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Owning a home is a huge expense and you increasingly need a VERY good job in order to get one. However, with the way employers and business' keep trying to screw over and pay as little as possible it's difficult just getting a decent apartment and paying all the other bills.
Do you think home ownership for young people today and in the future is just a pipe dream for most?
Employers trying to screw people over and pay as little as possible?
They've never paid more! Liveable wage starter jobs flipping burgers... with health insurance!
No... I think home ownership is thriving. There are places where it is easier or more achievable... and careers that make it much easier... But I think if people put down the pipe... they can find a place to own a home and live the American Dream still.
Do you think home ownership will still be viable for younger people today and in the future?
I think that's mostly about how many other younger people they have to compete with
which is about the same situation they're in regarding the jobs they'll need too.
I don’t believe it’s a pipe dream, but depending on their individual circumstance, such as living in a market where starter homes are scarce or being saddled with a lot of student loan debt, it may take a lot longer for the dream to happen.
While student loan debt and stagnating wages (in relation to both inflation and production) have made saving up the traditional/best 20% impossible for a lot of people, there are a lot of programs for first-time buyers that require anywhere from 0-3% down for those with good or excellent credit. Where I live, saving more than that without falling behind on rent *is* a pipe dream, but specialized lenders are helping young people (especially) get into houses. I worry about those who get in over their heads in regards to repairs and upgrades for poorly-maintained homes, but I hope this aspect of the American Dream isn’t going to fall out of reach entirely.
Owning a home is a huge expense and you increasingly need a VERY good job in order to get one. However, with the way employers and business' keep trying to screw over and pay as little as possible it's difficult just getting a decent apartment and paying all the other bills.
Do you think home ownership for young people today and in the future is just a pipe dream for most?
As long as you get settled into renting for a while and develop good credit and good money management skills and you don't need a fancy updated home it's still possible in many areas. It seems now with high college debt that it's true that with each generation it is getting harder to afford a home.
As long as you get settled into renting for a while and develop good credit and good money management skills and you don't need a fancy updated home it's still possible in many areas. It seems now with high college debt that it's true that with each generation it is getting harder to afford a home.
So don’t accumulate college debt; there are many ways to avoid easy loan money.
Not where I live, unless they're pretty wealthy or have a good chunk of change to put down.
I bought a tiny apartment right before the prices surged again. I can't even afford the two bedroom if I wanted to throw a kid into the mix at this point. Forget an actual house!
The more I save to "put down" the further that end point moves. I hope things line up and I can move in the future.
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