I bought a house in 2013. Sold it for twice as much in 2020, it’s probably about triple now.
But looking at house prices and interest rates now, I don’t think I could even buy that first house if I was starting from scratch. I have an extra decade of seniority and (mostly) reasonable salary increases at or above inflation, and I would still be shit out of luck if I didn’t already own property.
That’s not painting a good picture of the future for the next generation, or even those in my generation who waited or needed longer to save.
I bought a house in 2013. Sold it for twice as much in 2020, it’s probably about triple now.
But looking at house prices and interest rates now, I don’t think I could even buy that first house if I was starting from scratch. I have an extra decade of seniority and (mostly) reasonable salary increases at or above inflation, and I would still be shit out of luck if I didn’t already own property.
That’s not painting a good picture of the future for the next generation, or even those in my generation who waited or needed longer to save.