I’m in my fourties’ unable to afford a three bedroom apartment in my city with an income in the top two or three percentile. I’ve had boomers tell me with a straight face that “they did it” so it can’t be that hard despite a 5x increase in housing costs relative to income.
I’d have to spend every single post tax dollar for two decades to afford an actual house. Not counting interest and other taxes and council rates. I’d have to work for 70+ years to afford a nice house in a nice suburb!
“Have more children!”
“Make housing affordable!”
“My retirement fund is all in property and banks!”
I’d have to spend every single post tax dollar for two decades to afford an actual house. Not counting interest and other taxes and council rates. I’d have to work for 70+ years to afford a nice house in a nice suburb!
“Have more children!”
“Make housing affordable!”
“My retirement fund is all in property and banks!”
There’s your problem.