re: Salary of $115,627 needed in order to qualify for a mortgage on a typical American home

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Honestly not sure how people are supposed to get ahead.

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I think that’s what’s scary to so many people on the outside looking in - is that not getting ahead is the new normal.

I have been a homeowner since 2009. I “lucked up” and was in the market for my first house right after the 08’ bubble popped and there were tons of incentives to instill buyer confidence and re-stimulate the market. So my wife and I got a modest house in a decent area for a price we could afford and a rate we could afford.

We owned the house for nearly 10 years and put a decent amount of money into it - and when we sold it as our family outgrew it - we basically got back all that we put into the house in equity.

Again, I feel like we were extremely lucky because we got into a larger house before COVID blew everything up.

So now we are in a larger house in a decent area with a decent price and a rate we can afford.

When I see what future homebuyers are facing - it makes me feel very fortunate how we didn’t or haven’t had to face that challenge and it also makes me sad because I know how important homeownership is to building wealth for the middle class.

I don’t make a ton of money but I try to live within my means. I worry for my kids and what they will face when he hits the real world.