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Reply to "It's OK for college grads to move back home for a while."
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[quote=Anonymous][quote=Anonymous]I remember my rent in DC after graduation was $600 a month and I had no loans. I was able to easily pay for grad school at night while working full time without amassing debt. Fast forward now and rents for a 1 bedroom are $2,000-$3,000 a month, tuition has skyrocketed and while salaries have risen a little they are nowhere near enough to cover the increase in rent and tuition. Back then living at home would have been failure to launch but now it’s totally different.[/quote] Even back then it was not failure to launch. Saving 3-4K per year and using it for retirement savings or a down payment was huge. We put $20k down as 10% on our first home, 2k sq ft 4 bed, 2.5 bath. Could have done it much faster without rent/utilities/etc [/quote]
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