We bought a house in 2003 when housing prices were affordable on a single income. We wouldn't be able to afford a house in our city today even though we have two incomes now. We have young adult kids who might never be able to afford buying house, even on good salaries once they get to that point. We will likely become a multigenerational household down the road to make living expenses more realistic for all of us.
Anytime I see these LA prices, I genuinely wonder who buys a home there, and how do they swing the payments?! My wife and I both have what I'd consider well paying jobs, but a ~6k mortgage payment? That'd mow us under.
We bought a house in 2003 when housing prices were affordable on a single income. We wouldn't be able to afford a house in our city today even though we have two incomes now. We have young adult kids who might never be able to afford buying house, even on good salaries once they get to that point. We will likely become a multigenerational household down the road to make living expenses more realistic for all of us.
Anytime I see these LA prices, I genuinely wonder who buys a home there, and how do they swing the payments?! My wife and I both have what I'd consider well paying jobs, but a ~6k mortgage payment? That'd mow us under.