This is always an amazing argument. There is certainly an argument that people need to be responsible with their money and aren’t owed anything.
But it doesn’t take a genius to recognize the housing market sucks and I for one am worried about my kids ability to afford the same life I have.

We bought out forever home for 345k in Greenville sc in 2016. Same exact floor plan in same neighborhood sold for 440ish in 2019. Now it sold for 630ish last month

My brother in law bought a starter home in 2020 right against a railroad track for 120k and just sold it for 260

We live 35-40 mins from downtown Greenville, which is a really nice area but traditionally has a low cost of living and certainly isnt somewhere that a run of the mill 4000 sq foot house should be commanding 6-800k like it is at the moment.
Same houses, same materials, nearly double pricing in 4 years with a much higher interest rate.

It sucks. We can acknowledge that while also acknowledging that people aren’t owed everything in life and have to make sacrifices

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Posted by jizzle6609

Houston

Member since Jul 2009

19963 posts

Posted on 7/28/24 at 8:10 am to latech15

quote:
latech15

Family should be the main reason people are saving/investing. I’m 100% with you and if I had those means I would certainly do it. Everyone will look at this as a spoiled and entitled move but I look at it as good business long term… security

Instead of handing your kids 5-10k at Christmas don’t tell them and put it on the principal on their house. You just gave them way more than they can probably calculate over the life of the agreement thus allowing them additional cash flow and reduced interest. Plus when you die your cash isn’t paying off all their interest that you told them to take care of by adding 250 per month to the payment 7 years ago.

To each their own.

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