House Hacking a Wave of the Next Generations??

[Anthony Swain]

Hey gang! 

 I wanted to share an interesting article. 

In short, the article states, Gen Z & Millennials are using house hacking (HH) with rising prices and current interest rates to begin home ownership. More than half of the surveyed Gen-Zers and Millennials agreed HH as positive. 

The article, mentions a household would need at least $114k to afford a median priced home ($420,000 as of writing). I think HH provides these new home buyers the opportunity to purchase a home with some financial flexibility being able to rent out portions for extra income. 

I think Gen Z & Millennials are more keen on a nomadic lifestyle too. A lifestyle that they can travel frequently and for longer. A solid HH gives them that flexibility to maintain that lifestyle. I've met several Millennials, like myself, that rent out portions of their home and their entire home while they go away on multiple week travel excursions to offset most or all of their mortgage. 

How do you all feel? Do you think this is a wave of the future or just a trendy strategy for now?

I think it is here to stay for my generation and future generations. As a house hacker myself, I am doing it at my wife and I's current duplex and will continue to do it for at least our first few properties. 

[Mike Dymski]

People over 40 consider having roommates when starting out in life to be normal.  People under 40 call it house hacking and consider it "new".