Quote:
Originally Posted by blankall
Do children who were raised by parents who were not able to or unwilling to help them have the same opportunities? You're also 45. You were lucky enough to avoid the madness going on and are likely actually profiting from it. Would you be in the same position you are in now if property prices were 4x what they were when you entered the market? If the cost of tuition was 4x? If your job prospects were a fraction?
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While I do feel the younger generation will have a more difficult time owning a home, is the situation described above really that much different than for other generations? The 4x price differential is probably about right. However, the same differential existed when I bought in the late 90's compared to when my parents bought in the late 60's. Parents bought a nice suburban home for $39k in 1969. Sounds crazy right? I bought a bungalow, more inner-city for $185k in 1998. Also sounds crazy, right? Potential home owners are now looking at around $750k for comparable homes. I can pretty much guarantee that a home buyer in 1969, 1998 and 2017 felt/feel the exact same way. "This is insane, it can't be sustainable. I'll be the guy that loses money on my home." Obviously it could happen if you are on the wrong side of a bubble, but overall, almost everyone feels that pain but gets through it.