The rule of thumb was that the house you could afford was double your annual income and the car would be half that.
Anything higher than that in cost was too expensive to finance.
It's not the boomers that caused interest rates and housing shortages. Look at government interference, illegal immigration causing a housing shortage, , Black Rock and it's ilk buying up property and renting it and taking houses off the market.
The democrats have been trying to destroy this country for decades and they've been successful in racial divide and pitting one race against another.
They are also stirring up animosity between generations through jealousy.
Don't buy it. Nobody is owed anything. Work for what you want and quit whining about things beyond your control.
I blame that on HGTV. Everyone now has to have a perfect house. With three to four bedrooms. At least three bathrooms. God forbid you might have to share one.
Those kitchens and bathrooms better have granite or quartz countertops too and SS appliances.
Then we need to have a two or three car garage to park our cars in.
This is one of the reasons why houses are so expensive today.
Also, why first time home buyers can not afford them.
Most first time home buyers bought a fixer upper back in the 1960s, 70s, 80s or even 90s. Now, a lot of young people expect all the best stuff in their first home.
I agree with all of this and suggested sealing the border, deporting tens of millions of illegals, radically slashing H1bs, even cutting back on legal immigration and getting Blackrock and Vanguard and the big banks out of the residential real estate market.
Also, slashing costly regulations and tariffs to bring back manufacturing.
Its not the Boomer’s fault per se, but I do understand why younger folks are pissed. Education and houses are way more expensive in real terms than they used to be. Houses are currently more unaffordable than they have ever been in history. These are the result of choices politicians have made. We could make different choices and undo much of the damage that’s been done.
“They are also stirring up animosity between generations through jealousy.”
The younger generations being jealous of the older ones because their popular culture is inferior? I can’t imagine that big-name older boomer artists like Todd Rundgren, Stevie Wonder, Steve Winwood, Donald Fagen-Walter Becker could be jealous of anyone in the music business except for how much money they got paid and how much effort it took them to make even that much. However, being of advanced age today, and if they were somewhat smart with their money, they probably know they can afford to not be jealous at all.