What makes you think people with degrees can afford a house by 30?
I think people with degrees are less likely to own a house by the age of 30, because they studied longer and have to pay off debt first. The only reason i own a house is because i found one for super cheap and renovated it myself.
That’s probably the best strategy. Or buying a duplex and renting half of it. Either way now-a-days in America you gotta be willing to put ALOT of sweat equity in the get a shelter
Or buying a duplex and renting half of it
That’s just buying two houses to rent one though
You kidding me dude? I’m past 40 and not chance to own a house. Grad and masters degree, working in IT. Ah and uni was good and free. granted that was in the developing world, now living in 1st world, but still no house.
When I was 7 my parents owned a house AND bought a beach house.
Op thinks we can afford a house by 30 if we go to college.
I think the non-college route yielded better than college for my age cohort. First dude I knew who bought a house was like 19 and he’d been working at Costco for 4+ years. 2008 happened and suddenly this young man had a stable job and savings and looked great on paper 🥲
People I know with most real estate are 2 kinds.
- inherited everything.
- stayed in hotel Mama for free for years while not studying, but working as plumber/contractors/mechanic etc starting age 18-19. By the time they moved out age 26-30 they were already loaded, renting out multiple apartments.
Both required parents, either they had to be wealthy and die early or decided to gift capital early; or to be super supportive, fun (tolerable) enough to keep living with after 18 and not asking you to pay rent.
36 and counting…
42 and counting… I actually have some small hope of trying to buy a house next year though. Not in my home of America though, it’ll be as an expat, and contingent on a foreign bank extending me credit. Not a sure thing at all, but… I’m hoping? There might actually be a path forward? Maybe?
Going to college doesnt allow you to buy a house at 30 either lol
I majored in buying houses
thats usually called flipping houses, or you are well off enough to buy and rent out houses or apartments.
NOT IF YOU DRINK THE STARBUCKS EVERY DAY.
I found a blurb that Americans spend an average of $22/week at coffee shops. That’s nearly $1200 per year!
With a median US home price of $410,000 and a minimum FHA loan down payment of 3.5%, all you need to do it save that for twelve years and never have anything go seriously wrong in the meantime. Then you too can pay about $3300 per month for 30 years, ultimately spending nearly $900,000 for your $410,000 loan.
That’s ignoring that the house prices are going up by more than $1,200 per year. If you save everything, you’ll still be further away from owning a house every year.
💲 Fine auntses 💲
I CAN LIVE WITH THAT AS LONG AS YOU I CAN STILL HAVE MY AVOCADO TOAST.
It did the opposite for me!
Rather, it puts you in debt. And now you have even less power. We should normalize everyone being able to live and not force college on everyone. But also make it free/super cheap so people can attend if they want without having to suffer financially
I got an MS in a STEM field and wasn’t able to buy a house until I was 36, supervising multiple employees, and married to someone who also contributed.
you’re lucky, what major was it, i had a friend who got the MS version of BS degree, no job, but she had a partner so shes pretty much fine, since she already gave up searching for a job like less than 6 months.
I went to college, I’m way over 30. Buying a house is a vague dream.
I got lucky and bought a house in 2015 at 28, I barely pulled it off with roommates, barely pulling it off now with a fiancé. There’s no way I could buy a house now. I’m not even sure we could upgrade if we needed to.
something similar happened to my recently moved in neighbor, he thought it was because he had achild, no your PARENTS chipped for the house and renovations, you arnt paying for that almost 1.5-2mil hours on your own.
I’m over 40 and could only buy a house somewhere in nowhere land with massive commute needs.
It’s not feasible and I earn way over average salary.
People have gone to college and still can’t even afford a single home, much less, a suitable apartment spot.
It took an MS for me, a BS for my partner, choosing to not adopt children, five years of saving, a minor inheritance from an unexpected death, and the housing market cratering due to the pandemic for us to be able to afford a house that we absolutely could not afford now without making 150% of our current income.
