joe m
Well-Known Member
First house and wife at 26 in 1991. Bought house number 2 in 2001 for 156k now worth 525k
I agree especially at like 12%. I'm ancient buying at 34.I'm impressed at the MFers that bought before they were 25! I felt like a hero for buying at 29 !
It was a different time and place, and also rural. Our parents instilled in us not to waste money renting, and i can say I have never rented in my life. I went from the parents house to owning my first one. I owned it a year before getting married, but my parents let me accumulate a sizeable down payment by staying with them after college for a year.I'm impressed at the MFers that bought before they were 25! I felt like a hero for buying at 29 !
Thanks. It was close. He was sleeping in the bedroom when the smoke detector woke him. He opened the bedroom door to find the living room engulfed and himself trapped. He smashed a window, threw both cats out, then crawled out, badly gashing himself on broken glass. He ran down about a hundred yards to the neighbours in his bare feet and underwear to call the fire department. The house was a total loss, apparently started by squirrels chewing the wiring. Caught one cat the next day but the other was so freaked that it took about two weeks to live trap him.Thank God they both survived, good luck to all.
If it isn't true, I'm betting it's not far from the truth.....
A friend and I rented an apartment until a bottom feeder stole his car. It wasn't long after that we moved into a rent house. I wasn't ready to buy anything since I was draft age and did eventually get drafted. 4 months after discharge, I bought a house.It was a different time and place, and also rural. Our parents instilled in us not to waste money renting, and i can say I have never rented in my life. I went from the parents house to owning my first one. I owned it a year before getting married, but my parents let me accumulate a sizeable down payment by staying with them after college for a year.
I wonder what it would be teens, especially unmarried single men
I betcha the chart you posted has the same downward angle as to how much the dollar bought from back then till now.I neither follow nor completely understand how the economies of different eras compare. The best that I can guess is that 40 years ago, the dollar bought more. A man making $20,000 a year was somehow able to buy a house with a price of $35,000.
It took dual income and almost 40% down to buy where I live now in the year 2004.
It isn’t exactly apples and oranges though.
The three bedroom, two bath tract house many bought in the 70s are not as common anymore, at least out here in California. With land being so expensive and the BS fees and regulations, builders have to build UP with large 2 story houses on tiny lots with small yards.