Upside:
> no mortgage
Downside: can't make down payment and perhaps never will.
Yes but software engineering pays enough that you don't need to go to Google or Facebook or other unethical ad companies to live decently. My salary is probably below market rate (which itself is way below google-level pay) and can still buy pretty much anything I want while having enough left at the end of the month to have near-0 concern about my future.
(Not living in the US, so not worried about a health problem bankrupting me or having to pay ~100k for my kids college)
In Seattle, 3000 sq ft homes go for a floor of about $750k, and that's in the extreme south end of town. In SF, try $1.5mil. $500k+ in the outer extremes of NYC. Average developers can't all move to whatever cheap metro you're describing; there simply aren't enough jobs there.
I must be imagining things that I’ve been doing pretty well for myself in Atlanta for 20+ years....
And posters on HN wonder why I always rail against the Silicon Valley/HN bubble.
https://www.glassdoor.com/blog/25-best-paying-cities-softwar...
Do you think all the average west coast developers can move to Atlanta? No; there aren't the jobs. And if/when there are, housing prices rise correspondingly.
I'm glad ATL works well for you, but it isn't the average experience.
Why isn’t it the average experience?
Because they're 20, that's the point.
They rent instead.
Rents are usually higher than mortgages for the same kind of property...
I see a lot of young people making assertions based on race and other indelible characteristics, with the idea that doing so is somehow intellectually and morally worthy. Back in the day, someone proposed that people should be judged on the content of their character. I would urge young people to be wary of those who try to attach negatives to indelible characteristics, like age.