Reply to It’s extremely hard to raise kids in a nice neighborhood without generational wealth

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The idea that you buy a house in your early 20s...we are Boomers and bought our first $150,000 house in the mid 80s at 35. Interest rates were high and we finally had a down payment.   DH was an academic and I was a GS-11.[/quote]

I think social media has mislead younger people as to what housing was like before they were born, and what was a middle class lifestyle pre 2000.

Most people in their 20s had to have roommates, and lived in small apartments, or at home at their parents house.

Newly married professionals lived in small, modest apartments, until they saved enough to upgrade to a simple modest older house or a townhouse.

We were 2 career professionals in the mid 90s, newly married, and lived in a tiny 2 bedroom apartment for several years, as did all out young professional friends.  Nicer houses were not purchased until our mid 30s, after saving for years.[/quote]
In 1989 the median age of a home buyer was 31 and now it’s 56. The median first time home buyer is now 40.[/quote]

Some of that shift is due to the population pyramid being far different than it was in 1989. Not all obviously, but a good portion. Our average age in this country is something like six years older. Which is a crazy incrase in such a short time. There aren't nearly as many young people relative to old as there used to be.[/quote]

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