With the price of rent sky-rocketing, most people aren’t going to be able to rent a home either. Just a small apartment living on top of another small apartment. You will own nothing and you WILL NOT be happy.
If the economy continues on it’s current path, you will soon see families combining into one household. Not just single older adults moving in with their parents, but entire extended families having to share a home. Then, they will just have to hope they can manage to maintain and pay the taxes on THAT one residence. Homelessness is about to rise and it is not going to be due to drug-addled dead-beats.
Until housing market crashes, which it will. Keep your powder dry.