Yep. A pretty simple exercise for many people is if they can buy now the house they bought a couple of years ago. Or how their wage changed to support the new monthly payment if buying now. Or if they were renting now can they even save for the downpayment to buy their own house?
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My daughter just bought her first house.
One datapoint is not a trend. I've built a house 3yr ago. I earn almost twice more now but couldn't afford it if I wanted to do the same today.
Yep. A pretty simple exercise for many people is if they can buy now the house they bought a couple of years ago. Or how their wage changed to support the new monthly payment if buying now. Or if they were renting now can they even save for the downpayment to buy their own house?
Most adult Gen Zers are tracking ahead of where parents were at the same age - see homeownership rates by age for each generation: https://fortune.com/2024/01/17/redfin-baby-boomers-gen-z-hou...
What city/country, what total cost, what interest rates, how far from city center?
When you combine all these factors it's usually not a good place to be either renting or buying in most places.
So?