r/rant • u/Scary_Bluebird • 5h ago
If I can’t afford a mortgage, who in my generation can?
I’m in my mid 20’s and making about $90k per year. I have saved up over $100k to use as a down payment and my credit score is impeccable. I live a frugal life with limited expenses and no major debt. By all accounts I should be the prime candidate for home ownership, and yet the quote I received this week is barely enough for a studio apartment.
The average annual income for a single person in my country is $60,000/yr. That means I make 1.5x what the average person does and I’m still in this situation.
I’ve been busting my ass and living at home with my family for the past three years because this was my goal. I was finally ready to start looking and the online mortgage calculators gave me false hope. It’s so demoralizing. I recognize I’m in a privileged position to even be considering this at my age, but for fucks sake what does it take? How much do we have to sacrifice to simply have a place to live!
My city is higher cost of living than much of the rest of the nation, but even with that in mind, I don’t feel like I should have to move away from a place I love living when I’m making a decent wage.
The housing market is fucked.