Hey Millenials, I get it; it's hard to commit to something so permanent like a 30 year mortgage payment when the idea of choosing between pizza or tacos for lunch is already such a challenge. When one is focused on finding affordable rent, paying student loans, and trying not to get distracted by an endless stream of social media, Tinder, and Pokemon Go, who has time to learn about qualifying for mortgages, building equity, and mortgage interest tax deductions? Let's face it, homes are what couples buy when they're planning to have kids. Until then, your homie's couch works perfectly fine, am I right?
And then there's the economy. It's unfair that Baby Boomers left you with a financial crisis and a struggling economy, outsourcing your manufacturing jobs to China and Mexico, and leaving you with Mcjobs as the entry-level job du-jour. And now you're being blamed with avoiding family formation and spurring the economy with home purchases. It's enough to want to reprogram Grandpa's ipad and change all of the icons around to leave him as frustrated as you. No more stories about walking to school for miles unsupervised please Grandpa.
Boomers were born at the beginning of America's rise as the world superpower, when Europe was decimated after World War II and America was the manufacturing hub of the world. Millenials on the other hand came into the world at the rise of the Internet. Think about that for a second. Coddled and privileged you may have been, with endless choices and an aversion to obligations, you were born in the Age of the Internet, where all things are possible and information is ever at your fingertips. You may complain of a lack of good paying jobs, but the truth is, before your time people had to go to a library or community college to learn how to do anything. People had jobs; they could go to work in a coal mine or at a steel mill, or one of those auto manufacturing plants. Now, you can make cat videos and post it to Youtube, or produce an electronica track and post it to Myspace and become an instant superstar, or produce an app and find an instant audience of millions. That is possible. The middleman of finding an agent and shmoozing a studio network has been cut out. The generations before you were the hands that built the world. Now you all are the minds that shape the world. You code the software, design the video games, write the content, film the videos, compose the music, build the start ups. And ultimately, isn't that what you want? Isn't that a greater expression of who you are and what you can be? So embrace the challenge folks. You can do it. America believes in you. Learn what you need to learn. Be what you want to be. And then start buying some real estate. You need to live somewhere and frankly, your folks love you but they need their guest bedroom back.
- Brian Nguyen is a senior loan consultant (NMLS 659743) who learned more about this stuff than he ever intended to. The opinions expressed here are solely his own. He can be reached at 949.667.2887 or firstname.lastname@example.org