Sorry, I forgot the mid-30’s reference is from the OP. I’m in my mid-20’s and have been investing for awhile now. I would think that most first time home buyers’ age is getting younger. Maybe because it’s due to the bubble, but I know many mid-20’s who bought their first home already. In a non bubble area, rent should cover mortgage cost, so if your income can support the mortgage payment, I don’t see why you would not just buy and rent it out when you’re ready to move again.
AN,
You are the exception to the rule and perhaps even exceptional. It is likely that those around you are like yourself, but understand you are basing your ideas on a very biased sample and limited view of the world. Mid-20’s homebuyers are not common and never were around here even b4 the bubble.
What do you mean around here? I live in San Diego too. Oh, and regard mid-20s home buyers around me, I’m sure they are stretched to the hilt to pay their mortgage, so not all of them should buy. I’m just saying that my generation want IT and want IT now. What ever “IT” is. That’s why you get this insanity. Instead of waiting till they save 20% down and make enough to comfortably afford a 30 year mortgage + save for retirement, they go and get the IO ARM. So, that’s just some insight on why I see/know many mid-20s owning homes.
