Quote:
Originally Posted by tophcfa
Our daughter and future son in law make decent coin working in Boston, but there is no friggin way they can afford to buy a home and raise a family living there. They pay $3,100 per month for a very small one bedroom apartment in Brookline and her fiancé is up to his eyeballs in student loans. Us boomers were very lucky, things were much easier during our working years.
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I'm Genx and we couldnt afford to have our own place when young. We bunked up with roommates,married or not.
I rent now. You MUST have 3x your yearly rent in the bank without a job, and with a job you MUST earn 3x your rent per month th.
If rent is 2k, you must gross MINIMUM of 6k per month.
Not easy for the average uneducated type who grinds away for 20 an hour. Barely do able for the person with a Masters degree.
Once we started seeing housing as an INVESTMENT, rather than a home, is where it all went bad.