American Dream Is Dead: Mexican and Chinese Millennials Have Higher Homeownership Rate Than Americans

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Top Tier Gear USA

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From a cultural and economic perspective, American millennials will likely go down in history as a lost generation. We’re talking about an entire generation that was coddled, and bamboozled by an education system that tricked them into absorbing tens of thousands of dollars in debt for college degrees that are worthless.

They came of age at a time when America’s blue collar jobs were hollowed out and shipped overseas, and wages stagnated across the board. They’re in so much debt that they’ve had to postpone all of the hallmarks of adulthood such as marriage, raising kids, and homeownership. They simply can’t afford it.

For millennials the American dream is dead. However, that’s not the case for millennials living in other countries. Their version of the American dream is alive and well. According to a recent study from HSBC, the situation is totally different in Mexico, where 46% of millennials own their own home, and China, where 70% of millennials own a home. In China, this is largely due to the fact that wages are growing faster than the cost of homeownership, unlike the United States.

And this seems to be the case across the English speaking world, where the situation is far worse than what we see in America. While US millennials have a homeownership rate of 35%; in Canada it is 34%, in the UK it is 31%, and in Australia it is 28%. There appears to be a few pockets of financial success for young adults in America, such as Minnesota, Iowa, and West Virginia, where the millennial homeownership rate is between 48% and 50%. The situation is at its most dire in Washington DC, where only 23.5% of millennials own a home.

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Contributed by Daniel Lang of The Daily Sheeple.

Daniel Lang is a researcher and staff writer for The Daily Sheeple – Wake The Flock Up!

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  • Simon says

    why deal with all those hassles and on top of that also leave my parents basement?…no thanks staying right here

    • You better hope that it is paid for or they have the resources to pay it off.

  • Pat Taylor ╚(ಠ_ಠ)=┐

    The nɥɐʞᴉɹǝɯ∀ Dream is, and has been a fraud especially since the 1933 bankruptcy — Property owners, are merely leasing property from the state in which they reside (property tax is the state lease fee on your land) the Real Estate that YOU believe you own, is the states property in perpetuity.

    • Unless you have an allodial title, of course.

      • Pat Taylor ╚(ಠ_ಠ)=┐

        Correct and true … but how many people do you believe even know WHAT an Allodial Freehold — Land Patent — IS?

        Most people go through life under the belief that they own something, when in fact, they do not, unless they have taken steps to acquire their allodial title —

        Paying off the public debt against the land and getting the county to cease taxing your land are two of the big challenges associated with attaining ones allodial freehold.

        A Patent of Land from the government is the highest evidence of title. It is evidence that all prerequisites have been compited with and cannot be questioned either in a court of law or equity, unless it be on the ground of fraud or mistake, CARTER vs. SPENCER, 5 MISS, (4 How) 42.56, 34 AM. DEC. 106. A Patent to the land is a judgement of the Land Department and a conveyance of the title in execution of it to the party adjudged entitled. And, when the land described was within the jurisdiction and subject to the disposition of the land department, it is impervious to collateral attack. WEFF vs. U.S. 165F.263, 277, 91C.C.A. 241. In other words you must have a Land Patent on any land that you buy. If you don’t have this Land Patent recorded in your name you really do not own the land. That is why if you have the land patented and have a homestead on it they cannot get the land away from you. The most important thing to do is have that land patented in your name when you buy the land.

        • Thanks for the information. I will look into acquiring it for my parents’ house.

          • Pat Taylor ╚(ಠ_ಠ)=┐

            This source is for the state of ɐᴉuɹoɟǝᴉɯɯ0ʞ: http://www.1215.org/lawnotes/lawnotes/landpatent/index.html … but it can’t hurt?

          • Thanks, Pat. I don’t know if it’s possible, but I will try.

          • Pat Taylor ╚(ಠ_ಠ)=┐

            You are welcome, it’s not an easy row, powerful dedication is required.

            Always remember, if it were easy, everyone would be doing it — the corrupted system depends on this fact —

          • Indeed it does. 🙂

        • jimmy joe

          Yea, ever heard of “eminent domain”, something in which the current regime boss is in strong favor of??

          • Pat Taylor ╚(ಠ_ಠ)=┐

            And yet,another form of government sanctioned and administered theft in ɥɐʞᴉɹǝɯ∀

          • And which is provided for in the Constitution.

        • I used to know a great many people who knew what an allodial title was when I was attending two meetings a week of what we called law clubs. Essentially they were assemblies of interested patriots who were looking for legal solutions to our problems. Both of them died out when the handful of people, like myself, who knew how to do legal research decided that it wasn’t worth helping the rest, who seldom even thanked us after writing down everything we had to say. The last hit was usually when the donation jar would come back without enough money to pay the rent on the space used.
          When I was doing driveaway several years ago, I encountered a truck salesman at a dealership in El Paso that had been (and was thinking about going back to) selling commercial real estate. He was the only real estate person I’ve ever known who knew anything about allodial titles, and he was of the opinion that Texas was the last state where one could get one.

