re: So all I need to do to afford a $750,000 house

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Yes the person that said closing costs on a purchase can be rolled into the loan

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Ok. Enjoy your poverty.

You figured you'd live your life in poverty? We agree on this issue.

According to the Great Google.
"Rolling closing costs into your mortgage means including the costs of buying or refinancing a home (like appraisal fees, title insurance, etc.) into the total loan amount. Instead of paying these costs upfront, you'll pay them back over the life of the loan, along with interest. "

Im my area, I see a bunch of sub 2000 sq ft houses for less than 300k. Also, in my area, a teacher starts at 60k. So after 5 years the teacher will be making 72k.

If the person rents for 5 years, lives frugally like a 22 year that wants to purchase a house should, and saves, then will be able to purchase a house. If during that time the person gets married to another teacher, then they can definitely purchase a house.

They shouldn't be buying a 4000 sq ft house.

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RollTide4547

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This "we had it so rough with interest rates" is bullshite.

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Nobody is arguing that. We're arguing that what young people are experiencing today isn't unprecedented, that others have lived/succeeded through the same.

I could be wrong about this, but the "woe is my generation, and it's because of that generation over there" thing is fairly new in the American experience, at least where economics is concerned. It never occurred to me to be pissed about how much effort/time it took for me to be able to buy my first house, and I haven't found basic economics challenging so knew better than to be pissed that my parents bought their first house for $6K.

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Im not aggrieved or disadvantaged...quite the opposite.

Yall believe this to justify the gross atrocities youve inflicted on the economy(and society) while yall have had the most power in government. Young people DO have it rough right now with massive inflation as direct causation of these stupid policies.

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So much for having no grievances, huh? You couldn't make it past two paragraphs before you contradicted yourself.

And your grievances are whiny bullshite.

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Massive subsidization of housing market for unfit buyers
TARP
Quantitative Easing
"Too big to fail"
Covid shutdowns
More massive subsidization of housing market for unfit buyers

...and we wont even discuss shipping all manufacturing overseas and importing in the third world for cheap labor

and now we are at a cusp of another needed correction in the housing and stock market. This is the point of my arguments. When that correction comes, will Boomers and Xers do the right thing and oppose bailouts...or will they do as they have always done and pass the buck to their children?

We will see just how principled yall are

Someone asked the question earlier "why would I care if im not young etc?"

I am not young...but not old either. I see the declining marriage and birth rates and its a problem. I will have to live through the consequences of this...not Boomers.

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Whiny bullshite rolled into one big cop-out.

I could take issue with every one of your grievances on some legit basis but will focus on your casting boomers as the boogeymen.

Why? Covid shutdowns for example - how exactly were those uniquely Boomer-imposed burdens? If we're assigning generational blame, shouldn't it fall on the voters who actually put the power-hungry/constitution-ignoring politicians in office? So tell me, who's more responsible for putting the politicians in office that wielded the heaviest hands on Covid, boomers or younger generations?

Where you see generational divide (blame), I see it more ideological - Left v. Right, Liberal v. Conservative. Not that there are hoards of stalwart Republicans leading the conservative charge, but the fact is this country would be far better off if Democrats never saw power the last twenty years, and especially starting with Obama. Going back to your generational thing - tell me, who got f'n Obama elected - was it boomers? Or was it every generation behind boomers? Who got Biden elected?

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SDVTiger

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These instafamous influencers have really warped people’s minds about how much shite costs.

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I'd like to hope no one is so clueless as to relegate life changing financial decisions to instafamous influencers, but maybe you're right.

I do know wannabe homeowners who held off on purchases 4-5yrs ago while awaiting a price pullback, or for other sundry reasons, probably regret their past procrastinations now.

The objectionable issue in this thread is the attempt to pass blame for their own procrastination or miscalculations on to others. Their decisions or indecisions are someone else's fault. It's a loser's pretext.

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I don't think you've bought many houses. The only 2 ways I know of getting a zero down home loan is the GI loan or paying PMI (Private Mortgage Insurance). You have to pay the PMI until you've paid down the principal to the point you have 20% equity. Likely be 150+ a month.

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Braindead.

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Of course they can

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Please explain how they can