, I don’t think. First, it’s more affordable for a generation who may not be ready to wait, work, build wealth, and then buy a home. Second, they can claim that it’s a lifestyle choice, and talk about how they have mobility, aren’t tied down to one place like stodgy old people, and about how it’s so much more socially responsible.
There was a thread a few months ago about the HGTV series on tiny homes, and how the hipster douchebags on it were talking about how they’re inventing a new definition of what it means to be “successful” when it was clearly an issue of people who just didn’t have any money to buy a house, and who didn’t really want to do a job so they could build that type of wealth.
Newsflash! If you want to be a couple who teaches yoga and manages an Etsy store that sells artisan crafted kayak seat covers, then you’re not going to have enough money to buy a normal sized house.
RVs are just an extension of that idea.
Don’t hold back, sir. Tell us what’s really on your mind when it comes to hipster d-bags.
It’s not that they are into the lifestyle. It’s that that is the only house they can afford.
What’s funny – or very sad – is, you’re about the the fifth person to make that observation to me this weekend, as I started talking about this RV phenomenon. And there’s an element of truth, if what Gallup found is correct, to what you’re saying:.
Home ownership rates nationally appear to have peaked in 2007 at 73%. Today, rates are down to 63%. That’s a shift toward renting and other modes of living – such as in one’s parents’ basements – involving many billions of dollars, something that no doubt is making landlords happy. Plus, except for senior citizens (where the rate has actually increased to 82%), the shift has occurred in all U.S. regions and across every income group.
"Low- and middle income citizens, young people and those living in the West experienced above average drops in ownership. Even among those with incomes over $100,000 home ownership rates have dropped, now below 90%.
Home ownership among those in the age group 18 to 29 dropped from 36% to 26%, those aged 30 to 49 down from 73% to 63%, those 50 to 64 down from 84% to 77%. Reasons vary but among millennials, for instance, marriage is coming at a later age, also postponing accumulation of the joint financial income and wherewithal for life’s largest single investment."
Older Americans Buck Trend of Decreased Homeownership | Gallup
Driving around California last week, looking at new home construction, I passed a few RV parks. One out in Corona was $495/month. It was packed and they weren’t all senior citizens. Cost has to be a huge factor.
Driving around California last week, looking at new home construction, I passed a few RV parks. One out in Corona was $495/month. It was packed and they weren’t all senior citizens. Cost has to be a huge factor. \
Out in the Coachella valley there are parks where you have to buy the RV space, and some are a million+. My wife used to be the fitness director for one of them, it was like its own little city. And virtually everyone just came for the winter and then back to wherever their cold mansions were in the rest of the country. The valley there is just littered with these parks, but no pop ups, tent trailers, or vintage whatever’s. This one park had a 40ft minimum and coach could not be older than 10 years. So basically about 150k entry level for the coach, with an average of about $500k…
Please then, old curmudgeons, explain to me the allure of home ownership. I’m a late 20s male and have absolutely zero desire to be a homeowner and it isn’t for lack of money.
Please then, old curmudgeons, explain to me the allure of home ownership. I’m a late 20s male and have absolutely zero desire to be a homeowner and it isn’t for lack of money.
Please then, old curmudgeons, explain to me the allure of home ownership. I’m a late 20s male and have absolutely zero desire to be a homeowner and it isn’t for lack of money.
You mean, aside from the financial benefits of property ownership as opposed to rental?
Please then, old curmudgeons, explain to me the allure of home ownership. I’m a late 20s male and have absolutely zero desire to be a homeowner and it isn’t for lack of money.
How is your equity position in your apartment?
That’s the allure of home ownership.
I will use my brother as a recent example. He’s moving from Boston to Philly. He sold his home in the Boston area for almost twice what he paid for it five years ago. He will walk away from that transaction with about $400,000 in his pocket. If he were renting that house he would walk away with exactly zero.
Please then, old curmudgeons, explain to me the allure of home ownership. I’m a late 20s male and have absolutely zero desire to be a homeowner and it isn’t for lack of money.
How is your equity position in your apartment?
That’s the allure of home ownership.
I will use my brother as a recent example. He’s moving from Boston to Philly. He sold his home in the Boston area for almost twice what he paid for it five years ago. He will walk away from that transaction with about $400,000 in his pocket. If he were renting that house he would walk away with exactly zero.
This is an article I wrote for the San Francisco Chronicle’s HomeGuides section a few years back. It’s on renting versus buying:
Myths About Renting vs. Buying a Home | Home Guides | SF Gate
It’s not that they are into the lifestyle. It’s that that is the only house they can afford.
What’s funny – or very sad – is, you’re about the the fifth person to make that observation to me this weekend, as I started talking about this RV phenomenon. And there’s an element of truth, if what Gallup found is correct, to what you’re saying:.
Home ownership rates nationally appear to have peaked in 2007 at 73%. Today, rates are down to 63%. That’s a shift toward renting and other modes of living – such as in one’s parents’ basements – involving many billions of dollars, something that no doubt is making landlords happy. Plus, except for senior citizens (where the rate has actually increased to 82%), the shift has occurred in all U.S. regions and across every income group.
"Low- and middle income citizens, young people and those living in the West experienced above average drops in ownership. Even among those with incomes over $100,000 home ownership rates have dropped, now below 90%.
Home ownership among those in the age group 18 to 29 dropped from 36% to 26%, those aged 30 to 49 down from 73% to 63%, those 50 to 64 down from 84% to 77%. Reasons vary but among millennials, for instance, marriage is coming at a later age, also postponing accumulation of the joint financial income and wherewithal for life’s largest single investment."
Older Americans Buck Trend of Decreased Homeownership | Gallup
We bought our house in 2009 at $265,000. Today it would sell for around $500,000. I have no idea how we could afford that price.
Please then, old curmudgeons, explain to me the allure of home ownership. I’m a late 20s male and have absolutely zero desire to be a homeowner and it isn’t for lack of money.
Wait about 7 to 10 years sunshine. I was once like you about 7 to 10 years ago
My wife and I purchased a condo (2 bedroom, 2.5 bathroom) in San Jose for $214K in 1998 and sold it five years later for $562K.
In 2002, we purchased a house (3 bedroom, 2 bathroom) in Mountain View for $700K. We have done some improvements and turned it into 4 bedrooms and 3 bathrooms. I just checked Zillow and they are estimating the value at $2.49M.
to be such enthusiasts for one of the more traditional accouterments of classic American motoring, the ‘camper’? But it turns out they’re really into the lifestyle, if surveys and reports are correct: