“U.S. homes sold in Dec. 2023 went for a median price of $402,045, according to Redfin. For simplicity’s sake, let’s say you buy a $400,000 home”
When you start with a bad premise, the rest of your argument is flawed. For your first house, you don’t buy one for the median price; you buy a cheap house that might not have a three-car garage, bathrooms for each bedroom, and 3,000 square feet.
Good luck finding a cheap house around my area… my son and wife live in a small fixer upper we purchased in not the greatest neighborhood for nearly $250k. Now fixer uppers around us are going for $400k and up. We can look further out but then you’re looking at an hour commute each way.
My younger son and his friends are struggling to find an affordable apartment too