re: interest rates on home mortgages wont fall anytime soon

quote:

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Gen X dealt with these types of rates as a norm in the 90's and 00's, including after 9/11. We survived.

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Not at these prices, though.

And you were able to use appreciation from your starter house to parlay that into house upgrades over time.

Current generation on the lower end of the income spectrum is pretty much F’d out of ever owning a home or being house poor. Even renovating a fixer upper is harder because 1) there’s a huge market for investors in these and 2) labor for trades to fix is also sky high

Need sizable down payment, interest eats up a lot of income, and the house won’t appreciate enough any time soon to be meaningful. Sucky situation all around.

Note this doesn’t apply to me, but I see how there can be contempt/apathy here for younger and future homeowners