I live in the USA, and our future seems more bleak than it ever has. Is not about politics, although politicians do have an impact on it. It’s really about our quality of life, and cost of living, which has not changed for the better, it seems, in a really long time. The cost of living keeps going up higher and higher, and much of our country still believes that even with increased cost of living, there is never any reason whatsoever to pay people more. So for instance, a job that paid 10 bucks an hour in the year 2002, that same job might still pay $10 an hour now. But I think we all know that the cost of living has dramatically gone up from 2002 to now.
Even White collar jobs though seem to be threatened to now, which is not something I’ve ever seen before. Positions like analyst, engineer, business intelligence, revenue management, whatever you want to think of. Any corporate office job, people are suffering. The cost of living is absurd, buying a house is simply out of reach unless you have dual income and it better be nearly six figure dual income…
I just don’t see how Americans at large are going to survive the next 30 years?
I didn’t downvote you.
Many homes are being sold very fast, and very competitively. You need to be pre-approved AND have a down payment before the target house is even listed. If you don’t put enough down, you have mortgage insurance which makes the monthly payment go up quite a bit.
Some very competitive places homes are being bought for cash, then often remortgaged to free up the cash you put in, but, you have to have it in the first place.
many buyers are telling their broker/agent “If a house comes up in xyz neighborhood, and it has these basic criteria, get my bid in sight unseen”. It’s going that fast. Your normal work a day, save your pennies home buyer doesn’t stand a chance.
This doesn’t even touch on investment firms doing this at an enterprise scale.