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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]

There have ALWAYS been hurdles.  Even after the Great Depression.

I did buy in 1999 as well  - I was a single mom making about $30K a year.  I bought a 2 BR 1.5 bath condo for $100K,  It wasn't fancy - but it was in a decent neighborhood and I got in with 3% down (FHA).  There are STILL low downpayment options being offered by FHA, VA and USDA at fairly low interest rates.  I also knew I couldn't afford a single family home on my income.  I was able to buy one later when my income increased - I also paid extra on my mortgage to lower the principal, thus building additional equity.  I also chose not to run up credit card debt or live beyond my means.  I have friends that did (and still do).  I don't judge them - it is just different choices you make.  YOU choose to take on student loans (did you go to a cc then transfer to a state school?  that is one way to do college affordably).  My daughter is doing that so she doesn't incur debt (we have had long conversations about how crippling debt can be to get out from).  There are condos available in the suburbs for reasonable prices.  In the old days, they were called 'starter homes'.  Not everyone buys a $500,000 house as their first home.[/quote]

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