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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I think one way to make home-ownership feasible is to really hustle and save even starting in your teens and 20's.

My hair stylist (now in her 40's) bought a condo at age 18 with her own money that she had saved from waitressing and working in hair salons.  She literally saved every penny.

She came from a very poor immigrant family.  (Her mom was a house-cleaner, and her dad had a disability.)

So I still think it can be done.  She worked so hard in her teens, but it paid off!  She's been able to trade up and now lives in a beautiful townhouse in a desirable neighborhood in Moco.[/quote]

Good for her, but you understand that the whole point of this thread is that a hairstylist today could not afford that condo, right? Have you not followed the news? Whatever someone could afford in 2020, they can now afford about half of that in 2022. There’s been a completely unprecedented spike in housings costs that no one could have predicted or planned for.[/quote]

Actually, no. We bought our home in 2005 for about 530k. 18 years later it’s worth about 680k. That’s not an extraordinary major increase. There are still houses near us for $530k. 
It is amazing that this point continues to be lost. This same debate happens around college costs. I think people fundamentally cannot understand how much costs for certain things have gone up drastically (health care, housing, education) while for others have gone done (lots of consumer goods). It seems that some people respond by assuming that what you could get must be available to to others through SOME program or way of life, and that anyone who says otherwise is a complainer and lazy or stupid.[/quote][/quote]

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