Is this really a “previous generation” thing?
And past generations before also experienced very HIGH interest rates as well as low.
(I will add that we got some money from my mother-in-law to get up to a 10% down payment. Less than $10K, I think.)
Plus dropping interest rates also does cause economies to overheat so there is job creation.
How much was the house and how much do they sell for in your area now ?(approximately)
We bought within a year of the market peak, and it was ten or more years before the prices returned to what they had been. At one point early in those years, my sister-in-law, in for a visit, remarked that a lot of the for-sale signs looked familiar from her previous visit. (Around a year.)
the problem is inflated asset prices combined with low wage growth combined with high interest rates. now i have some avocado on toast to finish
>having the previous generation finance this generations
it's a violation of human rights. people receiving shelter based on who gave birth to them
This hyperbole kills reasonable discussion. Right to shelter != right to own property, and any property at that.
Again, hyperbole. Plenty of countries have housing models that preclude private ownership. They're still fulfilling their obligation to shelter.
Most Americans do not face a lack of shelter, certainly not those considering purchasing a house. Housing cost is a serious issue in our cities. But it's not at the level of violating human rights, not by a long shot.