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...

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[–] Carvex@lemmy.world 34 points 1 year ago (1 child)

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

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[–] Kernal64@sh.itjust.works 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. 🫠

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[–] RushLana@lemmy.blahaj.zone 32 points 1 year ago (2 children)

Take a fucking guess ? This article is joke : "young Americans, holding off on buying a home has become the new norm"

holding off ???????

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[–] InnerScientist@lemmy.world 8 points 1 year ago

Just do it™

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[–] thebardingreen@lemmy.starlightkel.xyz 2 points 1 year ago

They have to afford that avocado toast.

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[–] womjunru@lemmy.cafe 23 points 1 year ago (3 children)

I’m not paying 500k for a “fixer upper” in a shitty neighborhood that sold for 50k 10 years ago.

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[–] crunchy@lemmy.dbzer0.com 9 points 1 year ago (1 child)

When we were looking a few years ago, the only thing under $250k was a house built in 1897 that shared the property line with a hoarder shed that had a family of raccoons going in and out while we were looking at it in the middle of the day.

It's either that, the $500 fixer-upper, or the $800k new construction. And I'm in the Midwest, not even in a high COL area.

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[–] womjunru@lemmy.cafe 10 points 1 year ago

And that 800k new place is built like absolute shit. They tossed that up in a couple months. Didn’t even drywall the garage interior. It’s basically a shack.

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[–] henfredemars@infosec.pub 7 points 1 year ago

Affordability is one thing. On the other hand, I think that housing is ridiculously overvalued. No way that a piece of junk is worth half a million. I just can’t stomach what appears to be putting my money in a hole and setting it on fire.

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[–] owenfromcanada@lemmy.ca 20 points 1 year ago

Why is this headline so fucking stupid?

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[–] frustrated_phagocytosis@fedia.io 12 points 1 year ago

We broke

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