Posted on 06/05/2023 9:51:47 AM PDT by millenial4freedom
Connor Hughes and his wife Brieanne both grew up outside Philadelphia. They met working at an ice cream shop in high school and stayed together during college despite going to different schools. Hughes says they’ve both been fortunate enough to find decent-paying jobs, and they’ve been smart with their money, knowing in the back of their minds that they wanted to buy a house one day, with more than $100,000 saved. They’ve even got a baby on the way. There’s just one problem: They’re losing hope of finding anything affordable in south Jersey and ever moving out of their two-bedroom rental in the suburbs of Princeton, New Jersey.
(Excerpt) Read more at finance.yahoo.com ...
My parents bought their first home in Camden County the year they had their baby on the way (me), 1954. It costs $10,000. According to Zillow, it is now estimated to be $226,500, 3/1 on a fairly nice lot in a good neighborhood. You couldn’t pay me to move back there, but there have to be similar houses in the area, maybe $300K with a second bathroom.
I agree.
When those 2 year adjustable mortgages hit some people are going to freak out
“”Young people today, have a much more difficult time of affording the American dream of homeownership than previous generations did.””
Difficult for previous generations? What are you talking about? In the 60’s-70’s, you could buy a house for $12,000-$20,000 and many of us did. We paid $13,000 for our first house in Sacramento in the Land Park area. Hard to beat that area. House payment of $100.00 and if one couldn’t make that, they had to forego buying!!
Grew up in Carmel/Monterey bay, I couldn’t afford a home I moved, that’s what you do
Especially because they don’t want to get a basic house, then work hard and save (sacrifice, the dirty word) and then move to a better location and better house. They want it all now.
Please ignore my #23 post - I was looking at the problem and your statement backward...of course, with prices of today, it’s more difficult. I was thinking more of the ‘60’s and ‘70’s and stepping out to buy a house took a lot of guts...even the prices I cited seemed horrendous! Scared most of us....
I think I’ll skip posting for the rest of the day....
“That’s why we voted for AOC. We think her brand of Socialism is just the fix this country needs.”
If you can’t find a house for $600K, you’re looking in the wrong place. Although they’re outrageously expensive everywhere now days.
Stop voting DEMOCRAT. Tell your friends and family stop voting DEMOCRAT. Don’t vote for squishy establishment Republicans.
Vote for limited government CONSERVATIVES.
Well kids, it’s going to be even harder as time goes on. You have millions of illegals to feed, house and provide medical care for so don’t go spending that money cuz Uncle Sam needs it.
First World Problems.
You are probably right, but the timing of life events can generate an understandable desire to purchase a home, regardless of investment judgment. Your family doesn’t live in your stocks.
Anywhere south of Folkston......................
Because they can’t buy a house with an income of 600,000.
Excellent context.
Our first home had wheels under it and was in a mobile home park. Sometimes you don’t get the Mansion right away. But don’t try to tell that to today’s kids. They’ve been told they can have everything they want since birth. Not even government will say no to them
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