Quote:
Originally Posted by DaFace
Eh, depends on where you live I guess. The median home price in Denver these days is about $600k. I can't imagine having to save up $150k just for a down payment. I'm fortunate to have been able to buy right before the climb began.
I paid just over $200k for our place in 2009. These days, that'll barely buy you a full strip it to the studs remodel project in a shitty neighborhood.
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Younger generation just has to adjust. Something like a 5 year savings plan and expect the market to lower a bit and interest rates get better. They'll learn to live frugally for a bit and appreciate what they accomplish. During the 5 year plan they can work on their credit, learn to budget, and study the market. Sure it's a harder road but at least they have a path. Got to get creative like living with parents or have roommates etc.
It's not as easy as 2009 but there can be a way.