Meanwhile, wages have not kept up, largely to support/advantage/non-impact for those who bought in earlier. Boomers take advantage of low taxes, low-cost services, etc. driven by low wages.
Even with low interest rates, the size of the necessary downpayment is prohibitive and exposure to interest rate related shocks are much greater.
And everything else is much more expensive for an expensive house, including insurance, which is also getting harder to get and more expensive due to climate change.
Tl;DR: Younger generations are not getting housing because of older generations. We all know the answer to this question…
Ya housing prices right now are a joke. What nobodies talking about is it doesn’t only affect buyers. Owners are getting screwed on their taxes. I am paying $500/month more this year than last in taxes alone.
Maybe it has something to with home prices rising an average of about 7.5 % per year over the last 10 years which means more than doubling.
Bought my house 2 years ago and it had doubled in price since 2013.
Meanwhile, wages have not kept up, largely to support/advantage/non-impact for those who bought in earlier. Boomers take advantage of low taxes, low-cost services, etc. driven by low wages.
Even with low interest rates, the size of the necessary downpayment is prohibitive and exposure to interest rate related shocks are much greater.
And everything else is much more expensive for an expensive house, including insurance, which is also getting harder to get and more expensive due to climate change.
Tl;DR: Younger generations are not getting housing because of older generations. We all know the answer to this question…
Ya housing prices right now are a joke. What nobodies talking about is it doesn’t only affect buyers. Owners are getting screwed on their taxes. I am paying $500/month more this year than last in taxes alone.