And that's why the parable of "still having wet feet" is important. Because people will kneecap themselves for short term lower pay while setting themselves up for a terrible long term. Heck, that's how a lot of "first time" or even "Vet" home loans screw people. The basically 0 down they lure people in with seems appealing and then saddles them with a higher payment anyway.
Again, if the difference is what makes or breaks you then you are living too close to the edge for you to be getting into this to begin with. And that does preclude way too many Americans from home ownership, which is the bigger problem. But they still need to be responsible enough to not screw themselves along the way.
Inflation has destroyed the value of their paycheck which has not substantially increased even though profits have. So, yea, of course they are.
And that's why the parable of "still having wet feet" is important. Because people will kneecap themselves for short term lower pay while setting themselves up for a terrible long term. Heck, that's how a lot of "first time" or even "Vet" home loans screw people. The basically 0 down they lure people in with seems appealing and then saddles them with a higher payment anyway.
Again, if the difference is what makes or breaks you then you are living too close to the edge for you to be getting into this to begin with. And that does preclude way too many Americans from home ownership, which is the bigger problem. But they still need to be responsible enough to not screw themselves along the way.