All it took was accruing nearly $100k in combined school loan debt, plus over three times that much in mortgage debt. That’s freedom debt! Murica!
or the job field is soo dismal , catch 22.
You don’t need to. All you really need is to go for a walk in your desired neighbourhood, find a house you love, knock on the door and introduce yourself. Ask any questions you have about the property, then kill the occupants, flay them and wear their skin as your own as you lead your new charmed life, for as long as you can.
you used to be able to afford a house on a single minimum wage job
maybe 60 years ago.
You dont have to go to college to afford a house by 30.
Likewise, going to college alone does nothing to ensure you’re going to get a job that can afford a house.
Louisiana baby. 2100 sqft 0.3 acre 4 bed 2 bath recently renovated for 130k
Exactly and those sorts of deals are everywhere.
Now is the house in some place you would want to live. Well that is another question.
Yeah. But that one would me living in Louisiana.
if you go to college you can’t even afford to pay for it by 30.
Exactly! Learn a good profession like electrician, woodworker, furniture making… any kind of profession where you can create beautiful products and services customers love.
When we’re at school the teachers never actually take the time to talk about:
- what non-university educated careers
- what they involve
- how to pursue trades based jobs
And it’s weird, because I’m sure everyone would love to at least dabble in woodworking or some other form of craftsmanship. But they don’t get the chance to.
The school-university pipeline works for a lot of people, but I don’t think uni straight after school is the ideal situation for most people. It means we lose sight of what education is actually for, outside of progression to further qualifications
Home economics and shop class used to be pretty common, but most folks don’t take them anymore either because they aren’t offered or students aren’t aware they exist.
The trade-off is that finding a job that doesn’t require the large debt that comes with college means the job might not pay enough for a house, or if it does, its the kind of job where you don’t get much time to actually spend at said house.
They didn’t say “find a job”, they said “learn a profession” it’s a different thing. It’s learning a skilled trade. You have to learn a trade first, then you can find the high paying job. Your early 20s will be relatively low paying, but by the time you are 30, you should have multiple years of being a journeyman under your belt and should be making good money.
I understand. Skilled trade is still a job that one needs to find in order to get paid. You either need to go to trade school then find a job or find someone to take on an apprentice and learn on the job.
Those jobs might pay well after a while, but what I wouldn’t like is the reason those jobs pay well is usually because they require a lot of overtime. So yes you might be able to buy a house, but you won’t get to spend as much time actually living in it.
A good tradesman can make a very good living. I know a builder who paid his mortgage off in his early 30’s.
It’s also one of the last bastions of hard work paying off.
Except private equity is increasingly getting involved.
You shouldn’t have to work to be able to live, period.
The right to live with dignity should not be dependent on productivity.
Anyone working full time should always be able to easily provide for themselves and a “reasonable size” family.
I mean, someone has to work. How do you choose who the unlucky bastards are that get sent to the field to grow food for the people who don’t have to work?
How do you choose who the unlucky bastards are that get sent to the field to grow food for the people who don’t have to work?
Preferably, they’d be people without disabilities that prevent them from doing that kind of work. OP didn’t say, “Nobody should work,” just that being able to live shouldn’t be dependent on working.
For millions of people with disabilities, the difference between those two ideas is life-changing. It’s important not to conflate them.
This is why we need tiny houses, trailer homes, etc! We also need to get rid of these real estate corporations that are manipulating the prices of everything we need to live with, especially housing!!! :-(
You need apartment buildings. Lots of them. Individual houses are extremely wasteful and isolate everyone from each other.
Ah apartments, another way for you to never own anything and be on a subscription model for life.
You know that you can own apartments or rent houses?
True, ive never seen apartment owning as actual ownership since you dont own the land its on though. I loathe apartments but I also am constantly busy with a lot of orokects that are impossible in an apartment setting. For someone who just games on their apartment and goes out on the town sometimes, apartments are fine
