Housing prices keep rising, but wages haven’t kept up. For many young people, owning a home is no longer a realistic goal - it’s becoming a luxury.
This is more reason everyone should seek other sources of income and not being dependent on a wage that is not appreciating in response to the inflation. You have many options to get along with the increase in prices of things, develop yourself more and get more dividends for your value, seek other means of income and you can start some smart investment activities which would give you more income in the near future.
Having your home is still very much a realistic goal if you plan very well for it.
What used to be a natural part of adult life has turned into a debt trap or simply a fantasy. More and more young people are realizing that buying property under current conditions makes little financial sense.
Paying rent for a long time is what makes little financial sense, it still makes very much sense to save and build or buy my own house, in fact, it is top on my priority list and I cannot engage into the long-term financial mistake of remaining a tenant, Instead I feel more financially smart to build my own house and enjoy my dividends from renting parts or some of it to tenants. It serves as another investment to me and you know well that landed properties keeps appreciating.
We're witnessing a shift: instead of saving for a home, people are turning to alternative assets, remote lifestyles, or simply accepting long-term renting.
Having your home is one great asset if you ask me, I have lots of friends who are building theirs and I'm surely starting mine soon, long-term renting is a financial mistake if you have the means to save up and own your own home.