I am a 31 year old American and I’m in the small percentile of millennials that own a home and bought it themselves. I did not have any help and I had no mommy-daddy money. I am middle-class, I work Mon-Fri and I did it with zero help. I willingly lived out of a car and friends couches for 2.5 years until I had enough to buy a 300k home with 8% down payment. I had to move across North America to get it because my home state was too expensive(WA) and I got pushed out. I’ve owned my home for 9 months and it’s already gone up an estimated 50k in value just from prices in my area increasing.
With this said, I’d be more than happy if the housing markets corrected. I would rather see my friends who are stuck renting have a fighting shot at getting a home and acquiring the living spaces they deserve. I don’t think people should have to go through what I went through in order to get a home and I would love to see the banks suffer and collapse if it means my generation can have a fighting chance.
It’s just money. And it is tough watching people I care about suffer through these hard times and get their eyes gouged out by landlords simply because they weren’t willing to sacrifice nearly every single comfort and amenity in their lives to create security and stability that past generations had easy access to.