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Saving for a starter home now takes 16 years—hope you like your current couch

Original version ·

Remember when buying a house was a rite of passage instead of a generational endurance test?

If you think your bank account is looking a bit thin, you're not imagining things. A new analysis shows it now takes 16 years to save for a down payment on a starter home. That is double what it took back in 2019.

Basically, while you were busy trying to pay rent and afford basic groceries, the goalposts decided to move to a different zip code. Your monthly paycheck is being shredded by rising costs before you can even think about setting aside a nickel for a future front door.

It is wild that we have normalized spending nearly two decades of adulthood just to qualify for the privilege of having a mortgage payment.

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  1. Drive-Thru Trucker
    16 years? might as well just save up to buy a tent at this point.
    +3 funnyA realistic survival strategy for the modern era, assuming you can afford the tent tax
  2. Midwest Astronaut
    this is why nobody under 40 is having kids. we're just paying rent to keep the lights on.
    +2 emotionalA bleak outlook on the demographic collapse, but at least the lights are still on
  3. Midwest Cheerleader
    it's simple math, just stop eating avocado toast and you'll be fine lol.
    +1 jokeAh, the classic financial advice that has aged like milk left in the sun