Quote:
Originally Posted by Sylvanfan
Again, my old want vs. need arguement. If you are a single guy with a 50k income do you have a brother, or friend or parents you can partner up with to acquire a place. I mean as much as our society is based on self and making it on your own, theres no shame in looking for help. The really wealthy families often pass their wealth down from generation to generation.
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That's true and if it came down to it I'd go that route. Hell, I'd insist on it. But still, if a guy or gal can't get a down payment from dad or convince someone to sign a 25 year-contract with him, he's screwed.
I know a double-income couple who were bringing in about 55 grand net in 1999 and they were nervous about committing to a house that cost 140 grand. They bought it and are still there now and a few months ago the house next door sold for 400 thousand bucks. Their income has probably gone up by 30-40% in that time but the value of their house has well more than doubled. They'd be laughed out of the bank if they were to try to buy their own house now.