When I bought my first house, back in the day, I packed lunch every day, made all my own dinners, gave up going out, even for beers, sacrificed on just about all purchases, barely made the mortgage payment. Oh, and fixed my own late model cars. That was when I was in my late 20's. Kids today would blow their ability to make the payment in a week of door dash lunches and their must have new cars.
>>>When I bought my first house, back in the day, I packed lunch every day, made all my own dinners, gave up going out, even for beers, sacrificed on just about all purchases, barely made the mortgage payment. Oh, and fixed my own late model cars. That was when I was in my late 20’s. Kids today would blow their ability to make the payment in a week of door dash lunches and their must have new cars.<<<
Your life experience is not advice for the 25-35 year old demo looking to buy a first house and start a family. I’m not saying if they did what you did it wouldn’t be beneficial. I’m saying they can do everything you did and still not have money to afford a home. Simply look at the average income vs. the average housing prices for markets where most Americans live. This is why things are broken.
You need TWO INCOMES now to buy a house for a large number of young adults. That is incredibly sad. If a wife can’t afford to quit her job, who will raise the next generation? Answer: Daycare.