this post was submitted on 16 Oct 2023
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My parents once asked me why I didn't have enough savings to buy a house yet.
I almost lost my shit.
LOL when my father asked me how much savings I had, I immediately knew that our life experiences were vastly different.
ask them why didn’t they have savings to “buy a private yacht yet” at your age, because I would guess it’s roughly similar in the proportion of pay/cost
I'm 35, and if you squint a bit at the mortgage, I "own" home. With my partner. And we'll be paying it off for another 27 years. And we're the lucky ones of this generation.
Buying a home with saving, fucking lol
Pay off over 15 years if you can or you'll pay about double the total value just from interest.
I do like that theory. Unfortunately my wallet disagrees with it. Thankfully we've locked it in for 2.2% for 20 year, and semi-realistically we should be able to pay it off before that runs out. But the official period is 30 years, since that's the legal maximum.
Well, the good news is if you have a fixed rate mortgage the crushing amount of incoming inflation may cut that back to like 15-20 years!
I'm a couple years older than you, but my partner and I feel incredibly lucky to own a home as well. We bought an abandoned property back in 09' for 35k and have spent the last ten years fixing it up. If I wasn't able to borrow 20k from USAA back then, I don't think I'd even be able to afford the rent in my neighborhood nowadays.
Once I hit my 40s, massive home diy projects have either become necessities (too expensive to hire out), pipe dreams, or like PA DOT working on route 202 in my youth (never ending with incremental steps that never improve the experience of driving). The energy loss is off the hook, and I’m not a flubbynutter.
The only people my age that I know who own their own house are also drug dealers.
Guess I should sell drugs if I want a house.
Damn I just thought about it and the only home owner friend I have that isn't a drug dealer, is a cop.
I think you're on to something.
My guy sold weed until he owned a house then had a kid. He figured he pressed his luck long enough. He also had an effective laundry.
Not too far from reality where I live. One dude already is doing time because he was blatantly dropping cash payments on things like a HOUSE and multiple cars.
The feds had a FIELD DAY with him.
In comic, dystopian reality, selling drugs (really just weed) was how I graduated college debt-free, and graduating without debt was the only way I could take out/afford a loan for a house.
So apparently, it's true what they say, whether planting or selling trees, the best time to do it was 10 years ago. The second best time is now! (Except don't)
I'm not sure if selling weed alone would be good enough in a legal state. I could corner the market on LSD tho. Ain't nobody got that 'round here!
I had a legitimate talk about doing this with my girlfriend. As much as I hate how sketchy it is, it still just seems sooo tempting.
Funny fungus is cheap, quick, easy and low stakes with decent margins if you're careful. Or so I've heard
But is it worse than tricking other people to work 40+ hours a week doing whatever you say and giving you most of the value they create? Because that’s the other option.
Plus if you buy a bunch of houses you can get them to give back most of the money you pay them.
Just accept the fact you’ll never own a house and will forever live in a shoebox.