Quote:
Originally Posted by RevYouUp
Or just live at home for 5 years in your early 20s and save 20k a year for a 100k down payment, it’s not hard saving 20k a year living at home on a 65k salary if you’re good with money. But people are too prideful to live with their parents nowadays
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I had to take out student loans to get through school and when I did graduate at age 24 I landed right as tech was going through it's regular cycle of crashes so my first job paid $30k/yr (I even had to take a short term cut to $24k for a while) while I was carrying $30k of loans (that's roughly $53k in today's money) then things went sideways at the company I was at and I didn't crack $50k in income till I was 28. I lived at home all that time and I started paying $300/mo in rent to my parents once I had a job. (When I hit 30 my parents helped me with a $25k gift and I was able to buy a condo for $189k - even then things were tight.)
I don't think this is at all an abnormal experience for the typical 20 something - both from my circle at the time but from the 20 somethings I work with.
There's a slim number of folks who can nab a $65k job right out of school, are debt free AND have the option to live rent free with their parents.