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hoosnowahokie
Joined: 09/05/2005
Posts: 33,279
Likes: 11,288
hoosnowahokie

Yes, generally the sacrifice is not owning a home

And with interest rates rising, many won't own one until their 30s.

There are individual solutions, but older generations need to realize we have different challenges and can't do it the way they did. That American Dream (Married, 1 income, 2 kids, nice home in neighborhood) is not attainable for the vast majority of under 30 anymore. And just saying "Well, make sacrifices and get it to work" doesn't really help anyone.

FTR, I have accomplished this, and I am one of a VERY few of my peers that has. Most of my kids friends parents are 4+ years older than my wife and I. I still have classmates just getting married or having their first kid or buying their first house now. (I'm 35 btw)
[Post edited by hoosnowahokie at 04/15/2022 12:02PM]
Posted: 04/15/2022 at 12:00 PM ET
(In response to this post by RTFC)

Thread Replies (26)

Full Thread →
Mortgage rates 5 percent..the world is ending
capitals1 • 04/15/22 08:49 AM ET
In the 80's we refinanced to get DOWN to 18%**
Galenahokie • 04/16/22 08:37 AM ET
I bought my
VTUD • 04/15/22 07:41 PM ET
We need interest rates on savings to keep pace**
WestyHokie • 04/15/22 01:01 PM ET
And raises**
B777Fr8Dog • 04/15/22 05:11 PM ET
It's going to get worse before it gets better.
HokieJay • 04/15/22 12:08 PM ET
You realize that for those under the age of 35, the cost of a home is like
HokieHigh • 04/15/22 10:25 AM ET
I'm not but I should extend empathy here...
HokieJay • 04/15/22 01:09 PM ET
Some of us want to live near friends and family and unfortunately they live
HokieHigh • 04/15/22 01:47 PM ET
In that case rent for now.
HokieJay • 04/15/22 02:48 PM ET
So what? Income is 500% higher too. Stop whining.**
HokieJay • 04/15/22 12:36 PM ET
Lol, that's not even remotely true**
hoosnowahokie • 04/15/22 01:39 PM ET
Is it? You must be a CEO. **
HokieHigh • 04/15/22 12:47 PM ET
Yeah, unreal how low they've been for a decade
Vienna_Hokie • 04/15/22 09:52 AM ET
My first house in 1985 in CLT was 11.75%. Everyone marveled we got one
PhotoHokieNC • 04/15/22 09:40 AM ET
Not ending, but unless you are going into Computer Science
hoosnowahokie • 04/15/22 09:25 AM ET
Not saying that's not true
RTFC • 04/15/22 09:49 AM ET
I don't know if that is much of a factor. If so, you'd expect a surplus of
jmanatVT • 04/15/22 10:08 AM ET
Those are getting torn down and new nicer/fancier homes/apartments go up
RTFC • 04/15/22 10:19 AM ET
It's hard to make a case against or defend a mythical complainer :-). I do
jmanatVT • 04/15/22 10:33 AM ET
Part of that is no one builds a 1 story
hoosnowahokie • 04/15/22 10:05 AM ET
"Just too far away" - make a sacrifice for what you want more
RTFC • 04/15/22 10:13 AM ET
Yes, generally the sacrifice is not owning a home ◄
hoosnowahokie • 04/15/22 12:00 PM ET
Yep you need a FAANG job**
HokieForever • 04/15/22 09:27 AM ET
Home Ownership is overrated**
darnellm • 04/15/22 09:07 AM ET
8% on my first house in ‘92. Thought that was a good deal then.**
B777Fr8Dog • 04/15/22 08:50 AM ET
I was happy to assume the previous owner’s 9 1/2% mortg in 89 for my house.**
Hoakie82 • 04/15/22 04:57 PM ET