re: The age of the median home buyer in 07 was born in 1968, in 2024 it is still 1968.

I feel bad for young folks entering adulthood/workforce today. I graduated college in 2012, was able to buy a home when I was ready to by 2017, and have since been able to upgrade and have a nice place that I have a 15 year mortgage on.

Feel like for anybody who starting working after 2020, they have a much higher barrier of entry to home ownership. But they just need to be patient, get a quality place that they can afford (make a few concessions as needed), and slowly build their equity and wealth. But many folks think they need to jump straight to a 500k home and they are off to a rough start debt wise.

ETA: Im an engineer and we have some very bright, young employees at our office with 2-3 years experience, and just overhearing some of their conversations about house hunting (or even apartment shopping to rent) makes me feel bad. Young, smart professionals who work hard yet are priced out of anything besides a fixer upper.

I mentioned this in another thread, but young people don’t understand the principle of delayed gratification. I work with some dumb guys that don’t want to contribute to their 401k with the company matching that percentage because they said it’ll make their paycheck less. They don’t believe in saving at all. I’m shocked at the amount of expensive lunches, breakfasts, cigarettes, energy drinks and beer they go through.

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can you give me a sample financial profile of a GenZ person, who I understand to be no older than 28...

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Went to college and got a finance degree.

$30k of student loan debt
Makes $70k
Puts 6% into 401k for the company match
Has a $450/month car payment

So roughly per month
$4,200/month income after taxes, insurance, and 401(k) (generous)
-$300 student loan payment
-$500 groceries
-$450 car payment
-$100 car insurance
-$1200 rent
-$200 utilities

Leaves you roughly $1600 a month for all other savings and spending. To put 5% down on a shitty house at $250k, you’ll need $12.5k plus closing costs plus an emergency fund, etc.

Not easy to do… at all

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The OT: where you should just take a second job, never eat out, and move to the middle of nowhere to buy a 1000 sq ft house

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Theres a 2 BR starter home in Brewton Alabama just down the street from where I'm visiting my uncle for only 75k...

He says it just needs a gut kitchen and bath renovation, floors and code elecrical panel.

On the bright side, the main local employer, Walmart, focuses on part time only positions so an ambitious young guy would have plenty of time to do the work himself.

I think everyone should start with a fixer upper to learn necessary home maintenance skills. And some of these people just need to face reality that they need to look in lower priced neighborhoods. Like yea sorry you cant afford a house in uptown Dallas, go live in Frisco and raise your family or move to new state.

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Over half the woman their age are gay and hate men because it’s cool

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And 20% of them are on OnlyFans.

ETA: My bad, it's 10%

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Would you enter the dating scene knowing 1/3 of the prospects are dudes pretending, OF whores, or man-hating shrills?

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Would you enter the dating scene knowing 1/3 of the prospects are dudes pretending, OF whores, or man-hating shrills?

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Sure, I’m not a bottom third male

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I made the example with well above average income and was intentionally generous on monthly net income and low on almost all expenses.

The point is, if you are 28 and make more than the national average for all earners, you shouldn’t have to drive a jolopy or eat beans and rice to MAYBE be able to afford a shitty house in the ghetto

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It's fascinating that people can't simply admit that young people today have it harder than they did.

I bought a 3br/2ba house 15 years ago in a good school district on an entry-level accountant's salary for ~$200k, with a total monthly payment on a 30-year note (P&I, tax, insurance) of just over $1,000.

Someone in that same position today is making maybe $5k more than I did a decade and a half ago, but that house today would cost nearly $400k, ~$2,400 per month on a 30-year at today's rates.

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Sure, I’m not a bottom third male

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Well that's the other problem. The rest of the women have inflated views of themselves due to decades of feminism and simps online who treat 5s like they're supermodels. You better be top 10% or you're out of luck. Or just wait till those sluts are 30 and washed up. Nobody wants that.