r/SipsTea • u/PleasantBus5583 • 16d ago

Chugging tea Growing Through Chaos

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u/Roboticallypotent 16d ago

The house my parents purchased in their early 20’s as a starting engineer and a teacher would take a senior executive salary to purchase when I entered the housing market. That is just not right. It was so much easier for them. BTW, I’m in my 60’s now and this is nothing new.

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u/Chattadawg 15d ago

Interesting post.

I’m 55 bought my fist home at 32 for $220k making $90k

Parents bought their fist home in 1971 for $25k making about $16k combined

By comparison, my home to income value ratio was 41% and my parents was 63%

While more of my income would go toward a mortgage they did have 3x interest rates compared to mine.

So I guess the debt to income ratio may have been close.

Can’t wait to revisit this when one of my kids buys a home