Quote:
Originally Posted by Johnny199r
My spouse and I are both gov't lawyers. We can take a year off whenever we want to travel (one of the reasons I left private practice) without it hurting our careers. We can take a child oR 2 with us until they're school aged. Challenging, but done by more than a few people.
I think most people aren't in a position to buy before mid 20s at the earliest considering education commitments these days. Many rent until later 20s at least. I'm 31 and rented a $500 apartment for a number of years while making 6 figures. I don't feel that I lost much in the way of equity. I don't regret it, as I also relocated cities. Just about every young professional I know in their late 20s rents.
I get what you are saying. I just think it's nuts when you compare the average price of a home 10, 20, 30 years ago, relative to average wages to today, it's just exploded lately with no end in sight as people can't get enough when it comes to borrowing for mortgages. I just think that it's unfortunate as many people don't leave any breathing room in case there are money problems at any times.
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I really cant agree with your points about renting. I'm not sure when renting is ever a good idea if you have the ability to own. I would of been so much further behind If I would of not bought my first home in my early 20's.