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Difficult_Citizen t1_iu12ybk wrote

Reply to comment by Kozzzman in FIL overlooking the property he just bought. New Brunswick, 1979. by Brucius704

Land and home ownership are wildly more difficult things to buy these days. Back then OP's FIL could buy land, a house, a car or two and send 3 kids to college on his income alone working a normal job. Tax rate on the wealthiest member of society back then was 90% and the nations middle class thrived. I think the tax rate on the nations wealthiest these days are less 25% while the middle class burdens 37%+. Basically, today's adults do not possess the buying power of their parents/grand parents and most are locked in credit card debt. Something that didn't even exist back then.

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Kozzzman t1_iu14yuw wrote

I get all that, but I have a very average job and was able to buy property very recently, and I’m New York metro area.

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ATXSTLWPB3POINT0 t1_iu184v2 wrote

That. Also the fact that I’m 34, have $5 in my wallet, zero savings, one maxed out credit card, a full time job, but just barely getting by.

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EnvironmentalDeal256 t1_iu1gcrj wrote

You may want to think about prioritizing a few things. Or not it’s up to you.

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ATXSTLWPB3POINT0 t1_iu2xhiv wrote

Hey thanks. Considering I was homeless 6 months ago and suicidal, this is good to know.

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Difficult_Citizen t1_iu1befm wrote

If you have an average job in NYC metro and bought property in NYC metro, then there is something you're not telling us.

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Kozzzman t1_iu1g4sh wrote

Nope. Saved up and bought a little house outside NYC.

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Difficult_Citizen t1_iu1oi0z wrote

Define "Outside NYC". Can I ask your job and what you paid for the property? I suppose it's possible there are a few unicorns out there, but mileage varies and for most, owning a home mostly feels un-attainable at this point and is something only boomers or rich people can do.

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