10 hours ago
- Older generations criticize younger generations for not affording homes, attributing it to reckless spending on luxuries like avocado toast.
- Historical home prices show a dramatic increase: from $12,000 (grandfather) to $150,000 (author) and now $970,000 minimum in the author's neighborhood.
- Affording a million-dollar home requires a salary of $250,000-$360,000 annually, which is unrealistic for many.
- The author suggests cutting costs like avocado toast is insufficient; new income sources are needed.
- Future home prices could reach $10 million, making homeownership even more unattainable for the next generation.
- The author questions sustainability and predicts a collapse in the housing market.
- Renting is presented as a smarter alternative: lower costs, modern amenities, and money invested in dividend stocks for passive income.
- Homeownership is criticized for tying people to one place and requiring constant upkeep expenses.
- The author recommends selling homes, renting, and investing equity in dividend stocks as a better strategy.