I feel you, Drew.
My oldest is married and moved out (I warned him he was too young at 22, but it’s his life and he’s grinding away).
My younger two will stay with my husband and I probably until their 30s.
I would rather my children stay home and sock the money away or invest it than make a landlord rich. Keep the funds in the family, for their future home purchase.
When my husband and I purchased our first home, our mortgage and utilities was less than 25% of our net pay.
Now, a couple coming in with 5% down on a $300K mortgage is looking at over $4K a month. You need two six figure incomes to equal the ratio.
It’s insane.
Everything is ridiculously expensive. I’ve already buckled down just about as much as I can.
“Now, a couple coming in with 5% down on a $300K mortgage is looking at over $4K a month.”
More like $2,500 at 7.5% interest.
Rent on an apartment is that high. Buying is the better choice.