In my opinion, the real problem is not government policy. It is what many people are told in their 20’s. I heard it. Your generation has it so difficult. You will never be able to buy a house. Yours will be the first generation not to live a higher life standard than your parents. Etc., Etc. I heard it in the 1970’s a period of high unem…
In my opinion, the real problem is not government policy. It is what many people are told in their 20’s. I heard it. Your generation has it so difficult. You will never be able to buy a house. Yours will be the first generation not to live a higher life standard than your parents. Etc., Etc. I heard it in the 1970’s a period of high unemployment, high inflation, continuing anti-war violence in the early part of the decade, double digit mortgage rates, and 20% required down payments for houses. It was extremely rare for someone in the early 20’s to think about buying a house. I entered the job market in 1970 with a college degree and an MBA, yet I was 32 before my wife (who also worked) and I bought a starter house and made due with one car. The mortgage rate was 9%. That was a difficult period where the pessimism appeared warranted. It certainly wasn’t the easy period some young people paint it to be. I would argue the pessimism was more justified than today. But despite the gloom of the period, it was a much better time than what parents went through with a depression and World War II. Don’t believe the politicians, pundits and press who keeps peddling this nonsense for their own selfish purposes.
In my opinion, the real problem is not government policy. It is what many people are told in their 20’s. I heard it. Your generation has it so difficult. You will never be able to buy a house. Yours will be the first generation not to live a higher life standard than your parents. Etc., Etc. I heard it in the 1970’s a period of high unemployment, high inflation, continuing anti-war violence in the early part of the decade, double digit mortgage rates, and 20% required down payments for houses. It was extremely rare for someone in the early 20’s to think about buying a house. I entered the job market in 1970 with a college degree and an MBA, yet I was 32 before my wife (who also worked) and I bought a starter house and made due with one car. The mortgage rate was 9%. That was a difficult period where the pessimism appeared warranted. It certainly wasn’t the easy period some young people paint it to be. I would argue the pessimism was more justified than today. But despite the gloom of the period, it was a much better time than what parents went through with a depression and World War II. Don’t believe the politicians, pundits and press who keeps peddling this nonsense for their own selfish purposes.