re: Millennials will spend 45% of income on rent before age 30

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Also, the problem is most of us want to live in cities, right?

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it's almost like that's where the jobs are

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That probably varies by area but I'm sure there are plenty of people on here that commute to Houston from The Woodlands (30+ miles in some cases) or Katy or some similar suburb.

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And they probably hate their lives.

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It’s not like the little towns we most likely grew up in. My parents house cost 175K for a 4 bedroom/2 bath house on a couple acres.

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I built a 3/2 for $160 that would be $400+ in Dallas.

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Paid about $50k for it, so not the best part of town. Sold it and used proceeds to buy another home. Better, but out a ways. Paid $95k. Move out of state. Purchased home in far suburbs. Paid $155k. Sold three years later for $225k. Plowed profit into new home, paid $365k. Now, 17 years later, it's worth nearly $600k. Planning to sell within 3 years and the new place will likely be in the $800k-$1Million range.

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People's expectations need to real.

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I would rent in Lakewood or state Thomas if i wanted to stay in dallas with a family. Once I’ve saved enough i would buy. It depends where work is as well. If i worked north then I’d rent in Richardson/Plano/Frisco until i could buy.

I don't think that dude gets the concept of equity as well as he thinks.

I understand housing is expensive, but there are a lot of wants that people say are needs now. If you're willing to live well inside ones means for a few years when first working you can put a lot of money toward debt while putting money away.

The money that is spent on eating out, coffee, huge cell phone plans go well into 5-10k a year. Not to mention that if you live in a major city you don't necessarily need a vehicle. Is it a hindrance to not have one sure, but it's not a vital means of survival. You take out car notes and car insurance. Make a budget money can be put a side. It's not fun, but its doable.

I'm 35 so somehow I am a millennial based off dates, but in my first 3 years of teaching I didn't take a vacation. I rarely ate out, and any extra money went towards my student loans and got them paid off.

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first 3 years of teaching

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my student loans

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Lol

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but in my first 3 years of teaching I didn't take a vacation. I rarely ate out, and any extra money went towards my student loans and got them paid off

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I bet you'll totally think this was worth it later in life