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A millennial couple who make $250,000 say they can't find a home in their budget: 'We refuse to become house-poor'
(www.businessinsider.com)
this post was submitted on 14 Aug 2024
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A Boring Dystopia
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I was shocked to find out that over 50% of millennials own their own homes.
I'd venture to say a big chunk of those folks inherited wealth. Most millennial homeowners I know inherited money from grandparents, aunts, uncles, and/or parents.
And like many who inherited wealth, these folks often make up their own little rags to riches story about how they got where they're at.
It's not impossible to do without inheriting wealth. I put 20k down with my wife in 2018 and we didn't inherit anything. We rented a very small house before that and now we are better off than the people this story is about.
I finished PhD in 2015, married in 2017, buy house 2018. My wife has a professional doctorate as well. We owe a shitload still, but it's for like 2% interest so it isn't that bad.
It's not rags to riches, but it's doing what you can do in the middle of the northernmost southern state and heavily investing in our white collar educations.
I must have missed the part where I said it's impossible to do.