Reply to Anyone else who will likely never be a home owner?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We didn't buy our first home until we were in the mid-thirties, but took quite a few years of saving $$$ to get there. This was about 10 years ago. Since then, we've been able to buy four additional homes as investment properties. The trick? As our income grew over 10 years, we kept our spending habits more or less the same as 10 years ago, so we've had 6x growth in saving over the year. Takes strong discipline, being handy helps (fixing things in the house ourselves and doing most of car maintenance self also.....w/both cars being 15+ yrs old)

You can do it, discipline and trading off current consumption for future consumption.

Best of luck![/quote]

Your trick? Buying at the bottom of a crash and then hoarding properties. You’re not that smart. My worst financial decision was being born too late to do what you did. Those of us who are born later and did the right thing and worked hard to save for a down payment are getting screwed because the cost of housing has artificially increased over the last two years far faster than we can save. It is utterly unprecedented and you are in no position to give advice.[/quote]

Amen.[/quote]

No. Your generation had access to the lowest interest rates in history. You couldn’t afford bc you wanted to enter the property ladder without compromise. Buy further out, buy smaller, buy a condo, buy in a lower cost of living area, build equity, enjoy appreciation, sell and enjoy a tax free profit and climb the ladder.  I’ll never forget my first real estate agent. She bought in Capitol Hill 40 years ago. She said no one would even come to their house. Now she owns a boss home in a prime location. But it did not come easy. [/quote]

How would I have afforded to buy a property while in school and making no income? What about people who graduated in say 2019 and needed to work a few years to save up for a down payment? You don’t make any sense. The cost of housing right now in every corner of America is vastly less affordable than it was just a year ago. Not everyone was in a position to buy last year or before that, and even if they could it was very hard to “win” a bidding war. [/quote]

We're supposed to cry because 24 year olds can't buy right now? There's been a 2-year blip of homes being either overly priced, high interest rates, or both. Just ride it out and you'll be in a great position to buy in 6-18 months.[/quote]

This - if you truly graduated in 219 why are you complaining? I bought a condo in my late 20s and yes, I got lucky with the appreciation and that is what started me on the property ladder. But yeah, I had to save and get on the right track for 6ish years after graduating to do that.

Now, if you’re actually in your early 30s or something complaining, that’s on you. [/quote]

This is basically the Republican mindset in a nutshell: if you are struggling financially, it is because you are loser or stupid, or both. That makes it easy not to care.[/quote]

I never even implied that anyone who doesn’t own a home is a loser or stupid. I responded to a post talking about someone who graduated from college a few years ago and is complaining they can’t break into the market. Neither could I at that age! But for people who are a bit older and lamenting the market over the last few years, it could be a different story. I do hear a lot of excuses and refusal to compromise from friends who still rent. They want everything just the way they want it if they’re going to buy and at some point you just have to do it if you ever want to realize any gains. [/quote]

You wrote, "if you’re actually in your early 30s or something complaining, that’s on you." Sure, maybe the people are too demanding. But you have no way of knowing that. Just easier to sweep aside the complaints that recognize that there might be things that have benefited you making it harder for someone else. That is the core of the Republican outlook. [/quote]

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