I know I’m supposed to want it to keep going up as a wealth generator or whatever.

But like… I wouldn’t be able to afford the monthly payments if I bought my house right now and it’s scary. Also none of my friends are buying homes, none of them are even renting full places. Just like renting rooms.

So what are your feelings home owners of lemmy?

  • Okalaydokalay@lemm.ee
    241·
    10 months ago

    I feel the same.

    I have a ton of equity in my house, but my house was overpriced when I bought it. It’s depressing thinking that I am “fortunate” among my peers to own a home.

    I ranted to my mom and some older family members and none of them get my frustrations. Seeing the mobile home from 1974 down the street on the market for half a million is depressing and angering. Seeing million dollar homes were once bought for $250,000 10 years ago is angering and depressing.

    I just wanted a nice home in the suburbs and live a boring life. But all I could afford and didn’t get outbid on was a home built shortly after WWII ended and incredibly small. My monthly mortgage is “low” as is my interest rate. But rent is outrageous and not at all fair or reasonable.

    The ratio is way off compared to 20 years ago, for income to housing costs.

    I want to cash out my equity, but then I’m just going to have to start all over again, compete against “investors” who offer outrageous amounts for homes, and have to have an insane interest rate.