32
Why is the number of first-time US homebuyers at a generational low? (www.theguardian.com)
submitted 1 year ago by to c/usa@midwest.social
15 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] 40 points 1 year ago (2 children)

I'm gonna go ahead and say, without reading the article, that stratospheric prices of housing and frozen wages since the early 2000's might be the reason.

But this is just an uneducated guess, I'm probably wrong...

  • permalink
  • fedilink
  • source
  • hideshow 2 child comments
    •
  • [–] 34 points 1 year ago (1 child)

    The bank won't approve a $1500 mortgage so I pay $2000 in rent

  • permalink
  • fedilink
  • source
  • parent
  • hideshow 1 child comment
    •
  • [–] 3 points 1 year ago*

    Hahaha I feel you. I'm paying $1.2k more in rent because I can't get a mortgage approval for less than what I paying now because I allegedly don't make enough. I have a credit score over 800 and could comfortably make the lower mortgage payments, but instead I'm being bled dry. 🫠

  • permalink
  • fedilink
  • source
  • parent