I know this wasn't your point, but I've been confused on a particular point for awhile:
buying a house is simply out of reach unless you have dual income and it better be nearly six figure dual income....
Just the general idea of it being impossible to afford to buy a house. And don't get me wrong, the prices on houses have gotten ridiculous! At the same time, we talk about landlords buying houses and charging exorbitant rent (suggesting at the very least more than what they pay).
So if rent is more than the mortgage, insurance, etc, then how is it impossible to buy a house if it is possible to rent (an equivalent home)? Is it the down payment (if any)? Costs involved in purchasing? Because it seems like month to month it would be cheaper.
I say this as someone who has rented and owned, and owning felt significantly cheaper.
(Full disclosure, I'm in the military, so I had access to a VA loan... though not really sure what that did for me except maybe allow 0% down... if other people are absolutely required to put up a percentage then I can definitely understand it).
My question was less about how doable it is, and more... if you can't afford to buy a house, how can you afford to pay rent (and thus someone else's mortgage plus a little extra)?
The last place I lived, I could afford my mortgage but I wouldn't have been able to afford to rent an equivalent house. Hence my confusion.