08/25/2023
It is both frustrating and, frankly, baffling when those of us in the real estate business hear a Greek chorus telling everyone between 20 and 45 that they will never be able to buy a house. Period. It seems to be common "wisdom" and often without any effort expended researching the topic. Now that the word "research" has been corrupted I would suggest that young people curious about homeownership should do actual math, never mind so-called research.
To pick an example purely at random I can say that the family in the photo, Adam, Laura and P**a own a beautiful custom-built home as of 2 on Friday. What is of particular interest is that they are moving from a two-bedroom apartment to a home for a difference of a couple hundred dollars more a month than rent was. The mortgage interest deduction will more than make up those dollars but another very important number to young buyers is this one: $950. That was the down payment on this house.
Columbia is a bargain and there are plenty of nice houses under 200,000 dollars. Talk to a mortgage lender and learn what it actually would require to stop paying rent and own something and not what a vlogger in San Mateo says it'd cost them. Do the math before you convince yourself you can't own.
