Quote:
Originally Posted by Boomer
Our worst was a 10% in 1979 and we were thrilled to get it. Had a couple of 8’s along the way.
But! The thing is now though that house prices are an obscenity.
Remember the days of not spending more on your mortgage than 25% of gross. (And that advice might have included taxes and insurance. It was a long time ago, so not sure.)
One of our next generation just bought their first house. They had to go up a notch or two in price because landlords were grabbing up everything cheaper in the college town where they live. They are two-income, no student loans, good savers and had a 20% downpayment —but still the chase for that first house has been crazy times. A quote from them, “Now, nobody can raise our rent!”
Another of our next generation just bought one in CA. Holy Digits!!!
I read an article the other day about how we Boomers need to get the hellouta the way so our houses will be for sale. Bashing Boomers iseems to be the name of a game recently. (sigh)
Boomer
|
Hopefully it doesn’t end up like ‘08....lot of young people back then bailed and left the keys in the front door on their way out