Your right on money and going off the gold standard. I don't understand bitcoin or how or why it has any value.

This is huge but very few do it today whereas in the 50's into the 70's many did it here. My dad built 3 while working fulltime, I built 2, all of my older cousins and several of their dads built several houses, all working fulltime-one paycheck. Single paycheck and work on the house every night and most weekends! It all depended on priorities! There is an old adage in welding- "easy for some, hard for others!"

Look into it,,,

Actually spend 10 hours doing some research

Encourage your kids/grandkids to do the same

Young people today actually live in a great time and have huge opportunities

Average rent for a small house around here is $2,000-$2,500 a month.

We stayed in a small two bedroom house for a year while our current house was being built.

It’s expensive out there and even more so when you are trying to save a down payment to buy a house.

A guy used to be able to by a home build from sears and build it himself.

Yup, years ago many lumber companies around me had packages. One such, Wickes, comes to mind. There were contractors and lumber companies that would rough a house in and the owner would finish it. When modulars/double-wides came into vogue the move went toward them. Quick! No house today, but a house could be set tomorrow!

The current generation of first time home buyers don't want a "starter home." Oh no, not good enough. They want their "dream home" right from the start. They want someone else to mow their lawns, maintain their vehicles, fix their broke plumbing, etc.

The Pew research showed that wages HAVE kept pace with inflation.

One thing that I agree has made things more expensive for young families is the outrageous cost of child care. We can thank government involvement for that. Young families that have grandparents that can keep their kids while they work can reduce their expenses significantly.

I started with nothing, and with a little luck and some shrewd decisions, I still have most all of it left!!

wages are keeping up with inflation but not housing costs and thus those looking for homes are doing so in a tight, high priced market with higher interest rates. Keeping pace with inflation means ones is not gaining ground.
Many home owners who locked in low mortgage rates are very reluctant to sell these days as their new mortgages will cost considerably more and thus putting fewer homes on the market. In our area housing costs in the last 5 years have increased about 50% for new construction with the lot prices even up more.
Bryce

Hopefully you saw the graph I posted for my County Bryce. During Carter’s era interest rates were way, way higher than now. So high this generation could never imagine them being so high!

Laziness plan and simple. No job. But got the weed card for stress))))))))!!!!!!! No drive no ambition

If you have no expectations for yourself then you have no disappointments!!!!! The new mentality. Give it another 20 years. It will get worse.

Yes we had a home mortgage that reached 14% in 1981. Thank God we bought a lower cost home: When we bought in 1975 based on the banking systems then we needed 20% down and we could only afford a mortgage with taxes and insurance that was 25% of our monthly salary. My first teaching contract was for 10.4 K so we could only afford a house that with 20% down that was about 30K in 1976. We are now going to try and sell this place to m move into our new condo this fall.

Bryce

It isn’t just this generation. Back in the 60’s-80’s my one uncle was a very sought after home builder. His clients were the owners and BOD of Dow and Catholic churches sought him out to build churches for them!!! Well, well-to-do parents brought their newly married kids to him so he could build them their first house of dreams. Dreams they were! He told me that he turned every single “family” down and told them that they were over their heads and couldn’t afford him. He said he (This word is unacceptable on Trapperman) a lot of big $$$ people off but he never relented. He said, and I’m plenty old enough to understand even at that age to know that these”young marrieds” had no conception of cost but wanted the same quality and size house that their parents have and what they were raised in so that’s what they expected to have right off the bat!! Any house smaller and of less quality was not going to be considered by them. He wished them luck he said!

If appears many have not looked at the market and the prices on the So called starter homes today.. I was very surprised at what they are asking for homes when I looked a few months back. I'm looking for rentals so nothing fancy just basic 3 bedroom small places and possibly multi family units duplex to quad plex. Prices are absolutely insane for what you can get.

I'm not starting out or need a starter home and I don't want to think about what it would be like to have to save for a down-payment when starting out with the high rent and then attempt to find a mortgage I could afford.

I will say the price increase has also really increased my net worth as well as my property taxes. It's bitter sweet because at the same time it's nearly pricing me out of buying rentals. But has got me thinking about building a building at the farm and just making it two stories and putting a few apartments in upstairs.


Always nice to have a plan the can pivot.

If you want to get into rentals the interest rate will be higher than for primary residents. But you can get a multi unit place up to 4 units and as long as you live in one it's for your primary residence and you can get the lower interest rate and still get your rentals. After a year you can move rent the unit you were in and repeat. Tons of tax advantage in restate as well. Deprecation on the structure, Wright off for improvements that increas it's value, avoid paying taxes when you sell it after it it goes up in value in a 1031 exchange .






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Home ownership is earned. Not a right. It is up to the individual to find there path.

I lived in my car for 2 years
Then my truck
Then a trailer house
Then a fur shed
Now a house

That was my path. It was a stepping stone. Hard work. Blood sweat and tears. More sweat! !!!!!! This was done in 40 years. Last 20 in the house.

I just retired self employed at 60. I could not be with the work force no longer. My values were no longer exceptable. Nor my work ethic. )))))))!!!!

Nothing earned comes easy.!!!!!!!