Comment on The Typical First-Time Homebuyer Is Now 40 Years Old, a Record High
blave@lemmy.world 4 days ago
I refuse to believe that anyone is buying homes
Corporations are buying up homes to rent them out or tear them down to build small condos to rent out.
Land is limited in America and it’ll get worse. Before covid I didnt buy a 5 acre lot for $4k because it was out in the desert + wife was unsure of job opportunities. The same lot today is going for $20k.
A few people are, but the market has dropped like a rock over the past year. Several housing markets are seeing massive drops as post-COVID demand dried up.
While this is true, job opportunities for remote markets are drying up. Those markets in rural areas went big because everyone was working remote, and you can do that from anywhere with an Internet connection. Now that everyone is being forced into RTOing, people are selling those nice little rural homes to move back into apartments in the city, or else trying to find business opportunities or something out in the country.
Agent641@lemmy.world 3 days ago
It’s extremely hard. I bought a house by myself last year, but I had the fortune(?) of living rent free in a van for 3 years while I saved as hard as I could. I was also working 2 jobs, 7 days a week, earning about $145k a year. And it’s one of the cheapest houses in the area, a relatively small block. Now I only work 6 days a week. The value of my house has already gone up by 18%, in one year that I’ve been here. It’s madness.
blave@lemmy.world 3 days ago
Absolutely none of what you just said makes any sense… However, I’m glad that you’re finally in a home.
Korhaka@sopuli.xyz 3 days ago
I found it easy, just took a long time. UK has got a fairly good minimum wage though, £12.21/hour now. Think it’s a little better than when I was saving (adjusted for inflation) too.
2 of us, got a semidetached bungalow for £230k on the south coast.
FenrirIII@lemmy.world 3 days ago
Was that your van parked down by the river?