Hacker News Reader

Comment by papito | Hacker News Reader

There is another angle.

https://awealthofcommonsense.com/2021/05/did-hgtv-ruin-the-h...

What if young people burry themselves in debt because they want the instagram life now? What if they refuse to live according to their means?

View on HN

Vast majority of debt in the US is

Tuition, Housing and Medical

Complaining about avocado toast won't change that

Medical is one thing - housing and tuition is completely self-imposed. I make 6 figures in software but I went to New York City College. I graduated with zero debt (in fact, I got paid to study).

And I am still renting at 40. Getting an Instagram home takes time and saving for decades. It's always been this way.

This. I think too many people can think to a friend who purchased their McMansion at 30 and think to themselves that buying a home is unattainable. I realized that it takes constant self-reflection and discipline to build a 20-50% down payment on a 15-year mortgage WHILE socking money away for retirement, 529, and HSA. Granted, rates are lower than they ever have been historically but borrowing to get rich is still leveraging. I get ticked off when talking to real estate agents who only think leveraging is the way. To be honest, I don't have a credit score any longer. It's called manual underwriting!

The article linked is about housing -- specifically younger people buying more house than they can afford.

I'm sure a similar argument could be made about education. I personally know a number of people up to their ears in debt for advanced degrees that have no economic value.

The younger people that can qualify to buy a house aren't poor.

Reply on news.ycombinator.com