I agree wholeheartedly. I remember when I started college I did a quick calculation of how much money I'd have to make for the lifestyle I wanted, and support my potentially future family - which is basically on par with what my parents offered me.
It surprised me how much more I'd have to make compared to my parents in order to afford the same things... almost double really. Most of the difference came due to the fact that the house is now worth three times as much as when they bought it 15 years ago. Housing in general is ridiculously out of whack with reality, and in a selfish way I hope the recession-style home pricing stays for good, it'll allow a lot more young people to buy in and actually afford to live in their own place within their lifetimes.
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I agree wholeheartedly. I remember when I started college I did a quick calculation of how much money I'd have to make for the lifestyle I wanted, and support my potentially future family - which is basically on par with what my parents offered me.
It surprised me how much more I'd have to make compared to my parents in order to afford the same things... almost double really. Most of the difference came due to the fact that the house is now worth three times as much as when they bought it 15 years ago. Housing in general is ridiculously out of whack with reality, and in a selfish way I hope the recession-style home pricing stays for good, it'll allow a lot more young people to buy in and actually afford to live in their own place within their lifetimes.
Why selfish?
You'll be able to afford your house. Your friends will too. Your parents will still own the same house. So will their friends.
I don't think it should be any different to hoping ipods will be cheaper.