Reply to $200K and just getting by

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Reply to "$200K and just getting by"

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[quote=Anonymous][quote=Anonymous]But you didn't have to have 20% back then and you weren't saddled with exorbitant student loan debt. Mortgages were spec and no DP and college was reasonable. You were entering the work force and adulthood in an economic boom. WE entered in the worst financial climate since the Great Depression. Not saying you guys didn't work but you did NOT have the hurdles back then that we do now. [/quote]

Yes, it is a tough economy for new grads but don't think we were living in some utopia in the 90s.  I know we're very, very lucky to have a house my DH bought in 1996 but that house came with an 7.5% interest rate!  (eventually refinanced) And, that was with a significant down payment, borrowed from his 401k.  Which he saved by living in a group house for 5 years and saving as much as possible.  I graduated college in 1992 into a bad job market coming out of the early 90s recession.  I lived with my parents for a couple years because my first job paid very little.

I guess Baby Boomers lucked out, graduating college into a good economy but then a lot of them also had to worry about getting sent to Vietnam so there's that.  Every generation has their own challenges.[/quote]

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