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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Mick Mørmøny who wrote (27853)	3/7/2005 11:23:31 AM
From: Tradelite	Read Replies (3) \| Respond to of 306849

re your post: Can the Class of 2005 Pay the Rent? <<Then comes graduation, and guess who's home - to stay. Sixty percent of graduates head back to the nest.... This year's graduates, though, face the best entry-level job market in more than three years, says Challenger, Gray & Christmas, the outplacement firm. It notes recent government data showing that the jobless rate for those with a bachelor's degree or higher had fallen to 2.4 percent. Business graduates should have the best prospects, it said, especially those in fields like finance and marketing. >> The things young people today are doing after graduation seem far different from earlier times. Both my 25-year-old and 22-year-old rent rooms very economically from buddies their own age who have recently purchased brand new homes--one a detached house in Atlanta and another a three-bedroom condo in North Carolina. My older son's girlfriend owns her own condo and lives in it alone with no financial help from roommates. These folks went into these situations almost right out of college with no thought of returning to any parent's home. Frankly, I'm impressed that someone in his early 20's would purchase a home and take in his friends to help pay the mortgage. Sounds like smart business to me--and it helps his friends, too. Living in a brand-new home with no faceless landlord to deal with sounds great. Home ownership seemed out of the question when I was that age. What makes it all the more surprising is that today's kids have much higher expenses these days, considering what they "must" spend on car insurance, health insurance, cell phones, computers, etc.