You dont have to go as far back as the 60s for this to be true. In 1985 I attended a college that cost $6000 per year which was financed 60% Pell Grant. I bought a house for 50K on a 32k salary in 1992 at age 25, sold it in 98 and bought a 100k house on a 60k salary at age 31 which is now paid off.
My 25 year old daughter would need to save no less than 20% for a house that would cost closer to 150k (starter home) plus paying back student loan debt. And she can't even get work that pays the 30k I was earning in 1992.
pumpnectar9 on October 30th, 2020 at 13:27 UTC »
"When I got hired here I started at $15k a year!"
Every old timer when I got hired at my fire department, implying that we just make so much money
W1SC0 on October 30th, 2020 at 13:44 UTC »
And we were all told that if we went to college, we’d get a good paying job and life would be easier for us.
At the rate I’m at, I’ll buy my first house when I’m 10 years older than my parents were when they bought their first house.
Clearbay_327_ on October 30th, 2020 at 14:24 UTC »
You dont have to go as far back as the 60s for this to be true. In 1985 I attended a college that cost $6000 per year which was financed 60% Pell Grant. I bought a house for 50K on a 32k salary in 1992 at age 25, sold it in 98 and bought a 100k house on a 60k salary at age 31 which is now paid off.
My 25 year old daughter would need to save no less than 20% for a house that would cost closer to 150k (starter home) plus paying back student loan debt. And she can't even get work that pays the 30k I was earning in 1992.