This doesn’t apply to California need 400k for a down payment, you could stack 400k in 2 years by “not eating out”? Lol
What Would Happen If All Young People Gave Up 'Luxuries' to Buy a House?
- Thread starter ADevilYouKhow
- Start date
get these nets
Veteran
How?
Not challenging your right to your opinion, but how has it generally not been the case with Black home ownership?
Because of house ownership expenses, mortgages being underwater, second mortgages taken out...
Home ownership is not the gold standard of wealth y'all on this forum make it out to be.
get these nets
Veteran
Two things
There is no y'all. You responded to a question that I asked.
That question was about how "building equity hasn't generally been the case for Black homeowners."
You listed a few pitfalls, but didn't really answer the question.
ogc163
Superstar
Not an opinion...I'm on my phone so I can't provide all the links but I recall posting studies done showing the disparity in equity (along with Black's being subject to greater downside risks) on here and you were apart of that thread, so maybe you just forgot
Against Black Homeownership
The real estate market is so structured by race that black families will never come out ahead. KEEANGA-YAMAHTTA TAYLOR In January 1973, George Romney, Nixon’s enigmatic Secretary of Housing and Urban Development, administered an open-ended moratorium on its 1968 initiatives to open up...
www.thecoli.com
TheDarceKnight
Veteran
This right here.
Also, if coffee and Netflix are considered "luxuries" in today's end-stage capitalist hellhole, then I'm almost at a loss for words on how to feel about that.
Not to mention the article does a great job explaining that cutting back on that stuff damages the economy.
Its actually awful
TheDarceKnight
Veteran
There's definitely something to be said for having some self restraint to not buy coffee every single day, or not signing up for streaming services and not using them, and making smart financial decisions, etc.
But like you said, all of that is a very small piece of the equation. A higher minimum wage, better jobs, more affordable education, less buying up of the housing market by hedge funds, more affordable healthcare---there are systemic things that would make the American Dream more reachable for people that don't involve them abstaining from some of the few small pleasures left to enjoy in this dystopian world we're living in.
ogc163
Superstar
Foregoing Lattes isn't going to move the needle beloveds.
ADevilYouKhow
Rhyme Reason
ogc163
Superstar
88m3
Fast Money & Foreign Objects
I would give up some luxuries to buy a house.
Gritsngravy
Superstar
I don’t know how someone would get this data, but I wonder if there was a way to see how every home/piece of land in America was purchased, like the original buyer of the land or home and how it was bought, Maybe that could give us a clearer picture on what it means to buying and owning a home