Much of this is self created but I can sympathize with it a little bit. I’m a millennial and struggle with the future economic outlook after this massive round of inflation. I make a little over $100k per year and don’t see how I will be able to afford a home in Dallas without raising my income by about $50k. Wish I would have bought a starter home 4 years ago when I could find a decent one for $350k and now the same house is about $600k. It is depressing

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Posted by tgerb8

Huntsvegas

Member since Aug 2007

5997 posts

Posted on 3/9/24 at 5:18 pm to MC5601

yeah. I get this completely. I've worked hard and have been blessed. making a smidge over 150. recently paid off house. so we're pretty financially stable. but I'm telling you, money is still not easy. I felt much more secure making 70k 7-8 years ago. I do think the gen z era have it tough but it's their own doing. somehow things like fiber internet, a 1500 dollar cell phone with 70-100 dollar a month service, Hulu, Netflix, and trans dating site subscriptions became "necessities." That's a good $500 dollars/month that they feel like they HAVE to spend that previous generations didn't.

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Posted by David_DJS

Member since Aug 2005

18002 posts

Posted on 3/9/24 at 5:25 pm to MC5601

quote:
I’m a millennial and struggle with the future economic outlook after this massive round of inflation. I make a little over $100k per year and don’t see how I will be able to afford a home in Dallas without raising my income by about $50k. Wish I would have bought a starter home 4 years ago when I could find a decent one for $350k and now the same house is about $600k. It is depressing

First, don't believe that there's anything you're dealing with that's not been seen before. You think inflation is bad now, when I was just out of school it was running much hotter than it is now and mortgage rates ran well north of 15% (30-yr fixed). And my circumstances were much better than those that prevailed for my parents at that age, and they had it a shite ton better than what my grandparents endured.

Second, understand things are cyclical. As difficult as the current environment is to buy a first house, it wasn't that long ago it was a great time to buy.

Out of curiosity, what would it cost you to build a 1500 sq ft home on the outskirts of the metroplex that has circa 1980 starter home features/finishings?

quote:
It is depressing

Maybe I'm just cold-hearted but I don't understand this. Why is it depressing because some things aren't easy right now? Something to keep in mind - in general, life gets better and easier with time, and there are few periods of time this isn't true.

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