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this post was submitted on 11 Sep 2023
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I'm English so can't comment on the situation in the US, but reading the comments in this thread it seems quite similar to the one here.
I bought a house in 2010, just before I turned 23 and I'm very much the exception to the rule. I live in an area with some of the lowest house prices in the country. I didn't go to University and got my first full time job when I was 19. It didn't pay well but I lived at home and I was a stoner. I didn't go out much, just to friend's houses to get high. My town is walkable enough that I didn't need to drive (I get that not driving isn't really possible in the US, or even in some parts of the UK).
This meant I saved up a lot of my money without really trying. The house I bought cost £41,000. I sold it in 2022 for £39,000 which should give you some idea of the state of it.
My Dad bought a house in 1986 for £12,000. I can see that house from the one I live in now, which cost me £79,000 in 2022.
That is some achievement to lose money on a house in that time period, did it fall down 😂
Nearly. It had awful damp, no central heating and an open coal cellar at the front.
And suddenly the story makes so much more sense 😄