Boomers told me to buy a house at 22, completely ignoring 2008 was right around the corner

My dad kept pushing me to get a mortgage in 2006. Said renting was throwing money away. I was 22, working at a coffee shop in Cleveland. Then the crash hit and half my friends lost their jobs and houses. Who else got generation-gap financial advice that turned out to be a total trap?

2 comments

2 Comments

blake32216d ago

My dad was the SAME way, he literally handed me a book about buying your first home in 2005. I was working at a bookstore and had like 2k saved. He said "you'll never get in cheaper" and I just couldn't wrap my head around it. What kind of job did you even have back then that made buying a house seem like a sane idea? Because for me it felt like they were living in a completely different reality where minimum wage actually meant something. Did your dad ever admit he was wrong after 2008 or did he double down and blame you for not buying "the right way"?

ben_nguyen16d ago

2008 was a bloodbath for sure but @blake322 prices never recovered in my area.