          • Pat Taylor ╚(ಠ_ಠ)=┐

            My sister works for a large bank in L.A., she manages the commercial lending branch — she has no clue of an allodial title, she contests the validity of such a thing. I can only say to her, that the conditioning she has received as an employee of banks for a little over 50 years now, is that in the banks eye … An allodial title does not exist for sovereign citizens.

            Providing help to people in this field can be very thankless, most people go into this thing thinking that someone besides themselves, is going to work a miracle for them!
            Each man is responsible for his own freedom, and these people must be made to understand that they are FIGHTING for the personal freedom of taxation and theft of the very property they believe to be theirs.

            This government is a sham, freedom is a sham … and what’s worse, there are many unwitting accomplices to the sham perpetuity.

          • Managing lending isn’t lending anymore.
            “If a nation expects to be ignorant and free, in a state of civilization, it expects what never was and never will be.” Thomas Jefferson

    • Larry

      Yep and so few people understand this !!!

  • I have never had a dream to own a house that I not only have to pay for all of the maintenance of as well as the rent of property tax.

  • Gil G

    Soon China will be outsourcing their worst jobs to desperate Americans.

    • Pete Barnshaw

      Gil G – Ooo … I think you hit the nail on the head!

    • Why bother when they are the first jobs they will put robots onto?

  • ReverendDraco✓ᵛᵉʳᶦᶠᶦᵉᵈ ᵃᶜᶜᵒᵘᶰᵗ

    “It’s called the American Dream because you have to be asleep to believe it.” ~ George Carlin

    • We didn’t listen.

      • Clementine

        You are absolutely correct and most who are awake will agree with you… yet you wish to renounce your citizenship and move to a foreign country. I am confused on how you can speak this way, while showing opposite actions from your words?

        • The cost of relinquishing one’s American citizenship is reaching 5 figures because so many are doing it. I was born in New Mexico and I already am living in a country foreign to the Constitution.

      • Since the American dream is supposed to be home ownership and the vast majority of Americans were renters in the Great Depression, maybe it is time to reevaluate the dreaminess of unserviceable levels of debt. On the other hand, a good depression will bring the price of everything down for the very few who actually have cash or PMs when the seller is illiquid.

        • The Federal Reserve, IMF, and the Rothschild-owned central banks are behind this (((usury))). The problem is that upward mobility has become nonexistent due to (((progressive income taxes))), which means that Americans can’t save for down payments on cars or houses. Most bubbles in our economy’s history are attributed to the greater fool theory and predatory unregulated lending, which reinstituting Glass-Stegall and repealing Dodd-Frank would solve. This is why value investment is the way to go if you ever invest in a mutual fund, and why Buffett and Graham are the best investors of all time.

          • When Warren Buffett bails out of the market, you better be his shadow. Did you miss him doing that?

          • I did; when did he bail out?

          • He has been slowly withdrawing from his usual investments over then last several years, as reported in the financial papers. You wouldn’t have noticed in the MSM unless you watched very carefully. He’s become a bit of a gold bug over the last couple years. His investing style looks more and more like Doug Casey and Bill Bonner’s as time goes on.

          • The market is turning bearish, especially with the current political climate. Savvy investors could make a good profit if they watch market speculation.

          • Irrational exuberance will make many successful investors destitute if they miss the signals and get caught in the calls, like many who suicided did in 1929. I’m going to sit and wait for the eventual massive bull market in PMs and cash out enough and in time to enter the real estate market at the bottom.

          • Good plan.

  • stan

    When are we going to stop pretending that owning a home has any inherent benefit? It’s just a scam to get everyone in debt.

    • There are several benefits to owning a home, largely that you save money and it is considered to be an appreciating asset that can net passive income which can easily allow you to retire.

      That being said, it is much wiser to save up to buy a house entirely than pay a meager down payment and become a victim of compound interest.

      • How do you save money when you have to pay property tax on top of everything else that the landlord used to?

        • You buy the house (although duplexes and condos work as well) outright in a country that does not impose property taxes (and if you do, you rent it out to someone who will cover the property tax, netting you a steady passive income). Learn how to fix the house by watching YouTube and reading books whilst attending a community college or vocational school. This is how you become self-sufficient, and since real estate TENDS (not always, as shown by the artificial real estate collapse of 2007-2009) to appreciate with age, and most repairs are simply meant to replace old parts that have become dilapidated.

          • I’d rather wait for the opportunity to buy an entire block in Manhattan for an ounce of gold, as someone did at the bottom of the Great Depression. I’ll be looking for income property like hotels.

          • Exactly! You can become very wealthy in the upcoming wealth transfer if you invest in physical gold and silver. 🙂

          • As in any market, the key is to buy low and sell high. Since most “investors” have always done the opposite, they have always lost money. I’m waiting for gold and silver to go stratospheric and real estate to head for the Mariana trench, just as they did in the Great Depression.

          • Exactly. Ideally I would like to buy real estate in the wealthiest parts of the world, so that I can use it to generate hundreds of thousands of dollars in passive income and reach the 0.01%.

