My household income is well above the median in my area. Besides a bit of student loans, I have no other debt. I’m doing pretty well compared to most people my age, financially.
I still needed an FHA and down payment assistance to squeak into the cheapest house on the market that wasn’t a trailer
I know a few millennial homeowners, and almost every one falls into one of two categories: they were gifted the home (or down payment) from a family member; or they married a Gen-X doctor in 2007 and bought right after the market crashed in 2008 and they’ve watched their home value quadruple since then.
That’s it. Have family that’s well-off enough, or marry someone that had money at the right time to exploit a financial disaster.
I’m a millennial homeowner that had no assistance from my family and bought in 2022.
Honestly though, I think luck is the only reason we got our house. We met the previous owners and they wanted to make sure the house was going to another couple or family that would actually live in it and call it home, not someone planning to rent it out. We put our bid at asking price (even though our realtor was pushing for us to go higher) and they accepted it the next day.
My household income is well above the median in my area. Besides a bit of student loans, I have no other debt. I’m doing pretty well compared to most people my age, financially.
I still needed an FHA and down payment assistance to squeak into the cheapest house on the market that wasn’t a trailer
I know a few millennial homeowners, and almost every one falls into one of two categories: they were gifted the home (or down payment) from a family member; or they married a Gen-X doctor in 2007 and bought right after the market crashed in 2008 and they’ve watched their home value quadruple since then.
That’s it. Have family that’s well-off enough, or marry someone that had money at the right time to exploit a financial disaster.
I’m a millennial homeowner that had no assistance from my family and bought in 2022.
Honestly though, I think luck is the only reason we got our house. We met the previous owners and they wanted to make sure the house was going to another couple or family that would actually live in it and call it home, not someone planning to rent it out. We put our bid at asking price (even though our realtor was pushing for us to go higher) and they accepted it the next day.