Social You're in your 30s, do you have a house or a familly ?

[shockaholic12]

I turned 40 last year

In my 30s I was married , on my second house and would have had kids if the wife could have them.

It often times seems to me like a lot of the younger members of my generation have no interests in growing up and want to live like they are 21 forever. I don't really get it it seems short sighted to me and like it's bad for society as a whole. I guess maybe I have a little of that old school mentality and I think if you haven't sort of got life figured out by your 30s you are likely a loser or a degenerate . Maybe I'm wrong and the world changed but my views didn't. I don't know.

In past generations you could live in my neighborhood on a janitor's salary and support a family and own a home comfortably. Nowadays you can buy that dated fixer-upper off said retired janitor for north of a million dollars if you and your wife are both working 60+hour work weeks at jobs that require degrees that have already buried you in more debt to start than previous generations ever faced before you even started home shopping.

The same dream is exponentially harder for the younger generations to achieve compared to older. So less chase it. Can't blame them.

 

[SugarKrok]

No family. No house.
Wouldn’t mind the family part, but don’t care about the house.

 

[Contempt]

I have my girl and I have kids… but I do not own where I live. Although technically I am one of the owners of a couple homes through my company (we use the homes for business purposes though). I rent in LA (8k a month for my apartment it is beautiful though) I want to buy a home just waiting for the right time possibly by eoy. The type of home I want requires a jumbo loan and a very very hefty amount down.

The new American dream is waiting for a large dip in the market.

"The new American dream is waiting for a large dip in the market."

Not just in America mate, pretty much everywhere.

Thankfully I'm never planning on moving house again. The market is complete BS here.

 

[HomeCheese]

Got my first house in the San Francisco Bay Area at 29, before I had kids.

 

[560ti]

They'll be fucked when they hit 60 still paying rent. You gotta have your mortgage paid off before you turn 55, and have been contributing to your 401k for the last 35 years.

That's a good plan for sure. My current trajectory is outright owning my house when I'm 45 and my wife will be 38. It helps a lot, my parents for example can stack away money even while cutting their hours because them owning their house outright makes their living expenses stupidly cheap (there monthly property tax/homeowners' insurance for a 5-bedroom house currently is like 3x cheaper than what it would cost to rent a 2-bedroom apartment)

It varies a lot around the world, but in many (if not most) circunstances it's more financially efficient to pay rent and invest the money than buying a house and pay mortgage.

In the US (especially major cities) that hasn't been a viable alternative for probably 5 years now.

There's no longer a significant monthly gap between monthly rent price and monthly mortgage price. It's actually the reverse when you outright own the house, not only has your equity doubled but your monthly price is now 1/3rd the price of renting.