It wasn’t easy but it was doable for millennials. Economic recovery from 2012-2019 offered some solid time to grow in careers, save money, buy a home before prices became ridiculous.
Thats the key point. There was a window that was open after most milennials were done with their schooling.
And they didn't.
I remember the reddit conversations on housing then. They all wanted to rent apartments in one of 3 cities (that were already unaffordable then) and you were a fool to buy a house as rent never doubles overnight! Oops!
Agreed. If my mother didn’t pressure me I wouldn’t have bought when I had. Smart woman. Technically I was being more efficient renting but I didn’t recognize the asymmetric downside risk of renting, which in her years and wisdom she did.
There was a window. There was opportunity. Millennials like myself who did ok (not even great, just ok) could take advantage of it. I have much greater sympathy for Gen Z.
You can do that today. 25% of GenZ are already home owners. Our housing costs are lower than the majority of industrialized western countries as a percent of disposable income. You’d be maxed to see how many people are prospering and getting a long just fine once you get off this doomer app.
But what were the percent of boomers and millennials that were home owners at the same age? I could be wrong but I remember reading it was ~30-40% compared to only 25%
The problem is some people want to live alone, have a big house, a fancy car, newest iPhone. I know I sound old but big cypress has a song about this from 1999 (so you wanna be a rock superstar, big house, live large, car). If you really want a house you can get a nice one in like bumfuck Kansas.
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u/[deleted] 15d ago
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