With home prices up nearly 40% since 2020, buyers are now wealthier and older, making them more likely to outbid younger buyers with all-cash offers.
  • bitchkat@lemmy.worldEnglish
    0·
    4 hours ago

    I bought a property for my son to live in. I figure, I can pay for a modest condo now or he can buy it after I die. And #2 means paying rent for 20 years or so.

  • Nuke_the_whales@lemmy.world
    0·
    8 hours ago

    The downpayment required on a home in my area, is almost the cost of the entire house was 20 years ago. We can’t even save for a downpayment when the finish line is running ahead of you at full speed

  • Ms. ArmoredThirteen@lemmy.ml
    0·
    11 hours ago

    I’m at the edge of being able to buy a house in my lifetime and it is so frustrating. I’ve had decent career progression, I live fairly comfortably right now, I still rent. Every year my finances are at a place where I could afford a home in a couple years but those couple of years never gets closer. I’ve decided I’m going back to college instead so I can crack into a more fulfilling but lower paying job. If I’m going to be a wage slave forever might as well be doing something I find value in instead of chasing a dead dream of owning a house

      • Ms. ArmoredThirteen@lemmy.ml
        0·
        9 hours ago

        Back to game dev. I tried the first time around over ten years ago, dropped out of college, got one abusive job in, then switched to QA automation for pay. I had a heavy focus on programming because I’m naturally good at it but I want to be a level designer so I’m going to study that specifically. Gonna halve my salary or worse to get into level design

        • mohammed_alibi@lemmy.world
          0·
          7 hours ago

          I feel the gaming industry itself is abusive and low pay. In HS, I thought I was going into the video game industry as well. But now I’m just doing enterprise-y REST API development. It pays more and is less demanding than making games. Family comes first I guess. I can do my passion projects on the side if I want. I managed to buy a home by moving to LCOL area in Texas instead of going to California.

          • Ms. ArmoredThirteen@lemmy.ml
            0·
            5 hours ago

            My entire social circle and marriage fell out from under me in the last year. Nobody left but me so I’m going to take advantage of the freedom to make questionable decisions since it will only affect me now if it goes sideways

        • FridgeReborn@lemmy.world
          0·
          8 hours ago

          I graduated college a couple years ago with a comp sci degree. I had dreams of game dev as a kid, but anxiety about pay and affording a house plus just the overall shittiness in the games industry pushed me elsewhere. I’m currently in a QA automation job for a consulting company… wondering if I’m going to become you in 10 years

          • Ms. ArmoredThirteen@lemmy.ml
            0·
            5 hours ago

            If you’re trans too then add that to the list lol. I got pulled away from the industry for stability reasons but I’m not in that situation anymore. I’ve only ever wanted to be a game dev, as a kid it never occurred to me to be anything else, it still doesn’t. I know I’m not one of those hotshot early twenties devs who cracked into the industry right away, I’m a bit slow to it, but I’ll get there if it kills me

  • TacticsConsort@yiffit.net
    0·
    14 hours ago

    Yeah, I’ve been saving hard for nearly 6 years now, I have zero debt from higher education, extremely cheap rent because I live in my parents’ backyard, and a well-paying job… and I still don’t know if I’ll be able to get a house by 2026.

    If even one of those factors were different for me, then owning a home would become completely unrealistic.

    And politicians wonder why we’re not having kids, huh.

    • Vertelleus@sh.itjust.worksEnglish
      0·
      10 hours ago

      I’m in the same boat. I’m not living in my parent’s backyard, but I still have cheap rent. All I can do is sit and wait and hope something changes.

  • AmidFuror@fedia.io
    0·
    14 hours ago

    That’s just a nonsensical metric to use to track the impact on young buyers. The fact that it has risen from 49 in the past year means there is something big going on, but what an indirect way to track it!

    The median age of first-time buyers also rose from 35 to 38, while the share of first-timers dropped from 32% to 24% of all buyers for the year ending July 2024.

    Median is better, and the fraction of first timers is an indicator. Would be best to know the median age of first timers.

  • eran_morad@lemmy.world
    0·
    15 hours ago

    shit sucks. bought my house at age 38, that was fucking old back then, but i’m in an expensive metro so okay. thing is, we’re ready to upgrade and an upgrade is going to be fucking $2M, if i can even find a fucking upgrade in my town (questionable). all of this to say: i’m probably stuck, and if i can even move, some schmuck is going to buy my mediocre house for like $1.2 - $1.3M. housing’s totally, completely fucked.