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Study: Hopeful homebuyers need income of nearly $117,000 to afford typical home in U.S.
(www.bankrate.com)
this post was submitted on 25 Apr 2025
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A Boring Dystopia
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The house will appreciate more than the mortgage interest. It's debt, but not bad debt.
That only matters if you ever plan on selling your home. Not everyone buys houses as a financial investment.
As a homeowner - I 100% agree with this.
I absolutely hate that I paid as much as I did simply because the generation before mine decided to turn the whole concept of home ownership into a financial investment vehicle.
I hate how it changes the thought processes around the decisions I make in regards to my home.
I hate how it impacts the relationships with my neighbors and how it morphs the very conversations we have. That it has drastically changed the type of people who would otherwise have wanted to live in the community and be a part of it instead of just trying to ride the wave investment dollars.
I hate that it means my own children, once grown, will likely be unable to afford to live in this neighborhood - even if they rent. And I hate that it's going to become their problem too.