From WSJopinion: Is buying a home affordable for Gen Z? In this week’s Future View column, students discuss renting vs. ownership, the real estate market, housing prices and saving for the future
A year ago I came close to buying a home. That says a lot considering my wages as a graduate student. After meeting with lenders, visiting realtors, and reassessing my budget, I was in position to take the leap. But ultimately my graduation and likely move from the state changed my mind.
Once I graduate and land a stable job, however, buying a home will almost certainly top my to-do list.Owning a home or even moving out after college is not considered the same rite of passage in America that it used to be. In many cultures, it’s perfectly acceptable to have more than one generation under the same roof. In fact, in some parts of the world, it’s the norm.
In America, it’s pretty common for college graduates to call their parents only once a week, but it doesn’t have to be that way. Having stronger familial ties would reduce loneliness and help to create stronger communities overall. For me, home is where my family is, and I never want them to be too far away.If I bought a home early in my career, I would feel secure owning something tangible, but my money wouldn’t grow as fast as stocks and most of it would be locked into the building.
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