A Boring Dystopia

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Millennials' retirement and homebuying plans may be a fantasy (www.businessinsider.com)

submitted 5 months ago by [email protected] to c/[email protected]

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[–] [email protected] 15 points 5 months ago (1 children)

My first home was 400k in 2019

That's not a HCOL area, unless you're talking about a 2 bed, 1 bath condo in a shitty school district.

And most states won't give you $20k and 0% loans unless it's a farm or VA loan.

Lastly, mortgage rates were 4% in 2019. Today, it's 7.5%. Getting 0% over twenty years is worth hundreds of thousands of dollars, but just the difference between rates then and rates now is almost $1,000 a month.

[–] [email protected] 4 points 5 months ago (1 children)

Honestly this dude’s story sounds a little too good to be true…0%? Really?

[–] [email protected] 2 points 5 months ago

Yeah, that doesn’t exist. Sounds like his parents gave him money.