Average Joe still can't afford a home

[FV_bot]

Average Joe still can't afford a home

Between 2000 and mid-2007, the median home price soared 64.9% to $229,200. The median income, meantime, rose just 16.6%. For would-be buyers, the math doesn't work.

[Dancing Lotus]

Before the Edwardian era most people didn't own a home. In fact only about 16% of the population.
I own my home and I do see the long term advantage but I also don't think renting is all that bad it makes budgeting easier because you don't have to worry about unexpected repairs.

[HandyMom]

Before the Edwardian era most people didn't own a home. In fact only about 16% of the population.
I own my home and I do see the long term advantage but I also don't think renting is all that bad it makes budgeting easier because you don't have to worry about unexpected repairs.

Renting was great! I lived in some very nice apartments and it was nice to come home and not have to worry about the yard, shoveling snow or any repairs. A private parking space in the carport. I always had a dishwasher and a laundry room right in the building too, so that wasn't an issue. Wow was I spoiled! No wonder I feel like owning a home is drudgery! But it wouldn't have been a good place for a kid to live, mostly catered to singles and older couples.

[vigilant20]

I don't think that's true at this point. Lots of first time home buyers jumping in now that homes are undervalued. I placed an offer on a home with an asking price under $100K this week, and have looked at about a dozen so far in that range.