Borrowed 3k from my bad didn’t have to pay back. There is nothing wrong with getting help from family to buy a home. Fuck this article. The housing issue is caused by large corporations who are buying up all the houses along with interest rates keeping average person from buying a home.
BaronDoggystyleVonWoof@lemmy.world 10 months ago
You don’t even need to have super rich parents. My mother helped me get my first home with 15K that she saved throughout the years. (I paid her back).
Fredselfish@lemmy.world 10 months ago
M0oP0o@mander.xyz 10 months ago
I wish I had a rich bad.
Fredselfish@lemmy.world 10 months ago
3k doesn’t make you rich. I get 3k every tax return just on the kids or I did now one is over 18.
Now if it was 10k or more than maybe but even that is middle class not rich people money. Believe it or not having a million dollars will not make you rich. Oh it helps but it easy to lose and go poor again.
People don’t understand what rich really is. 10 million our more now your a rich fuck because you now have generational wealth.
M0oP0o@mander.xyz 10 months ago
I think the issue is what if you have no parents or parents with no money (or negative moneys). You could do everything right, go to school, get a professional job, and still not be able to buy a place.
Echo71Niner@lemm.ee 10 months ago
Yes, that is the status quo now in Canada, you need to make $150,000 a year, minimum, to afford a mortgage to buy a low-quality apartment or home.
BaronDoggystyleVonWoof@lemmy.world 10 months ago
The housing market is definitely fucked worldwide. Many don’t have parents with money and can only rent or not even move out of their parents house.
Some of us got lucky with minimal down payment from their parents 5-10 years ago. Its just ridiculous how the market changed in such a small time. Like the houses are still the same, the population did not grow exponentially. Wtf is going on?
M0oP0o@mander.xyz 10 months ago
I thought I got hosed 10 years ago but when I look at prices now it is night and day. The demand has pushed people into smaller towns and into the rural areas so now I get to see a modular home that sold for $75,000 10 years ago be listed for $300,000 and sell.
The cost of new houses is not helping and talking with some small scale builders (they can only build 1 or 2 at a time) the cost to build is high enough to give many pause.
This is what happens when real estate becomes your nations biggest industry.
Sneptaur@pawb.social 10 months ago
There’s an element of “be fiscally responsible and you too can save up” but more often than not, the answer is “make more money”.