This seems to be a nationwide trend for desirable major metro areas. For instance, even 10 years ago making 70k in the Denver area would at least get you a decent condo, and you could probably find a very old house in an okay neighborhood to buy.
These last 5 years alone have really destroyed the possibility of home ownership (or even condo ownership) for a lot of people. Now, if you spouse up and you both make the average wage or above you are okay, but overall it seems like the shift is towards pricing out anyone but experienced workers working in a specific few sectors (technology, medicine mainly).
I’m not going to say it’s impossible for people to get homes, but it seems like the only way people making salaries along the lines of 60-80k (many of which have no real possibility of going higher) are going to own homes is through marriage. Which isn’t terrible, but people are panicking and going into buying mode because the door is closing fast. Denver, Seattle, Boise, Atlanta, Nashville, Charlotte, etc. are good examples of cities where the door is closing quickly.
This seems to be a nationwide trend for desirable major metro areas. For instance, even 10 years ago making 70k in the Denver area would at least get you a decent condo, and you could probably find a very old house in an okay neighborhood to buy.
These last 5 years alone have really destroyed the possibility of home ownership (or even condo ownership) for a lot of people. Now, if you spouse up and you both make the average wage or above you are okay, but overall it seems like the shift is towards pricing out anyone but experienced workers working in a specific few sectors (technology, medicine mainly).
I’m not going to say it’s impossible for people to get homes, but it seems like the only way people making salaries along the lines of 60-80k (many of which have no real possibility of going higher) are going to own homes is through marriage. Which isn’t terrible, but people are panicking and going into buying mode because the door is closing fast. Denver, Seattle, Boise, Atlanta, Nashville, Charlotte, etc. are good examples of cities where the door is closing quickly.