The Salary Needed To Afford Rent in 10 of the Largest US Cities ---Good grief!!!!!!

[UMTerp01]

32. The other thing is that because of the housing bust its much harder to purchase a home these days

I noticed quite a difference from when I purchased my home before the market crashed to now. You need a lot more up front money. The mistakes these assholes made putting people into houses they should've known and I believe did know in many cases these folks couldn't afford is making it very difficult for first time home buyers to purchase a home now. FHA loans are probably your best bet because you only need 3.5% but there are downsides to that as well. In addition, if you have significant student loans, FHA just made changes to their criteria that is going to make it difficult for those with high student loan payments to get approved. That is partly the reason why so many kids are doing the roommate thing or living with their parents still. Its why multigenerational housing is back on the rise. Why have two mortgages and two sets of bills when you can go in on one bigger house but still make out better in the end. Its just too damn much.

So millenials have thousands upon thousands of dollars in student loan debt and now many of them can't even get into a home. Something somewhere has to give. That there isn't some sort of control on these prices is ridiculous. It surely seems criminal.