WingsOfGood posted...
by the time she is 30 homes will cost $1.5 million on average and in California they will $5 million at the lowest
idk man, I bought my place a few years ago when I was making $20 an hour with my GF.
Granted we were lucky to both start making more (and I substantially more) shortly after but even for the first ~2 years making about $40 total we werent struggling. We werent living lavishly either but never worried about making the payment.
When interest rates are low its not as scary as it sounds. I doubt well get back into the 2.x/3.x range, but even when we get back down to high 4s/low 5s, I imagine as long as you can collect the 3% down (or get a first time buyers program) youll end up paying roughly the same as you would renting even with the PMI.
getting the down payment isnt exactly easy, but no way impossible.