Gen X here, First house at 22 in 1988, FHA, at 10% interest rate on a $39,000 little cr--kerbox. but it didn't have be be fancy to rest our heads and keep the rain off our back.
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33 back when you could get a nice house in a nice area of Portland for 300k
21 yo...Jacksonville fl making 31k in 2003 and house was 101k...
21- $108,000
- It was 2009 and the govt was giving out $8000 to first time home buyers. $200k house. $4500 down. Put two roommates in it and they paid the whole mortgage. Sold a few years later with $150k profit. Bought a way better house. Locked in at 2.8%. roommates again, paying 120% of the mortgage.
I was 48. Student loans and high cost of living area, couldn't afford it sooner. Finally, moved to a lower cost of living area, mortgage rates dropped to historical lows, and BO-M. Now, I am a homeowner.
27 yr old using an 80/10/10 to avoid PMI and a 7.5% 30 yr fixed. Brutal monthly payment with a low-paying job. No fun. Just mortgage and life.
Post 2008 financial crisis eventually allowed me to refi into a sub-3% 15 yr. I don’t think that will be repeatable anytime soon.
32
- FHA loan requiring only 3% down, with low home prices and cost of living at the time in Arizona (circa 2015).
18
19!!!! I mortgaged it with Wells Fargo too! I was young but married and my husband had a great work history. We bought a cheap ranch style with about 1k Sq ft (soo small)! It was about 50k. We paid less for the house than the apartment and we rented and had a laundry room and yard for our dog. It was a win-win.
I was 23. The wife and I both worked for the company and they preapproved us for far more than we could afford. Which they should've known. Thankfully we were smart enough to buy within our means.
Why? Who cares?
I was 24
25, in the last decade
36
35, paid it off in 18 years.
39
58
In my 30s but only because husband is a vet and we got zero down.
26
Age 35.
Could only afford it because a parent had passed.
30
I was 27. My 1st child was 29. My 27-year-old, who works for a bank, has saved 20% down but doesn’t have the income to qualify for the mortgage required. My 3rd child will never be able to afford one.
About 25 in the early/mid 00’s. Don’t remember exactly.
@ntw+1urpI6Ia Can’t tell if you’re blaming your situation on parenthood or your age, but don’t play the victim. You made inefficient choices in there leading to your inability to be a homeowner. Note I didn’t use a derogatory adjective to describe your choices as I didn’t walk in your shoes, but they were definitely inefficient if they did not allow you to attain your goal. There are always ways to reach the goal (if that was/is one), it’s all about what you’re willing to do to get there.
Age 23 in 1981 house cost 68K and interest rate was almost 17% and our incomes were nothing like today. Now, home prices are through the roof, but 6 and 7 % are still historic lows.
Another example from the 80’s -
In October 1981 a typical home cost $70,398. But with mortgage rates averaging 18.45% that month, the $870 monthly payment took up about 55% of the median income at the time, according to Black Knight, a mortgage data company.
It is really hard for first time buyers in 2024.
24, but this is when you could do a 80%first mortgage, 15% second, 5% down. 7 year ARM @ 4.25. Refi'ed down.
No idea how our kids are going to do it.... :(
30 San Francisco Bay Area
Can’t afford one because I work for Wellsfargo. I am 39.
21
28 here.
At 42
Late gen x single parent here. I will never be able to buy a house but if I survive long enough, I'll be inheriting two.
24
4 years. Built it (Legos)
38 here. Can't afford it yet.