Reply to Genz and millennials don't want your small starter homes want forever homes now

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Three starter homes for sale in Rockville for $499,000 near metro. There are starter homes. Just not in Georgetown or McLean

https://www.redfin.com/MD/Rockville/1221-Highwood-Rd-20851/home/10512952 [/quote]

$4040 a month in PITI means you need to be making almost $170k for it to be affordable. That's not a starter home income.[/quote]

$170k is not that crazy for a married couple a few years out of college. That’s $85k each. That’s when we bought our first townhome - 25. [/quote]

It's not crazy but it's also not at all the norm. Most white collar jobs fresh out of college start a lot closer to $40k than $85K. The fact that you have to put all of these caveats on a starter home simply proves my point. "Of course there are affordable starter homes, as long as you went to college AND got a higher-than-average paying job AND you have a long-term partner AND they also went to college AND they also work a higher-than-average paying job."

If a "starter home" is only affordable to the luckiest fraction of the population it's not exactly a starter home, is it? [/quote]

I think also the higher paying employers are not hiring many kids straight out of college. They all want somebody else to get them trained up to be productive. I got my "entry-level" job paying $40k at age 28. Yes I am 40 yo now and making over $150k now, and that makes me very privileged, especially with a similar earning spouse. But until age 35, it was very difficult to build up the $100k+ downpayment. Even when we bought it was with a $50k gift from my parents.[/quote]

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