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Post Housing Economy Crash – Rise of Condominiums

As the United States of America was the place that generated the housing bubble and eventually caused the bubble to burst a few decades later to cause one of the biggest market crashes in recent history, the people living over there are the ones affected the most. A lot of young people especially are now affected as they have little to no hope of finding stable housing in the American economy without going in to severe debt. For young people, taking out more loans or increasing debt is usually not an option as most will struggle to find a job that helps them pay off their student loans, and the absurdly high interest rate charged to it. So the dream of owning a house a bit before you hit thirty is kind of gone now.

Younger people are still wildly affected by the marketing industry and how it tells you to live in a house or you are a failure, but they are slowly moving past that sort of mindset. Nowadays, young people are a lot more likely to live in a condominium than in a house or an apartment, in the long run. The reasoning behind this is simple. You can get a lot of living space in your condominium, the same sizes as a house even, but only pay around half or a third of the price of a house of a similar size. Apartments on the other hand do not help them build equity, so they are great for starting out, but become useless later on. A lot of people have caught on to this and are using it to build condos for sale San Diego side to attract a younger population to their living spaces and fill it up.