Owning a house is the dream of us all. We grow up hoping we will work and earn money to finally buy a place of our own as what our parents did. However, now we're working hard to make that dream come true, only to realize that it's impossible.
If you're unfamiliar with the real estate market, here are some basic things you need to know. The average house price in the second quarter of 2021 was about $374K. And by the end of this March, the price increased by roughly 20% compared to the same time last year, the highest in 35 years. And with the average annual income was about $80k in 2021, do you think you'll afford a house anytime soon?
This problem is not for anyone of us in particular. The whole generation is struggling to find a way to get through this but to no avail. Youngsters cannot afford to live alone while saving money to buy a house. Everything is just expensive. Their savings are practically too little to make any change in their lifetime. Why does it have to happen this way?
One of those young people who has lost hope of becoming a homeowner is a Reddit user named _TYFSM. He realized this harsh truth after seeing a house worth $185k in 2014 go up in price five times in eight years. Mind-blowing. He was 26 and still living with his parents because he couldn't afford anything. Sharing about how life hit him in the face, many people came vibing in to share about their dilemmas.
Check out his post below and tell us what you think about the situation with our house market right now.
It's sad and frustrating to see this. Can we just say that we were born at the wrong time? If we were born in the same time as our parents, maybe things would be different.
If you're unfamiliar with the real estate market, here are some basic things you need to know. The average house price in the second quarter of 2021 was about $374K. And by the end of this March, the price increased by roughly 20% compared to the same time last year, the highest in 35 years. And with the average annual income was about $80k in 2021, do you think you'll afford a house anytime soon?
This problem is not for anyone of us in particular. The whole generation is struggling to find a way to get through this but to no avail. Youngsters cannot afford to live alone while saving money to buy a house. Everything is just expensive. Their savings are practically too little to make any change in their lifetime. Why does it have to happen this way?
One of those young people who has lost hope of becoming a homeowner is a Reddit user named _TYFSM. He realized this harsh truth after seeing a house worth $185k in 2014 go up in price five times in eight years. Mind-blowing. He was 26 and still living with his parents because he couldn't afford anything. Sharing about how life hit him in the face, many people came vibing in to share about their dilemmas.
Check out his post below and tell us what you think about the situation with our house market right now.
#1 A 26-year-old man who was dreaming of owning a house is now in despair seeing the prices and doesn’t believe he could ever afford one
Source: tkoch (not the actual photo)
#2 The realization came when he remembered how much a house across the street from his parents cost in 2014 and how much it was sold just recently
Source: _TYFSM
#3
Source: _TYFSM
#4
Source: _TYFSM
#5 And it’s hard to deny the numbers which show that salaries don’t grow as fast as prices, which doesn’t give any consolation
Source: _TYFSM
#6 People in the comments didn’t give hope either because many of them are in the same situation as the OP
Source: _TYFSM
#7
Source: _TYFSM
#8
Source: _TYFSM
#9
Source: _TYFSM
#10
Source: _TYFSM
#11
Source: _TYFSM
#12
Source: _TYFSM
#13
Source: _TYFSM
It's sad and frustrating to see this. Can we just say that we were born at the wrong time? If we were born in the same time as our parents, maybe things would be different.