          • The best time to buy real estate anywhere is when it is worth pennies on the dollar of its original value. You can do that right now in Venezuela and Detroit.

          • Venezuela will be fixed. Detroit on the other hand…

    • If you’re foolish enough to get a loan and pay it off over the entire term, you’re an idiot. Otherwise, owing a home is not a debt, its an asset.

      • The vast majority of assets are debts in a debt-based economy like this one.

    • Pat Taylor ╚(ಠ_ಠ)=┐

      Commerce in ɥɐʞᴉɹǝɯ∀ is a scam.
      We have all been converted into willing, but ignorant. debt slaves.

      • Not all, but most.

        • Pat Taylor ╚(ಠ_ಠ)=┐

          Myself, I personally view everything related to the exchange of FRN’s, as being a scam being perpetrated against the unwitting public.
          The debasing of our dollar, has stolen many, many a people’s dreams.

          I laugh at the absurd concept of income taxation against such debased currency … To tax a dollar that is truly only worth about 0.30 is beyond fraudulent … the private bankers usury is the shackle around the neck of ɥɐʞᴉɹǝɯ∀

          • If you are saying 0.30 mils, that might be an underestimation, but not as big an overestimation that it is worth more than a nickel.

          • Pat Taylor ╚(ಠ_ಠ)=┐

            30 cents

          • The Federal Reserve Note’s purchasing power is less than a nickel of what it bought in 1913.

          • Pat Taylor ╚(ಠ_ಠ)=┐

            Between the dilution of the current day fiat currency and theft of our precious metal backed system, we are left with nothing but a shell.

          • Fortunately the shell is made of precious metal.

          • Pat Taylor ╚(ಠ_ಠ)=┐

            I question “who” owns the gold though?
            The international bankers stole the nations precious metal long ago, and I just can’t come to any belief that Ft. Knox even has a nickels worth of gold within it’s confines.

            Restoration of the precious metals backed U.S. Bank is necessary, debt could be canceled over night. Many international bankers would take drastic measures to thwart such an act of the slave attempting to break free of their hidden master’s chains.

          • It doesn’t matter who owns gold or silver that isn’t in one’s possession. There have been several military members who have been posted to Fort Knox that said that it is devoid of gold since they resigned. The problem is not the absence of gold or silver, it is the legality of fractional reserve banking, which was the major purpose for the creation of the Fed. The majority of any slave’s chains exist their own minds.

    • Naw, that’s why the automobile loans are the most commonly in non-performance at this point. The 2018 models are going to be very cheap with parking lots full of 2017s and other late models.

    • The Federal Reserve Note is an instrument of debt. If you use it, you are in debt.

  • Higher instances of home ownership and personal responsibility in countries where kids are still raised to be upwardly motivated rather than media and video game consuming adult babies living with their parents, pursuing degrees in Social Justice and complaining about how everything is unfair whenever they meet any challenge or difficulty? crazy talk.
    The American Dream is alive and well, the American Millennial is (by and large) an evolutionary dead end.

  • Roy Hobs

    The title smacks of racism. The Founding Fathers and the Patriots fought for the Chinese and the Mexicans too don’t you know!
    It is arrogant to assume the first white settlers to the North American continent only cared about their own racial family. They risked life and limb to built a civilization for Mexicans and the Chinese. In fact this was their first priority! To build a nation for the non-white races. Come on! It’s not rocket science. To suggest otherwise is racist.

    • Dr Truth

      Did you even read the article? It’s not talking about Mexican Americans or Chinese Americans…

    • Sounds more like fantasy to me.

  • tscull

    Yep, and the fools continue to support the socialist policies that created this economic stagnation in the first place!

  • Larry

    Why does it surprise anyone? The multiple shit-heads like George Bush, Bill Clinton and George W Bush all pushed the bullshit free trade crap until there are NO JOBS in America anymore. It was all stupid fucking bullshit that the massive numbers of kool-aide drinkers in fuck-wit America went for hook, line and sinker. Does anyone realize the governments own statistics??? The current US workforce is 251-million people in round numbers. Roughly 156-million are working. Do the math… that leaves 95-million people of working age and not disabled with no employment of any kind… and yet mongrel wet-backs continue to live here illegally and work illegally under the table. I am all for Trump and his reforms but I still think we should be fomenting blood in the streets anarchy. Our nation has been robbed right out from under us. And even in the shit-hole of Mexico millennials fare better than here in the USA and yet only recently have we been able to stem the tide of these fucking mongrels coming into the US to mooch and rob our welfare system. Indeed, thank you to god-damn mother fucking libturds, the failed education system they have fostered and everything else liberal !!!

    • A liberal is a conservative that believes in state ownership of the means of production.

    • We could do a whole lot worse than to bring our military home and put them on the border instead of wasting time, money, and effort building a wall that would have been finished if Congress didn’t defund it the first time.

  • What do you do with the surplus of homes that no one wants?

  • archer

    Depending on where you live, the smart choice might be to rent a house instead of buying. I have a friend whose son does very well as a plastic engineer, he lived in Ca. for about 7 years, but leased a house because of the market, he recently moved to Ct. where he bought.