I feel like I'm taking crazy pills. It's easy to get out of this cycle. Most states will have First Time Homebuyers programs, and even if you've had a home before, not having a home for 3+ years can cause you to re-qualify again.

Live in a shithole for a while if you have to. OWNING a home is like paying yourself. It's so much cheaper than renting, yes you have to fix things when they break, but you should want to learn those skills anyhow. Toilets, water pumps, hot water heaters, all that shit is pretty easy to fix yourself. Every penny you put into a house is like a savings account that doesn't actually count against you. You get done with that loan, and the worth of that house is yours. You're not paying $2k/month to someone else, with nothing to show for it. You're literally paying $2k a month to YOURSELF. Want to move? Sell the house. Anything you've put into it, you'll get back and then some.

Just whatever you do, get a FIXED rate mortgage. Or go for owner-financed. There's lots of options and renters just make excuse after excuse after excuse why they won't buy a house.

[–] bitsplease@lemmy.ml 20 points 2 years ago (4 children)

renters just make excuse after excuse after excuse why they won't buy a house.

"wahhh I'm living paycheck to paycheck and may not be able to pay rent this month, let alone set aside a down-payment and closing costs for a house when houses are at an all time high price"

Poor people, amirite? Don't they know that the solution to all their problems is to just get more money?

[+] thantik@lemmy.world -16 points 2 years ago* (last edited 2 years ago) (3 children)

Weird that they can afford $2k in rent somehow, but can't afford a $1200/mo mortgage...right? If they wanted more money, they would stop renting and pissing all of that money away, don't you think?

[–] bitsplease@lemmy.ml 16 points 2 years ago (1 children)

Super weird that they can't scrape together a down-payment in a time where 60% of Americans are living paycheck to paycheck and housing prices are at an all time high.

Also, with interest rates being as they are, mortgages are likely more expensive than rent. Im in the process of closing on a house, and I know our monthly cost is way the hell up from before.

Seriously though dude, you need to take a step back and realize you're a bit out of touch. All your comments have big "millenials wouldn't have money problems if they just stopped buying so much avacado toast" energy

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