I did buy a house in 2008. January of 2008. Two months before the market crashed. It took me years not to be upside down.
Fucking brutal. Glad you managed to bounce back
EVERYONE NEEDS TO STOP USING HOUSES AS AN APPRECIABLE INVESTMENT. THIS IS WHY THE OTHER HALF OF THE POPULATION ARE HOMELESS. of course wealthy people don't care about homeless people so this shitty-human-problem will never end, will it
For individuals and families who actually live in them, a house is a perfectly valid investment with positive side-effects for the overall economy. The issue is with investment firms trading around real estate like it's candy, which takes housing out of regular use and inflated prices for everyone who actually needs it.
Just be born rich, and use Daddy's money to start a business. It's so easy, anyone can do it.
"just stop being poor"
Pull yourself up by your designer bootstraps!
I was 20 and my father took all my savings a little before that year, gone was my future.
I saved up and tried again but with the prices we needed help of some dear friends, who turned out to just be after our money and we ended up trusting then too much.
Now should be attempt 3, but i can't summon half a million for a house that cost 100k when i saved up for my first attempt at buying a house.
Oppertunities have gone, life is over as far as i give a damn. It was...something...while it lasted alright.
Be angry, also, at the people who have rigged the game, those in power, artificially inflating prices to line their own pockets. And I'm so sorry you've had such bad runs! I'm also a little proud of you for, not only getting as far as you did, but a few times! Well done! I say we fucking eat the rich.
I've stopped being angry, i can't spare the energy to do so.
I just went into: "it's over anyway" mode. Straight up work, eat, sleep wait for death.
As someone who was 24 at the time, and probably the perfect age to buy one if it was my parents' generation, I was nowhere near ready to buy a house still... honestly, 23-30 were the best years of my life, then I got married and brought one in 2014, which was still semi decent to buy at the time. It was super hard, though, and I have no idea how all these people today are somehow paying above asking price in cash or getting mortgages paying crazy amounts over asking with these interest rates! Either I did things completely wrong in life or these bad decisions people are making today will come full circle a few years from now.
My wife and I just cancelled buying a home because we took a step back and realized that $2700 for living in a house is crazy. And of course the mortgage company is telling us we can afford it. After expenses, we would have no room left to budget for starting a family. Especially with medical care costs. I'm not sure how we're gonna make it work unless prices come down significantly.
2700 is a lot. But if your lender thinks you can handle it, that means you have *some *deposable income. I think you shouldn't buy a house, but invest some in the SP500 or some government bonds. Putting money away for your future greatly helps you grow some equality.
I was 3 :/
Should've gone to work in a coal mine to get that early start :3
I was 1
Damn I feel old lol
No, that was the peak of the previous housing bubble.
2010-2012 was the sweet spot.
2009 with the $8K tax credit. My wife and I purchased our first home then. Nothing but foreclosures on the market. Most prices had dropped by 50-60% from the peak.
now youll know better for next time
So if they’re 25 rn, they shouldn’t worry about buying a house instead saving for another 8ish years. That’s what I’ve seen for most people, ave home buying age is around 33.
Edit in 1981 median first time homebuyer age was 29 in US, and currently is 36 so it’s a jump, https://www.axios.com/2023/11/20/american-housing-market-older-homeowners-2023
