The only thing that let my wife and I buy a home was my VA perks. 20% mortgage insurance, insane property taxes, criminal escrow accounts etc. Besides that, everyone of my liberal acquaintances believes that owning a home is "too adult", and investing in a home only depreciates your overall net worth. Because of this market madness, my home value has increased 70k in 3 years, but if I sold it for a profit today, I wouldn't be able to afford a home on the same block tomorrow.
So is the "average American" the bottom 30%? I know there isn't as 70% unoccupied rate on homes, so bullshit. This compares home prices to average wages, which is irrelevant. Not everyone should own a home, and if you save up for a decent down payment, a while lot of doors are suddenly open.
In other news, be responsible, and make yourself above average.
The only thing that let my wife and I buy a home was my VA perks. 20% mortgage insurance, insane property taxes, criminal escrow accounts etc. Besides that, everyone of my liberal acquaintances believes that owning a home is "too adult", and investing in a home only depreciates your overall net worth. Because of this market madness, my home value has increased 70k in 3 years, but if I sold it for a profit today, I wouldn't be able to afford a home on the same block tomorrow.
So is the "average American" the bottom 30%? I know there isn't as 70% unoccupied rate on homes, so bullshit. This compares home prices to average wages, which is irrelevant. Not everyone should own a home, and if you save up for a decent down payment, a while lot of doors are suddenly open.
In other news, be responsible, and make yourself above average.