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I'm going to buy a House!
(file.coffee)
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(It is entirely possible to buy a house in your twenties)
The point isn't that it's impossible.
The point is they act like it's just as easy as it was when they were in their twenties.
Back when you could comfortably support a family with one job working 40hrs/week. Any job.
I didn't have issues. Saved for about a year, nothing crazy, and asked for a loan. Now I own a nice two-story house about a 15 minute walk from the city center. I don't really get this "buying a home is impossible" -meme, I believed that too before I actually tried and was surprised how easy it was.
When was that? Where?
The house I bought in my 20s (for $275k, inflation adjusted) is now worth $475k.
The house I bought in my 30s ($480k, inflation adjusted) is now worth $800k
In my area at least, home prices are far outpacing inflation. I literally couldn't afford to buy the house I'm in today at its current value.
Don’t forget, mortgage rates (at least in the US) are still the highest they’ve been since 9/11/2001.
That makes it even harder to buy the now more expensive house.
A couple years back during covid, in Finland. House prices here have been creeping up as well but not as aggressively as where you have lived. I doubt that's the case in all of the US, there must be places with more modest prices. I "downgraded" to a smaller city when I went from renter to owner, couldn't have bought a home to my liking in Helsinki due to the prices.
Well there's the issue. Finland isn't experiencing anywhere near the level of housing cost inflation of the US, Canada, and Australia.
And cheaper areas in these countries are cheaper for very good reasons (they suck to live in/have no jobs available).
They have Social Services too if I'm not mistaken.
Sure. If you live in Cuntass, next to a half dead tree and 500 million mosquitoes
So when you said it's possible to buy a house in your 20s you meant in Finland. Then you make a wild assumption about the US to try to justify what you said? Wut? Dude you are misrepresenting the situation left and right.
Sure there are places houses aren't insanely expensive, but they are generally many hundreds of miles away from where there are jobs available that may pay enough to purchase said house.
Having lived in Europe it amazes me how many Europeans believe that because it's still in the country, it's not all that far. But if you compare directly a few hundred miles is usually in another country in Europe, where in the USA it's more often still in the same state.
I bought my first house back in 2009.
My monthly mortgage payments have been flat for 15 years now. I pay less than 1/4 per month that someone buying my house today would.
Even though we make 2X what we did back when we purchased the first house (graduate degrees), we would still struggle to make the payments on our current place if I had to pay the market price today.
It's not a meme, it's the harsh reality for many in the West. Not just the US.
And you're what's called an outlier.
I applied for a loan. I was told I don't have a high enough credit score by the bank. So now I'm paying rent instead of a mortgage.
Imma be honest, I'm not from the US so I have only a superficial knowledge of what a credit score is, but I'd reckon that's something you can affect, no?
Then why tf are you commenting at all???
That's like jumping into a support group and being like "damn that sucks have you tried not having that happen to you?"
If it doesn't apply to you why tf are you even here?
Affect, sure. In the same way that one can affect having rich parents who support you, thus making it easy to be rich yourself.
Being poor is fucking expensive, and the credit score system is a big part of that.
The credit score system is the yoke upon which the millennial/zennial generation has been shackled while Gen X and Boomers ride the wagon of home ownership and comfortable living due to not having to deal with that bullshit in the 70's, 80's, and 90's.
I was born in 1971. I can't speak for all of Gen X, but my experience growing up in the 80s is that I was presented with "everything's fine, you just need to get a job and it'll all work out." So that's what I did, and got nowhere fast. Married too early to the wrong person because pooling our resources seemed to be the only way out, then still struggled to get anywhere. Everything pointed to "I guess we're just not trying hard enough." Follow this with depression, divorce, working multiple jobs at a time to keep a roof over my head...
I think plenty of Gen X were just on the the earlier edge of the wave that became what it is today.
I didn't have issues so why would anyone have issues? Isn't everyone's life, opportunities, and circumstances just like mine? Jesus dude, really?
It's also important that you can start off wealthy in the sense that:
your parents have lots of money they give you or
you can start off wealthy because the generation before you worked hard and set their children up with an economy that can let them succeed.
If the generation before you are a bunch of ladder-pulling-bastards, you don't have a chance.
Possible and feasible are two different things. It's possible for everyone in America to buy a house, there is no law against it, but it's not feasible for everyone to. This concept of "you just need to work harder and you can" is the brain dead, privileged AF fallacy this is calling out.
Just need a small loan from your father for a million dollars, right?
Do the math - Median house price, median wage of a 20-something, median cost of living.
How would an average 20-something achieve this without assistance?
It's not impossible, but do you think that's what we should be shooting for as the leaders of the developed world - you win with intergenerational wealth or a snowball's chance in hell? Have a little more pride in your country and be less cucked by the interests of those that have ransacked the economy.
I bought a shitty house in shitty Toledo for $48k with zero down and a $13/hr job in 2007. I was roughly 22 at the time.
This is probably not possible today.
It is definitely possible you just have to break in to a high-paying career and dedicate your entire life to working