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I’m 48 and have never owned a home.
DMS1 being able to afford to buy a house when young has less to do with salary and more to do with the economic class you were born into. If someone has parents that pay for their car, insurance, tuition and college expenses then that person is at a huge advantage entering the job market at entry level. They will be able to save for a down payment immediately. Now if someone the same age comes from a poor or working class background they often graduate with double or triple digit students loans, a car loan, credit card debt that they accumulated in order to live while in college and they often send money home to support their parents or their siblings. This person has to put their entry level salary toward paying off that debt and family expenses for a decade or more before even considering saving for a down payment. that is often why people in there 40s don’t even own homes. Let’s be honest with ourselves about unearned privilege in this equation. The class you are born into is not a personal accomplishment. It is luck.
Yo y’all really need to start a “Humblebrag” bowl, between this and the “at what age did you hit 6 figure salary” post earlier this week.
Lol I live in ny
How many of you bought these homes with zero help from your parents? 23 year olds straight out of college buying houses? Must be nice.
Better question: at what age did you buy your first house without mommy and daddy’s help?
33 and LA, but it was definitely one of those recession-causing weirdo loans for people who didnt deserve them. I hung on, but barely.
Never. Moved cities for work and always rented. Gulp - 40-ish
At 23. Sold with 27 with 100% return. Invested all the money. Now I’m a renter at 40.
Would also be very curious to know what cities these homes are being bought in...
Straight up, anyone who bought a house in their 20's didn't do it themselves, their parents bought it for them or they inherited. There should be a distinction as to when YOU bought a house.
I live in LA and am NOT making ECD money. #Renter4Lyfe
I don't think I'll ever be able to buy a house with the salary I'm on
I still rent and I’m 42 with a wife and kid. Damn SoCal market.
Lollolollllololol
I move every two years. I still rent at 40!
I'm 32, moved from NYC to Chicago, and don't think I'll ever get approved for a home loan with my shitty credit score.
Townhouse at 23 in suburbs of Chicago
Had to laugh and agree with the Humble Brag comment but I think it's good to share this stuff for everyone to push everyone forward and ask for more. How many companies make a few bill & up each year. #cogs
My mommy and daddy still haven’t bought their own houses either… my grandparents just up and left this earth is all 🤷♀️